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Running a small business comes with its fair share of challenges, but understanding your finances shouldn’t be one of them! Bookkeeping isn’t just about keeping records; it’s about playing by the rules, especially those set out by the Australian Taxation Office (ATO). At its core, bookkeeping is the process of recording all a business’s financial […]
What Is Bookkeeping for Small Businesses? Read More »
While running a non-profit or charitable organisation is rewarding, it comes with challenges. You’re constantly balancing mission-driven work with the administrative tasks that keep your organisation afloat. One of those critical tasks? Payroll. It’s complex, time-consuming, and, if not done correctly, can lead to serious compliance issues. But what if you could streamline this process
Payroll for Non-Profits: A Quick Guide Read More »
All Australian business owners, take note: A Business Activity Statement (BAS) isn’t just paperwork; it guarantees crucial compliance with Australian tax laws! Lodging a BAS ensures your business is paying the correct amount of tax to prevent legal issues, build a reputation for reliability, and secure financial benefits through appropriate deductions and credits. How can
Examining BAS Statement Examples To Help You Lodge Your BAS Read More »
Running a business is like putting on a stage show; bookkeeping software is the backstage crew, silently orchestrating your financial performance to perfection. How? Proper bookkeeping keeps you playing by the rules of Australian tax laws and gives you the clarity needed for smart decision-making. Bookkeeping software helps you achieve all this. Gone are the
Bookkeeping Software: Your Business’s Lifeline Read More »
Ready to crack the code on your superannuation? This isn’t just about numbers and regulations- it’s about your future and the dreams you’ve been building towards. We’ve tailored this guide to those of you wanting to know, “How can I withdraw my superannuation?” Regardless of whether you’re approaching a well-deserved retirement or considering an early
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As of June 2023, Australia is home to nearly 2.6 million actively trading businesses. A significant number of those businesses are subject to Business Activity Statement reporting. Think about it: that’s millions of “scorecards” the ATO needs to track to keep the game fair and square. Why? To make sure everyone contributes their fair share
How To Do a BAS Statement in 11 Steps – A Complete Guide Read More »
In the 2022-2023 fiscal year, the Australian Tax Office (ATO) collected over $80 billion in GST revenue alone. Clearly, BAS payments are a significant part of Australia’s economic landscape. Paying Business Activity Statements (BAS) correctly and on time is non-negotiable for business owners. It’s not just about avoiding penalties; it’s also about maintaining compliance and
How To Pay BAS – A Step-by-Step Guide Read More »
Understanding how to calculate superannuation for your employees can feel like untangling a tricky knot! But it’s crucial to untangle. Why? Correctly calculating and paying superannuation is your legal obligation as an employer. It also impacts your employee’s future financial security and positively affects your company’s reputation for being diligent and ethical. So let’s go
How To Calculate Superannuation – Answers for Employers Read More »
Navigating the labyrinth of financial obligations as a business owner can be complex. But have faith in yourself! You’ve built your business from the ground up; mastering the essential administrative task of BAS is just another milestone on your journey. Business Activity Statements (BAS) are documents that tell the Australian Tax Office (ATO) what you
How To Lodge a BAS: Online & by Mail Read More »
When managing your business, dealing with finances and taxes can sometimes feel like deciphering a foreign language. We’re here to demystify one crucial term you might encounter- BAS. What is a BAS? If your business meets certain requirements, you must submit a Business Activity Statement to the Australian Taxation Office (ATO) to report related tax
What Is a BAS (Business Activity Statement)? Read More »
