Essential Accounting in Templestowe Lower, Victoria, Australia | Business consultant

Essential Accounting

Locality: Templestowe Lower, Victoria, Australia

Phone: +61 419 678 826

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25.01.2022 10 Tax Tips For Today http://bit.ly/1284py6

25.01.2022 changes in 2017 (extracted from News.com.au & ato.gov.au) GST applies to imported digital products and services Australia has introduced a new law applying the Australian Goods and Services Tax (GST) to international sales of digital products and services provided to Australian consumers. Under the new law, overseas businesses will be required to pay GST on these sales from 1 July 2017. Examples of digital products include downloaded movies, games and electronic books. Exampl...es of services include architectural, legal or educational services. The new law applies very broadly to sales of anything except non-digital goods or real property. Passport fee As announced in the 2016-17 budget, passport fees will increase from 1 January 2017 in line with annual CPI inflation. A 10-year passport for persons aged 16 and over will increase from $254 to $277, a five-year passport for children under 16 from $127 to $139, a five-year passport for persons aged 75 and over from $127 to $139, and an emergency passport LINKEDIN GST Professional networking site LinkedIn will begin charging users 10 per cent GST on their subscriptions from 1 January 2017 to comply with changes to Australias tax laws. Premium LinkedIn accounts can cost up to $576 a year for individuals. Under changes announced in the 2015-16 budget, overseas businesses with an annual turnover of $75,000 are required to register with the Australian Taxation Office to collect GST on all goods sold, with purchases under the current low-value threshold of $1000 included from 1 July 2017. The GST will be identified as a separate line item on your receipt, in addition to the product purchase price, LinkedIn told users. We suggest that you consult your tax advisers or local tax authorities on the implications of GST.overseas from $153 to $175. The priority processing fee will increase from $127 to $183, and overseas surcharges will increase by $1 to $103 for an adult and $52 for a child.

24.01.2022 'Excel crashed, lost all the work'? if you have Auto Recover setup; it might be a lifesaver.... The Auto Recover feature that takes snapshots of your spreadsheets as you work. These snapshots help Excel reopen a workbook after a crash occurs. The Auto Recover feature has to be enabled for it to work.... Enable Auto Recover Feature Step 1 Click "Office" button (Top Left) and then "Excel Options" (Bottom Right). Step 2 Click "Save" on the Excel Options dialog box. Step 3 Check mark the "Save AutoRecover information every XX minutes" to enable the option. Type a value for example "10" in the minutes text box to set the frequency for Excel to save your data. Step 4 Click "OK" to save settings. Recover Document Step 1 Launch Excel after a crash or unexpected shut down. The Document Recovery pane is displayed with up to three versions of the Excel document recovered. Step 2 Click the "Down" arrow next to the file that you want to recover to open menu options. Step 3 Click "Open" to view the document. To save - click "Save As" and type a filename in the "Save As" text box, and click "Save". Important The Save button is still your best friend. To make sure you dont lose your current work, click Save (or press CTRL+S) often.

24.01.2022 we are having problems with our website and emails.... we are working on them at the moment.

24.01.2022 There are some changes to FBT, which might effect your (or your staff) salary packing arrangements. FBT year ending 31 March 2015, the FBT rate will be 47%, which is 0.5% higher than previous years, which was 46.5%. In addition, FBT rate (%) will increase to 49% for the next two year, namely FBT year ending 31 March 2016 & FBT year ending 31 March 2017. ... Then the rate will revert back to 47% from 1 April 2017. The below table will illustrate the changes. The FBT rate changes for the year ending 31 March 2015 onwards. FBT year FBT rate Ending 31 March 2014 (and prior years) 46.5% Ending 31 March 2015 current year 47% Ending 31 March 2016 and 31 March 2017 49% Ending 31 March 2018 onwards 47% This might mean a higher FBT amount payable on the benefits for you (or your staff) who have packaging arrangement.

24.01.2022 NAPLAN FAIL! There has been NO improvement in the literacy and numeracy skills of Aussie students since the introduction 7 years ago of #NAPLAN tests. Primary ...school students have made minimal improvements, while high school students have gone backwards. What do we have to do to see big improvements in schools? Could the focus on preparing kids for NAPLAN tests be taking attention away from actually teaching them? #sun7

24.01.2022 our emails are back!

24.01.2022 The result is to use chkdsk from command prompt... please make sure you back up first..... just in case!!! Here's how to run chkdsk!... To Run Chkdsk from Command Prompt NOTE: The chkdsk command can be used on a FAT32 or NTFS formatted disk. 1. Open a elevated command prompt or a command prompt at startup. 2. In the command prompt, type in the following command below followed by one or more switches that you would like to use below with a space between each switch and press Enter. NOTE: For example, the most common command to run chkdsk on your C: drive is: chkdsk C: /F chkdsk [drive letter]: [switches with space inbetween]

24.01.2022 Google Drive provides an easily accessible cheat sheet. You can open it from within any Google app or when youre in your list of Drive documents. In Windows, press Ctrl+/, and on a Mac press +/. This brings up an overlay with all the hotkeys for whichever part of Drive youre in.

22.01.2022 It is time to review your super contributions (both employer and personally) to ensure you dont exceed the $25,000 cap on super contribution. If anyone exceed the concessional cap for the 2012/2013 year, then the excess concessional contributions are hit with penalty tax of 31.5%, in addition to the 15% tax payable on contribution. The excess concessional contributions also count towards your non-concessional (after-tax) cap.

22.01.2022 Did you know... ...that the old adage "you can't buy happiness" is NOT true? You can actually buy happiness if you spend your money in the right way. You can spend it on others; you can buy lot's of little things rather than a few big things; but probably the most effective way to purchase positivity is to buy positive experiences!

22.01.2022 Cant believe we have completed almost half of our reporting...

21.01.2022 After upgrading to OS X 10.11 & Safari 9, I noticed that a video I uploaded to my website (created by iWeb, in case that's relevant) can no longer be viewed on my computer. I get the "missing plug-in" display. to fix this, locate the 'disabled plugins' folder and in there should be a file called 'quicktime plugin'. Just take the plugin out of the disabled folder into the 'Internet Plug-Ins' folder.

21.01.2022 Down to single digit

21.01.2022 Fathers of accounting Around the year 1300, Amatino Manucci invented (or at least documented) double-entry bookkeeping, although fellow Italian Luca Pacioli popularised the system after publishing Summa de arithmetica, geometria. Proportioni et proportionalita in Venice nearly 200 years later. This school textbook provided the first published description of double-entry usage. The book also detailed a method for balancing ledgers (trial balance), and Pacioli was perhaps the first to recommended independent ledger reviews to discourage fraud. Five hundred years after his publishing triumph, Pacioli was immortalised on a 1994 Italian stamp. Bravo Signor Pacioli!

21.01.2022 Happy Holidays, hope you are not doing too much damage to your credit card/wallet on this boxing day with all these retailers offering big sale.. Do you know it's not Australian legislative requirements for companies to offer return/refund policy; that would depends on the company/retailer. But it's a different story for online purchases. The Australian consumer laws provide a wider protecting to customers if goods are unconscionable, misleading or deceptive nature...

20.01.2022 A good way to do screen dump from Windows7.... Snipping How to operate the Windows7 Snipping Tool 1. Find the tool by clicking on the Start Menu and typing snipping into the search box.... 2. The Snipping Tool should be visible in the Programs list above the search box so click on it. 3. A new window will appear on your screen , the Snipping Tool. You can move it to the edge of the screen out of your way. 4. The Snipping Tool assumes you want to create a new clipping as soon as you open it. Your screen will dim, and you can click and drag your cursor to select an area to copy. As you drag, the selected area will be darker, and surrounded by a red border if you’ve never changed the Snipping Tool options. 5. After releasing your mouse button, the captured area will open in the Snipping Tool window. If you’re not happy with the selection and need to try again, click the New button. 6. When you are happy with your clipping, press the second button to save the screen shot as an image file. 7. You can then paste the image into your Paint program or other graphics editing software See more

20.01.2022 The Australian Government has increased the 32.5% tax threshold from $37,001 - $80,000 to $37,001 - $87,000. The new tax tables are effective from 1 October 2016. You dont need to make any other adjustments or refunds as The ATO will refund any over-payment of tax when your employees (and payees) lodge their 2016-17 income tax return.

20.01.2022 As 30 June 2014 is fast approaching.... just want to share changes in the 2014 financial year.... - Medicare levy will increase to 2%, from 1.5% (if you earn more than $24,168 per year). - Deficit levy of extra 2% for people who earn more than $180,000 therefore for most of us, we will have to pay extra 0.5%; for some would be 2.5% in tax in the 2014/2015 year.... - Superannuation Guarantee Contributions will go up to 9.5% from 1 July 2014. - Max concessional superannuation contributions will increase to $35,000 if you are over the age of 50 (under 60); and people under 50 - the cap will be $30,000. For people over 60, the cap stays at $35,000...

20.01.2022 Save time when completing your BAS by avoiding common errors: *Check that your expenses and sales are for the current tax period *Don’t enter the same invoice t...wice *Check that all tax invoices are valid For more helpful tips visit http://www.ato.gov.au//Common-errors-when-accounting-for/

20.01.2022 Recevied some welcoming news for some of the schools.....

19.01.2022 it's not hard to know......

19.01.2022 very interesting story

19.01.2022 It would probably be a record day today for us, five school visits between three people. Will have three AFSs finalized by the end of the day.

18.01.2022 The Federal Government has announced changes to the superannuation system that it says will affect about 16,000 of Australia's highest earners. From July next year, earnings of more than $100,000 on superannuation pensions and annuities will be taxed at 15 per cent instead of being tax-free.

18.01.2022 $340m to be spent boosting numeracy and literacy at 700 NSW schools after appalling NAPLAN results. Latest NSW news http://bit.ly/7NewsNSW #7News

17.01.2022 Happy Easter everyone...

15.01.2022 FIRST ON 7: Secret documents obtained by 7 News today paint a disturbing picture of the lengths some schools go to in an effort to grab an advantage in the controversial NAPLAN tests. 7 News reporter Jacqueline Felgate explains.

14.01.2022 The ATO has announced e-tax is coming to Mac this year.

14.01.2022 Having problem searching your Gmail? Advanced search operators are query words or symbols that perform special actions in Gmail search. These operators allow you to find what you're looking for quickly and accurately. They can also be used to set up filters so you can organize your inbox automatically. Some of the most useful operators are listed below. You can also refine your search by clicking the arrow in the search box.... from: Used to specify the sender Example: from:amy Meaning: Messages from Amy to: Used to specify a recipient Example: to:david Meaning: All messages that were sent to David (by you or someone else) subject: Search for words in the subject line Example: subject:dinner Meaning: Messages that have the word "dinner" in the subject - (hyphen) Used to exclude messages from your search Example: dinner -movie Meaning: Messages that contain the word "dinner" but do not contain the word "movie" is:unread Search for messages that are unread Example: is:unread from:David Meaning: Unread messages from David

14.01.2022 Warning! New phishing scam circulating below is an image of the fraudulent email. Details of the scam: displays as being sent from the Australian Taxatio...n Office informs that you have a tax refund due to you displays an invalid Tax File Number website it links through to requests credit card details. Remember: If you receive this scam email, DON’T click on the link. Delete the email immediately. Only access our online services by visiting ato.gov.au. We will never ask you to confirm, update or disclose confidential details via an insecure channel such as email. Share with your friends and family so they don’t get caught. Check out other scams currently circulating, read tips on how to protect yourself, and learn how to report scam tax emails at www.ato.gov.au/onlinesecurity

13.01.2022 Have you even wonder why after you plugging your USB into the computer, the computer always prompting you to 'scan & fix'? Reason: The USB wasnt ejected properly once, and it has 'unclean files'. If possible, dont preform the scan and fix option, as it might delete all the data in your USB.... Will give you the fix for those tech heads in the next post!!

12.01.2022 THE Federal Government has officially scrapped the Rudd Government's proposed changes to the Fringe Benefits Tax on company cars.

12.01.2022 A handy function.....

11.01.2022 How to recovery data from unsaved spreadsheet? This problem is addressed in Excel through an Auto Recover feature that takes snapshots of your spreadsheets as you work. These snapshots help Excel reopen a workbook after a crash occurs. The Auto Recover feature has to be enabled for it to work. Enable Auto Recover Feature... Step 1 Click "Office" button (Top Left) and then "Excel Options" (Bottom Right). Step 2 Click "Save" on the ‘Excel Options’ dialog box. Step 3 Check mark the "Save AutoRecover information every __ minutes" to enable the option. Type a value for example "10" in the minutes text box to set the frequency for Excel to save your data. Step 4 Click "OK" to save settings. Recover Document Step 1 Launch Excel after a crash or unexpected shut down. The Document Recovery pane is displayed with up to three versions of the Excel document recovered. Step 2 Click the "Down" arrow next to the file that you want to recover to open menu options. Step 3 Click "Open" to view the document. To save - click "Save As" and type a filename in the "Save As" text box, and click "Save". Important The Save button is still your best friend. To make sure you don’t lose your current work, click Save (or press CTRL+S) often.

10.01.2022 Even wonder how to check your calendar (for those who uses Google Calendar) at your inbox?

10.01.2022 Time is running out! Only one week left to lodge. Lodge online - it’s free and most refunds are issued within 12 business days. For more information, go to https://www.ato.gov.au/lodgeonline

08.01.2022 Q: What's the definition of an accountant? A: Someone who solves a problem you didn't know you had in a way you don't understand.

08.01.2022 The world needs more teachers like these.

08.01.2022 a bit of fun...

08.01.2022 A couple of handy tricks when doing Google Search.... - Use an asterisk within quotes to specify unknown or variable words. Heres a lesser known trick: searching a phrase in quotes with an asterisk replacing a word will search all variations of that phrase. Its helpful if youre trying to determine a song from its lyrics, but you couldnt make out the entire phrase (e.g. imagine all the * living for today), or if youre trying to find all forms of an expression (e.g. * i...s thicker than water). - Use the minus sign to eliminate results containing certain words. Youll want to eliminate results with certain words if youre trying to search for a term thats generating a lot of results that arent of interest to you. Figure out what terms youre not interested in (e.g. jaguar -car) and re-run the search.

08.01.2022 Australian Tax Office phone scam: Police recently received reports from victims in the Cobden, Camperdown and Hamilton areas. The scam involves a phone call f...rom a person purporting to be from the ATO. The person tells the victim they have an outstanding tax debt or that they fraudulently or incorrectly filled out their tax return. In each reported case, the caller threatened the victim with legal action if they do not pay immediately. You can find more information on current scams and advice for people who have been the victim of a scam visit www.scamwatch.gov.au Latest from 7 News: http://yhoo.it/1HYefMw 7 News video: http://yhoo.it/1V97pbW Latest news on Twitter: twitter.com/7NewsMelbourne

07.01.2022 It might also be a good idea, if you salary sacrifice super (before tax contribution; which include the employer's portion) to review and ensure their contributions do no go over concessional cap. Heres a link to the ATO website for various concessional cap for different age group. https://www.ato.gov.au//key-superannuation-rates-and-thr/

06.01.2022 Cant believe Term 3 holidays finished. Hope everyone have some R&R. Term 4, budget & PRHP!

05.01.2022 With less than 2 weeks away from the 2016 tax return times, there's some change to the way we can claim our tax deductions.... If you use your private vehicle for business purpose, up until 2015 tax year, there were four methods to calculate and claim your work related car expense deductions: - 12 percent of the original value... - One third of actual expenses - logbook for 12+ continuous weeks - Cents per KM Thats all changed for 2016. The ATO eliminated the 12 percent of original value method AND the 1/3 of actual expenses method from the tax return. Now there are only two methods to calculate car expense claims on your tax return: The logbook method, or the cents per kilometre method. Cents per Kilometre Method * Can claim up to 5000km per year using this method * No log book required * ATO can ask you to explain how you calculated your claim and how the use of your car was work related. * You can claim 66c per work relate regardless of the type of vehicle car logbook method + You must keep a logbook for 12 continuous weeks + You must own the car + You only need to complete the logbook process one time every five years (or less) + Record all business trips AND all personal trips in your car logbook + Keep receipts for all expenses related to your car, including Petrol + Registration + Insurance + Servicing + Interest on loan costs + Depreciation + Other running costs Once you complete your logbook, it is possible to calculate your business-use percentage. (That is the ratio, or percentage split, between between work and personal driving.) Then, you claim the business percentage of all expenses related to your car. Happy tax return!

05.01.2022 Undo sending your mail If you make a typo or regret sending a message, you can undo the action by enabling the "Undo send" lab. This lab will give you the option to take back a message you just sent. To enable the lab:... Click the gear in the top right Select Settings. Click the Labs tab. Find the "Undo Send" lab and select the Enable radio button. Click Save Changes at the bottom of the page. Select the amount of time you have to undo sending a message by clicking the gear icon , and finding the "Undo Send:" section in the General tab of your Settings.

03.01.2022 Unthread your conversations in Gmail

03.01.2022 this is it.... see you in a couple of weeks!!

02.01.2022 Hope everyone have a lovely Christmas and a good new year. Most importantly have a safe and relaxing break!

01.01.2022 for those who wants more financial reviews for less..

01.01.2022 if we dont manage our finance properly, the Government could close our schools.

01.01.2022 The Reserve Bank leaves rates on hold at 2%. STORY | http://yhoo.it/1JKQU32 More on 7 News tonight at 6pm.... #7News #ReserveBank #Finance

01.01.2022 Recevied some welcoming news for schools....