Entries by Sophie van den Bogaerde

Employee expenses and fringe benefits

Do you pay for or reimburse your employees for expenses such as gym memberships, office items, or phone and internet costs? If so, you may be providing a fringe benefit. The ATO provides webinars for small business owners on various topics, including what providing fringe benefits means for you. You can read more on the […]

Should I be using QuickBooks?

If you’re a business owner, you’ll undoubtedly benefit from our professional bookkeeping and accounting services. You’ll benefit even more if you come to us with everything in order! QuickBooks is an excellent solution for keeping things organised, rather than trying to maintain a DIY paper filing system or trying to scramble records together right before […]

Motor vehicle expense claims

Will you be claiming motor vehicle expenses? Doing so can be tricky, especially if you use your car for both personal and business purposes. The ATO has provided a comprehensive fact sheet around claiming motor vehicle expenses as a business owner. Registration, fuel, loan interest, and servicing are all among the costs you can claim. […]

Why everyone’s talking about Xero

If you’re a small business owner, chances are that you’ve had many people ask you whether you use Xero. Xero is the user-friendly software employed by business owners to perform bookkeeping and accounting tasks. Xero’s capabilities include: Submitting and calculating company expenses Submitting detailed timesheets and managing payslips Calculating leave balances and applying for leave […]

Withholding employee tax

Are you unsure about the amount you should be withholding from your employees’ wages for tax contributions? Making sure you withhold the right amount of tax is the most important way of ensuring that your employees’ EOFY requirements are met, and they aren’t left owing the ATO money.  You can work out how much tax […]

We’re here for you

In this return of harsh lockdowns and uncertainty, we’re here for you. The COVID-19 Delta variant’s arrival has impacted a huge amount of business, both big and small. While some support for employers is available, it can be difficult to find unless you speak to a professional. We’re constantly staying informed with the latest in […]

Consequences for employees making late super payments

Last month we spoke about the consequences of avoiding payroll tax for employers. However, if you’re an employer, it’s equally important to make sure that you’re paying your employees’ super on time. Missing the due dates for superannuation contributions results in extra fees for your business, such as a ‘super guarantee charge.’   Learn more

The ATO’s advice on getting your tax returns right

Avoiding mistakes in your tax return is important. Part of getting your tax return right is consistently maintaining all your records – something we can help you with. The ATO cites the following as the most important things to do: Declare all of your income accurately, including capital gains. Record what funds have been taken out […]

Company Money vs. Your Money

When you’re an owner, a shareholder, or director of a company, it’s easy to blur the lines between your company as a “separate legal entity” and yourself as a person. It’s important to remember that company money cannot be used flippantly for personal transactions, as the funds belong to the company, not you. The Australian Tax Office requires that all […]