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Taxable payments annual reporting(TPAR)

  • On August 1, 2020
The TPAR details payments made to contractors for providing services. Some government entities also need to report the grants they have paid. If your business makes payments to contractors or subcontractors you may need to lodge a Taxable payments annual report (TPAR) by 28 August each year. TPAR reporting is applicable for the following Industries: Building & Construction services Cleaning […]

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Keys To Success: 5 Reasons Why You Need An Accountant For Your Small Business

  • On July 24, 2020
If you are a business owner, the chances are that you wouldn’t want to be handling all the bookkeeping and accounting details of your company, and that is for a good reason. Perhaps you aren’t exactly good with numbers, or you often miss out on important details, or you would really just rather focus heavily […]
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Accountant vs Virtual CFO – Which One Is Right for You?

  • On July 20, 2020
Accounting is an integral part of a business. An accountant does not only record the financial transactions and keep them in place, but they also help oversee a business’ financial health and make sound decisions towards bettering it.  If you run a startup or have a growing business, it’s imperative to hire a small business […]
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Our Tips to Significantly Improve Your Cash Flow

  • On June 26, 2020
What is ‘cash flow’? As the name implies, it is the flow of your business’ money. It takes a look at where the money is coming from as well as where it is going out to. For instance, sales can be a source of funds, while investments can be where your money goes to.  Another […]
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Individual Tax Return Checklist – 2020

  • On June 24, 2020
It is that time of the year again and being organised can help you in maximizing your tax refund. Have you captured all your work-related deductible expenses to make the most of your 2020 tax return? You can download our 2020 checklist here. Income The Australian Taxation Office (ATO) automatically receives information from your employers […]
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3 Reasons You Need a Cash Flow Statement

  • On June 19, 2020
Wondering if you need a cash flow statement for your small business? Of course! Without it, you won’t have a clear picture of how much money is moving in and out of your business, which may cause you to make poor financial and management decisions.  If you want to remain well-informed about the financial state […]
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15 Tips to Save Money on your 2020 Tax Bill

  • On June 12, 2020
The end of the 2020 financial year is fast approaching. Have you looked at the financial performance of your business to date? What about your year to date personal/family income and expenses? Now is the right time to take stock and review all this. Over the next few days, you can take appropriate steps to […]
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4 Benefits of Cloud Accounting Services You Shouldn’t Ignore

  • On June 12, 2020
Whether you enjoy accounting or not, there’s no denying that it’s critically important in any business. You need it to keep track of your finances, and you must do it regularly if you’re serious about sustaining your business. However, accounting is not always easy to do. Sometimes, simply gaining access to the software you need […]
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4 Reasons Why Your SME Should Outsource Accounting Services

  • On June 5, 2020
A crucial decision for small business owners is deciding when to outsource their financial processes. They might be able to perform accounting functions for a while, but as the business gets more revenue, they should actively consider getting a small business accountant.  When they’re ready, they can hire someone in-house, but an outsourced accounting service […]
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Australian Tax System

  • On May 31, 2020
Taxation is one of the primary income streams for a government. It’s levied upon almost all working individuals and businesses operating in the country. The most significant form of taxation in Australia is the income tax. Australian Tax System is based on progressive rates, which simply means the more an individual’s income is, the more […]