Superannuation is a big deal!

With the new Single Touch Payroll system in, the ATO is now receiving data from the Superfunds and will match it to the payroll records. Penalties have ramped up as well as the ATO audits for unpaid Super. Employers not doing the right thing can expect a visit from the ATO.  

2019-07-15T16:20:01+10:00July 13th, 2019|ATO, Bookkeeper, Financial, Payroll|

New Financial Year for your tax return

Maintain separate business and personal records. Have a separate bank account for business transactions only. Keep your records for 5 years. Set aside time to review and update your records Keep records electronically wherever possible. Software can help you report income and claim expenses correctly. ATO Small Business Newsroom

2019-07-13T16:01:23+10:00July 11th, 2019|ATO, Financial, Governments, Taxes|

Be aware of Phone ATO Scams!

PHONE SCAM ALERT! Listen out for suspicious calls claiming to be from the ATO. Scammers are ‘spoofing’ our phone numbers so it looks like the ATO are calling. They’re also leaving our numbers on voicemails to make their contact seem real. While these calls may appear to be from us, remember that we’ll never: • [...]

2019-05-28T14:55:11+10:00April 22nd, 2019|BAS, Bookkeeper, Financial|

Top GST mistakes in BAS reports

It's easy to make a mistake when preparing your BAS.  That's why a certified bookkeeper/BAS Agent would be valuable in ensuring the ATO reporting is correct. Many business owners make mistakes on the Hire purchases/Lease of Vehicles or Plant & Equipment on their BAS. Incorrect tax codes in your chart of accounts - this affects [...]

2019-01-21T14:07:23+10:00January 20th, 2019|BAS, Bookkeeper, Financial, Taxes|

Do you have an employee or sub-contractor?

When hiring you must check first whether they are an employee or a contractor. Its important because it can affect your tax and super obligations. Penalties may apply if you do not get it right. You can use the ATO Employee/contractor decision tool to help you decide. ATO employee decision tool Link  

2019-01-21T14:19:43+10:00January 4th, 2019|BAS, Bookkeeper, Financial, Hawkesbury, Trades|