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As a business owner in Australia, understanding your tax obligations and ensuring compliance can be complex and time-consuming. A Business Activity Statement (BAS) agent can provide valuable assistance and take the stress out of lodging your BAS.
What Is a BAS Agent? A Quick Guide for Business Owners Read More »
Do you dream of the day you can escape the daily work grind? Do you already have a picture in your mind of the retirement lifestyle you would like to have? If so, you’re likely to ask yourself, “how much superannuation do I need to retire?” With the rising cost of living, life expectancy, and
How Much Superannuation Do I Need? Read More »
Are you a new business owner in Australia feeling overwhelmed by setting up payroll taxes? If so, you’re not alone. The idea of navigating the rules and regulations of payroll taxes can be daunting! But the good news is that setting up payroll taxes doesn’t have to be a big deal.
Who Pays Payroll Taxes? Read More »
Single Touch Payroll (STP) is a system for reporting payroll information to the Australian Taxation Office (ATO). STP makes it easier for businesses to meet their reporting obligations and ensure that employee payments are correct. However, making the transition to STP can be a bit overwhelming.
The Single Touch Payroll Checklist: Steps To Follow Read More »
Choosing the right type of accountant for your business is like choosing the right tool for a handyman job. While some tools may look the same, there can be significant differences in how they work. For example, choosing a metal cutting blade to cut through some timber will waste energy, time, and resources.
Types of Accountants: What You Need To Know Read More »
End of quarter means it’s time to submit another Business Activity Statement for your business. These are issued by the Australian Tax Office and are essentially a facility for you to report the money that has come in and gone out of your business to cover a range of tax liabilities. Failure to submit your
BAS Preparation Checklist Read More »
Business Activity Statements (BAS) are a source of anxiety for many modern business owners. That stress only gets worse if you have not been keeping accurate records of your business finances and putting money aside to pay for it when it is due. Any business that is registered for Goods and Services Tax (GST) is
What Does BAS Stand For? Read More »
Many people struggle to pin down exactly how bookkeeping differs from accounting. It’s true that many of the goals of both are shared, but when you look closely at the difference between bookkeeping vs accounting, it soon becomes clear that they are not the same thing. In a nutshell, bookkeeping is more about data entry
Bookkeeping Vs Accounting: What Are The KEY Differences? Read More »
Good financial health and consistent insight into your money are essential for running any business, large or small. Balance sheets are one of the best ways to get a handle on what your current finances look like during a particular period or on a specific date. If you’re wondering ‘what is a balance sheet?’, we
What is a Balance Sheet? Read More »
Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses. One of the forms of reporting and documentation that should be
How to Create a P&L Statement Read More »
