What is TPAR Taxable payments annual report or TPAR is an industry-specific report for businesses to report the total amounts paid to contractors. TPAR was introduced to assist the ATO with their data matching processes. The reach of TPAR has been extended over the years to include more industries. Relevant Industries If your business is in the following industries, you may need to lodge a TPAR Building and constructions… Read more
So 30 June has passed, its now time to finalise EOFY and handover to your BAS Agent and or Accountant. Here are the next steps for your review/action. XERO TIP – save all documents in Files for easy collaboration & archiving Bank, Loan and Credit Card Statements Provide a copy of all bank, loan and credit card statements for June. Even if there is a bank feed, a… Read more
Important Information for Business Owners With the New Financial Year having started on 1st July 2022, there are new and updated changes and obligations for employers. Please see below a comprehensive list business owners to consider and discuss with your Bookkeeper. What’s Changing End of Year Payroll Cut Off Whichever day you normally/regularly pay your employees – continue to pay on that date. Do not try to pay your employees… Read more
Bookkeepers can be highly beneficial for businesses of any size. They offer expertise and insight into areas that you may not have experience in. They can also take some tasks off your to-do list, freeing up your time and energy to focus on other matters. Here are 4 benefits to hiring bookkeepers to help you manage your business. Expertise A bookkeeper is an expert at managing, sorting and recording your… Read more
FBT Implications of Christmas Parties As the end of the year is fast approaching, businesses are getting ready for their Christmas party and are organising gifts for their staff. With this, it’s important to be aware of the fringe benefits tax (FBT) implications of these. Because there is no separate FBT category for Christmas parties, here are some ATO guidelines to keep you on track: Exempt property benefits– The costs… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia-Singapore Travel Lane Begins on 8 November Australia and Switzerland will join the eleven countries – including the United States, the United Kingdom, Spain, Italy and France – that have signed on to Singapore’s vaccination travel lane arrangement that replaces quarantine with COVID-19 testing pre-departure and on arrival. The… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Melbourne to Ease Lockdown Melbourne is set to lift its stay-at-home orders by Friday. This comes as Victoria’s vaccination rate is set… Read more
With the implementation of the Director Identification Numbers (DIN’s or Director ID’s) pending, it will be important to understand the new obligations for those operating in the capacity of a Director, as failure to apply for a DIN within the required time frame will leave you open to both criminal and civil penalties. It is one of the first initiatives under the Modernising of Business Registers Program and will be… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Sydney Reopens After Months of Lockdown Cafes, gyms, and restaurants in Sydney opened for fully vaccinated customers on Monday after months in… Read more
Casual Conversion – Important Date to Remember An important date is now approaching in relation to these new laws. By 27th September 2021 employers must have completed their assessments of any casual employees that were employed before 27th March 2021 to determine whether they are eligible for an offer of casual conversion. Within 21 days of 27th September, the employer should have written to their employees to advise them of the outcome of… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NSW Government Support The NSW Government has support for individuals and businesses affected by COVID-19. Visit the NSW Government website to learn more about these measures, including disaster Payments, Pandemic Leave Payments and Dine & Discover NSW vouchers. Ask us if you have any questions. JobMaker Hiring Credit’s Second… Read more
Welcome to our first Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Five states in lockdowns After months of keeping the coronavirus under control, five out of eight Australian states and territories are battling the highly infectious Delta variant. In order to prevent the spread, lockdowns in three large cities have been implemented, affecting more than 20 million Australians, or about… Read more