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25.01.2022 More GST mistakes: Expenses relating to residential rental properties where the entity is registered for GST. Residential premises are input taxed and therefore GST credits cannot be claimed on the expenses paid; Business insurance policy. As there is a stamp duty component in the premium which is not subject to GST, a GST credit cannot be claimed on this portion of the payment. The actual amount of GST payable on an insurance premium is usually stated on the renewal form;

23.01.2022 Have just become a Workflow Max advisor looking forward to working with this innovative software. WorkflowMax offers you a complete, cloud based solution to manage projects and jobs. Its often all a small business needs http://www.workflowmax.com/integrated-project-management

21.01.2022 To my clients and ex clients I am increasing my presence on the internet and would appreciate if you could take 5 minutes out of your day to leave a review on oneflare a lead generating site. Thanks in adavance

18.01.2022 SuperStream reforms SuperStream reforms mean employers will be changing the way they send super contributions for their employees. SuperStream has introduced standard file formats for all employers and funds to use, and stipulates that all payments be made electronically. What this means for you:... Your superannuation contributions will need to conform to the SuperStream standards by the applicable date, based on the size of your organisation. The standards require employees to: provide minimum mandatory data required to allocate a contribution send all data electronically make contribution payments electronically link data and money with a unique payment reference number ensure data and payments are sent on the same day, and respond to fund requests for complete information within 10 business days. So if you currently make contributions via cheque, paper-based instructions, email file or SuperPay youll need to change your processes. Your payroll system provider or default fund may offer a SuperStream compliant method for submitting contributions, or you could engage a clearing house to submit compliant contributions on your behalf. ATO deadlines for SuperStream compliance You should consult with the ATO to be sure of your SuperStream obligations. Employers with 20 or more employees were required to be SuperStream compliant by 31 October 2015, however the ATO may provide flexibility as long as employers have a firm plan in place to meet SuperStream requirements. Employers with 19 or fewer employees must be compliant by 30 June 2016.

15.01.2022 Small business superannuation clearing house (SBSCH) Having trouble accessing the SBSCH? You may need to update links you have previously used.http://australiantaxationoffice.cmail2.com/t/d-l-jjkltkt-j/

13.01.2022 Over the next little while I will be outlining some common GST mistakes. Starting with: Bank Fees (e.g. monthly and annual fees, chequebook fees and loan establishment fees). Bank fees are treated as input taxed meaning the bank doesnt charge GST to the customer. Note, GST is charged on credit card merchants fees and therefore a GST credit can be claimed on these expenses; Government Fees where no GST has been charged should be costed FRE. Examples include land tax, council rates, water rates, ASIC filing fees and motor vehicle registration;

11.01.2022 Welcome aboard Grand Chancellor Surfers Paradise will look forward to working with you till the end of the year!

10.01.2022 The ATO is looking at tradies this year especially those with a cash income. I would advise having your benchmarks reviewed and compared against those of the ATO. Be prepared "Dib Dib".

07.01.2022 Hi guys just read a good article on 9 reasons why businesses switch to cloud accounting solutions. It can be read here https://link4.co//9-reasons-why-businesses-switch-to-clou/

05.01.2022 Hi all interesting article if you need help to decide on xero https://technowand.com.au//how-xero-saved-my-marriage-in-c

04.01.2022 Sale of cars and equipment, including the trade of motor vehicles. The sale of a business asset is subject to GST just like any ordinary business transaction unless the going concern exemption is claimed; Government grants and incentives which are received inclusive of GST; GST-free purchases such as basic food items, exports and some health services; Wages and superannuation payments are non-taxable supplies