Legislation introducing the Superannuation Guarantee Amnesty (the amnesty) has been passed in Parliament and is awaiting Royal Assent.The amnesty provides employers with a heavy incentive to disclose and rectify accordingly, any historic non-compliance with their superannuation guarantee (SG) obligations. Now is the time for employers to urgently commence review of their historic SG compliance and not miss the window in...
By Tracy Miller
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Testimonial
The assistance and knowledge I receive on accounting, human resources, training, technology and streamlining accounting systems is invaluable. Beyond all of that, it’s the people at Keeping Co that make our working relationship invaluable. Rowie Dillon, Founder & CEO
It’s the festive season, and it’s around this time that clients often ask us if Christmas Parties for staff are tax-deductible. The short answer is that Christmas Parties are generally classified as Entertainment and are therefore not available as a tax deduction. Additionally, GST cannot be claimed on non-deductible items. Christmas parties and other forms of entertainment can only be...
By Tracy Miller
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News | NFP Accounting
Keeping Company were proud sponsors of the R U OK? Golf Day and Gavin Larkin Memorial Trophy 2019 held at Moore Park yesterday. R U OK? is an Australian non-profit suicide prevention organisation, founded by Larkin in 2009. It revolves around the slogan and empowers people to meaningfully connect with those around them and start a conversation with anyone who...
Tip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost double the number of the previous year. The ATO thinks the number of tip-offs will reach around 70,000 for the full financial year. Common problem areas that people feel obliged to report include suspected tax...
WHAT ARE YOU REALLY ENTITLED TO? The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know where their money is and how they can access the...
As we approach 30 June, we thought it was timely to give our clients a refresher on some common EOFY tax planning tips, and also point out the key changes for the 2019 tax year that may impact you and/or your business. If you have any questions at all regarding any of the below as you prepare for 30 June,...
Is my business making money? Will I have enough cash to pay expenses when they are due? Will I be able to grow my business and increase my salary this year? Like most small businesses, if you find yourself pondering the above questions, then the preparation of an annual business budget is essential. We believe that all businesses should...
To assist you in ensuring your business understands and meets it’s payroll tax obligations, this blog highlights some of the common errors and misunderstandings that are to be avoided. Contractors Contractors vs employees You must consider the full relationship when deciding if your contractor is really an employee. This includes the following factors: The degree of control that the business...