With no slowing of e-commerce in sight, it’s become the obvious choice for many small business owners – whether they’re a startup or an existing business with a bricks and mortar store that’s either become too expensive to keep or that’s found success and needing a second avenue to sell through. The beauty of e-commerce […]
Key Insights: There’s a reason we recommend Xero as the go-to bookkeeping software for small business: business owners need tools that simplify operations, provide insightful analytics and streamline payment processes. We recently went to Xero Roadshow and learnt about some of the features that are new, and were reminded of other existing functions that are […]
Every year, we get a heads up as to which areas the ATO will be paying extra attention to during the tax season. They’ll pick apart common things that people accidentally (or deliberately) get wrong on their returns to crack down on. Here are the focus areas for 2024. Rental property claims The ATO’s review […]
Received an ATO penalty? Learn how to request a remission to reduce or cancel fines for late BAS, PAYG, or tax lodgements.
What does salary sacrifice mean? It’s a term familiar to most of us… and the main thought that comes to mind when you hear salary sacrifice is something like “I know that’s a good tax thing”. You’re right, it can be a great tax strategy for employees! Here’s what you need to know. In a […]
What is payroll tax in Australia and Victoria (VIC)? Learn rates and changes, how to lodge via PTX Express (Payroll Tax Express), due dates, penalties and tips.
How many times can you say LMITO fast? Well, the discontinuation of it – the Low Middle Income Tax Offset – is largely to blame for the currently most commonly asked question in our inboxes: why isn’t my tax refund as big this year? The fact that lower refunds has coincided with our cost of […]
Missing super payments triggers Super Guarantee Charge penalties up to 200% of shortfall. Learn SGC costs, due dates, and how to avoid ATO audit stress.
A business budget isn’t necessarily the most thrilling part of starting a business, but it’s certainly one of the most important. A surprising number of business owners forego this step altogether when embarking on a new venture and we think it’s safe to say that no budget is a big catalyst for the one in […]
The Purpose of Payroll and Its Key Functions Payroll involves calculating employee wages and salaries, deducting taxes, and paying employees on time. Payroll involves several key functions, including: Common Areas Where Mistakes Occur in Payroll What You Need to Get Right in Xero Xero is an online accounting software that can help businesses manage their […]
