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Archives for Tax

Imminent Changes to Personal Leave Entitlements for Employees

A recent Federal Court decision is likely to have significant impacts on employee entitlements with respect to personal leave for employees. Employees,  full-time and part-time,  are entitled to 10 days of personal leave per year of service.  The definition of “10 days” has now been reviewed in the recent court case.

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ATO Scammers

The ATO have recently reported that they have experienced a 43% increase of cases where tax has been paid to ATO scammers.

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Jim Wheeler

What is a company for?

Background

Readers will know that society is changing rapidly. And it should be said, this is mostly for the better.
But as new attitudes take hold, accepted norms are challenged. One such example is the current debate about the role of the company.

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Baby Budgets

Starting a family is an exciting time for any couple. There is also a level of uncertainty about how you will adapt to the change and afford the additional costs that go with having little footsteps in your home. Research from the National Centre for Social and Economic Modelling (NATSEM) suggest that it takes over $406,000 to raise a single child from birth to the end of their education. That is a lot but, you can prepare yourself. We’ve prepared a number of tips that we think might be helpful to your growing family.

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Privacy in the News

In today’s climate, we are being bombarded with messages about surveillance on a global scale with social media loopholes; Facebook, Instagram, LinkedIn, even photo editing apps.

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What Is a TPAR?

It is that time again, Taxable Payments Annual Reports (TPARs) are due for lodgement with the ATO on 28th August.

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Cash Is King

Cash is the lifeblood of business. Even profitable businesses can fail when cash flow monitoring does not occur. Cash is needed for investing in growing and for working capital. Without enough money to pay lenders or suppliers, banks may foreclose, and suppliers could cut supplies and businesses quickly die.   

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Profitability Drivers in Actionstep: Phone Call Logs

As automation sweeps through the services sector, profitability is ever reliant on stream lining internal processes. Firms are under increasing pressure to drive their billable hours down to remain competitive and relevant. A key to this process is utilising the automation and single touch features of your practice management system. By reducing the time spent double handling a task, or incorrectly allocating client specific work, a firm can see profitability rise without the need to increase their client base.

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Tax Cuts: What Will They Mean For You?

Millions of Australians will be receiving between $255 and $1080 in tax cuts for the 2018-2019 Financial Year as part of the Coalition’s income tax plan that passed parliament last week. This is phase one of tax reduction plans that will be implemented over coming years.

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