Latest Blogs

Employee’s Entitlements Annual Leave, Personal/Carer’s Leave and Compassionate leave Annual Leave Annual Leave is a part of the National Employment Standards (NES). NES set up the minimum requirement to annual leave, circumstances when annual leave can be paid &...

Cash flow is the money count of the business. It is measuring the money flowing in and out of the business. In other words, Cash flow is the lifeblood of any business. In order to sustain and grow, a business should have more inflows than outflows at a given amount of...

There are numerous benefits of hiring us rather than having an individual bookkeeper. Internal bookkeepers are basically employees of the business. They are like others looking for promotion and salary increase. With time, they tend to fall in company politics and...

We cannot generally claim deduction on the capital assets immediately and have to claim a deduction over the life of the asset.  You can only claim assets who aid to earn assessable income and have an expected decline in value over time. Assets such as land, trading...

What is Hire Purchase or Leasing Agreement If you own the business and you have the goods through instalment payments, using it as you are paying them and don’t own the goods until you complete the instalments then you are under a hire purchase or leasing agreement....

Cash and non-cash basis (Accruals) are the two methods of accounting for GST. Choosing these methods will make businesses decide how they want to report on GST ( Good and Services Tax). Cash BasisBusinesses with a turnover of less than $2 Million can choose any of the...

Franchisee If you are thinking of having a franchise business, then you should have your single identifier number, commonly called Australian Business Number that is often dealt with other businesses, tax offices and agencies. With the ABN registration, you may be...

As an employer, if you are considering hiring a new employee for your organization, then you should meet tax and super obligations. Before you start hiring and engaging them to work, you need to check their work rights i.e. are they Australian Citizens, Permanent...

our place of resident i.e. home is generally exempt from Tax. However, if you have any investment property, build or renovating your property for profit then may be liable for income tax, Capital gain Tax (CGT) and Good and Services Tax (GST). If you have rented out...

If an entity or an individual who is registered for GST is required to lodge a Business Activity Statement, commonly called BAS either on a monthly, quarterly or yearly basis as a tax requirement by ATO.  We as bookkeepers who provide bookkeeping services can help you...

In this new financial year budget, the government has announced to increase superannuation guarantee rate from 9.25 to 9.50% and the rate will remain the same till 30th June 2018. The rate will gradually increase by 0.5% till it reaches 12%....

Australian shoppers who like to buy goods and services from overseas are facing a renewed push to pay GST. The Australian retailers have constantly complained about the loophole saying it puts them at a disadvantage with the overseas competitors and the federal...

Steps that you should know before selling or closing a business : Lodgement and payment – Business should lodge all lodgements and pay all the required obligations owed to the business account. Some of the lodgements may include Business Activity Statements...

As a business owner, You should know that your BAS is due on the 28th February 2015. Failure to lodge your BAS on time will result in administrative penalty. Worried about lodging your BAS? Cannot pay BAS in full? Need payment arrangement? Yes, we can help you! Call...

Cannot make sense of profit and loss Do expenses seem too high or allocations of it are not correct Cannot budget your weekly or monthly income and expense Too many accounts in profit and loss? If any of your answer is yes then, you should not wait to give Reliable...