How to make your Festive event Festive in a good way Featured

  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 make sure workers understand what behaviour and conduct is acceptable…

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What a bookkeeper has to learn to provide services

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 they’ve collected cobwebs in the background coding of…

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Workplace Christmas Parties and Fringe Benefit Tax

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 providing a Christmas party is income tax deductible only to…

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In Business? You need a Support Team

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 chaos; chaos breeds anxiety and…

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How to make your Business a Lean Mean Fighting Machine (Part 2)

In Part 2 of our series to a Lean Mean Fighting Machine Business we look at ways to Keep the Cashflowing in your Business. Margins You must try to maintain margins as much as possible – not just through more sales but by good cost management.  Competitors may falter which may give an opportunity to…

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How to make your Business a Lean Mean Fighting Machine (Part 1)

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 your high overhead business turn into a Lean…

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Bookkeeping Terms

Want to have some insightful, informed conversations with your bookkeeper?  Do you want to increase your bookkeeping knowledge? Hiring a registered bookkeeper is considered good business practice in many industry circles.  But just because you delegate your bookkeeping doesn’t mean that you should not be involved in the running of your business.  On the Contrary,…

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TPAR – Is your Industry Required to Lodge?

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, partnerships or trusts. Details you need to report are found on the invoice you should have received from them. This includes: their Australian…

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What is the Best Accounting Software?

  Question?  What is the Best Accounting Software? Answer       How long is a piece of string?. When you first start out in business, you may not be dealing with many transactions which you might be able to keep organised via a spreadsheet. As time goes on however, for various reasons, you might need to look…

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AUSkey Fraud

  30 January 2017   AUSkey fraud alert Cases of identity thieves obtaining AUSkeys linked to legitimate businesses has recently been detected by ATO. Once an fraudulent Auskey has been allocated, access is gained to the Business Portal. Fraudulent BAS can be lodged and bank details updated to accounts that are not controlled by the…

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Downloadable TFN Forms

TFN declaration forms can now be downloaded   21 June 2016 We know there’s a lot of paperwork to complete when you hire new employees. ATO has listened to you and developed a fillable TFN declaration form which is available on their website. You no longer need to order the form and wait for it…

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