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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 »
In the fast-paced business world, taking on payroll management can feel like learning a new language. It’s no surprise that small business owners can spend an astounding average of almost 5 hours per pay period on payroll tasks alone! What if there was a way to streamline the payroll process?
Do Payroll Yourself in Six Steps Read More »
On top of all the responsibilities you juggle as a business owner, does managing your employees’ superannuation, in particular, leave you scratching your head? For example, how would you answer an employee when they ask about how to apply for superannuation early? We’ve tailored this guide for small to medium-sized Australian business owners like you.
How To Apply for Superannuation: What Your Employees Need To Know. Read More »
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 »
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 »
If your business is struggling right now, know you’re not alone. The Australian government has launched the JobKeeper program to help businesses and employers continue to pay their employees and stay in operation while cash flow is low or even obsolete.
Government financial support during COVID-19 Read More »
