If your business is registered for GST, the ATO requires you to lodge a Business Activity Statement (BAS). The BAS helps you report and pay taxes including GST, PAYG instalments and PAYG withholding tax.
Registered BAS Agents are there to help you navigate the ever changing minefield of the Australian taxation system, obtain the maximum benefits and avoid penalties.
Before finding out exactly what they can do for you, let’s begin with their qualifications. Continue reading
The term ‘tradies’ covers numerous professions; carpenters, plumbers, electricians, bricklayers, plasterers, gardeners, landscapers, painters, tilers, mechanics, and more. Most tradies like to get on with their own jobs and don’t really like spending time doing the paperwork. However, in recent years the ATO has been cracking down on cash-in-hand work by matching the credit and debit card payment data provided by the financial institutions against ATO records. This is one reason why many are now turning to bookkeepers. Continue reading
Restaurants are a specialised business and this section of the hospitality industry presents a number of unique challenges for keeping financial records. When you are working from morning until night it doesn’t leave a lot of time for recording entries and working out payroll and GST. Having a bookkeeper can take a lot of pressure off and ensure that all of your records are both accurate and up-to-date. Continue reading
Bookkeepers and accountants both play an essential role in managing your finances. Most businesses utilise both because, while they serve many similar functions, they also have some main differences. They work in different stages of the financial cycle. In very simple terms, bookkeepers record business data and accountants analyse the data. Continue reading
If you run your own business, then no doubt you are an extremely busy person. There are many business software programmes out there and chances are you are using a number of different programmes in your business such as Sage, Quickbooks, Microsoft, etc. Continue reading