News Archives

Nationwide Bookkeeping & Accountants Services

Payroll Tax Changes
WA has some payroll tax changes in regards to traineeship wages from 1 July 2019...more

Employee versus Contractor
Whether the nature of a working relationship is employee or contractor is not based on any single one factor, but rather a set of circumstances about the relationship needs to be considered. However, there are a set of common factors that contribute to whether a worker is an employee or a contractor: TestEmployeeContractorLevel of control […]...more

July 2019 eBrief
Monthly newsletter for Nationwide BAS clients prepared by Institute of Certified Bookkeepers for its Members and their Clientele and associates...more

Xero – 50% off offer until 5 July 2019
Do you want to get 50% off the new Xero subscription fee for 4 months of your Xero Business Edition plan? Contact us to use the promo before midnight (AEST) 5 July 2019....more

“Cash in Hand” Payments to Workers
Are you paying cash to your contractors or employees? We can help make sure you keep your expenses deductible....more

10 questions to ask when hiring a bookkeeper
We address 10 questions most business owners should ask when hiring a bookkeeper....more

Reckon – Free STP Reporting
Reckon has released their FREE Single Touch Payroll reporting app for your mobile device...more

Protecting Your Intellectual Property – Hints & Tips
The first in a series introducing you to the importance of intellectual property and how to protect it....more

Debtor Rights
If your client is in debt, they have the right to be protected from illegal behaviour from creditors and debt collectors....more

ATO Approach to Business – Their Strategy
The ATO are committed to making it as easy as possible for all small businesses to understand and meet their tax obligations....more

Single Touch Payroll for Employers
The Single Touch Payroll (STP) is law and applies to all employers. You must report or engage with the ATO....more

Labor, Elections & Tax Agent Fees
Our opinion – Labor is trying to cap tax agent fees which will undervalue accountants skills, education and knowledge...more

ASBAS – Workshops in May
ASBAS is hosting workshops run by Business Station in conjunction with RDA Brisbane in May. Join us to learn about small business software....more

Superannuation Guarantee and annual leave accrual on workers compensation payments
A common question when there is a need to pay workers compensation to employees is “do they accrue annual leave?” The Association of Accounting Technicians (one of our professional bodies of which we are a Fellow member) have put together this short article. Workers compensation is an insurance payment payable to an employee if they […]...more

Instant Asset Write Off
Royal Assent was given on 6 April 2019 to the amended Instant Asset Write Off legislation. What does this mean? The Instant Asset Write Off allows business to bring forward depreciation and claim the purchase cost in full in the year it has been purchased (assuming its cost is less than the maximum limit depending […]...more

Fair Work Best Practice Guide to Work & Family
The ICB has provided a resource re Fair Work Best Practice Guide to Work & Family...more

Home Office Running Expenses
Home office expenses resource provided by the ICB...more

Single Touch Payroll – An Update
Single Touch Payroll for employers with 19 or fewer staff will be in effect from 1 July 2019....more

Part 7 penalty waived amid SG amnesty hold
The Tax Office will waive the Part 7 penalties for those who voluntarily report historical underpayment of superannuation guarantee (SG), despite the proposed amnesty not yet being law – according to Accountants Daily....more

STP legislation passes
The houses of parliament have today passed legislation (The Treasury Laws Amendment (2018 Measures No. 4) Bill 2018) for businesses with 19 or fewer employees to report their payroll through the Single Touch Payroll system from 1 July 2019.The Tax Office have published a list of low-cost software providers for the micro-business sector (those with […]...more

2019 Top Tax Changes
Many tax changes have occurred relevant to the 2019 financial year and beyond. We list our take-away points....more

STP – Single Touch Payroll
The Tax Office is contacting employers with 19 or fewer employees to inform them that they don’t have to wait for legislation to pass to start reporting voluntarily through the Single Touch Payroll (STP) system....more

Documentation – why we ask for it
We often ask for documentation to verify your information. We delve into why it’s important not only to you but also us....more

BAS Preparation – Why a BAS or Tax Agent should do them
Business Activity Statements seem simple – and filling them out is – but to ensure the data adds up to the summarised figures you will need time, patience and preferably experience in translation of laws and even invoices.In order to charge a fee for the service, bookkeepers and accountants need to register with the Tax […]...more

An Introduction to Melissa
Hi, I’m Melissa North and these days I live in Brisbane with my partner, my 2 cats and every other week, my partner’s 2 children (well, they are essentially teenagers). When we’re not working and studying, my partner and I enjoy visiting the countryside of QLD and everything it has to offer. This includes hiking up […]...more

Staff & Clients – What’s their worth?
One reason business owners go out on their own is because they are good at what they do and don’t really want to work for someone else in the long run. Or perhaps there is an untapped market and they can see their niche being valuable to others. Or maybe an opportunity arose where they […]...more

Cash Flow and Debt Collection Tips
Do you often wonder if you’ll have enough money in the bank to pay the bills or wages each week / fortnight / month and can see that your debtors are quite high and have been overdue for a few weeks? What are you doing to ensure that the funds are available to meet your obligations […]...more

Fringe Benefits Tax – Do you need to lodge?
Do you need to lodge a Fringe Benefits Tax Return for the period of 1 April 2017 to 31 March 2018? The Tax Office has resources available to help educate business owners around FBT and operating a business.A pre-recorded webinar walking through the following is available here:FBT tipsinformation about what attracts our attention in FBTFBT and […]...more

SBSCH – Small Business Superannuation Clearing House
The Small Business Superannuation Clearing House has had a major overhaul this year and accessing it with a User ID and password is no longer possible.Many people are up in arms over the change as it doesn’t make sense, but unfortunately, as with all governmental changes, we adapt and adopt the changes.So how does one […]...more

BAS Agents, Bookkeepers & Accountants – The difference
“What is the difference between accountants, bookkeepers and BAS Agents?” This is a question I hear often...more

Property Development & The Margin Scheme
Properties are being developed for residential purposes. GST may be attached the costs and sales of the properties....more

Allowing for Private Expenses
Allowing for Private ExpensesThe ATO acknowledges that at times it is convenient for a business owner to purchase goods through their business that are in fact for private use, and also that there are goods that are purchased that may legitimately be used for both home and work purposes. There is no problem with you […]...more

Are you a Company Director?
What it Means to be a Director of a CompanyA company is a separate legal entity with its own rights and obligations.  Company assets, liabilities, income and expenses belong to the company entity, not to the individual directors.Directors are bound by certain rules that govern your behaviour.  You must carry out your duties as a […]...more

SuperStream Compliance
SuperStream Information for EmployersThe SuperStream standard is part of the government’s Super Reform package. It will provide a consistent, reliable electronic method of transacting linked data and payments for superannuation. The goal is to improve the efficiency of the superannuation system, to improve the timeliness of processing of rollovers and contributions, and reduce the number […]...more

Sole Traders: Paper BAS, PAYG Instalments & myGov
In 2014, the Tax Office made changes to how we receive Activity Statements and other communication, sending us in to the electronic ether and for the most part, stopped sending paper copies of Activity Statements if they were lodged electronically by BAS/Tax Agents or the business. Changes are now taking effect for Sole Traders.The following […]...more