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Choosing the right type of accountant for your business is like choosing the right tool for a handyman job. While some tools may look the same, there can be significant differences in how they work. For example, choosing a metal cutting blade to cut through some timber will waste energy, time, and resources.
Types of Accountants: What You Need To Know Read More »
End of quarter means it’s time to submit another Business Activity Statement for your business. These are issued by the Australian Tax Office and are essentially a facility for you to report the money that has come in and gone out of your business to cover a range of tax liabilities. Failure to submit your
BAS Preparation Checklist Read More »
Business Activity Statements (BAS) are a source of anxiety for many modern business owners. That stress only gets worse if you have not been keeping accurate records of your business finances and putting money aside to pay for it when it is due. Any business that is registered for Goods and Services Tax (GST) is
What Does BAS Stand For? Read More »
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. Employers have to calculate their own tax liability, and they must
When are payroll taxes due in Australia? Read More »
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. Single Touch Payroll (STP) is a
What is single touch payroll tax (STP)? Read More »
Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses. One of the forms of reporting and documentation that should be
How to Create a P&L Statement Read More »
