Labor’s tax policies that we can forget about

The 2019 election was, if nothing else, an interesting one.

As Bill Shorten and Sportsbet (paid out $5.2 million after Scott Morrison got the chocolates) lick their wounds, the Australian public move forward with the Lib’s still running the show.

It’s difficult to think of an election that promised more change to our tax system.

So now, in the light of a Liberal win; the below Labor policies, some of which have caused much debate, are unlikely to ever see the light of day…

» Continue reading “Labor’s tax policies that we can forget about”

5 tips to get the most out of your MYOB or Xero software

Accounting software these days can be pretty damn efficient!

As much potential that your software has, it’s normally only as good as the person driving it. Even the best software needs its driver to have some skill and understanding to ensure it creates the most accurate and efficient outcome!

Getting the most out of your Accounting software can be simple. Here we’ll share 5 simple ways to make your business more efficient, more compliant and help you get a better picture of how it is performing. » Continue reading “5 tips to get the most out of your MYOB or Xero software”

Why your super is SUPER important!

Written by Luke Wade

It seriously worries me when people neglect their super!

Sadly, whether you’re self-employed or not, super is normally the first thing to slip by the wayside when things get tight.

Why help future you when you’re struggling to pay the bills today, right?

Well as I’ll show you below, the cost of not paying super on time is huge!

» Continue reading “Why your super is SUPER important!”

10 reasons why you need online accounting software

Written by Luke Wade

Accountants have been banging on about ‘cloud’ accounting software for the best part of a decade. For good reason too; it was kind of a game changer – but more on that below…

Now, in the interest of full disclosure I think it’s important to point out that I’m a millennial – I love technology! Growing up during a time where change was everywhere, I’ve learned from my own experiences that accepting and embracing change and technology has had, and will continue to have, a hugely positive impact on my professional life. » Continue reading “10 reasons why you need online accounting software”

Single Touch Payroll

Whether you like it or not, Single Touch Payroll (STP) is coming; and when it does, it’ll be here to stay!

If you currently employee staff STP will be a game changer!

Remember back in 2000 when the ATO introduced GST (yep, once upon a time there was no GST); well, at the time the small business world kind of went into a little bit a tail spin. Basically, it completely changed what business needed to do, and when they needed to do it.

For employers, STP is going to have a similar impact! » Continue reading “Single Touch Payroll”

If the business you’re about start or buy was a car, would your mechanic let you buy it?

Written by Peter Beckett

I’m obviously an Accountant by profession. This means that I spend the majority of my working days helping small business owners run, manage and understand their businesses.

Some business owners run good businesses, some run poor ones.

The reality is that many people in our country look at either buying or starting a small business during their working lives. » Continue reading “If the business you’re about start or buy was a car, would your mechanic let you buy it?”

Are your loved one’s inheriting a huge tax bill when you die?

Written by Peter Beckett

As a tax agent, over the past 30-odd years (it hurts me to write that), I have spent a lot of my time helping people with the following:

1. Complying with our countries over-complicated tax laws; and

2. Hopefully paying no more tax than they have too.

Point number 2 is generally what my client’s perceive as offering them more value. After all, not many sane people want to pay more tax than they need too!

» Continue reading “Are your loved one’s inheriting a huge tax bill when you die?”

Super Amnesty for Employers – What it all means…

Just last week the government announced new legislation which provides a 12-month amnesty period for employers to self-correct prior super guarantee non-compliance without penalty.

In layman’s terms?

If you haven’t been paying your employees super (bad you!), you get a 12 month period, starting 24 May 2018, to pay the shortfall without the ATO applying their normally hefty penalties. » Continue reading “Super Amnesty for Employers – What it all means…”