What you need to know about Taxable Payments Reports.

There are plenty of reporting responsibilities for business owners. The ATO is constantly increasing its data matching capabilities, and some rely on businesses providing them with information. One of your newer responsibilities is the Taxable Payments Annual Report (TPAR). What is TPAR TPAR refers to Taxable Payments Annual Report, which is an industry-specific reporting requirement…

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Changes in Super Guarantee for 2023 financial year

Two essential changes in Super Guarantee will apply from 1 July 2022. As a business owner, it is important that you are on top of these. To help you out, we have created this easy guide to run down what they are, what this means and what you need to do. Super Guarantee rate will…

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What’s the difference between a BAS Agent and a Bookkeeper?

Not all BAS Agents are bookkeepers and not all bookkeepers are BAS Agents. There is an important distinction between the responsibilities handled by both roles. A bookkeeper and a BAS Agent play an integral part in any business. Both have ongoing roles that ensure your business’ financial records are accurate and kept up to date…

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The top 5 bookkeeping habits you should start in 2022

With 2022 now in full swing, it is time to pick up some great bookkeeping habits that will enhance your year. Bookkeeping is incredibly important in business, and good bookkeeping can empower a business to achieve more. A great place to start improving your bookkeeping this year is to pick up some good habits. So,…

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Have you reviewed your pricing this financial year?

How often do you review your prices? If you haven’t looked at them yet this financial year then now may be the time. It is common for business expenses to increase throughout the year. Because of this, your profit margins may be reduced if you are yet to review your pricing. Across the year you…

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5 things to remember for a FBT-friendly Christmas

With Christmas only a couple of months away you are probably beginning to think about your office Christmas party and other fun things you do around this time of year. Before you begin planning it is important to think about the Fringe Benefits Tax implications of your festivities. With this in mind, you can have…

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5 tips for getting your eCommerce business started

Are you considering getting into eCommerce? It is a very lucrative opportunity, filled with creative stores selling a wide variety of products to different niches. The eCommerce market in Australia is the 11th biggest in the world, which is tipped to grow to over $44 billion AUD by 2024. With a market so large there…

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Important changes to employer obligations for employee superannuation from November 2021

From 1 November 2021, if you have new employees start, you may have an extra step to take to comply if they don’t specify a super fund. Luckily it’s only a minor tweak and won’t add substantial effort to your employee onboarding process.   What has changed?   Where a new employee does not specify a super fund, employers must make super contributions to the employee’s “stapled fund”. Previously, the employer could simply direct…

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What is Payroll Tax?

If you own a business that has employees you may have heard about payroll tax, and wondered what it is. For many very small businesses with 1 or 2 employees you may not yet have been required to pay it, and so may not be sure when you will need to. In the case where…

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