Latest Blogs
Role of Accounting in Business and Why It’s Important?
It is a requirement of every business to have a good accounting team at its core or at least on specialist who could understand the specific needs of a business. Accurate and timely financial data is required by the managers to make wise decisions and accountants do...
Things To Know Before Filing Your Income Tax Return (ITR)
Tax time is certainly upon us with many changes introduced in financial year 2019-2020 due to effects of COVID-19. Tax return accountant works harder during taxation times to claim more deductions. Are you working from home due to COVID-19 situation? Whether you have...
Things To Consider While Choosing A Tax Accountant
You could be tempted to figure out all things yourself, since online tax preparation software is quite cheap and give convenience of completing everything from home. But still some mistakes on tax are common. These mistakes can even put you at high risk of IRS audit....
Tax Round Update – September 2020
The Jobkeeper has Dominated the Headlines; However, only July 1st, 2020 Test Date for Employee has been Finalized. The legislation is yet before the Senate to extend the JobKeeper beyond September 27th. The details of JobKeeper 2.0 require legislative instrument to...
JobKeeper Payments: GST Turnover and Reporting
GST Reporting Method In order to apply for new turnover reduction tests for September 2020 and December 2020 quarter, the entities that are registered for GST must use same method which is used for GST reporting purposes. The GST reporting method that is used...
Questions to Ask Small Business Accountants Before Hiring
Most of the small businesses find it a daunting task to find an accountant in Melbourne. To select an accountant could be a vexing process when you are a startup in a business. It is quite simple if you ask the right questions and approach it systematically. You must...
Tips for Choosing an Accountant for Small Business
People owing small businesses rely on accountants to seek advices. While having accountants in your team, all the crucial tasks such as maintaining books, planning taxes and meeting important financial deadlines becomes easier. However, you need a good research to get...
Tax Round Up August 2020 – Minimum Repayment Relief – JobKeeper 2.0
The JobKeeper dates have been extended for 13 fortnights along with reduction in payment rates and additional eligibility criteria. This time as well the popularity of accountants and advisors has enhanced. Till now the details of eligibility and access to JobKeeper...
Why Small Businesses Need Tax Accountant
The small business entrepreneurs have realized that their lives get more complicated during the times of tax season. The days become more stressful when you try to lodge the taxes for your business and personal life. In spite of some worse circumstances, many...
Customer Strategies Retention – Need Of The Hour
It is very easy to lose customers; however, bringing new ones is really harder. This is the reason why customer retention is too crucial. Most of the small businesses are suffering these days just because of the unprecedented effects of COVID-19 on the economy. It is...
Minimum Wage in Australia 2020 – 2021 – Award Wages
It is a projection that Australian Minimum Weekly Wages will trend around 770.00 AUD/week in 2021 and 790.00 AUD/week in 2022. Minimum Wage Increases by 1.75% in Australia The minimum wages in Australia are currently $740.80 each week currently. This is equal to the...
Arts Grant : Eligibility of Arts Grant and how can you get it
Arts grant availability and the way to get Benefits from it The $250 million package provided by Prime Minister for creative and cultural projects, the savior for the industry! The financing of arts is for initiating the sector at instant preferences with funding...
Home Builder Grant Eligibility for Building & Renovation
Home Builder Grant: How you can Access the New Government Building Scheme The administration has declared grants of $25,000 to motivate people to construct a new house or considerably renovate their homes in which they are already residing. This scheme...
The Economic Impact of COVID-19 – Tax Relief Roundup
The parliament approved legislation for COVID-19 stimulus and support measures. Most of the stimulus initiatives are being administered by ATO. The compliance deadline remains regardless of the fact that either the payments have delayed or waived. The transitional...
Jobkeeper Payment: what you need to do and check your eligibility
The authorities have declared $130 billion JobKeeper Payment to assist to keep the Australians to stay in their jobs and support the businesses that got affected by crucial economic influence caused due to COVID-19. Almost six million of the employees will get a...
Payroll Tax Relief for Businesses in Australia
Including Australia's acts, four Australian governments provided their own stimulus packages formally issued. A description of the main payroll tax concessions in answer to COVID-19 from all States and territories is given below. Payroll Tax Concessions - COVID-19...
COVID-19 JobKeeper Wage Subsidies: Accountant Overview
An Overview by Accountant of the Latest Prompt Measures Coronavirus is not only a health emergency in the world, but also an economic too. In order to control the spread of this pandemic, different authorities are taking different measures. Authorities have imposed...
Business Continuation Aspects During Downturn Of Corona Virus
The Accounting during the difficult times are there to provide assistance and positivity in businesses. Being an entrepreneur, the key element to focus now a days in the times of downturn is to resist with the tough times that sets business up to be a rapid turning...
Deadline Changes Of Coronavirus (Covid-19) Tax Payments
Income tax returns impacted by the coronavirus in Australia(COVID-19) The outbreak of COVID-19 is affecting the employees and the businesses and the economies and also the domestic and global economies. According to the tax professionals, coronavirus disruptions are...
Impacts of Coronavirus (COVID-19) on Business and Tax
Coronavirus is arising along with many difficult challenges for businesses in Australia. The dramatic pace at which coronavirus (COVID-19) is spreading, has disturbed communities and businesses all around the world. Many organizations all over the world are coming...
Role of Cloud Accounting Software in your Business
The platform of cloud accounting makes software and data accessibility online from any device and at any location. The problems involved in the traditional accounting software could be overlooked, until and unless you begin with the usage of cloud accounting software...
What is new in Online Accounting Software in Australia?
The companies who are trading in accounting software are advancing their products at excessive speed for small businesses and accountants. Here are some advantages and disadvantages of Xero, MYOB, Sage, etc. The global brands like Intuit, Sage, and Xero represent more...
Is QuickBooks Online Suitable for your business?
Are you unsure to switch to QuickBooks Online? Many business owners are in a dilemma that whether QuickBooks online is suitable for their business or not. Let us analyze that if these QuickBooks Online is a good option for your business or not, this is a better option...
Why is Accounting Important for Businesses?
You would not be able to learn about your business’ financial health unless you know that you have to do with IRS penalties and audits. By glancing at the health of your business, you can protect it and make better decisions. Let us see numerous ways to see why...
Best Accounting Software for Small Business in Australia
By not having a good bookkeeping system, an alert that the business is running out of cash could exist, which could be the reason for the failure of the business. An entrepreneur can opt for a manual bookkeeping system, electronic or accounting software. Accounting...
How to Become Tax Accountant in Australia
Tax accountants are the financial experts who perceive the rules and regulations mandated by the authorities which examine the money owed to state or local agencies and are also known for scrutinizing, reporting and giving guidance on issues related to taxation to...
Role Of Tax Accountants
Every Detail Of Role Of Tax Accountant You Should Know Tax accountants are skilled people with the proper knowledge of tax legislation and regulation so that they can assist the clients at the time of making tax payments. Their efficiency does not just keep you...
Understanding the Updated Australian Tax Brackets and Rates in Details
Federal Budget 2019, the coalition government has introduced amendment income tax cuts, that are creating on the personal income tax plan as per the 2018 Federal Budget. The Australian Tax Office (ATO) collects the income tax, which is applicable to working...
Reasons Why Each Business Needs Accounting Services
Accounting is a vital part of every successful business. For accounts handling, there is a requirement of having professional accountants. Accountants are expert professionals who dealt with auditing, bookkeeping, tax preparation services and do other major roles....
Best Accounting Services For Small Business
Planning to start a new business would usually leave the businessman with restricted budgets. Proper management is a skill at the time required, so that smart investments to be made to save money. This task requires skills, so, get that done by the accountant would...