The ATO’s FBT Hot Spots 2018
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees. Motor Vehicles – using the company car outside of work Just because your business buys a motor vehicle and it is used as a work vehicle, that alone does...
How to Deal With an Overdue Company Tax Return
When it comes to submitting tax documentation to the Australian Taxation Office (ATO) for your business, it often feels like a never ending stream of IAS,BAS and Tax Returns – among many others. Keeping up with business taxation paperwork across all four quarters of...
Xero Vs Quickbooks Online Vs MYOB:Increasing Trend of Online Accounting Softwares
The dawn of new millennium in 2000 was followed by a rapid change in business accounting methods with the introduction of Goods and Services Tax. Since the last decade and a half, a considerable number of large and small scale businesses have computerized their...
ATO Data Matching Aims For Tax Cheaters
"In this world nothing can be said to be certain, except death and taxes. ---- Benjamin Franklin While tax minimization in the legal frame is what we are aiming for, a lot of Australian taxpayers still dreaming about cheating on taxes. Now ATO gives you more reasons...
Attention Employers, SuperStream is Coming
What is SuperStream? And How Can I be SuperStream Compliant? SuperStream is a new law introduced by the ATO so that employees can be notified by their super fund when their super is paid. So all employers will need to pay superannuation contributions electronically...
7 Steps For Starting And Growing A Successful Business—- Unique Tips From Your Tax Accountant
Starting your own business is exhilarating and demanding at the same time. Starting a business takes a lot of planning, from making financial decisions to competing for all the required legal activities to register and run your business. From writing a business plan...
Accounting Software Assures Growth and Profits
The business world, from small and medium enterprises to big conglomerates, relies on accounting software to automate and speed up computing processes and procedures while producing accurate results. Listed below are the four (4) popular accounting/bookkeeping...
Bank Reconciliation- Why you need it and what it does
If you are a business man, you would have always faced a lot of moments in your life when you caught yourself staring at your bank statements and bookkeeping records, trying to make sense of why they do not seem to tally with one another? If you have, you are not...
Bookkeeping Services – How a Professional Service Can Help You Save Time, Money and Trouble
Why Should You Outsource Your Bookkeeping Matters to The Pros? In the modern times, bookkeeping has become an increasing need for any and every business no matter how big or small. There is a reason why many firms spend millions of dollars on a formidable army of...
Important Dates and Tax Deadlines
2020 Tax Return
For your income between
01 July 2019 – 30 June 2020