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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, it is only the July BAS. If you lodge quarterly BAS (including PAYG), it is only the June BAS. If you lodge monthly IAS and […]

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 what the future holds. And to make truly informed decisions about your future strategy, it’s important to use forecasting tools to project your data forwards […]

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 5.2%) from 1 July 2022 award minimum wages will increase by 4.6%, which is subject to a minimum increase for award classifications of $40 per […]

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 to date and accurate will allow your Tax Agent to work with you proactively to plan for the coming year, which will continue to be […]

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 you have reported through STP.    Employers must complete the finalisation declaration by 14 July for employees.   Employers with a mixture of employees and closely held […]

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 your purchase is a business expense. The ABN holds certain information, including contact details, business structure and GST registration. Many business owners don’t routinely check […]