Read latest COVID-19 business update for you. Get all information on bookkeeping tips, new tax measures, government announcements, and many more.
DIRECTOR ID REGIME The government has implemented a new director ID system with the goal of eliminating the use of false and fraudulent director identities as well as reducing illegal activities like phoenix activity. Regardless of whether they modify companies, stop...
REPAYMENTS DISREGARDED There are several options for dealing with this issue when a private corporation makes a loan to a shareholder or an associate. To begin, the shareholder can simply repay the debt in full prior to the company's filing deadline. Another...
The contribution changes proposed in the May 2021 Federal Budget and enacted in February 2022 are by far the most significant since the superannuation reform took effect on July 1, 2017. These, unlike other recent superannuation adjustments, provide chances for...
There are different residential rental property assets that will be discussed in the blog by our professional bookkeepers in Melbourne. Screws, nails, bolts, glue, adhesive, grout, or cement are used to annex or attach fixed items, but not just for temporary...
Rental and other rental-related income refer to the total amount of rent and associated payments that you receive or become entitled to when you rent out your property, regardless of whether it is paid to your agent or you. In your tax return, Bookkeeper in Melbourne...
Bank reconciliation is a comparison of a company's accounting records for its bank accounts and the bank's updates to those accounts. It is an essential process for businesses to go through, but it can be lengthy and laborious. Here are some ideas and tactics...
What are the Key Performance Indicators (KPIs)? A set of quantifiable statistics used to measure a company's overall long-term performance is referred to as Key Performance Indicators (KPIs). KPIs are used to determine a business's financial, strategic, and...
Salary Sacrifice Arrangements are also known as total remuneration packaging or salary packaging. It is an agreement between an employer and an employee in which the employee agrees to forego a portion of their future pay or wage entitlement to wage or salary. Our...
What is a Fringe Benefits Tax (FBT)? A fringe benefit is a payment to an employee that is not paid in the same way as a salary or wages. A fringe benefit is a benefit granted in connection with work, as defined by the Fringe Benefits Tax (FBT) legislation. This...
As a business owner, you have to wear various hats, from managing day-to-day operations, making business strategies to keep everything running smoothly. It is difficult to find time to organise your business books, manage cash flow, and analyse numbers. Moreover, it...