The issue with accountants writing bank letters
When applying for a loan, a bank will use different ways to verify the income of a borrower. With the continued uncertainty of COVID and the desire of many lending institutions to “shift” the credit risk away from the lender, we are seeing more and more situations where Accountants are being asked to provide letters […]
Why paying superannuation on time for your employees is crucial
As a business owner, one of your primary responsibilities is to ensure that your employees are taken care of. This includes paying them a fair wage and providing them with benefits like superannuation. Superannuation is a retirement savings plan that is mandatory for businesses to provide for their employees in Australia. It is a way […]
News Alert: ATO cracking down on those dodging the FBT
The Australian Tax Office (ATO) is intensifying its efforts to crack down on businesses that are not correctly paying Fringe Benefits Tax for vehicles provided to their employees. Offering dual cab utes to workers can lead to substantial annual savings for businesses, as they are exempt from fringe benefits tax. However, this tax exemption is […]
Mastering Cash Flow Management: A Guide for Business Owners
In the world of business, effective cash flow management is a crucial factor that can make or break a company’s success. As an accounting firm dedicated to helping businesses thrive, we understand the significance of sound cash flow practices. In this blog post, we’ll dive into the essentials of cash flow management and provide actionable […]
Our Transition from Paper Mail
Read all about our exciting transition from Paper Mail to our new Collaborate Client Portal. New Client Portal
How to increase your customers
Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business. One of the key areas you can focus on, is how to increase your customers. In today’s blog we will take you through 2 key ways on how to do […]
Understanding the Requirement to Lodge a TPAR with the ATO
The Taxable Payments Annual Report (TPAR) is a crucial regulatory requirement in that businesses must comply with to ensure transparency and accountability in the payment of certain services. It is a comprehensive report that aids the Australian Taxation Office (ATO) in monitoring and controlling the cash economy. In this article, we will delve into the […]
5 Key Changes from 1 July 2023
Discover the latest updates in the financial realm as we unveil the five crucial changes taking effect from 1 July 2023. 1. The Superannuation Guarantee Rate increases from 1 July from 10.5% to 11%. This means that as an employer you are required to put a higher amount into your employee’s Super Fund each quarter. […]
Crypto and your Tax Return
The ATO considers crypto investments as an asset for tax purposes. Transactions involving crypto may be subject to Capital Gains Tax (CGT). If you dispose of any crypto, you may be required to pay CGT on any capital gain. The ATO also requires you to keep accurate records of acquiring the crypto and any other […]
Top 9 considerations for businesses before EOFY
The end of the financial year can be overwhelming for businesses, with numerous considerations that can leave you unsure of where to start. To ease the process, we have compiled a useful guide encompassing various aspects you should prioritise. Beyond fulfilling essential requirements, the end of the financial year presents an ideal occasion to realign […]