Is your SMSF meeting its PAYG obligations

Is your SMSF meeting its PAYG obligations?

The ATO has called on self-managed funds to check whether they are meeting new pay-as-you-go (PAYG) withholding obligations for capped defined benefit income streams paid to their members. SMSFs have PAYG obligations to withhold tax from income streams that have been paid to their members in circumstances where: The member is 60 years or older.…

Increase to fuel tax credit rates

Increase to fuel tax credit rates

The ATO has increased fuel tax credit rates from 4 February 2019. As fuel tax credit rates are updated regularly, it is important to check the rates each time you lodge a business activity statement (BAS). Fuel tax credits provide businesses with a credit for the price of fuel used in machinery, plants, equipment, heavy…

Ensuring your invoices are paid on time

Ensuring your invoices are paid on time

Having a healthy supply of cash is vital for the survival of small businesses, as it is required to operate and enables you to pay workers, rent and other expenses. Unpaid invoices can lead to poor cash flow, a significant reason small businesses fail. Late invoice payments can add to the strain of being restricted…

Protect your business with a social media policy

Protect your business with a social media policy

As the rise of social media has blurred the boundaries between what is and isn’t appropriate for the workplace, implementing a clear social media policy can help protect your business. A good social media policy should outline areas such as expectations for appropriate employee conduct, define who is responsible for specific social media tasks and…

Accounting during every stage of business

Accounting during every stage of business

Professional help with accounting and financial decisions is useful at every stage of business. Accountants can assist with a variety of tasks during different periods of operation within your business to improve strategies for long term stability. Having a dedicated accountant gives you more freedom to concentrate on running other aspects of the company. Starting…