Legislation

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eofy tips and reminders

July-August Bookkeeping Tasks

July 16, 2019

Important dates not to be missed. BAS Reconciliation and Common Issues All businesses registered for GST must lodge their Business Activity Statement (BAS) by 28 July 2019. If you have made quarterly BAS lodgements, this final lodgement should be easier and quicker to reconcile. However, make sure you take the following steps to avoid common […]

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asset write-offs

Tips to Coding the Instant Asset Write-Off Post Budget

April 16, 2019

Legislation passed at the start of this month, regarding the instant asset write-off for small and medium sized businesses with a turn-over of less than $50million. There are now three tiers of threshold that bookkeepers, accountants and tax agents need to be aware of for this financial year and next.   Thresholds       […]

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single touch payroll

A busy time for bookkeepers with Single Touch Payroll

April 9, 2019

With the introduction of Single Touch Payroll (STP) Xero announced at their recent road shows that they are tipping the busiest year of all time for bookkeepers. There are up to 90,000 small business currently using paper for their payroll that will need to move across to a digital system. These businesses together with existing […]

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Payroll

Legislation passes for Single Touch Payroll for all Australian businesses

March 21, 2019

Last month it was legislated that Single Touch Payroll (STP) will be extended to employers with 19 or fewer employees, starting from 1 July 2019. This means that no longer will any business be reporting their payroll activity once a year to the ATO, instead every business in Australia will need to send a report […]

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