TJS Bookkeeping Services in Sutherland, New South Wales, Australia | Financial service

TJS Bookkeeping Services

Locality: Sutherland, New South Wales, Australia

Phone: +61 432 506 423

Address: Sutherland Shire 2232 Sutherland, NSW, Australia

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

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23.01.2022 SUPER CONTRIBUTIONS ON BEHALF OF YOUR SPOUSE. DID YOU KNOW THAT YOU CAN RECEIVE AN 18% TAX OFFSET ON SUPER CONTRIBUTIONS OF UP TO $3,000.00. WHILST $540.00 A YEAR MAY NOT SOUND SIGNIFICANT, OVER TIME THIS HAS THE BENEFIT OF BUILDING UP YOUR SUPERANNUATION NEST EGG, AS WELL AS, REDUCING YOUR TAX.... INTERESTED? WANT TO KNOW MORE? ASK US TJS BOOKKEEPING SERVICES - WE'RE HERE TO HELP.

22.01.2022 ACCOUNTING SOFTWARE - WHICH IS THE RIGHT OPTION FOR YOUR BUSINESS? With today's market offering so many options for accounting software, it can become confusing when considering what is the best option for your business. There are cloud based software programs which have the added feature of bank feeds. This is where your bank downloads your bank statement to your software, so that you can apply your income and expenses relatively quickly and easily to your accounting softwa...re. There is also the option of buying 'box' accounting software. This is where you own the software but have the option of paying for a subscription that gives you support and upgrades which consist of the latest tax tables etc. So when considering which option suits you, keep in mind, that with cloud based software - once you stop paying the monthly subscription fees - you no longer have access to your company file. There are many things to consider when choosing which is the right option for your business. Ask us at TJS Bookkeeping Services - we're here to help and guide you on the best option for your business.

22.01.2022 HOW DID SMALL BUSINESS FARE IN LAST NIGHTS BUDGET? One key benefit is that any new equipment purchased, up to $20,000, can claim the full depreciation amount. Small businesses with a turnover of up to $10 million can instantly write-off against tax on new equipment worth up to $20,000. ... This write-off is here for another year with the Government now allowing businesses with revenue of up to $10 million to access the write-off. The amount of $20,000 must be the total value, in other words, if you decided to upgrade some equipment by trading in your older equipment - and this brought the total value of the equipment to $30,000 - you wouldn't be able to utilize this initiative. Want to know more? Ask us at TJS Bookkeeping Services, we're here to help. www.tjsbookkeepingservices.com.au

21.01.2022 THE BACKPACKER TAX The new tax rate of 15% applied from the 1st of January 2017. For every dollar earnt, 15% needs to be withheld up to $37,000 - after this amount the foreign resident tax rates apply. You must register with the ATO by the 31st of January 2017 to withhold this backpacker tax.... If you are already employing holiday makers, you will need to issue 2 payment summaries with the different rates. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

21.01.2022 Make your future brighter and better by getting organized today! Set yourself a goal each day, no matter how small that goal may be.

20.01.2022 WHY NOT MAKE TODAY THE START OF SOMETHING BIG!

19.01.2022 ARE YOU WORKING HARDER OR SMARTER? Have you thought of Salary Sacrificing for Superannuation? This is a great way to increase your superannuation, whilst reducing your tax. There is an even greater incentive for people aged 50 & over with a higher concessional cap.... Want to know more? Are you eligible? Ask us at TJS Bookkeeping Services about eligibility. We're committed to getting the best outcome for our clients by doing our utmost to reduce their tax and enabling them to work SMARTER, not HARDER!! Don't forget about out special offer - by clicking 'Like' on our TJS Bookkeeping Services page and booking before the 27th of October 2015 - you are entitled to one FREE 2 HOUR CONSULTATION.

18.01.2022 BEWARE OF OVER CLAIMING YOUR EXPENSES As reported in The Sydney Morning Herald, the ATO will be looking at claims that have already been reimbursed by employers. These expenses may include motor vehicle expenditure, home office usage, telephone and ADSL. Once you have claimed this expenditure through your place of business, you cannot again claim these expenses on your tax. The ATO will also look at work-related expense claims that are significantly higher than expected, a...s well as, claiming your full mobile phone bill and internet connections that are 90 per cent personal use but only 10 per cent work-related Want to know more, ask us as TJS Bookkeeping Services, we're here to help. www.tjsbookkeepingservices.com.au

17.01.2022 ACCOUNTING SOFTWARE In a previous post, I have spoken about online software versus box software. You can subscribe to online software and you would usually pay monthly or you can buy software from a retailer and pay for a subscription, again usually monthly, to enable the owner of the software to be able to download the latest software updates, tax tables etc. The difference being, once you have bought a boxed software - it can't be taken away.... Both are good options, however, be aware of a couple of things if you sign up for online software. You only have access to this software whilst you are paying the subscription for it. If a third party is the one paying for the subscription - this is where it can get tricky. Recently, a client was allowing a third party to pay for his software subscription. The client then wanted to move away from this third party, however, because the software subscription wasn't in my client's name - the software company wouldn't allow him access to his file, nor would they allow him to takeover the subscription - unless the third party was in agreeance. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

16.01.2022 FIRST QUARTER REPORTING Yes, it's that time again - BAS is due next week! Whilst most of us concentrate on our sales (and that is a good thing), keep in mind the importance of our expenditure.... To really understand the strengths and weaknesses of any business, you need to be able to properly assess its expenses. Before lodging, or reviewing your businesses first quarter, check 3 things. Firstly, have you recorded your home office expenditure (and that means - even if you only use 10% of your home for business usage such as invoicing etc). Secondly, have you recorded all of your out-of-pocket expenditure and lastly, have you recorded ALL of your expenditure including cash purchases, as well as, your income. Once you have completed those 3 steps you are now ready to review how your business went in this first quarter, as well as, compiling your BAS. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

15.01.2022 Don't forget to take advantage of our special offer. FREE 2 HOUR CONSULTATION. To take advantage of this limited offer, like our Facebook page and book in before the 27th of October 2015

15.01.2022 Focus on building the new and success will follow

14.01.2022 A company has a van/ute that is 100% business usage. The owners of that company are now thinking of purchasing a second car that will be used for business, as well as, personal usage? Should the company actually buy the car given as it will not be used 100 per cent for business purposes? There is nothing stopping your company buying a car that will not be used 100 per cent for business purposes. The problem will be that by buying the car through the company you could be cre...ating a tax and administrative nightmare for yourselves. Before purchasing the car through the company you should try and estimate what the business use will be. If it is going to be less than 50 per cent, and depending on the cost of the car and its running expenses, it may be better to purchase it personally and receive a car allowance from your company and claim the expenses in your personal tax return. Written by: Max Newnham, SMH

14.01.2022 HEALTH & MEDICAL During a recent conversation with a supervising specialist at the ATO, I put to him a scenario that may involve either a working director of a company, a sole trader or a partner of a partnership. This scenario involved an injury that was sustained at that persons business (for argument sake, let's say it's a knee injury) that was limiting the persons ability to perform their usual tasks effectively.... To enable that person to again be able to perform their usual tasks, is it reasonable for the medical costs, associated with their rehabilitation, be charged as a business expense? The short answer was NO. The above costs should either go through as workers compensation, sickness or accident insurance or personal health insurance. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help.

14.01.2022 ACCOUNTING SOFTWARE - WHICH IS THE RIGHT OPTION FOR YOUR BUSINESS? With todays market offering so many options for accounting software, it can become confusing when considering what is the best option for your business. There are cloud based software programs which have the added feature of bank feeds. This is where your bank downloads your bank statement to your software, so that you can apply your income and expenses relatively quickly and easily to your accounting softwa...re. There is also the option of buying box accounting software. This is where you own the software but have the option of paying for a subscription that gives you support and upgrades which consist of the latest tax tables etc. So when considering which option suits you, keep in mind, that with cloud based software - once you stop paying the monthly subscription fees - you no longer have access to your company file. There are many things to consider when choosing which is the right option for your business. Ask us at TJS Bookkeeping Services - were here to help and guide you on the best option for your business.

13.01.2022 BAS & SUPERANNUATION Just a reminder that the January to March (3rd quarter) BAS & Superannuation is getting due. It's also a great time to review the performance of your business. A lot of businesses use this time to start advertising their products and promote their services. So what are you waiting for - get busy and start promoting the great products and services that you specialize in.... Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

12.01.2022 TAKE ADVANTAGE OF THE $20,000.00 WRITE-OFF THIS AND/OR NEXT FINANCIAL PERIOD From 1st July 2016 the instant write-off (depreciation) for equipment purchases up to $20,000.00 will be available for businesses with a turnover of up to $10 million. This concession will expire on June 2017. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help.... www.tjsbookkeepingservices.com.au

11.01.2022 SUB-CONTRACTOR OR EMPLOYEE? Working out if a worker is a contractor or an employee can appear, at first glance, quite simple. If the person has an ABN, then th...ey must be a contractor - right? Unfortunately, it's not quite that simple. There a number of factors which determine that the worker is a contractor rather than an employee. Such as; * They pay their own super/tax * They submit an invoice for work completed; * They do not receive paid leave or sick pay; * They are free to sub-contract the work; * The person is free to accept or refuse additional work. * They do work for other individuals/organisations Penalties can apply if an individual/organisation gets the above wrong. Want to know more. Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

11.01.2022 SALARY SACRIFICE - SUPERANNUATION Planning for your future is always a good thing. Why not consider utilizing the current tax legislation in regards to salary sacrifice - superannuation. For example. Let's say you earn $90,000 per annum. If you were to pay an additional $40.00 per week in superannuation, as a salary sacrifice, you would save approximately $499.00 in tax savings per year, as well as, increasing your superannuation in your retirement.... Your employer must still pay the compulsory super guarantee - currently at 9.5%. If you are under 50 years of age, the salary sacrifice of superannuation is capped for pre-tax contributions to $30,000.00, at a taxable rate of 15%. So why not consider saving some tax, as well as, saving for a comfortable retirement. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

10.01.2022 TODAY IS THE LAST DAY TO TAKE ADVANTAGE OF OUR SPECIAL OFFER!! We are offering a, one off, FREE 2 HOUR CONSULTATION. To take advantage of this great offer, like our TJS Bookkeeping Services page and book in by the close of business today. Bookings can be made for a future date, however, to be eligible for this great offer - bookings must be made by the 27th of October 2015.... SO WHAT ARE YOU WAITING FOR.........WHY NOT GET YOUR BUSINESS ORGANIZED TODAY!!

10.01.2022 The Fair Work Commission has announced a 2.4% increase to minimum wages. This increase will apply for the 1st July 2016. A fast way of checking compliance with this increase is to go to the Fair Work website (www.fairwork.gov.au), click on pay rates, use their pay calculator and set the date to 1st July 2016 or after this date.... If you are ensure what award to utilize, this area of the site will also offer some help. Want to know more? Ask us at TJS Bookkeeping Services, we're here to help. www.tjsbookkeepingservices.com.au If you are ensure what award to utilise, this area of the site will also offer some help.J A fast way of checking compliance with this increase is to go to the Fair Work website (www.fairwork.gov.au), use their pay calculator and set the date to 1st July 2016 or after this date. If you are ensure what award to use, there is also some help on this issue. Want to know more?

09.01.2022 Remember the saying "SERVICE WITH A SMILE". Those businesses who truly do value their customers, who make the time to help their customers are the businesses that will be around tomorrow. So remember, SMILE, BE HELPFUL and you will see the results in the long term.

09.01.2022 REPORTING BAS/PAYG - WHICH IS THE RIGHT TIME FRAME FOR YOUR BUSINESS? At the time of setting up your business, you may have set your reporting period to quarterly or monthly with the ATO. This is fine, if it suits your business setup and functionality. Keep in mind that this reporting period can be changed at any time. ... It may suit you to report your GST quarterly but report your PAYG Withholding monthly or vise versa. It may depend on whether you set up your business as 'Cash reporting' or 'Accrual Reporting'. If you have recently set up a new business, you may find that initially your purchases are higher than your income. That being the case, for cash flow purposes, it may be better to report monthly. After that initial set up period, hopefully, things have changed and your income is now more than your purchases. If this is the case, you may be better off reporting quarterly. It's all about cash flow, time management and what works best for you. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

08.01.2022 THE IMPORTANCE OF EXPENSE RECORDING Whilst we all concentrate on building up our income and getting those sales, at times, we can forget about the importance of recording all of our expenses. At the end of the day, those expenses can dictate what tax we have to pay.... By recording expenses, such as, home office usage, out of pocket expenditure, motor vehicle, day to day business expenditure etc. we can significantly reduce our tax bill at the end of each financial year. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help.

08.01.2022 Are you receiving the Government Co-Contribution for your Superannuation? The Government can pay up to $0.50 for every $1.00 that you contribute to super - up to $500.00 a year! Are you eligible for this Government Co-Contribution??... Ask us at TJS Bookkeeping Services about your eligibility on receiving this great incentive and how to put it in place. Get you super working for you today!

07.01.2022 HAVE A WONDERFUL NEW YEAR. MAY 2016 BE FULL OF GREAT HEALTH, WEALTH AND WISDOM

05.01.2022 In the 2015-16 Budget there are 3 key points, for a small business, (turnover less than $2 million) that will save that business money. 1. The company tax rate went from 30% to 28.5%; 2. 100% depreciation can be charged immediately for assets costing less than $20,000. ... 3. Fringe Benefits Tax exempt for employers that provided their employees with work related electronic devices. Is your business organized and ready to implement these benefits? Want to know how? Contact us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

05.01.2022 SUPER STREAM - WHATS IT ALL ABOUT? From the 1st of July 2016, regardless of how many employees you have, superannuation payments must be made via a super stream payment method. To date, you may be manually paying superannuation into 4 or 5 different superannuation funds. This can be very time consuming, especially given the fact that each employee has the right to choose what superannuation fund their payments get credited to. ... To make it easier for employers, and help to ensure employees get their superannuation payments, the Government has now introduced this ruling in relation to Super Stream. This ruling is currently in place for employers that employee 20 or more employees. From the 1st of July 2016 it will be compulsory for all employers to utilise a super stream payment method. Sound confusing? Its not, its actually a very easy process. One payment can be made either through your accounting software (e.g. MYOB), the ATO or a superannuation fund that offers this service. The employer uploads the report showing what each employee has accrued in the way of superannuation and for what period, and makes the total payment. This payment then gets distributed according to the detailed report. If you already have a subscription through MYOB - this service is free as it is incorporated into your subscription. Want to know more? Contact us at TJS Bookkeeping Services - were here to help. www.tjsbookkeepingservices.com.au

04.01.2022 SUPER STREAM - WHAT'S IT ALL ABOUT? From the 1st of July 2016, regardless of how many employees you have, superannuation payments must be made via a super stream payment method. To date, you may be manually paying superannuation into 4 or 5 different superannuation funds. This can be very time consuming, especially given the fact that each employee has the right to choose what superannuation fund their payments get credited to. ... To make it easier for employers, and help to ensure employee's get their superannuation payments, the Government has now introduced this ruling in relation to Super Stream. This ruling is currently in place for employers that employee 20 or more employees. From the 1st of July 2016 it will be compulsory for all employers to utilise a super stream payment method. Sound confusing? It's not, it's actually a very easy process. One payment can be made either through your accounting software (e.g. MYOB), the ATO or a superannuation fund that offers this service. The employer uploads the report showing what each employee has accrued in the way of superannuation and for what period, and makes the total payment. This payment then gets distributed according to the detailed report. If you already have a subscription through MYOB - this service is free as it is incorporated into your subscription. Want to know more? Contact us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

04.01.2022 PAYG & BAS LODGEMENT DUE THIS MONTH. ARE YOU ORGANIZED?? WHY NOT TAKE ADVANTAGE OF OUR SPECIAL OFFER - LIKE TJS BOOKKEEPING SERVICES FACEBOOK PAGE, AND BOOK IN BEFORE THE 27TH OF THIS MONTH TO RECEIVE ONE 2 HOUR FREE CONSULTATION. SO WHAT ARE YOUR WAITING FOR? GET ORGANIZED TODAY AND RECEIVE THE BENEFITS IN THE FUTURE

04.01.2022 2016/2017 TAX TABLES Currently there has been NO change to the PAYG withholding rates and thresholds for 2016/2017. If you are earning more than $80,000 per annum, you will have to wait for legislation to pass in the Federal Parliament before you receive the tax cut of up to $6 per week.... The only PAYG withholding formulas that will change from 1 July 2016 are those relating to HELP and SFSS repayments. Want to know more? Ask us at TJS Bookkeeping Services - we're here to help. www.tjsbookkeepingservices.com.au

04.01.2022 FIRST QUARTER REPORTING Yes, its that time again - BAS is due next week! Whilst most of us concentrate on our sales (and that is a good thing), keep in mind the importance of our expenditure.... To really understand the strengths and weaknesses of any business, you need to be able to properly assess its expenses. Before lodging, or reviewing your businesses first quarter, check 3 things. Firstly, have you recorded your home office expenditure (and that means - even if you only use 10% of your home for business usage such as invoicing etc). Secondly, have you recorded all of your out-of-pocket expenditure and lastly, have you recorded ALL of your expenditure including cash purchases, as well as, your income. Once you have completed those 3 steps you are now ready to review how your business went in this first quarter, as well as, compiling your BAS. Want to know more? Ask us at TJS Bookkeeping Services - were here to help. www.tjsbookkeepingservices.com.au

03.01.2022 BAS - 2ND QUARTER It is now approaching that time again, the October to December 2015 BAS can now be lodged. Whilst you may groan at the thought of more reporting, this is actually a good thing. This now gives you an opportunity to view your half yearly progress in relation to your business.... It's important to make sure that your reporting on ALL of your expenses. This includes out-of pocket expenditure such as, cash purchases, percentage of home office usage, rental fees and any depreciation that wasn't applied last year. It's great to concentrate on our sales, after all, without those sales - we wouldn't have a business. However, it's equally important to report on all of our expenses. This way we get a true picture of how our business is progressing and the half way mark is a great place to check on that progress. Want to know more? Ask us at TJS Bookkeeping Services, we're here to help. www.tjsbookkeepingservices.com.au

02.01.2022 Dont forget to take advantage of our special offer. FREE 2 HOUR CONSULTATION. To take advantage of this limited offer, like our Facebook page and book in before the 27th of October 2015

01.01.2022 BE SUCCESSFUL - ORGANIZE YOUR BUSINESS TODAY!