Blog
Cyber Security
We live in a digital world where our company’s data and (crucially) our customers’ data is under constant attack. Hackers are always looking for new ways to break into your...
What is Personal Services Income?
Personal services income (PSI) is income received as payment for individual personal efforts and skills. It applies to many contractors who provide services as their means of earning an income....
Your monthly activity statements are due soon.
Your monthly activity statement is due by the 22nd or 25th of this month, depending on whether you lodge your activity statements monthly or quarterly. If you lodge monthly BAS,...
Business tips: Using forecasting to help your decision-making
Producing regular management information is one way to help improve your business decision-making. But looking at historical numbers can only tell you so much. In business, you want to know...
Is It Time to Put Your Prices Up?
Wage Reviews The Fair Work Commission’s annual wage review has resulted in two announcements made this month: The National Minimum Wage will increase by $40 per week, (an increase of...
Get Your Business Records Ready for Your Tax Return 2022
Organising your documents now will mean you can get your tax return completed earlier and access any refunds due or start planning for tax payments. Getting your business records up...
It’s Nearly Time to Finalise STP
It’s nearly time to make a finalisation declaration for Single Touch Payroll. There is no need to issue payment summaries (some people still know them as Group Certificates) to employees...
Why You Should Check Supplier ABNs
Are you in the habit of checking your suppliers’ Australian Business Numbers? When you make business purchases, you should receive a valid tax invoice from the supplier to prove that...
Superannuation eligibility changes could impact your payroll
In addition to planning for the expected statutory super rate rise to 10.5%, some employers need to prepare for a significant change from July 2022. Removal of the $450 Monthly...
Super Guarantee Changes – Don’t get caught out
The superannuation guarantee statutory rate remained at 9.5% from July 2014 to June 2021. However, plans have been in place for some years now, to increase the rate to 12%...