A Quick Guide To Fringe Benefits Tax in Australia
6 Steps to Hassle-Free BAS Lodgements Facebook Twitter LinkedIn Fringe benefits add value to your employment package, offering perks beyond your salary. Here’s all you need to know about Fringe Benefits Tax (FBT) in Australia. In today’s competitive job market, employers use fringe benefits to attract and retain top talent. These benefits range from leased […]
6 Steps to Hassle-Free BAS Lodgements
6 Steps to Hassle-Free BAS Lodgements Facebook Twitter LinkedIn The quarterly BAS deadline is fast approaching, with the next lodgement due on February 28. Business Activity Statements (BAS) are a vital part of managing your business’s tax obligations. Lodging your BAS accurately and on time is crucial to avoid potential penalties and to maintain proper […]
The 7 Essential Steps of Payroll Processing
The 7 Essential Steps of Payroll Processing Facebook Twitter LinkedIn Payroll processing is a vital function for any business, playing a crucial role in connecting employers, employees and the Australian Taxation Office (ATO). Accurate and timely payroll management is essential in meeting your various obligations. Importantly, precise payroll data is essential to generating reliable financial […]
Commercial Vehicle Deductions: A Small Business Case Study
Commercial Vehicle Deductions: A Small Business Case Study Facebook Twitter LinkedIn Of the 20 million cars on Australian roads, more than 4 million are used for business and commercial purposes (ABS Data, 2021). Van, utes, trucks and cars are a permanent part of the Aussie business landscape. But are business owners maximising their write-offs and […]
Commercial Vehicles
Commercial Vehicles Commercial vehicles are permanent feature of the Aussie business landscape. From trusted utes and commercial trucks to vans and sedans, for many business owners vehicles are considered a standard cost of doing business. Yet they can also be a common tax trap. Without the right knowledge of the various deductions and thresholds, chances […]
Protecting Payroll Data: Practical Steps For Your Business
Protecting Payroll Data: Practical Steps For Your Business Facebook Twitter LinkedIn A cybercrime is reported in Australia every six minutes according to new data published by the Australian Signals Directorate, and the SME sector is especially vulnerable. During the 2022-23 financial year the cost of cybercrime to businesses increased by 14%. Per cybercrime report, small […]
Our Guide to the Right Bookkeeping Software for Your Business
How to choose the best bookkeeping software for your business Facebook Twitter LinkedIn In the fast-paced and ever-evolving world of business, effective bookkeeping is fundamental to financial success. As technology continues to advance, bookkeeping software has become an indispensable tool for businesses of all sizes. However, with seemingly endless options available on the market, choosing […]
Understanding Fringe Benefit Tax: A Small Business Case Study
Understanding Fringe Benefit Tax: A Small Business Case Study Facebook Twitter LinkedIn Far from an additional tax burden to your business, Fringe Benefits can be a useful way to attract, retain and reward employees and build a positive workplace culture. When employees receive fringe benefits tailored to their needs and interests, they are more likely […]
Christmas Party tax rules and deductions explained
Christmas Party tax rules and deductions explained ‘Tis the season to be jolly! But nothing deflates Christmas spirit faster than a large tax bill… Staff Christmas parties are a staple of the festive season, and business owners who don’t want to play the role of Scrooge are expected to get into the spirit. But not […]
The ATO is increasing its debt collection efforts
The ATO is increasing its debt collection efforts, and small businesses need to act “I am unapologetic about our shift to exercise firmer debt collection actions when appropriate.” That’s the message from Commissioner of Taxation Chris Jordan AO who signalled the ATO’s intent to step up its debt collection efforts, and small businesses should be […]