Small Business Bookkeeping in Perth, Western Australia | Financial planner

Small Business Bookkeeping

Locality: Perth, Western Australia

Phone: +61 403 496 705

Address: Britnall Place 6149 Perth, WA, Australia

Website: http://www.perthbizbookkeeping.com

Likes: 60

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• Business service
• Accountant
• Financial service
• Financial planner

24.01.2022 Legislation that comes into effect on 1 April will make it easier for the Australian Taxation Office (ATO) to penalise the directors of companies who have not paid their GST obligations. I recommend a review of your accounting system to ensure you are compliant. Call me on 0403 496 705 if you have any concerns.

24.01.2022 WARNING! Watch out for new scam emails pretending to be from ASIC https://goo.gl/JVEJP4

22.01.2022 Wining and dining clients: Is it tax deductible? Buying a client some coffee or lunch may seem a necessary business cost, but can you claim it as a tax deduction? Frustratingly for small business owners, the tax rules around client meals are not black and white.... Paying for your clients food, drink or recreation in the context of meetings, business lunches and social functions is classed by the ATO as entertainment and is NOT tax deductible. However, the tax office also says that entertainment doesnt occur every time you provide food or drink (Tax Ruling TR 97/17), meaning there are instances when you can deduct these costs against your income. Confused? Here are some pointers to help you work things out. Throwing out the basic rule With client meals, you need to forget the basic rule that you can claim expenses as long as they are directly related to earning your assessable income. Even if you are seeing clients to discuss business matters, the tax office will disallow anything it classifies as entertainment expenses. So the key is to establish what entertainment really means. What is entertainment? There are four aspects to consider when deciding whether the cost of your clients meal is an entertainment expense. 1. Is it being provided for enjoyment or refreshment? Anything provided for enjoyment or in a social setting is regarded as entertainment. However, this treatment doesnt apply to refreshments that allow you, your employees and the client to complete the working day in comfort. 2. How elaborate is the meal? As long as no alcohol is served, simple meals involving sandwiches, finger foods and salads are not deemed to be entertainment. The same goes for morning and afternoon tea favourites like tea, coffee, fruit drinks, cakes and biscuits (Tax Ruling IT 2675). 3. Is it consumed during or outside work time? Refreshments provided during work time will not likely be characterised as entertainment. 4. Is it consumed on your business premises? Food or drink consumed on your business premises is less likely to be considered as entertainment when compared with dining in a function room, hotel, restaurant, cafe or coffee shop. In summary, you may qualify for a deduction if your client is served light refreshments on your business premises during work time. However, it is advisable to consult your accountant or BAS agent for tailored advice. Tax breaks are invaluable to small businesses. Figure out the rules around client meals and you could lower your future business costs.

22.01.2022 Hi Everyone, it would be great if you could share my page with as many people as possible. Have a great day

21.01.2022 Lets get started on this now. Call me if you have 20 or more employees.

21.01.2022 Owning a small business is an exciting venture that can lead to the freedom you desire. However, running it can take up all your spare time. Running it badly can lead to failure. Here are a few pitfalls: little or no knowledge of: * financial management... * ATO compliance * employee or subcontractor relations spending early profits too soon not saving for liabilities like GST and Payroll obligations not maintaining good cash flow not keeping accurate financial records no online presence poor TIME management Thats where we come in. What well do: Maintain your financial records Meet your ATO obligations Meet your payroll obligations Prepare and lodge your BAS Control your debtors and creditors Create and maintain an online presence Call me for a friendly chat and Ill explain how simple it is for us to help.

21.01.2022 The income tax system should be fair so lets stop using "CASH ONLY" nail salons. At least one has been caught out underpaying their staff. Read on.....

20.01.2022 Why EOFY Spending may NOT be good for business. Its almost 30 June and so begins the bombardment to buy now to get a tax deduction this financial year. But is this always true and is it always a wise decision? Do small business owners even consider their financial position before making these decisions?... Are you spending $1 to save 30c? Consider the following before you make that EOFY purchase: 1. Do you really need it? Buying stuff you DONT need seems like a poor business move to me. If you really need to offshoot some funds hire a professional bookkeeper who partners with you and your accountant to make sound financial moves. 2. Is your business making a profit? If youre not making a profit then youre not paying tax anyway! Keep your money, improve your cash flow and use the funds to build your business next year. 3. Is it really a tax deduction? Chances are the whole amount may not be tax deductible in this financial year. Talk to your tax agent BEFORE you make any decisions. 4. Whats the true value of the tax deduction? Just because you spend $10,000 doesnt mean you reduce your tax payable by $10,000. Depending on your business structure your tax will be calculated differently. 5. Is it the best use of your money? Buying new stuff whilst your suppliers, superannuation and tax obligations are unpaid is just dumb. Defaulting on these liabilities may endanger the life of your business and could ruin those that have supported you. 6. Is paying tax really that awful? Yes, thats what I said! After all, you use the infrastructure as much as an employee on PAYG. Dont you think its fair that you also pay for it? Think about it, if youre paying tax then youre making a profit. Id love to have a healthy tax bill over a loss and no money in the bank! Its just plain stupid to wait until the end of the year and then franticly try to reduce your tax bill by making impulsive decisions which may or may not reduce your tax. You need to implement sound tax planning and strategy throughout the entire financial year. So, come on guys, hire a professional bookkeeper who teams up with your business coach and your accountant throughout the year to plan a tax strategy the really benefits your business. Kathryn Purvey Registered BAS Agent Owner of Small Business Bookkeeping

20.01.2022 MYOB handles Single Touch Payroll seamlessly so get prepared now.

18.01.2022 Look out for the Taxable Payment Annual Reporting - some new industries have been added.

17.01.2022 FEDERAL BUDGET 2017/18 The 2017/18 Federal Budget was delivered last Tuesday and there were a few announcements that may impact both your business and your employees. YOUR BUSINESS ELIGIBILITY FOR INSTANT TAX WRITE-OFFS... Introduced in 2016 and expanded in 2017, the Government now plans to continue the instant tax offset throughout 2017/18. Businesses that turn over less than $10 million each year will be able to immediately write-off expenditure up to $20,000. NEW FOREIGN WORKER LEVY The Government intends to charge a levy on businesses that employ foreign workers. Under the plan, businesses would pay a new one-off and annual levy for each foreign worker as follows: Small business: One-off payment of $3,000 with an annual payment of $1,200. Larger business: One-off payment of $5,000 with an annual payment of $1,800. SUPERANNUATION FIRST HOME SUPER SAVER SCHEME The Government plans to allow first home buyers to use superannuation to help them to save a deposit faster. From 1 July 2017, the plan is to allow a person to make voluntary contributions to super of up to $15,000 a year, with a maximum overall contribution of $30,000. Voluntary contributions include salary sacrifice arrangements and personal (after-tax) contributions. From 1 July 2018, these contributions and deemed investment earnings could be withdrawn for a first home deposit. Withdrawals of concessional contributions and deemed earnings would be taxed at an individuals marginal tax rate less a 30% tax offset. CONCESSIONAL CONTRIBUTION CAP For the 2017/2018 financial year, a single concessional cap of $25,000 applies for all age groups. This was announced in the 2016/17 budget and is still going ahead.

15.01.2022 Get this right and save yourself a load of hassle.

12.01.2022 Youll never invoice the old way again.

11.01.2022 Want more time for yourself or your business? Call me on 0403 496 705 For over 25 years Ive been helping small business to streamline and organise their bookkeeping and administrative systems. I am continually amazed at the poor-quality data provided to accountants by professional bookkeepers. Many accountants I work with sadly expect less than 5% of the data files they receive will be accurate. If your books are in order your accountant can spend less time tidying them up a...nd more time working with you to improve your business. Cloud accounting is brilliant. It enables you to outsource your bookkeeping without losing control of your financial data. Outsource and reclaim your free time, use that time for yourself, your family or your business. I am backed by a dedicated team and we pride ourselves on our level of service, our attention to detail and our commitment to you. We are your finance department. We like nothing better than to be involved in your business, talking to your clients, your suppliers, your employees and working collaboratively with your accountant. Nothing is outsourced overseas and our office is manned 6 days a week - 8am till 5pm so were always here to take your calls. See more

08.01.2022 Travelling to represent your business at conferences, expos and trade shows is a great feeling for small business owners! Some of your expenses, like flights a...nd accommodation, may be deductible for the part of your trip that relates to business but if your trip is for both business and pleasure, youll need to apportion your claim. Private expenses like sightseeing or bringing your family with you cant be claimed. Read more about getting your small business travel expenses right at www.ato.gov.au//Income-and-deductions-for-business/Deducti

08.01.2022 How can MYOB AccountRight help your business? How can YOU get the first year FREE? Build your business... Boost profitability and make better decisions with a real-time view of the finances. Add MYOB PayDirect and your sales team can also take credit card payments on a smartphone. Save 10 hours every month Link your bank account to save time on data entry and bank reconciliations. Auto banking matches transactions daily to keep your accounts accurate and up to date. Unrivaled peace of mind Share real-time business information with your team and accountant even if they are in different locations. With AccountRight, you can move your existing company file to the cloud. Unlimited users Share real-time business information with your team and accountant even if they are in different locations. With AccountRight, you can move your existing company file to the cloud. Then you can invite your bookkeeper or accountant to share your file, and wave goodbye to the inconvenience of swapping files. Its easy to get started If youre already using AccountRight its easy to get started theres no need to learn a new system. AccountRight is perfect if you: ++ already use AccountRight, or are familiar with other desktop accounting software ++ have inventory or more complex payroll needs ++ require detailed reporting and customisation ++ need offline access to your business data. MYOB customers that have upgraded to new AccountRight are saving half a day each month managing sales and payments.* * MYOB Client Research September 2013, June 2014. Call me today to find out how MYOB AccountRight can help your business and get the first years subscription FREE.

05.01.2022 CALL KATHY ON 0403 496 705 TO TAKE UP THIS OFFER With tax time just around the corner, now is the perfect time to move your accounting file online to start the ...new financial year with efficient new processes and the latest tax updates. If you choose to move your desktop AccountRight file online before June 30, youll receive 50% off for a 12 month subscription. See more

05.01.2022 Amazing Offer.... Take your MYOB online with me and get the first years subscription absolutely FREE.... yes... thats a saving of up to $1104 ! Call me to discuss. Conditions do apply.

04.01.2022 FREE MYOB LIVE SUBSCRIPTION FOR ONE YEAR Change the way you manage your accounts. Whether you are new to MYOB or use it locally on your desktop then now is the time to GO LIVE! Partnering with MYOB I can offer you the first years online subscription FREE. Thats a saving of up to $1104! Call me now to find out how. Let me help you embrace cloud technology because once you understand the very real and tangible benefits you wont know how you managed without it. I can... show you how cloud based bookkeeping can free up at least ONE FULL DAY per month valuable time you can use for your business and personal life Here at Small Business Bookkeeping our team of bookkeepers are also YOUR support staff. BAS Agents partnering with MYOB provide the perfect solution to ensure the efficient running of your business. We offer our clients the full spectrum of bookkeeping services, from simple set up of a cloud-based system to lodging BASs quarterly, right through to paying all bills on a regular basis. Services include data entry, accounts payable/receivable, debt collection, payroll, super, GST and BAS. Whatever you need we can provide access to your live and current data on any device so you can track your progress and analyse performance any time anywhere. Bookkeeping is a necessary but time-consuming task for your business but with Cloud Technology it neednt be so. Gone are the days when you needed someone to sit in the office to do the books a couple of days a week. Gone are the days when you stayed up all night because the dreaded BAS was due the next day. We take every opportunity to use technology to achieve an advantage for our own business and the Perth businesses we work with. If youre considering taking your accounts online give me a call. I promise MYOB will blow your mind and change your business life. Regards Kathryn Purvey Registered BAS Agent MYOB Partner ICB Member

03.01.2022 ATO Economic Response to the Coronavirus CASH FLOW ASSISTANCE FOR BUSINESSES FACT SHEET https://documentcloud.adobe.com/link/track

02.01.2022 Really enjoying the MYOB Partner Connect in Perth