With the roll-out of Single Touch Payroll (STP) now finalised for many employers, it’s never been a more important time to ensure that you’re complying with your employee obligations. The Australian Taxation Office (ATO) now have more information than ever before including detailed records of payments made to employees in real time. Given we consistently …
Continue reading “Superannuation obligations & you – the ATO is watching”
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The re-introduced legislation to remove the Capital Gains Tax (CGT) main residence exemption for foreign residents has been passed by the Parliament on 5 December 2019 and is now awaiting Royal Assent. Let’s look at how this may affect you. The proposed legislation was originally introduced by the Government in February 2018 but had lapsed …
Continue reading “Tax sting on Australian Expatriates Main Residence”
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Do I need to pay tax on my Crypto currency earnings? Short answer; Yes. Any earnings received via cryptocurrency count as income. So if you’ve bought or sold cryptocurrency in the last financial year, it’s time to start thinking about the impact this may have on your income tax return. If you’ve made a profit …
Continue reading “Crypto Currency and Your Tax”
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The straight answer? YES! One of the first things on your Startup list should be to hire an experienced Bookkeeper. An NCA Bookkeeper will not only provide these baseline services (bookkeeping, software advice) you require all year round, but so much more! They will help you reduce risk such as employment risk and ATO risk, …
Continue reading “Does my Startup really need a Bookkeeper?”
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Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if …
Continue reading “Improving cash flow: How to get paid faster”
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To help you manage your books better and give you the information you need to run a successful business 1. Find a good Advisor When you have Bookkeepers and Accountants that you know you can trust and rely on, it’s going to make everything simpler. They can teach you how complete your Bookkeeping properly and …
Continue reading “Top 10 Bookkeeping Tips”
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It is a common oversight by many business owners in that they believe that engaging a contractor automatically means that they are not responsible for paying any super entitlements or withholding tax. This isn’t necessarily correct, and in fact the ATO and the Office of State Revenue looks closely at the true relationship between a …
Continue reading “Contractor or Employee? – getting it wrong can cost you”
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Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business.
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Thank you to all that attended our “Setting Financial Goals & Planning For Success” seminar on Wednesday night. We had a good turnout and really appreciated the amazing feedback. This seminar was number two in a series of three so if you missed out be sure to sign up to the final session:
– Understand & Evaluate Your Business Through The Power of Business Reporting (4 September 2019)
To RSVP to the above great event please contact Sam Ballantyne on 08 9387 0000 or sballantyne@ncaa.com.au
Spaces are limited so RSVP now!
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As Accountants we hear many people ask the question “Why do I need a business plan?” or make a comment along the lines of “I know how to run my business I just want to go out and do it”! Whilst there are many answers and responses to the above it really comes back to two key words; direction and commitment
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The greatest trap many of us fall for is to set too many goals for the new financial year!
We have found that the most successful planning years tend to be when we have a smaller number of strategies, but with targeted plans towards their achievement.
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Good planning is a hallmark of all successful businesses.
But before planning comes the “Chemistry Test”… is the business right for you?
