As personal technology devices such as laptops, smartphones and tablets, are becoming increasingly prevalent, the ATO will be focusing its attention on individuals claiming personal technology as work-related tax deductions. Currently, Australians claim almost $19.5 billion each year in work-related expenses, and an increasing number of tech items are being... read more →
Sep
11
It is common for businesses to make GST errors in their BAS. The majority of these mistakes are unintentional. The ATO recently reviewed all of the BAS adjustments made as a result of auditing and revealed that over 80% were the result of inadvertent GST errors. Examples of common mistakes... read more →
Sep
04
If your business has a bad debt, that is a debt that you have taken all reasonable steps to recover, but appears unlikely to be paid, then it is possible to write it off as a tax deduction. While this does pose a small consolation, it is obviously preferable not... read more →
Aug
25
Employers pay FBT on certain benefits they provide to their employees or their employees’ associates. Offering employees competitive salary packages can be key to the success of a business. It will ensure that you have the capacity to attract the right talent, increases employee productivity and may help to minimise... read more →
Aug
20
As part of an attempt to boost the participation of older Australians in the workforce, the federal government is offering wage subsidies for older employees of up to $10 000 to hire employees over the age of fifty. The wage subsidy scheme, called Restart, will require employers to demonstrate that... read more →
Aug
15
Electronic payslips are becoming an increasingly attractive option for employers as they allow for ease of delivery and can significantly reduce administrative costs. Employers are required to provide employees with a payslip within one day of the end of the previous pay cycle. If you fail to meet your payslip... read more →
Aug
07
Energy costs can be an enormous drain on your resources, and it is more than likely that the cost of electricity will continue to rise. This article will give you some tips about reducing your electrity costs. Reducing your energy consumption will save you money on your electricity bill. It... read more →
Jul
30
When carried out effectively, formalised staff performance reviews can be beneficial for both you and your employees. It is an opportunity for you to demonstrate how much you appreciate your employees’ contributions and undertake collaborative reflection on potential business improvements. However, there are a lot of potential pitfalls that can... read more →
Jul
25
From 1 August 2014 changes to credit card payments will come into affect and Australians will no longer be able to use their signature to verify credit card purchases. Chip reading and PIN will become the only ways to use a card at point of sale, but there will be... read more →