Some employers need to pay PAYG withholding liabilities to the ATO monthly, even if the BAS is lodged quarterly. The monthly instalment activity statement (IAS) and payment is due on the 21st, whether you are lodging your own statement or using our lodgement service. Things to review before finalising the IAS: Have you allocated all […]
Your Monthly Activity Statement (BAS) Is Due On The 21st
Your monthly activity statement is due by the 21st of this month. Use the following checklist to make sure you are ready for lodgement day: Have you allocated all bank transactions to the correct accounts? Have you verified that the bank balance listed in your accounting software matches the balance in your bank account? Do […]
Key Numbers Focus Your Business
As a business owner, it’s always been helpful to have an understanding of accounting – but in the post-lockdown world, it’s never been more important to have a good grasp on your finances. With the business world irreparably changed by the impact of coronavirus, your business is facing a ‘new normal’. Priorities have changed, customer […]
Get Your Business Records Ready For Your Tax Return
Whilst it is not exactly business as usual right now, you still need to prepare for your business tax return. Organising your documents now will mean you can get your tax return completed earlier and access any refunds due or start planning for tax payments. Getting your business records up to date and accurate will […]
Common Tax Deductions For Small Business
There are many expenses common to most small businesses, and there are other expenses that are specific to the nature of the goods or services the business provides. Are you claiming all the tax deductions that you are entitled to? Operating expenses include accounting, administration, advertising and marketing, office premises, office running expenses, trading stock, […]
Xero adds new features to help track work-related expenses
When your staff are working from home, how do you track their work-related expenses and get a clear real-time picture of your financials? Contractors are in the habit of recording business expenses related to the home office for tax reasons. Employees, however do not claim deductions because the employer pays for these expenses. Xero have […]
Tax Tips For Property Investors
If you have income from investment properties, now is the time to start gathering your records and reviewing your expenses for the 2020 financial year. Income to Declare All income earned from each property must be declared. If you have multiple properties, keep the records for each property separate to make the tax return more […]
Lessons Learned In Lockdown – For Your Business And Life
Lockdown has been (and remains) a tough time for business. Having to shut your business at short notice, or switch to an entirely digital, remote-working model, was a stressful experience. But there are things we have taken out of lockdown. Whether it enabled us to explore new ideas or dive into some fresh thinking regarding […]
Raving Fans Are Like Business Ambassadors
Want to win new customers? Make sure you start with the ones you ready have. Studies show that the longer your customers stay, the more they’ll spend with you. Happy customers = loyal customers = boosted bottom line The term ‘raving fans’ relates to a passionate subset (usually about 10-15%) of your customer base, who […]
