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Effective 1st July 2018, Australian shoppers and overseas retailers initiate changes as the $1000 GST free threshold on low-value imported goods are being removed. Overseas retailers who sell more than $75,000 in goods annually in Australia will be required to collect...

The business activity statement (BAS) is a format issued by the Australian Taxation Office (ATO) on either a monthly or quarterly basis. Its purpose is to summarize the amounts of GST payable and receivable by you for a certain period, as well as a range of other...

The new $20,000 instant asset write-off means that assets valued less than $20,000 can be claimed as an immediate tax deduction. As part of the federal budget, the Australian Government announced that small businesses with an aggregated turnover under $2 million would...

Pay as you go (PAYG) installments are a regular payments making system towards your expected annual income tax liability. It only applies to you if you earn business and investment income over a certain amount. If you pay PAYG installments, you still need to lodge an...

The Fair Work Commission has lifted the minimum wages for all Australians from $656.90 a week or $17.29 an hour to $672.70 a week or $17.70 an hour. It increases our Wallets by adding $15.80 more per week. Approximately 2 million people who are on the minimum wage...

Reliable Bookkeeping Services are going to dig deep into some of the common questions being asked since the 9th of May 2017, when the changes were announced in the Federal Budget. The dust has finally settled on the new legislation to the budget changes to...

Using payroll software, the productivity of individual employees can be enhanced, which contributes to the organizational objectives. Regular monitoring helps in a constant check before it is too late. Traditional companies detect minute discrepancies after a shocking...

Australian Government sets out the economic and fiscal outlook for Australia and includes expenditure and revenue estimates for the current financial year. It’s the Federal budget for the current year along with three forward financial years for a stronger economy....

You all might agree with me that the word "Pet" is no more effective in today's world. It does not apply in the modern world anymore and owners take extreme Pet care  leave for maintaining their safe health. As science is studying more about them, we find them as...

If you have invested in a rental property with an intention to earn from rent or have currently rented out your current property, you'll need to keep your records right from the start and work out on the expenses that you can claim as deductions, and declare your...

As all the employers, tax practitioners and digital service providers get ready for Single Touch Payroll reporting along with bookkeeper have been co-designed with many people includes tax practitioners. On 1 April 2018 employers will need to do a headcount to...

Regulatory authorities have stipulated two methods of accounting for GST: one is the cash basis and another one a non-cash basis (accruals). Whichever way you use it will affect when you report GST. Organizations with an average turnover of less than $10 million...

In most of the traditional organizations, 50 percent of an HR manager’s time is spent on processing their employee’s information. This gives rise to confusion and has to answer unhealthy questions. The HR manager faces a dilemma on whether they need to spend more time...

While the second generation software has been practical and useful in the past, XERO Bookkeeping in North Melbourne has required a relatively more complex level of ‘understanding of accounting’ and therefore has generally been targeted at the accountants as opposed to...

Factually, when somebody talks about ‘bookkeeping’ in front of anybody, images of an assortment of accounting files appear in front of your eyes along with an accountant making entries of the transactions and making calculations to obtain the percentage of profit or...

Organizational budgets for the current year are prepared by evaluating their actual performance over the past year. A process of making a budget is highly regimented and follows a schedule so that the New Year’s budget is ready for use by the beginning of the next...

Following are 3 obstacles faced by small businesses & how you can get rid of them: The issue of Cash Flow - Cash flow is among the most significant aspects of a triumphant startup business. Close to 82 percent of small businesses that fail is because of ‘poor cash...

Firstly, we congratulate you on the decision of initiating your online store. It needs a lot of determination and grit to reach the point that you are now. Following is the list of 10 businesses & accounting steps for enhancing your confidence level and make you...