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...
The 2019/2020 Federal Budget sees the Government predicting a return to a surplus of $7.1 billion. Driven by the politics of a looming election, the Government is lowering taxes and increasing spending with a focus on low/middle income earners, small business, senior Australians and transport infrastructure. Here is a summary the key measures announced: Surplus Budget – a Budget...
At some point, every organisation provides meals or refreshments to its employees, clients and other persons alike but there is often doubt about how to account accurately for these expenses. In this blog, we will discuss what constitutes entertainment and its correct tax treatment. Generally speaking, there is no tax deduction available for entertainment expenses except for “meal entertainment” expenses...
Preparing in advance for the end of the financial year could give your small business a significant boost in 2018/19. Rather than viewing it as a season to get caught up, think of June and July as an opportunity to get in front – and put in place business strategies with long-term benefits. With 30 June fast approaching, now is...
‘We will take strong action’: cryptocurrency comes under review Ahead of its surveillance and compliance activity for tax time 2018 the tax office is “strongly encouraging” taxpayers to review cryptocurrency guidance. The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on the...
End of financial year is an opportunistic time to assess all the facets of your enterprise and look at opportunities and get a jump on the year ahead. The Australian Tax Office’s introduction of Single Touch Payroll reporting is perhaps the most significant change for small-to-medium business owners in the 2018/19 fiscal year. This reporting change is mandatory from 1...
Keeping Company is pleased to announce the opening of their fourth office location on the outskirts of Brisbane. Margate, QLD: The industry leader in accounting solutions, Keeping Company has made their first strategic acquisition taking over local accounting business “Total Business Help” in Margate, Queensland. Over the past three years Keeping Company has expanded rapidly in the accounting and business...
Keeping Company has been shortlisted as a finalist to win 2 awards in the Marketing and Bookkeeping categories at the 2018 Australian Accounting Awards, hosted by Accountants Daily. Now on its fifth year, the Australian Accounting Awards, in partnership with Thomson Reuters, recognises the exceptional contribution of individuals and accounting firms across 31 categories. Winners from the individual categories will...
New office locations We are super excited to announce that we have opened a 2nd office location at 100 Harris Street, Pyrmont. The opening of this office will make it much easier to service our City based clients allowing them the convenience of visiting us at Pyrmont or Martin Place. With office locations all over the globe, WeWork is designed...