Single Touch Payroll (STP), is a term that employers have been hearing for the past couple of years and making changes in their payroll software to accommodate. However, it is also a term that many employers are a little bewildered by, unsure exactly what it is all about. Here is a brief, simplified explanation of […]
The clear benefits of Xero: Our Preferred Accounting Package Whether you’re a new business just starting up or you’ve been around for years, keeping up with “the books” is a really important aspect of your day to day functioning. In this post, we outline the benefits of Xero for your business. It can seem complicated […]
If you own your own business it can be easy to let the lines blur between private and business money – but don’t fall into the trap! Private and business funds are treated differently for tax purposes and it’s important to keep them distinct so you can ensure you don’t pay too much tax. There […]
We have all felt it! The cost of living is increasing. Inflation is on the rise in Australia, but don’t let it take control of your finances! Our expert accountants are here to help you navigate these challenging economic times and find ways to maximize your wealth. So let’s understand what inflation is. Rising inflation […]
Starting a new business is an enormous undertaking and, despite the blood, sweat and tears from passionate people, not all new businesses survive their first few years. No one plans for their business to fail – so what goes wrong? Chris Mooney from My Business discusses this further in this article here, but there are […]
As we are well into the first quarter of the new financial year we have some important updates for you from the ATO. They include the Phase 2 rollout of Single Touch Patroll and information on Superannuation Guarantee obligations. Single Touch Payroll Phase 2 Single Touch Payroll (STP) is being expanded to reduce the burden […]
Any business is made up of multiple parts such as staff, production line, suppliers and customers. It can be difficult to know when an issue arises before it has a major impact. Keeping your finger on the pulse of your business enables you to set goals, make better decisions and assists in getting finance. A […]
If you keep up to date with emerging technology or stocks, you will probably be following how ‘cryptocurrency’ is going. The ATO estimates more than 600,000 Australian taxpayers have invested in crypto assets. The ATO is working hard to erase the misconception that crypto currency gains are exempt from tax when cashed back into dollars. Over the […]
One of our most frequently asked questions is “how am I able to claim my car deductions?” The ATO defines the ability to claim car deductions: “… for motor vehicle expenses, if you use the vehicle in performing your work-related duties. How you work out your deduction will depend on if you are using: Firstly, […]
Setting a budget for your business may seem daunting, but it doesn’t have to be. A well-planned small business budget will empower you to eliminate wasteful spending and lead your company to become more profitable faster. That’s just of the reasons we are trusted Xero accountants Gold Coast. Our partners at Xero have stated that […]
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