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Do your clients pay cleaning, IT, or freights contractors as part of their business? These and other contractor industries are now included in the Taxable Payment Annual Report (TPAR). As part of the ATO’s Black Economy Taskforce it was announced that the TPAR would be extended to more industries requiring payments to contractors to be […]
Read MoreImportant 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 […]
Read MoreLegislation 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 […]
Read MoreWith 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 […]
Read MoreLast 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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