Automating Bank Reconciliations – How and Why?
The Gold Standard for Efficiency: Automating Bank Reconciliations Keeping your business finances in order is essential. But let’s be honest—manual bank reconciliation is a tedious process. It’s like panning for gold, sifting through endless transactions to find a match. The good news? Automation can turn this time-consuming task into a seamless process, saving you hours […]
Contractor or Employee – Find the Right Fit
Contractor or Employee: Making the Right Choice for Your Business Determining whether to engage a worker as a contractor or an employee is crucial for Australian businesses. It’s not just a legal requirement; it shapes working relationships, impacts employer obligations, and ensures fairness for workers. But how do you make the right decision? Let’s break […]
ATO Targets Late BAS with Monthly GST Reporting
ATO Crackdown: Non-Compliant Businesses Face Monthly GST Reporting from ATO More frequent BAS, bigger bookkeeping bills — why staying compliant with monthly GST reporting is now the gold standard for small business. ATO Gets Tough on Late BAS Lodgers The Australian Taxation Office (ATO) is sharpening its focus on businesses that fall behind on their […]
Tax on Superannuation 101
Understanding the Basics: Tax on Superannuation Superannuation is the golden ticket to a secure retirement, but understanding how it’s taxed can feel overwhelming. The good news? The Australian super system is designed to be tax-efficient, helping you maximise your savings over time. Let’s break it down into simple terms so you can make informed financial […]
FBT Return – To Lodge or not to Lodge?
Should You Lodge an FBT Return? The Golden Rule for Staying ATO Compliant Fringe Benefits Tax (FBT) might not be top of mind for every business owner, but overlooking it can lead to costly mistakes. Lodging an FBT return isn’t just about compliance—it’s a safeguard for your business. So, should you lodge an FBT return, […]
Fringe Benefits Tax (FBT) 2025
Fringe Benefits Tax (FBT) 2025 The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. Important FBT issues FBT Exemption for Electric Cars Employers that provide employees with the use of eligible electric vehicles (EVs) can potentially qualify for an FBT exemption. This should normally be […]
Protect Your Business from Payment Redirection Scams
A Costly Mistake: The Rise of Payment Redirection Scams Scammers are getting smarter, and businesses are paying the price. Payment redirection scams cost Australian businesses millions every year. In 2022 alone, payment redirection scams cost Australian businesses $224 million, with small and micro-business losses increasing by 95% from the previous year. A recent Western Australian […]
ATO Reminders: Essential for Small Businesses
ATO’s Small Business Focus Areas for 2025: Stay Compliant and Secure Your Business Future The Australian Taxation Office (ATO) has released its key focus areas for small businesses in 2025. Understanding these priorities can help you avoid costly mistakes and ensure your business stays on the right side of tax compliance. Why Staying ATO-Compliant is […]
Debt-Free: Tips for Small Business Owners
Becoming Debt-Free: A Guide for Small Business Owners Managing debt can be one of the most stressful challenges for small business owners. While it might feel overwhelming, there are practical steps you can take to regain control. With the right strategies and support, you can handle debt effectively, cope with the associated stress, and steer […]
Party, Presents – and TAX! Oh My!
Celebrate Smart: FBT and Tax Considerations for End-of-Year Parties and Gifts When the end of the year approaches, business owners often look forward to hosting work parties and giving gifts to show appreciation to their teams. While these gestures foster camaraderie and recognise hard work, they come with tax obligations that should not be overlooked. […]