Blog tagged as Accounting

Employees and the Holiday Season – What You Need to Know

The October 2022 Federal Budget contains measures which may provide you with an ability to earn some extra income without hurting your social security entitlements, to ease cost of living pressures.

If you’re not already using Single Touch Payroll Phase 2 in your payroll software, you may have more time before you have to start using STP 2. Talk to us today to check your payroll systems and software before upgrading to STP Phase 2.

Small businesses will get a bonus tax deduction on top of the allowable deduction for training their employees.

The $450 threshold for super eligibility is removed from July 2022. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.

From 1 July 2022, new electric vehicles under the luxury car limit will be exempt from fringe benefits tax. This means that an electric vehicle under $84,916 can be salary packaged for a substantial tax benefit.

The way to calculate a working from home deduction for running expenses has been adjusted from 1 July 2022, with the ATO issuing a new hourly rate and changes to previous years.

Have you thought about the compliance needs of your business? We’ll explain the legal, accounting and tax requirements and how you set the right foundations.

Do you fully understand the impact of your business activities on your cash flow? Your cash flow statement can give you great insight into business operations. Book a session today to examine your financial reports.

Not sure if you’re earning personal services income or conducting a personal services business? Special rules apply to PSI. Talk to us and we’ll check the type of income and ensure you are claiming the maximum allowable deductions and not being overtaxed.

Australia Weekly Digest - 22 September 2021

Australia Weekly Digest - 14 July 2021

Australia Weekly Digest - 9 June 2021

Australia Weekly Digest - 2 June 2021

Australia Weekly Digest - 12 May 2021

Find out which technology tools can make your life easy when you run your own trade business.

Ask the right questions and establish a connection with your customers built on trust. Read on to find how.

Here are a few simple tips for successfully welcoming your new hires.

Be forward-thinking and plan for the future to ensure your business survives after you retire. Check to see if you need professional advice on this matter.

Find creative ways in attracting skilled employees in a small talent pool and see if you need professional assistance in this area.