Small businesses often have a multitude of contributing factors that can affect their bottom line. Rising costs and excess stock contribute drastically with cash flow and over purchasing. In Part 1 of our 3 part series we give a few tips on how to go about turning...
It’s easy to become anxious or overwhelmed and start jumping around from one task to another during your day, to get back on top of it. That approach can add a lot of stress, but you can avoid it by outsourcing to professionals. What you’re addressing with this is the...
What is TPAR? Total Payment Annual Reporting (TPAR) informs ATO about payments made to contractors for providing services. Contractors can include sub-contractors, consultants and independent contractors. They can be operating as sole traders (individuals), companies,...
New Laws Prohibiting sexual harassment in connection to work apply from March 6, 2023. These Changes are part of the Australian Government's Secure Jobs, Better Pay legislation that passed in December 2022. Workplace Sexual harassment protections The changes mean:...
Every year there is a lot of confusion over what a business can claim as a taxable supply around the annual Christmas Party and gift giving. The rules are pretty complicated but here is a guiding summary. Christmas Parties: (Excerpt from www.ato.gov.au) “The cost of...
So You need a Bookkeeper…... You’ve jumped online to ask “Dr Google” how much a “Bookkeeper” will cost you and Dr Google has come back with something along the lines of “Between $20-$50” Right? Wrong! Chances are these are either US dollars or prices so old that...
The Festive Season 'Tis the season to be jolly, but in all seriousness the festive season and end of year celebrations can be a source of anxiety for employers who are unsure of their obligations to their workers. When it comes to work celebrations, employers need to...
If you set yourself goals at the start of 2020, the upcoming financial year is a great time to check if you are on track. And if you didn't set any goals - or if you have strayed off track - this is the perfect time to get organised. Write a check list and stick with...
What is Paid FDVL? As of 1st February 2023, Employees of non-small business employers can now access 10 days of paid family and domestic violence leave in a 12 month period. Employees employed by Small Business (employers with less than 15 employees) can access the...
How to apply the correct rate? Fuel tax rates increased 1 February 2023. The easiest way to apply the correct rate is to use the Fuel Tax Credit Calculator on ATO Website every time you make a claim on your BAS. You can also use the Simplified Method if you claim less...