Northern Sky Accounting and Advisory in Berrimah | Business consultant

Northern Sky Accounting and Advisory

Locality: Berrimah

Phone: +61 1300 786 214

Address: 631 stuart hwy 0828 Berrimah, NT, Australia

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

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• Business service
• Accountant
• Business consultant

25.01.2022 Good news for business to assist with sustainability measures.

25.01.2022 Get set for a 3.3% wage increase on 1 July 2017 http://thefairworkombudsman.cmail20.com//ACB0D206BC256EEE8

23.01.2022 Love our great country

22.01.2022 Give wings to your dreams and work towards making them come true

22.01.2022 It was a pleasure to visit one of our clients in my home town of Alice Springs - Gap Community Child Care Centre. Eva and her staff have created a warm and inviting service for families and children in the Red Centre. FY19 is going to be a big year with several capital improvement projects. Keep up the great work Eva

21.01.2022 In Melbourne learning more things about what MYOB can do for our clients - we look forward to sharing with you all

21.01.2022 Starting a new business? ..... The team at Northern Sky can help with business planning, choosing a structure that will best suit your needs, ATO registrations, payroll tax, insurance and recommending the most appropriate bookkeeping, invoicing and payroll system. We are passionate about helping our clients succeed in their business.

20.01.2022 ATO COVID-19 Stimulus Cash flow Boost for Businesses - Explained https://www.ato.gov.au///Boosting-cash-flow-for-employers/

20.01.2022 Just spent 2 days on beautiful Groote Eylandt delivering a governance workshop to the wonderful committee and staff at Seagrass Early Learning Centre and OSH.

20.01.2022 STP is now a requirement for ALL businesses heres what you need to know.

17.01.2022 Australian property prices are on the decline. Here's how small business owners can capitalise on the drop.

16.01.2022 Budget 2019 Last night, the Federal Government handed down its Budget for the next financial year (FY20). This is the first Budget delivered by Treasurer Josh Frydenberg and will be the final Budget before the next Federal Election. If there is a change of Government at the Federal Election, these proposals may be changed or removed from the next and subsequent Budgets. With tax cuts for individuals, immediate tax relief for low to medium income earners, advantages for thos...e heading into retirement, and benefits for small and medium businesses - this budget seems to have something for everyone. Three big wins coming out of this budget are the further lowering of personal tax rates, as well as the instant asset write-off for businesses being increased to $30,000 (effective immediately) and extended to 30 June 2020. Lastly, immediate tax relief of up to $1,080 will be available to low and medium income earners, after they lodge their end of year returns from 1 July 2019. Its important to remember that these are only proposals at this stage, and each proposal will only become law once its passed by Parliament. Mr Frydenberg said the Budget is back in the black, announcing a budget surplus of $7.1b, and forecasting a surplus of $11b in 2020/21, $17.8b in 2021/22 and $9.2b in 2022/23.

16.01.2022 NT Business Improvement Grant All Territory businesses will be able to access a $10,000 grant, followed by an additional $10,000 grant if they contribute $10,000 of their own. Each business is only eligible to receive one grant, and it can be used to complete one or two different jobs on their premises.... The grant can be used to purchase goods and services to make permanent physical improvements to a business (land and / or building) that help improve its operations and customer experience. Solar PV panels and solar PV install are excluded. https://business.nt.gov.au/recov/business-improvement-grant For businesses doing the works It is easy to get involved, all it takes is five minutes to apply to register online. Business registrations will open on Monday 30 March 2020. Businesses will be able to apply for the grant funds from Monday 13 April 2020.

16.01.2022 A good read - Sustainable Business Growth

15.01.2022 NT Stimulus - recovery plans announced today

14.01.2022 Single Touch Payroll reporting for small businesses starts on July 1st. Here's what you need to know to stay compliant.

13.01.2022 Some exciting news for small businesses - on 29 January 2019, the Prime Minister announced that the government will introduce legislation to increase the $20,000 instant asset write-off threshold to $25,000 from 29 January 2019 until 30 June 2020. This proposal is not yet law. Simplified depreciation rules instant asset write-off The $20,000 instant asset write-off threshold has been extended to 30 June 2019.... If you are a small business, you can immediately deduct the business portion of most assets that cost less than $20,000 each if they were purchased: from 1 July 2016 to 30 June 2019, and your turnover is less than $10 million from 7.30pm on 12 May 2015 to 30 June 2016, and your turnover is less than $2 million. This deduction is used for each asset that costs less than $20,000, whether new or second-hand. You claim the deduction through your tax return, in the year the asset was first used or installed ready for use. https://www.ato.gov.au//sma/what-s-new-for-small-business/

12.01.2022 Tips for avoiding awkward business encounters

12.01.2022 Simple checklist of priorities for your business: 1. Be aware of Government-mandated closures 2. Keep friends and family safe by observing social distancing measures 3. Consider going cashless/touch less where possible 4. Be sure youve signed up for myGovID (AUSKey will no longer be available)... 5. Continue to measure cash flow 6. Understand stimulus measures, and if youre eligible for them 7. Consult with your key business advisors 8. Consider ways to begin pivoting your business model for the duration of lockdown 9. Be a considerate employer 10. Stay positive, seek help when needed See more

12.01.2022 Handy HR help for business, best of all its free

11.01.2022 Our Team Katie Wojciechowski - Bookkeeper Originally hailing from the outskirts of the Wheatbelt in Western Australia, now a proud Territorian Katie brings over 15 years of bookkeeping, administration and management experience to the Northern Sky team.... With the foundations of her career built at global firms Price Waterhouse and PKF International Katie then moved into small to medium business management where she has honed her skills and developed a true passion for helping businesses to maximise efficiency and realise their potential. Katie loves the challenges and diversity that the Northern Territory offers and relishes the opportunity to broaden her horizons working with the NSAA team. For more on Kate see northernsky.com.au

10.01.2022 Handy EOFY tips for SMEs

09.01.2022 Have no time to work on your business? - Outsourcing your accounts function including payroll, accounts payable, bank reconciliations and BAS's can relieve the burden from managing your business - we can help your business run smoothly. Contact Belinda at NSAA on 1300 786 214

07.01.2022 Our Team Bronwyn McRostie BAcc. ASA Management Accountant Bronwyn has called Darwin home for the last 18 years.... Feeling that she required more knowledge to build the business, she under took a Batchelor of Accounting at Charles Darwin University part-time, completing the degree in 2015. The study increased and cemented the financial knowledge gained in running the business and built a desire to help other small business and not-for-profit organisations to grow. Further studies have commenced with the desire to gain a CPA. Bronwyn has been on many committees during the 20 years she has been in Darwin, more often than not as the Treasurer. She is currently Treasurer of the Lions Beer Can Regatta, Nightcliff Lions Club and the 2018 Lions Convention. She is also a board member of the NT Community Benefits Funds Committee and committee member of Palmerston Regional Business Association. She has worked with a number of commercial and community based organisations since finishing her degree, including Danila Dilba, Chartair, and Darwin Shipstores. She is very happy to have joined the NSAA team, with the culture and organisations goals aligning with hers. Qualifications: - Batchelor of Accounting Charles Darwin University - Outstanding Academic Achievement in Financial and Corporate Accounting, May 2013 - Associate CPA Australia - Board Member Community Benefit Funds Committee

07.01.2022 https://www.youtube.com/watch?v=CpBz-9YnPVA&feature=youtu.be

06.01.2022 The end of year festivities with clients has begun. A wonderful group of ladies.

06.01.2022 Our Team Angela Barling Angela originally came from the dairy farming region in the South West of Victoria. Living throughout Australia including nearly 10 years in the Territory based in Alice Springs.... Angela has worked extensively within bookkeeping and various finance related roles for over 20 years. Working within many different industries gives Angela a well-rounded understanding of different business structures and best practices within the accounting and bookkeeping industry. Angela has worked at many levels within businesses including payroll, accounts payable, finance management With a high level of efficiency and attention to detail, along with her vast experience Angela makes a great addition to the NSAA team.

04.01.2022 Small business tax changes from 1st July 2017 https://www.ato.gov.au//gene/new-law-for-tax-concessions/

03.01.2022 Why the Balance Sheet is so important? Most small businesses look at the Profit and Loss Statement regularly, but many dont understand the importance of the Balance Sheet. At Northern Sky Accounting and Advisory we advise our clients to review their business Balance Sheets monthly or at a minimum quarterly. What is a Balance Sheet?... A business Balance Sheet is a detailed list of its assets, liabilities (or money owed by the business), and the value of the shareholders equity (or net worth of the business) at a specific point in time. Assets are anything of value owned by the business, liabilities are debts owed to outside creditors or other parties and shareholders equity is the amount owed to the business owners. Its called a Balance Sheet because assets must always equal liabilities plus shareholders equity the two sides balance out. Balance Sheet classifications Assets and liabilities are classified further to help you monitor your financial position. Both are broken down into current and non-current to show how soon they must be turned into cash (assets) or repaid (liabilities). Current refers to a period of less than twelve months, while non-current refers to a time period greater than twelve months. Current assets include cash and other items that will likely be turned into cash within a 12-month period, such as accounts receivable (monies owed from customers or debtors) and stock and other assets to be sold within twelve months. Listed after current assets are fixed assets, which are assets that will continue to exist in their current form (not cash) for more than twelve months. Fixed assets can include office equipment, furniture, tools, company vehicles, and more. Liabilities are listed on the Balance Sheet in order of how soon they must be repaid. Current liabilities those that must be repaid within 12 months are listed first. Then non-current liabilities (due after 12 months) are listed, followed by shareholders funds (equity). Current liabilities typically include monies owed to suppliers, credit card debt and bank overdrafts. Non-current liabilities may include loans from external stakeholders. Why is the Balance Sheet important to your business? The Balance Sheet provides a picture of the financial health of a business at a given moment in time usually the end of a month or financial year. It can tell you if you owe more money than what you currently have, the current value of your assets and the overall value of your business. More importantly, if you familiarise yourself with using financial ratios, the Balance Sheet can provide warning signs so you can solve any problems before they destroy your business. The Balance Sheet is a vital financial statement you should be reviewing regularly, as it changes with every transaction.

02.01.2022 Wise words from Albert