Tradies Bookkeeping Tips To Save You Time and Money

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Filed under: Bookkeeping and Accounting

A common issue with a lot of trades people (tradies) is dealing with the horror of the business administration aspect of their business. After spending the day taking care of clients, the last thing you want to do is come back to the office to deal with bookkeeping tasks.

From working with tradies in various industries and helping them with their bookkeeping we know how difficult it can be to find simple software to generate invoices. We have some recommendations that we will discuss later. Continue reading →

Key Points to Consider when Hiring Employees

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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 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

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Filed under: Taxation Strategy

If you’re one of the business owners who operate int 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

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Filed under: Taxation Strategy

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 →

What You Need To Know About The 2015 Federal Budget

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The  Abbott government’s federal budget plans for 2015 are quickly making the rounds for good and bad reasons. The goal is to boost the economy, and like any other government plans, there will be winners and losers.

The whole plan is banking on a flourishing economy, which the government aims to strengthen by stimulating the small business sector and increasing the strength of Australia’s workforce. But these efforts require certain sacrifices that might earn the ire of citizens. A delicate balancing act the federal government will have to embark on. Continue reading →