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Beccam Accounting

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24.01.2022 What is Capital Gains Tax? shortened to CGT. . When you sell a capital asset (eg real estate or shares ) you usually make a gain or loss. When you sell an asset for more than you purchased it for you make a gain and CGT will apply, however it's not actually a separate tax. It's part of your income tax and therefore is based on your tax rate. ... Assets purchased prior to 20 Sept 1985 are excluded from CGT Based on contract date not settlement date Personal assets like your home and car are generally exempt, however if used to produce assessable income (e.g. rented for a period) you may need to make adjustments Capital Losses cannot be used to reduce other income, however can be carried forward to use against future capital gains. See more

24.01.2022 Happy Valentine's Day - I hope you feel the love everyday.

24.01.2022 December quarter Activity Statements (electronic lodgements) are due on 28 February. Need a hand collating your info? Give me a call.

23.01.2022 Superannuation is savings for retirement. You are legally required to pay super for your staff and contractors. $450 min gross pay per month. if under 18 they must work 30hrs to qualify including contractors who are paid mainly for their labour super is currently 9.5% of worker's *Ordinary Time Earning* (OTE)... must be paid and reported quarterly and on time to get the deduction if paid late you may have to pay interest and fees Directors can be held personally liable for unpaid super. Give Beccam a call to discuss your situation to ensure you are meeting your obligations. See more

23.01.2022 Are you in the health and beauty industry and wanting to grow? Come and meet my marketing team!

23.01.2022 Just a quick one to say thank you to the universe and all the people I am lucky enough to have around me! . I often loose sight of this amazing life when I get bogged down in the day to day stress of running a small business. . For those like me that need a reminder - you are challenged because you can handle it... fight on and enjoy the rewards at the other end!

22.01.2022 Are you overwhelmed by the thought of your accounts? Please don't be... just follow these starter tips to get the ball rolling and build your confidence... Have separate bank accounts for business and personal - even write on the bank card "Business" Set aside time each week to process - this keeps it from building up and the details fresh in your mind File your receipts so they are easy to find - use software to file digitally or an expanding file by supplier - I prefer an envelope for each month. if you are still not sure give me a call - I'd love to help you DIY by increasing your knowledge and confidence.

22.01.2022 Are you ready for your October lodgements and most importantly payments? 21st Monthly Activity Statements 28th Quarterly Activity Statements 28th Employer Super Guarantee 31st Income Tax Returns ... Need more time? Engage a Tax Agent (like Beccam ) to take advance of available extensions. We love to help as much or as little as you need, so reach out for a free, no obligation discussion about your needs. See more

22.01.2022 Want to get paid? Make sure you invoice promptly. It seems simple... but how many times do u deal with a small business that takes a while to invoice you... its often because the owner wears all the hats... . Beccam can help by processing invoices daily for clients and chasing payments to keep the cash rolling. What should be included on an Invoice? Clearly state "Tax Invoice" when registered for GST or "Invoice" if not registered... The businesses name and ABN Date Description of items/service - including quantity and price GST details (as appropriate) Invoices over $1,000 should also include the Buyer's indentity/ABN Contact Beccam for more info on taking that pressure off your shoulders. See more

22.01.2022 HAPPY HOLIDAYS to you all. I hope you spend time with those you love and eat too much food and nap and recharge.

20.01.2022 Income Tax Returns are due on 31 October unless you lodge through a Registered Tax Agent. Been avoiding it for a few years? It unfortunately won't go away so let's set a plan - we pride ourselves on making the process simple and stress free. Not sure what you can claim? Generally if you incurred an expense to earn assessable income it will be deductible - however their are some specific conditions so let's chat. Individual returns start at $132 and can be completed remotely or in person. Give me a call for no obligation chat about your options and the available extensions when on "the list" before 31 October.

20.01.2022 Only 41 days to go til EOFY poppers go off Ohh wait maybe it's only accountants that get excited! but on a serious note . Do you know what your 2020 tax bill will be? Have you got the money put aside? Have you considered deductible purchases to take advantage of the higher write off limits. Have you sent some cash to your super fund? ... Reviewed receiveables for Bad Debts? Reconciled Staff obligations like PAYGWH and Super? Now is the time to ask these questions to ensure you have time to take action where needed. Call Beccam Accounting to discuss your situation and book in a 2020 review. See more

19.01.2022 Are you across your staff obligations? Did you know directors are personally liable for mistakes or under payment of staff super and payg - no hiding behind your business structure. reporting to ATO through STP every pay cycle report and pay super through a clearing house quarterly by the 28th Withhold the correct amount of tax (paygwh) non-residents? Holiday workers? Claiming tax free threshold? Have a HELP or Trade loan debt?... report and pay the correct paygwh to the ATO via your activity statement. Beccam is across all these issues plus more so don't fret we are happy to help - as much or as little as you need - and experienced in many different payroll software. Reach out today for a no obligation chat. See more

19.01.2022 Interested in joining me for a golf game? I promise I will make you look good! Plus great networking opportunity with amazing local business owners.

16.01.2022 Fringe benefits tax (FBT) is paid by employers on certain benefits they provide to their employees or their employees family or other associates. Generally a benefit is a personal item provided or expense paid for by the business. . Some examples of Fringe Beneifts: a work car for private purposes a discounted loan... gym membership free tickets to concerts reimbursing a personal expense, such as school fees personal expenses under a salary sacrifice arrangment . Your FBT needs to be self assessed separately to your income tax return and is generally deductible. To find out if you are eligible for the exemptions and concessions give us a call today. See more

15.01.2022 Two certainties in life but no one wants to talk about the first on a Monday - so how's your tax going? not sure - engaging Beccam will ensure you pay minimum tax while meeting your obligations. engaging Beccam gives you more time - self lodgement deadline is 31 October, or engage an agent this month and you may be eligible for an extension to 15 May. Beccam Accounting is a Registered Tax Agent with over a decade of experience. we lodge Returns for Individ...uals, Sole Traders, Partnerships, Companies, Trusts and partner with an SMSF specialist. We would love to have a no obligation chat to you about your options. Send an email or DM to start the ball rolling. See more

15.01.2022 You have time set aside each week to process your transactions... and you are sticking to it... so what's next? Put aside money each week for your GST, Staff liabilities (Super and PAYG) and Year End Tax bills. Fix mistakes early - Ask questions of your accountant to ensure you are allocating correctly. Small mistakes end up big by the end of the year when mistakes are repeated Review your reports - the Profit & Loss report shows you the activity for a period - why not compare monthly to see how you are tracking Not sure how to tackle these - give me a call I love helping people understand their accounts.

14.01.2022 Are you an Australian resident for tax purposes? The requirements are different to those of the Department of Home Affairs. You would fall into one of 3 categories: 1 Australian Resident for Tax Purposes 2 Foreign Resident 3 Temporary Resident. Each has different Income reporting requirements and tax rates. ... And there are special rules for working holiday makers and dual residents. Its also important for employers to get this selection correct for staff so they withhold the correct tax from wages. Give Beccam a call to discuss your circumstances to make sure you are completing your tax correctly. See more

14.01.2022 I'm getting all schmancy (like fancy but a lil crazy coz it's friday) and have set up e-sign for tax returns and activity statements. Absolutely loving my job this week. Met some awesome new clients and having a productive day! Call me for all your personal and business tax, accounting and bookkeeping headaches. I'll (hopefully) make you laugh and take the pressure off your shoulders. And probably do a happy dance when i finish! ... Have an epic weekend!

14.01.2022 I often get asked for an hourly rate to compare to other bookkeepers - however what you can't compare so easily is skill and speed . Allow me to toot my own horn for a moment. . I am a Chartered Accountant and Tax Agent - meaning I've studied Accounting in detail for a long time. My Accounting career officially started in 2005 but my love for accounts started in high school when I was the treasurer of our grade 9 business class. Also had a head start by completing... the Bachelor Degree unit "Accounting 101" in Grade 12. My career has exposed me to a variety of good and bad data files and I know the what and where of income tax legislation to ensure business events are correctly reflected in the accounts. My experience and study has given me confidence and speed - so transactions are entered correctly first go - no rework required. I can "smell" an error from 10 paces - accounting is logical and balanced so when something is off it usually stands out. As always you get what u pay for - might be "cheap" per hour but take 3 times as long, or make alot of mistakes. I love what I do, so being able to share that with my amazing client's is more than I could have wished for. . Put me to the test - if I don't know the answer I will find out. Call me now for a free no obligation review of your accounts. See more

14.01.2022 What are getting out of your software subscription? Is it just a way to provide data to your accountant for tax? It shouldn't be! So make a couple changes to get your money's worth... Customise your chart of accounts - split your income into different accounts rather that dumping everything to 'sales'. Enter your invoices when they arrive so you can track due dates and plan your cash flow. Set automatic invoice reminders for clients who are slow payers (just mak...e sure your regularly tick off payments received). Create tracking categories so you can produce reports on factors important to you - like referral source, location or project. Not sure how to customise - give me a call Id to love help you get the most out of your accounting software. See more

13.01.2022 Calling all bookkeepers - I have an amazing *exclusive opportunity for one. Send me a msg! :)Calling all bookkeepers - I have an amazing *exclusive opportunity for one. Send me a msg! :)

11.01.2022 Keep going people! If you are being honest with yourself and those around you with pure intentions you will get through it! And dont be afraid to ask for help!

11.01.2022 You don't know what you dont know... and that is why I love being part of ICAANZ because it gives us these great learning opportunities. I spent the day yesterday with other eager accountants discussing how to bring more value to our clients through data anyaltics and dashboards. ... huh? I hear you say? ... exactly!! I love getting into the what and why with my clients and the software options they presented will help me process faster to spend more time WITH you talking it through. If you want to hear more get in touch. Ps - maybe you can spot me soaking it up up!

11.01.2022 meep meep broom broom - however it goes if you use your car for work and want a deduction you have two methods to choose from Cents per KM - up to 5,000km at 68cents Log book method - calculating the business % Keep your receipts - Fuel, Rego, Servicing, Insurance etc Maintain for 12 continuous weeks - ensuring it is representative of your usual travel habits... Odometer Readings at the start and end of the log period period (including dates) Odometer Readings for each trip with reason ie business or personal (can combine consecutive trips) Calculate the total kms and overall business % Valid for 5 years as long as no substantial changes to activities and same car. Give Beccam a call with any queries. See more

10.01.2022 How do you mange your cashflow? it doesnt have to be complicated. Map out your regular outgoings for the year. I'm a visual creature so have a big wall calendar with due dates. Consider annual renewals and professional development training. Include personal holidays as these effect your income if you are a lone ranger. Map out your general workflow (income) for the year e.g. average hours worked x Hourly rate, factoring in payment terms eg COD/7days/30EOM. ... Don't forget to mark out ATO due dates eg GST/PAYG-WH/PAYG-I and Super. Regularly review and update - cash flows are never perfect and accuracy will be improved over time. Compare to actuals - most software have options to automate this process. if you want some guidance or a full cashflow forecast call Beccam today for a no obligation chat. See more

10.01.2022 Did you know: Ruapehu, the largest active volcano in New Zealand, is the highest point on the North Island and has three major peaks: Tahurangi (2,797 m), Te Heuheu (2,755 m) and Paretetaitonga (2,751 m). The deep, active crater is between the peaks and fills with water between major eruptions, being known as Crater Lake (Mori: Te Wai -moe). wikipedia.org... This photo was taken yesterday from Ohakune the beautiful little town south of the mountain closest to the Turoa Ski field. Unfortunately the weather today isn't great so it's closed and we are at the Northern Whakapapa fields in the pouring rain. Tomorrow I head off In a camper with mum to sightsee for a few days while the rest of the family head home. I'm still available online if you have any queries and can schedule meetings for late October onwards so don't hesitate to get in touch. See more

08.01.2022 Today marks 3 years of Beccam Accounting. I'm so grateful to all the clients, colleagues and friends who have supported me and continue to inspire me to be better than yesterday and help where I can. I know things are confusing and overwhelming right now but i know we will all get through this. I strongly believe we are never given challenges we can't handle! If you need a supportive ear or have a question please don't hesitate to give me a call!

07.01.2022 Wow what a crazy time. Firstly I beg of you all, please be sensible and look after each other. Wash your hands. If you are sick or at risk stay home. If you go to the shops just buy what you need. And check on your neighbours (perhaps by phone?). . Government's Economic Response: Increase instant asset write off to $150,000. Time limited investment incentive - 50% deduction of Div40 Assets (eg plant & equipment and removable fixtures in a rental property).... Boosting Cash Flow - $2,000-$25,000 tax free for eligible employers. 50% of your PAYG-WH as a credit on your activity statement account when you lodge March and June BASs. Up to 9 mths of 50% wages subsidy for businesses with apprentices/trainees. One off $750 payment to income support recipients and eligible concession card holders. Payroll Tax lodgement and payment deferred to 3 August 2020 We would love to discuss how these measures can assist you and your business through this challenging time. Note there are specific eligibility requirements which we can work through with you. See more

07.01.2022 One of my favourite things about working for myself is the relationships Ive formed with other local business owners I had a wonderful meeting with Pete Manning from Liberty Financial up at Q1 Skydeck and then he wrote me this amazing Infomercial for our Networking meeting this morning. Beccam Accounting is my name, Helping business owners is my game, Management accounts or software trouble,... Quickbooks & Xero or bursting your bubble. . The Tradies love me they think Im cool, When the columns add up, well they just drool, Offline, offsite it doesnt matter, I put an end to all that chatter. . A mobile hairdresser or coffee van, You just got audited by the tax man. . Delivery driver clocking up the ks, Let me help you through that maze My competitive rate is sure to please, To update you books with such ease. . My ideal referral is any business owner, Benjamin, Tracey, Kurt or Fiona. Just outsource this book work to me, For I have the systems in place you see. . Who in your network can you refer today? All of the headaches are out of the way! No need for the problems to keep on mounting Just contact the expert at Beccam Accounting. See more

06.01.2022 Personal leave (also "sick" or "carers" leave) can be used when you are sick or injured or caring for someone who is sick/injured or to deal with a family emergency. . A Full Federal Court decision handed down on 21 August 2019 confirmed the method of accruing and taking leave. Each full time and part time employee accrues 10 DAYS of personal leave per year regardless of hours worked. This is different to the traditional HOURS accrual method which prorated leav...e entitlements for part timers. Taking leave is also processed in DAYS or part there of instead of hours. Are you accruing your staff's leave correctly? Give Beccam a call to discuss how to make the changes needed. See more

06.01.2022 10 November 1494 Luca Bartolomeo de Pacioli wrote about bookkeeping and became known as "The Father of Accounting". So what is an accountant? Your business ally - can help you set, track and achieve your goals - both professionally and personally. Stress Taker - speak to your accountant about your headache and watch them analyse the problem and find a practical solution with you.... Number cruncher - there is more to business than dollars and cents but maintaining the figures creates a solid foundation for decision making. So celebrate your Accountant friends family and colleagues and give me a call to chat about the support I can provide your business. See more

06.01.2022 Fresh year Fresh page Refreshed thinking . What are your goals for the year? I'd love to hear from you in the comments. Do you have questions I can answer on social media? If you are wondering I'm sure others are too. Wishing you a year of victories to celebrate and challenges to keep you growing.