Don’t Lose Your Tax Deductions

There’s recently been a big tax law change that may reduce the tax deductions for many businesses across Australia. This may happen if you: Don’t lodge your BAS’s on time; or Don’t lodge your payroll each week using Single Touch Payroll (STP); or Don’t properly withhold a tax amount from a payment before you pay it to an employee or …

Tax Time Updates & Reminders

Your 2019 EOFY Reminders & Action Items Another financial year has finished and as a responsible business owner, there are many obligations that you need to consider and action. PAYG Payment Summaries If you have not used STP for 2019, then you need to provide all of your employees with their PAYG Payment Summary on or before 14 July 2019. …

Tax – What the 2019 Federal Election means for You!

There is only a short time before the Federal Election on 18 May 2019, and there’s a lot of wild speculation and “fake news” in the media. We’re not trying to recommend who you should vote for, but instead we believe that it is vital that our clients understand how they will be affected by the result of the Election. …

Xero “Payroll Only” – STP for Small Employers

From 1 July this year, Single Touch Payroll (STP) will apply to all employers in Australia. First announced in 2015, STP is an Australian Tax Office reporting regime that requires employers to report salaries and wages, PAYG withholding tax, and superannuation to the ATO each time they pay their employees. According to the ATO, more than 400,000 small employers with …

Key Budget Highlights

On Tuesday, 2 April 2019, Treasurer Josh Frydenberg handed down the 2019-20 Federal Budget. In an election Budget, the Treasurer announced the first Budget surplus in more than a decade at $7.1 billion for 2019-20 Economic Outlook Frydenberg maintained a relatively optimistic outlook for the economy, though he conceded there were risks including from falling house prices and global risks …

Thoughts for the year ahead – Tax in 2019

There are a huge number of tax laws that may change this year as a result of the upcoming 2019 Federal Election. Individuals could be affected by: Losing franking credit refunds More Capital Gains Tax Losing tax benefits from negatively gearing Investment Properties Businesses could be affected by: Changes to the laws for loans from Companies (known as “Div 7A”) …

Are you being Data Smart with your Smart Phone ?

Sure you have a cool phone……. but have you considered the security aspects? “It’s an unfortunate fact that the impact of cybercrime is a reality for all businesses. The scary reality is that 978 million people in 20 countries were affected by cybercrime in 2017. In New Zealand and Australia, one in four small businesses experienced a cyber-attack or hacking …

The Invoicing Survival Guide

Getting paid quickly should be easy – but the invoicing process can often take more time than the work itself. Xero have researched the best in the business to simplify invoicing for you. So whether you’re just starting out, or want to improve on what you’re doing – our tips and tricks will help you navigate the world of invoices. …

New Year’s Resolutions & Tax

Have you made a New Year’s Resolution to get your finances and tax in order? Making the resolution is easy and often soon forgotten however, all is not lost. We can help you turn your resolution (good intentions) into a reality that benefits you and your business. Warning! The Australian Taxation Office (ATO) is closing in fast on everyone who doesn’t …