Changes to the Australian Superannuation Guarantee on 1 July 2021

Kieran BowdenSuper, Uncategorized

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An increase to the superannuation guarantee (SG) is set to go ahead from 1 July which will see the base rate rise from 9.5 per cent to 10 per cent. Kurtis from 542 Partners breaks down what Employers should consider doing before the end of the financial year in preparation for the super rate increase.  

FBT 2021 PDF

Kieran BowdenForms, Guides, Houses Downloadable Content, Industry Info, Templates

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The Fringe Benefits Tax (FBT) year ends on 31 March, which means the ATO looks closely at whether or not every employer who should be paying FBT is, and whether they are paying the right amount. To assist, we’ve outlined the ATO ‘red flags’ for employers and employees when it comes to FBT. Download our FBT 2021 PDF

FBT Client Questionnaire

Kieran BowdenForms

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The Fringe Benefits Tax (FBT) year ends on 31 March, which means the ATO looks closely at whether or not every employer who should be paying FBT is, and whether they are paying the right amount. To assist, we’ve outlined the ATO ‘red flags’ for employers and employees when it comes to FBT. Download FBT client Questionnaire 2021 form.

The Balancing Act: The 2021/22 Budget Detailed Review

Kieran BowdenAustralian Budget, General

The Balancing Act The 202122 Budget Detailed Review

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in capital assets Introduction of a ‘patent box’ offering tax concessions on income derived from … Read More

How to: Invite a user to your Xero file

Kieran BowdenBusiness Technology, General

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As lovers of technology, we’re big fans of helping you improve in efficiency and business processes. So with this in mind, we’ve put together another quick video, showing you step by step how to easily invite a user to your Xero file – a question we’re frequently asked on how to do. Check it out.

How to: Track P&L in Xero

Kieran BowdenBusiness Process, Business Technology

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Managing any business requires some number crunching and tracking the money going in and out of your company to keep your finances on track. A common question we get asked, is “how can I view my P&L by my different business units?” We’ve put together a simple step by step guide on how to set up tracking categories in Xero to easily … Read More

Fringe Benefits Tax 2021: What you need to know

Kieran BowdenBusiness Audit, Tax

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We know that no one likes to pay tax and certainly no more tax than they should. But very few people want to be on the wrong side of the Australian Taxation Office (ATO) audit where fees and penalties are paid for neglecting your obligations. The Fringe Benefits Tax (FBT) year ends on 31 March, which means the ATO will … Read More

A simple step to save you thousands. Let’s talk subcontractor statements.

Kieran BowdenBusiness Process, Business Structures

Subcontractors Statement

A subcontractor statement refers to the written contracts that subcontractors provide to their principal contractor. These statements apply to a specified period of subcontracted work. As the principal contractor, you need to be careful about complying with the statutory requirements of these statements. Subcontractors declare through their subcontractor statements that they have met their Worker’s Compensation, Payroll Tax, and Remuneration … Read More

Dext: formerly known as Receipt Bank

Kieran BowdenBusiness Process, General

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As you may know, Receipt Bank recently announced their rebrand. Now known as Dext, the new name is a fusion of two words: the dexterity that accountants and bookkeepers bring to their client’s challenges and the next generation attitude that so many have. So, what does this mean for you? Jess Heapy, our ReceiptBank (Dext) 2020 Up and Coming Accountant, talks … Read More

Efficiency in business

Kieran BowdenBusiness Process, Business Structures

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A wise man once said, “Don’t confuse being busy with being productive – they’re not necessarily related.” There’s a lot you can do as a business owner. But the reality is, you can’t do everything. We often see business owners wearing multiple hats to fulfil different roles within their business at one time or another. But for your business to be an efficient, well-oiled machine, … Read More