Bookkeeping Fairy Perth in Perth, Western Australia | Financial service

Bookkeeping Fairy Perth

Locality: Perth, Western Australia

Phone: +61 400 102 358

Address: 36 Nanson Way Nollamara 6061 Perth, WA, Australia

Website: http://www.bookkeepingfairyperth.com.au

Likes: 69

Add/Update information

Reviews

Tags

• Business service
• Tax preparation service
• Accountant
• Financial service

25.01.2022 My new jingle for 2016!

25.01.2022 If you get a phone call from the ATO wanting money and you arent aware of any outstanding debts ring either your bookkeeper or Accountant first! Man, 81, loses $110,000 to ATO scammers Cruel scammers have defrauded an 81-year-old Perth man out of $110,000 claiming to be from the Australian Taxation Office.... AN elderly man caring for his ill wife has lost $110,000 to scammers claiming to be from the Australian Taxation Office. The 81-year-old was threatened over three weeks by the scammers, who stated he would be jailed if he did not pay immediately and that his three children could lose their jobs. Consumer Protection said it was the largest loss to the long-running scam ever reported in Western Australia.

25.01.2022 HIRING STAFF OVER THE CHRISTMAS HOLIDAYS? If youre hiring extra workers for the busy holiday season, its important to get a few things straight first so youre not left with any costly surprises in the New Year. Employee or contractor?... You need to determine if your workers are employees or contractors to make sure you meet your tax and super obligations. Dont rely on what other businesses are doing to work it out. The fact is both employees and contractors can be hired for: casual, temporary, on call and infrequent work busy periods short-term jobs, specific tasks and projects. Hiring working holiday makers? If your workers are here on a working holiday visa (subclass 417 or 462) youll need to: register with us as an employer of working holiday makers first, then tax them at 15% from the first dollar earned, regardless of their residency status. Next step: Download the Tax file number declaration form https://www.ato.gov.au/Forms/TFN-declaration/ Find out about: Employee or contractor https://www.ato.gov.au/Business/Employee-or-contractor/ Employers of working holiday makers https://www.ato.gov.au//Employers-of-working-holiday-make/ I am a Registered BAS Agent Number 2480 65 84 and you can contact me on 0400 102 358 or email me at [email protected]. if you have any queries on GST. Check out my website www.bookkeepingfairyperth.com.au or contact Jaleana 0400 102 358

23.01.2022 This is my very first business video for Bookkeeping Fairy Perth! Hope you all like it.

22.01.2022 http://buyukseker.simplesite.com//10-reasons-why-bookkeepe

22.01.2022 Casual Loading Offset - New Fair Work Regulation From 18th December 2018, employees incorrectly classified as a casual maybe be entitled to an offset payment against NES entitlements, of the annual leave the casual should have received. As stated by Fair Work, the new regulation applies where all the following criteria are met:... An employee is employed by their employer on a casual basis The employee is paid a casual loading that is clearly identifiable as being an amount paid to compensate the person in lieu of entitlements that casual employees are not entitled to under the NES, such as personal or annual leave Despite being classified as a casual, the employee was in fact a full-time or part-time employee for some or all their employment for the purposes of NES The employee has made a claim to be paid for one or more of the NES entitlements (that casual employees do not have) that they didnt receive for all or some of the time that they were incorrectly classified as a casual The new regulation applies to employment periods that occurred before, or that occurred on or after, 18th December 2018. Background of the New Fair Work Regulation The casual loading offset is a result of a case between Workpac v Skene, where Skene was incorrectly classified as a casual yet worked regular and systematic hours with a 12 month roster set in advance. The court ruled that the employee was a permanent employee and ordered backpay of the annual leave. What you Need to do Unless the casual employee has made a claim to the Fair Work Commission, there is no requirement to calculate a casual loading offset against NES entitlements due to the casual. However, you can ensure the following are implemented: 1. Employee payslips show the casual loading separately to ensure the employee is aware they are a casual and paid the casual loading. 2. Ensure the casual employee is aware the casual loading compensates their relevant NES entitlements. The wording in the casuals contract should be tailored to meet the wording of the new Fair Work regulation.

20.01.2022 End Of Financial Year Timeline Benjamin Franklin once said "By failing to prepare, you are preparing to fail." Take this opportunity to make your End of Year stress free by using the timeline to calmly prepare for the end of year....Continue reading

20.01.2022 Annual Wage Review Get Set for a 2.4% Wage Increase The Fair Work Commission has announced a 2.4% increase to minimum wages. The increase will apply from the first full pay period starting on or after 1 July 2016. The increase only applies to employees that get their pay rates from the national minimum wage, a modern award or in some cases a registered agreement. The new national minimum wage will be $672.70 per week or $17.70 per hour. The national minimum wage applies to... employees who arent covered by an award or agreement. Most employees are covered by an award. Award rates will increase by 2.4%. The wage increase takes effect from the first full pay run after 1 July 2016. As an example if your employees are paid on the 5th of July for the pay week 27 June to 3 July, this would be at the old rate. The new rate would apply from the pay run that starts on 4th July.

20.01.2022 Been working today from 7am - nearly midnight ( with a break for a swim) yes it BAS time again and the deadline is tomorrow if you have a BAS Agent to do it otherwise you should have had it done last month. Call me urgently if you havent done it!

18.01.2022 So you think you know where your Super is going when you die? Oh youve put on your super form that it is go to specific people or as per your will . Think again! Unless you have signed a Binding Death Nomination Form the faceless people in superannuation land will decide who gets what. My neighbors daughter tragically died at 52 leaving her super to her mother to compensate her for the money she had given her over the years to buy a home. I saw a copy and it clearly state...d that it was to go to her mother; however the Super people decided it that it should go to her partner despite her wishes and gave it to him. She hounded him until he gave her half but an elderly woman shouldnt have had to go through that ordeal to get what was rightfully hers. He got the home outright after all! My Mothers friends son died in an accident and all his super was given to his flat mate who lived with him. They were friends with benefits but he had no intention of marrying her and they werent regarded as partners but she got it all. To her credit though a year later she gave it all back to his parents. I also know of someone whose brother had signed a Binding Death Nomination Form probably thinking he was covered but they expire every three years so it was split up among the family and not according to his wishes. So if you dont want the Super Fund making choices over what you want make sure you sign a Binding Death Nomination Form and update it every three years.

18.01.2022 IS IT N-T OR FRE GST CODE? This by far is the most common mistake made by bookkeepers and is the most important. Incorrect use of tax codes can cost businesses thousands of dollars and waste time trying to track and correct mistakes. It is commonly thought that N-T means GST free but what it means that the transaction is not reportable on your BAS. ... Generally it is considered that as they are both 0% , that it doesnt matter which one you use but what they fail to realise that FRE is reportable on your BAS at G3 GST Free Sales so it is important to get it right. Use coding N-T for anything not reported on your BAS like cash transfers, deposits paid, depreciation, recording stock movements, Government charges such as FID, BADT, Owners Drawing and Director Fees. Use coding FRE for GST free Sales and Purchases. For example basic food stuff, sewerage and water, eligible childcare, non commercial activities of charitable institutions and most education and health services. Remember FRE is recorded on your BAS form.

17.01.2022 ATO SCAM ALERT!! This morning my landline rang and it was a recorded message from a man purporting to be from the Australian Tax Office. The person claimed that I was under investigation for tax fraud and an arrest warrant was going to be issued if I didnt ring this 02 number immediately and sort it out. ... He seemed to be an Indian with an American accent and the wording was very strong with the intention of scaring an unwary person who possibly would not be aware that it is a scam into paying a fee. Even though it appeared that it was a Sydney number it would be likely a VOIP number. I was advised that I could involve my attorney which normally Aussies would just say lawyer and it talks about the Australian Taxation Office Headquarters, another red flag as we dont describe the ATO as Headquarters. Biggest flag of all is that the ATO wouldnt be recording messages and sending them to your phone nor use such threatening language! Just last week I had a friend talk about a phone call her elderly parents received while she was in their home. Luckily she took the call and realised it was a scam but said it was scary that they knew her fathers personal details and where he had worked in the eighties. Had her elderly parents received this call and been advised that there was a warrant for their arrest if they didnt pay these fines theres no telling how it would affect them. The caller told her that he would be sending the police around in thirty minutes, if her father didnt speak to him. She of course refused and hung up. If you have elderly parents, advise them to not send money via wire transfer nor give their personal, credit card or online account details over the phone, dont engage with them just hang up! These are the vulnerable people that they target so get the word out.

17.01.2022 How I love Xero Cash Coding! Yesterday I had a client that had not balanced her bank reconciliation for months and there were over 770 transactions ( yes thats right 770!) that had to be allocated to their correct expense code. Now normally this would be an absolute mammoth task taking hours but with Xero Cash Coding we narrowed it down to a couple of hours. ... So what is Xero Cash Coding? Its an alternative way to code your bank transactions in Xero rather than using the bank reconciliation dashboard screen. Its a great way to code a high volume of bank transactions that are cash before going on to complete the rest of the bank reconciliation for transaction such as invoices, credit notes and expense claims. For further information please contact Jaleana 0400 102 358 Bookkeeping Fairy Perth. Check out her video - https://youtu.be/EyTUjF1oqTA and website www.bookkeepingfairyperth.com.au

16.01.2022 The new Minimum Wage Effective 1 July 2018 The Fair Work Commission has announced the largest Minimum Wage percentage increase since 2011. The decision will have a significant impact on businesses, industries and more than 2.3 million employees who are paid at the National Minimum Wage or minimum Modern Award rates. The Outcome... The outcome of the annual wage review has delivered the following changes, effective from 1 July 2018: A 3.5% increase to all Modern Award rates (with weekly wages rounded to the nearest $0.10) A 3.5% increase to the National Minimum Wage, taking it to $18.93 per hour (and $719.20 per week for a full-time employee), an increase of $0.64 per hour The Commissions decision only confirms the basic increase in minimum rates while confirmation of the specific rates (including new allowance rates) for each individual Award has not been released. These will be released before 1 July 2018. If you need any advice on understanding and implementing these changes to wages please call me on 0400 102 358 to discuss.

16.01.2022 ARE YOU SUPERSTREAM COMPLIANT YET? Small employers (19 or fewer employees) must meet the SuperStream standard by 30 June 2016. Larger employers should have been using SuperStream since 31 October 2015. This standard offers a simpler way of making super contributions and, for many employers, will provide a single channel for making contributions to multiple super funds. Under SuperStream, you need to pay super contributions for your employees electronically (EFT or BPAY) and s...end the associated data electronically. This means you can make all your contributions in a single transaction, even if theyre going to multiple super funds. The clearing house separates the information and the payments to the respective fund and sends it on. This has given business the ability to comply with their superannuation obligations quickly and easily. Ways of achieving this The Government superannuation clearing house has been available for small business (less than 20 employees) and administered by the ATO. Its not an automatic service and you need to duplicate your data by having all your relevant employee information in the system. If you are using MYOB they have for many years offered MYOB P-Powered Superannuation which works in conjunction with their payroll. Xero have Auto Superannuation which does the same process and uses clearing house ClickSuper Any queries ring Jaleana at Bookkeeping Fairy Perth on 0400 102 358 to discuss your options..

16.01.2022 Spent yesterday at the Institute of Certified Bookkeepers (ICB) End of Year Workshop at the Langley updating my knowledge. It was extremely informative and worth giving up a precious Saturday. By attending this workshop I get 6 points towards my Continuing Professional Education (CPE) which all BAS Agents are required to do in order to keep their Registration. Dont leave your financial records to non bookkeepers that dont keep up with the latest bookkeeping practices and use outdated methods. They cost you money and time. Just lately I have been appalled by businesses that have "bookkeepers" that through their own lack of knowledge or lack of care have caused huge financial problems in the business. Pay the extra and get someone who knows what they are doing!

16.01.2022 TFN declaration forms can now be downloaded! You no longer need to order the form and wait for it to be mailed to you. Just download it from ato.gov.au/TFNdec or even better ask your new employee to download the form and fill it in on the screen. Once its filled in print it off, get your employees signature then send the original copy to the ATO using the address on the form within 14 days.... Dont forget to keep a copy for your files!

16.01.2022 Have you planned your Christmas Shut down yet? Dont leave it too late! Is your business planning on running on skeleton staff over the Christmas period or closing down?... Now is the time to start planning the specifics of your Christmas shutdown and to notify your staff accordingly. Many awards and agreements allow you to direct staff to take annual leave, or unpaid leave where annual leave has been exhausted, during a close down. There are however different requirements in each award about how much notice you need to provide and whether you can direct staff to take annual leave or unpaid leave. Some awards require 3 months notice of a close down. Under the Fairwork Act any employer can direct employees to take annual leave for a period of any shutdown over Christmas. However, the act specifies that the employee must have the leave accumulated. If the employer wants employees to take unpaid leave they need the employees consent. Alternatively, the employer could allow the employee paid leave in advance of it accruing. The employee then is not entitled to any further leave until they accrue enough to cover the advance. If you are asking staff to take compulsory leave over Christmas, it may also be sensible to get an agreement from those employees (in writing) that if they fail to accrue enough additional leave prior to termination that the amount which remains advanced can be deducted from any other final payments to be made on termination. I am a Registered BAS Agent Number 2480 65 84 and you can contact me on 0400 102 358 or email me at [email protected]. if you have any queries. Check out my website www.bookkeepingfairyperth.com.au

16.01.2022 Small Business Guide as to why you should hire a bookkeeper, the role of a bookkeeper and how to hire a professional bookkeeper.

15.01.2022 Government Announces 12 month amnesty period for SG Non Payment The government has announced a one-off, 12-month amnesty period for historical underpayment of the superannuation guarantee, in a move welcomed by the bookkeeping industry.... Minister for Revenue and Financial Services, Kelly ODwyer, today announced the introduction of a new bill to complement the existing SG integrity package to compel employers to pay any unpaid superannuation in full. The amnesty will set aside employer penalties for late payment that are normally paid to the government, with employers needing to pay all super that is owed to their employees, including the rate of nominal interest. Subject to the passage of legislation, the amnesty will run from 24 May 2018 to 23 May 2019. Employers who do not utilise the one-off amnesty will face higher charges, including a minimum 50 per cent on top of the SG charge they owe. Further, the ATO will continue its enforcement activity against employers who do not own up voluntarily to their historical obligations. If youre having trouble understanding your obligations as they fall under the SG Act please contact Jaleana from Bookkeeping Fairy 0400 102 358

15.01.2022 Be Prepare to be slugged with GST on Google AdWords accounts from November 1st Australian Google AdWords customers are preparing to be hit with the goods and services tax (GST) for the first time after Google sent emails to account holders on Tuesday to give notice that their accounts will be billed through Google Australia from November 1.... The change comes more than 18 months after then Communications Minister Malcolm Turnbull started the push for multinationals to pay GST on advertising booked through Australia. While there was some confusion with the initial announcement as to whether GST will be inclusive or exclusive, we can now confirm that GST will be exclusive. This means that, if you are paying Google directly for your click spend (e.g. via credit card), your AdWords spend will remain as is and Google will be charging an extra 10% on top of your current spend as an additional line item. If your business is registered for GST, not much is going to change (except for cash flow of course). You can still claim credits for this GST at BAS time. If your business is not registered for GST, then this will likely hit your hip pocket. Its my recommendation that you inform your finance department of these changes so they can be prepared for this come BAS time.

14.01.2022 Casual employees may be entitled to Super Employing casual workers provides businesses with an increased level of flexibility. However, its important to remember that casual employees may be entitled to super. Heres the basics:... You may need to pay super guarantee (SG) regardless of whether your employee is full-time, part-time or casual. If you pay your employee $450 or more (before tax) in a calendar month, you have to pay SG on top of their wages. If your employee is under 18 they must also work for more than 30 hours per week to qualify for SG. Super guarantee is currently calculated at 9.5% of a casual employees ordinary time earnings. This includes their wage plus any casual or shift loadings for ordinary hours of work. It also includes commissions and some allowances, but it doesnt include overtime payments. Use the ATO SG eligibility tool to work out if your casual workers are eligible for super. https://www.ato.gov.au/calcula/super-guarantee-eligibility/

14.01.2022 ONLINE QUICKBOOKS SUBSCRIPTION SALE - $5 A MONTH FOREVER!! Yes you did read it right, QuickBooks Plus which is its most featured online accounting program, normally $35 a month is only available to accountants and bookkeepers clients for $5 a month for the life of the subscription. Get in early as this offer finishes on the 30th June so hurry now and contact me on 0400 102 358 or send me an email [email protected]. Promo Video https://youtu.be/EyTUjF1oqTA... As an established small business, a full-service financial accounting software will help you keep track of your business sales and profitability. QuickBooks Online Plus organises all of your financial transactions and accounting data in one central location so that you always know where your business stands. You can access your accounting data and generate accounting reports anytime and from anywhere. It also comes pre-installed with accounting reporting templates so that you can generate the accounting reports you need in just a few clicks. Whats more, QuickBooks Online Plus comes with additional powerful features such as inventory tracking, class tracking for income & expenses and the ability to create estimated budgets for your business future income & expenses. .

13.01.2022 Its nice to be appreciated!! :) I had a client pop in and give me these beautiful flowers and chocolates with the nicest card with messages from all the guys at Designco lucky me ahh!

13.01.2022 Budget 2015: $20,000 Small Business tax break explained One of the biggest announcements in last nights budget was the reintroduction of the 100% deduction for equipment purchases by small Businesses. However, this time its a more generous limit of $20,000 per item. So what can this mean for your business? Business with an annual turnover of under $2 million can claim immediate tax deductions for as many sub - $20,000 purchases as they make between 7.30pm on budget night ...until June 30th 2017. The $20,000 tax break applies to businesses that can demonstrate ongoing activity via quarterly Business Activity Statements and must be actively trading to be eligible for the tax break. Assets over $20,000 are not eligible for the instant tax write-off, but can be fully written off over a longer period. Any assets over $20,000 can be added together and depreciated at the same rate. These assets are depreciated at 15 per cent in the first income year, and 30 per cent per year thereafter. If the value of the pool is below $20,000 until the end of June 2017 it can be immediately deducted too. So what can you buy? Anything used for running your business for instance, computers, printers, office furniture, coffee machines, kitchen equipment, cars and tools for example. There are a few items not deductible, including some horticultural plants, marketing costs, stock for your business and any software developed in-house by a business. In addition to the instant asset write-off, companies with annual turnover of less than $2 million will have their tax rate lowered, from 30 per cent to 28.5 per cent which is the lowest small business company tax rate in almost 50 years. For unincorporated businesses that is typically your sole traders or partnerships there is a 5% tax discount up to the limited of $1000.00. Please note that this information provided is of a general nature for Australian business and should not be your only source. Circumstances vary from financial year to year so consult an experienced tax agent.

13.01.2022 HIRING STAFF OVER THE CHRISTMAS HOLIDAYS? If you're hiring extra workers for the busy holiday season, it's important to get a few things straight first so you're not left with any costly surprises in the New Year. Employee or contractor?... You need to determine if your workers are employees or contractors to make sure you meet your tax and super obligations. Don't rely on what other businesses are doing to work it out. The fact is both employees and contractors can be hired for: casual, temporary, on call and infrequent work busy periods short-term jobs, specific tasks and projects. Hiring working holiday makers? If your workers are here on a working holiday visa (subclass 417 or 462) you'll need to: register with us as an employer of working holiday makers first, then tax them at 15% from the first dollar earned, regardless of their residency status. Next step: Download the Tax file number declaration form https://www.ato.gov.au/Forms/TFN-declaration/ Find out about: Employee or contractor https://www.ato.gov.au/Business/Employee-or-contractor/ Employers of working holiday makers https://www.ato.gov.au//Employers-of-working-holiday-make/ I am a Registered BAS Agent Number 2480 65 84 and you can contact me on 0400 102 358 or email me at [email protected]. if you have any queries on GST. Check out my website www.bookkeepingfairyperth.com.au or contact Jaleana 0400 102 358

11.01.2022 It's nice to be appreciated!! :) I had a client pop in and give me these beautiful flowers and chocolates with the nicest card with messages from all the guys at Designco lucky me ahh!

10.01.2022 IM ON THE MOVE! Im delighted to advise you all that as from this Monday 4th September I am moving to new business premises in Mt Hawthorn. Since I started my business in July 2014 with my clients increasing loyal support I have expanded my business and have outgrown my home office and need more space to serve them better. ... The new address is 103 Scarborough Beach Rd, Mt Hawthorn (corner of Shakespeare St and Scarborough Beach Rd and my hours will be from 9am 5pm except for Tuesdays as I work on site with a client. I am still contactable by mobile 0400 102 358 between the hours of 7am 9pm should you have any queries as you know I understand that when running a small business sometimes you need assistance after hours and I am happy to provide this. Im sure you will recognise this iconic building that has been Energy House for over 35 years as you have driven down Scarborough Beach Rd. Surprised to see my car in the driveway!

09.01.2022 Taxation Practitioner Board campaigning Businesses to use BAS Agents The Taxation Practitioner Board have commenced a national advertising campaign which includes the message to use registered BAS Agents.... The Campaign promotes the BAS Agent Logo, available for download from the Tax Practitioner Board website. It promotes to Businesses that they should be checking the TPB Register. For more information, click here http://www.tpb.gov.au/TPB/Finding_and_using_a_practitioner I am a Registered BAS Agent 24806584 contact me on 0400 102 358. Check out my website www.bookkeepingfairyperth.com.au and my promotional video https://youtu.be/EyTUjF1oqTA

08.01.2022 Have you planned your Christmas Shut down yet? Don't leave it too late! Is your business planning on running on skeleton staff over the Christmas period or closing down?... Now is the time to start planning the specifics of your Christmas shutdown and to notify your staff accordingly. Many awards and agreements allow you to direct staff to take annual leave, or unpaid leave where annual leave has been exhausted, during a close down. There are however different requirements in each award about how much notice you need to provide and whether you can direct staff to take annual leave or unpaid leave. Some awards require 3 months notice of a close down. Under the Fairwork Act any employer can direct employees to take annual leave for a period of any shutdown over Christmas. However, the act specifies that the employee must have the leave accumulated. If the employer wants employees to take unpaid leave they need the employee's consent. Alternatively, the employer could allow the employee paid leave in advance of it accruing. The employee then is not entitled to any further leave until they accrue enough to cover the advance. If you are asking staff to take compulsory leave over Christmas, it may also be sensible to get an agreement from those employees (in writing) that if they fail to accrue enough additional leave prior to termination that the amount which remains advanced can be deducted from any other final payments to be made on termination. I am a Registered BAS Agent Number 2480 65 84 and you can contact me on 0400 102 358 or email me at [email protected]. if you have any queries. Check out my website www.bookkeepingfairyperth.com.au

07.01.2022 Making GST reporting easier If youre a small business with a GST turnover of less than $10 million, Simpler BAS is now your GST reporting method. This means you only need to report: Total sales GST on sales... GST on purchases If you use accounting software, you can keep your original detailed GST classifications, or choose the Simpler BAS bookkeeping settings with reduced codes. Its completely optional and the choice is yours. Paper BAS forms havent changed, just leave the sections blank where information is no longer needed. The ATO have developed a Simpler BAS GST bookkeeping guide. This helps with the classification of sales and purchases, and explains common and also misunderstood GST transactions. This link will take you directly to the guide. https://www.ato.gov.au//In-detail/Simpler-BAS-GST-bookkee/

06.01.2022 New Fair Work Information Statement Do you give all new employees a copy of the Fair Work Information Statement? All employers are required to give it to every new employee so they are aware of their entitlements. Fair Work recently updated the Fair Work Information Statement, so make sure youre providing the new version. And remember, you should also make the relevant award available to all employees. Click on this link to direct you to the new Fair Work Information Stateme...nt https://www.fairwork.gov.au//fair-work-information-stateme

04.01.2022 I'M ON THE MOVE! Im delighted to advise you all that as from this Monday 4th September I am moving to new business premises in Mt Hawthorn. Since I started my business in July 2014 with my clients increasing loyal support I have expanded my business and have outgrown my home office and need more space to serve them better. ... The new address is 103 Scarborough Beach Rd, Mt Hawthorn (corner of Shakespeare St and Scarborough Beach Rd and my hours will be from 9am 5pm except for Tuesdays as I work on site with a client. I am still contactable by mobile 0400 102 358 between the hours of 7am 9pm should you have any queries as you know I understand that when running a small business sometimes you need assistance after hours and I am happy to provide this. Im sure you will recognise this iconic building that has been Energy House for over 35 years as you have driven down Scarborough Beach Rd. Surprised to see my car in the driveway!

04.01.2022 HIRED A BACKPACKER? If you employ backpackers who are in Australia on a 417 or 462 working holiday visa there are some things youll need to do following the tax rate changes that started on 1 January 2017. Its unusual that they have changed the tax rate during the year rather than start it from the 1st July so you may have to processes two payment summaries (Group Certificates in old language!)... Hired a working holiday maker before 1 January 2017? Youll need to issue two payment summaries for any working holiday maker you employed both before and after 1 January: one for income earned up to 31 December 2016 one for income earned from 1 January 2017 (using gross payments type H). Hiring or thinking of hiring working holiday makers? There are three things youll need to do: 1. Make sure you register with the ATO so you can withhold at the 15% tax rate you only need to register once, not for every worker you employ. 2. Check they have a visa that allows them to work in Australia. 3. Withhold 15% from every dollar earned up to $37,000 foreign resident tax rates apply from $37,001. If you dont register with the ATO, not only will you need to withhold at the foreign resident tax rate of 32.5% from the first dollar your working holiday maker earns, but you might also be penalised. Next steps: To register as an employer of working holiday makers click on this link https://www.ato.gov.au/twhm/ Use this Visa entitlement verification online link to check if your worker has a visa that allows them to work in Australia. https://www.border.gov.au//visa-entitlement-verification-o

03.01.2022 Warped Versions of GST Just when you thought you could wrap your head around the GST rules along comes these sort of variations of the rulings. Wouldnt it be great if GST applied equally to all goods and services? I have included here some examples of where the rules are different. Taxis Drivers, Chauffers and other Ride-Sourcing Providers no $75K threshold If you provide ride sourcing or sharing services (taxi etc) then you MUST register for GST and the $75k threshol...Continue reading

03.01.2022 If you get a phone call from the ATO wanting money and you aren't aware of any outstanding debts ring either your bookkeeper or Accountant first! Man, 81, loses $110,000 to ATO scammers Cruel scammers have defrauded an 81-year-old Perth man out of $110,000 claiming to be from the Australian Taxation Office.... AN elderly man caring for his ill wife has lost $110,000 to scammers claiming to be from the Australian Taxation Office. The 81-year-old was threatened over three weeks by the scammers, who stated he would be jailed if he did not pay immediately and that his three children could lose their jobs. Consumer Protection said it was the largest loss to the long-running scam ever reported in Western Australia.

03.01.2022 Still not using SuperStream? Deadline is 28th October! Most employers have taken measures to ensure their super contributions meet the SuperStream standards. If you havent acted yet, remember that the deadline for switching to SuperStream is 28 October. If youre still paying the old fashioned way, or using BPAY without reporting the SuperStream data, you need to act now. This is because under SuperStream you need to:... pay super electronically report data electronically with your payment. The ATO have free webinars to help you understand SuperStream and the steps you need to take to prepare. The link will take you to the information. https://www.ato.gov.au//SuperStream-employer-industry-we/ If you need help contact Jaleana at Bookkeeping Fairy Perth 0400 102 358 to assist you to move forward with your SuperStreaming

02.01.2022 Single Touch Payroll is here! The single touch payroll (STP) revolution is here! The first step that changes the way you report to the ATO will happen on 1 April 2018. In case you missed it, STP is set to make your life easier. Say goodbye to rolling a whole bunch of separate reporting requirements together at the end of every financial year, and say hello to an automatic, more regular report.... This reporting change is mandatory. Your payroll software will need to be STP-enabled or it wont work. From 1 July this year (for businesses with 20 or more employees), salaries, wages, PAYG withholding and superannuation data goes to the ATO when you process payments. For the sake of the headcount, heres what the ATO considers to be an employee full-time employees part-time employees casual employees who are on your payroll on 1 April and worked any time during March overseas-based employees any employee who is absent or on leave seasonal employees (for example, they may be harvest workers) For the sake of STP, these are not employees: any employee who ceased work before 1 April casual employees who did not work in March independent contractors staff hired by a third-party labour hire company company directors office holders religious practitioners Staffing numbers dont need to be complicated. It can literally be a headcount. For more information go to my website www.bookkeepingfairyperth.com.au

02.01.2022 http://www.perthnow.com.au///story-fnhocxo3-1227421756968