When it comes to submitting tax documentation to the Australian Taxation Office (ATO) for your business, it often feels like a never ending stream of IAS,BAS and Tax Returns – among many others. Keeping up with business taxation paperwork across all four quarters of the year requires a lot of time and attention, so it’s
The dawn of new millennium in 2000 was followed by a rapid change in business accounting methods with the introduction of Goods and Services Tax. Since the last decade and a half, a considerable number of large and small scale businesses have computerized their account details and transactions. For many, the thought of computerizing their past data was tiring and unnecessary. Moreover, many businessmen refrained from it because of extra work introduced by GST. However, use of computerized accounts can save your business from total failure. Especially in case of small scale business, many think additional reports like BAS are unnecessary. The computerization of small business accounts can thoroughly provide automatic reports to government, which greatly cuts short the hassle and cost of compiling ATO cost.
“In this world nothing can be said to be certain, except death and taxes. —- Benjamin Franklin While tax minimization in the legal frame is what we are aiming for, a lot of Australian taxpayers still dreaming about cheating on taxes. Now ATO gives you more reasons to stop that. ATO data matching tools are more powerful than ever, if you cheat, you will get caught. Not mentioned tax fraudulence is a serious offence to the law.
What is SuperStream? And How Can I be SuperStream Compliant? SuperStream is a new law introduced by the ATO so that employees can be notified by their super fund when their super is paid. So all employers will need to pay superannuation contributions electronically (EFT or BPAY), that is Super Stream compliant. The benefit for employers is that with SuperStream you can pay all super contributions in one transaction, even if they’re going to multiple super funds. To comply with SuperStream requirements, you can choose one of the following options.
Starting your own business is exhilarating and demanding at the same time. Starting a business takes a lot of planning, from making financial decisions to competing for all the required legal activities to register and run your business. From writing a business plan to financing it, all require you time and effort. The successful businesses
PayPal, eWay, Stripe, Authorize.Net, or Ezidebit: Which Is The Best For Your Business Payment Solutions?
Nowadays, more and more businesses realize that going online is the trend, and it's inevitable, even you are just a start-up or micro business, doing business online can still do more good than harm to you. There are a lot of benefits while doing business online, first of all, internet is the new economy, and
The business world, from small and medium enterprises to big conglomerates, relies on accounting software to automate and speed up computing processes and procedures while producing accurate results. Listed below are the four (4) popular accounting/bookkeeping programs that are consistently ranked among the top accounting software in the market today.
If you are a business man, you would have always faced a lot of moments in your life when you caught yourself staring at your bank statements and bookkeeping records, trying to make sense of why they do not seem to tally with one another? If you have, you are not alone and you either do not have a bookkeeper or if you do, he is not worth the money you are investing.
Why Should You Outsource Your Bookkeeping Matters to The Pros? In the modern times, bookkeeping has become an increasing need for any and every business no matter how big or small. There is a reason why many firms spend millions of dollars on a formidable army of bookkeepers every year. A bookkeeper is one of the few people who can actually make your business easier. It is no secret that any business faces a number of bookkeeping related problems almost daily and dealing with these problems is both a mental and an emotional challenge. But still, a large number of people choose to deal with their books themselves and end up getting in worse messes every year until they finally realize that there is nothing left to salvage. However, even the worst scenario can be prevented by investing in a professional bookkeeping service.