Quarter 3 BAS: January to March 2014

To all our BAS clients: the 3rd Quarter Business Activity Statements are due for lodgment and payment on Monday 26th May 2014. Start preparing your income and expenses that relate to the above quarter, and get them into our office before Wednesday 30th April, so we can get started.

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Super – when does it go to the ATO?

If your super account is under $2,000 and you are considered an ‘un-contactable’ or ‘inactive’ member, your balance will be sent to the ATO. Un-contactable Members: Haven’t had a contribution or rollover into their super account in the past 12 months, and The fund has either, never had an address for them, or two pieces […]

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Quarter 3: Business Activity Statements

A reminder that 3rd BAS Quarter (1st January to 31st March 2014) is coming up for lodgment and payment on the 28th April 2014. Those who lodge via a Tax Agent have until the 28th May 2014. Start thinking about preparing your BAS information, so you can get your BAS lodged and paid on time.

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Record Keeping To Meet Your Tax Obligations

Record keeping in a business is important and you have a responsibility to keep certain records for your tax obligation, such as: Income and Sales, Expenses and Purchases, Asset Purchases, Contracts and Agreements, Minor Deductable Expenses, Wages & Allowances and Superannuation Guarantee, Employee Records, Motor Vehicle Records

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The challenges in running a business from home…

Yes, you save on overheads, commuting and have flexibility in working hours, but.. working from home, also has its challenges, such as: Sense of isolation, Interruptions from family and friends, Risk of stress, ill-health and strained family relationships. To read more on how you can manage these issues before they become a problem, click on […]

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MYOB’s Top 10 small business tax deductions in 2013!

We liked MYOB’s blog so much we thought it was well worth sharing: Click link below to read more: Prepay expenses Expenses non-paid deductible Goods and Services Contribute to Superannuation Review Assets Schedule Stocktake of Inventory Value Stock Review Debtors and Write Off any Bad Debts Deduct Staff Payment Interest Update Motor Vehicle Claims Link: […]

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Great Tax tips for Australian businesses released by the ATO

The ATO have launched a new campaign to help Australian businesses meet their tax obligations. Resolution 1 – lighten your tax debt weight in 2014. Tips: Avoid penalties and interest by lodging and paying on time. Contact the ATO if you can’t pay on time. Keep the GST you collect separate from your business account. […]

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Very Warm Welcome to 2014

A very warm welcome to 2014, we hope everyone enjoyed the festive season. The ATO have released a series of great mini videos to help small business understand their tax and super obligations such as: Business deductions Tax concessions Buying and Selling a business Record keeping And much more – click on the link to […]

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Merry Christmas!

We are closing our office on Monday 23rd December 2013, and reopening at 9am on Monday 6th January 2014, so our team can enjoy a well deserved break after a great and busy year. Thank you to all of our clients for your business this year, we wish you all an enjoyable, safe Christmas, and […]

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ATO requirement for bank account details for refunds

All tax returns must supply an Australian bank account number to the ATO if a refund is expected. Refunds will now be processed by Electronic funds transfer (EFT) which is the fastest, most-secure way for clients to receive refunds. This means you will get your refund much faster if you provide your bank account details. […]

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