Behind on Taxes, BAS Lodgement & Tax Office Obligations?

Debts of any sort are a burden. Whether it be personal, business, school, or in the form of a loan, debt can quickly go from manageable to out of control and stressful. For your business, getting behind on taxes, lodgements and debt repayment is probably not written into your business plan. In order to avoid letting debts get out of control, it’s important to understand the deadlines for lodgement obligations. It’s also important to have a plan in place in case you do get behind in your debts and lodgements. Here is some information to help you wade through the murky waters of the Australian Tax Office. Continue reading

Is MYOB Still the Best Accounting Software Choice For Small Businesses?

MYOB has been trusted by over one million Australian businesses to make bookkeeping simpler and more direct. Because of its simple interface, MYOB has become one of the most successful accounting software options in the last few years.   Recently, however, the competition has been much fiercer among online bookkeeping companies, and MYOB’s reign at the top is in jeopardy. MYOB still leads the way, but for how long will that be? Continue reading

How Saasu Accounting Software Can Simplify Your Business

When choosing accounting software for your business, it’s important to choose one that not only fits well with the type of business you are conducting, but one that is simple to navigate and utilize as well. Proper bookkeeping requires education at every turn, whether it be the software itself or the practices involved. And for the last 3 years, Saasu accounting software has been one of the simplest and most effective bookkeeping software companies available worldwide, and have a great team ready to help you every step of the way. Continue reading

Xero Inventory: A New Chapter

Xero

A new page has been turned in Xero’s accounting software manual. With its other main competitors already having a system to track inventory, it was only a matter of time before Xero included a system of their own. There are pitfalls to be sure, but Xero’s inventory software is sure to make its users very happy. Continue reading

Key Points to Consider when Hiring Employees

In light of the revised Australian Tax Budget of 2015, which is dedicated to stimulating the economy by improving the overall state of the small business sector, it is the perfect time for people with entrepreneurial inclinations to make their first jump into the world of business.

One of the first few hurdles a first-time entrepreneur would face is the whole process of employment, which can be costly, time-consuming, and stressful when done incorrectly regardless of whether you’re in Brisbane, Sunshine Coast, or Gold Coast.

Here are 6 questions you should ponder on to improve the probability of getting good employees: Continue reading

How To Prepare and Lodge Your Taxable Payments Annual Report

If you’re one of the business owners who operate in the building and construction industry, and you pay contractors for providing building and construction services, you need to make some preparation for the Taxable Payments Annual Report (TPAR) which is due 28th of August each year.

The Taxable payments annual report summarizes every payment you have made to each contractor for the previous year. Through TPAR, compliance of contractors is being observed. Data matching is done to detect contractors who have failed to lodge tax returns or failed to disclose their income.

There’s no reason to dread the TPAR. We’re here to help you prepare and lodge your taxable payments annual report, and save you from some stress and confusion. Continue reading

What is SuperStream and How to Become SuperStream Compliant

The Australian government is definitely on a mission to stimulate the economy as it unveils SuperStream, which has the function of providing consistent and reliable electronic transactions for superannuation obligations.

What is SuperStream? SuperStream is the government’s solution to the persistent cases of lost superannuation accounts and unclaimed money. Aside from this apparent problem, it is also the Australian government’s goal to improve the overall efficiency of the superannuation system via on-time processing of contributions and rollovers by requiring employers make super contributions in behalf of their employees. Continue reading

Key Advantages of Using Accounting Software For Your Business

The rise of technology has disrupted business in the best way possible: a specific task that should take days or months back then can now be done in minutes or depending on the computer and software you’re using, in mere seconds.

The same can be said towards the improvement of sales analysis, customer retention programs, and process quality maintenance. Which prompts this question: what advantages would be gained from using an accounting software package for your business?

The advantages of acquiring and using an accounting software package for your business are definitely vast and quantifiable, but as a business owner, why should you use an accounting software package for your business? Continue reading

Prepare Your Business for End Of Financial Year and Tax Time

Doing the taxes for your small business or speaking to your accountant may not give a rush of pleasure at all, but it can save you for a lot of pressure in the future. By being tax-smart, you can get through the end of financial year stress-free. With the right preparation, you can minimise your tax bill, maximise the benefits from the Tax Office, and put yourself in a better position for the next financial year.

Be the best small business owner you can be! Now, let’s make every day count by using the following strategies. Continue reading

Double Dipping: 4 Ways How the Changes in Paid Parental Leave Could Affect Your Business

One of the controversial proposals in the Federal Budget 2015 of the Australian government is the revision of paid parental leave. Previously, employees could get their paid parental leave from their employers and the government, which led to the moniker, “Double Dipping”.
This proposed Federal Budget 2015 revision focuses on limiting the paid parental leave employees receive from the government, and increasing the government funds, by forcing them to select only the one with the better paid parental leave scheme.
The Double Dipping provision requires employees to select only the larger paid parental leave incentive from the two, significantly cutting the expected paid parental leave incentives of the working parents in Australia. Continue reading