Employers in all states and territories of Australia are required by law to remit payroll taxes to the Australian Tax Office (ATO).
Individual state and territory governments collect the tax in relation to employees’ assessed earnings that are paid or payable by their employers. Continue reading
This refers to the way that small businesses report their staff payment details to the ATO for taxation purposes.
Single Touch Payroll has been in place since 2017 in Australia and in that time, it has been rolled out to include all small businesses with more than 20 employees. Continue reading
As a business owner, pouring over spreadsheets is probably not your favourite pastime.
Think of spreadsheets as your business’ scorecard – a detailed account of how well you’re doing. Continue reading
If you don’t have a background in accounting, a lot of the bookkeeping jargon and accounting terminology might be somewhat confusing.
For example, you may think you know what ‘accounts’ means, but the definition is very specific in bookkeeping, and concepts like ‘remittance’ and ‘reconciliation’ might go straight over your head. Continue reading