Ah, the joys of taxation! Not only are you probably preparing yourself for the upcoming EOFY, and the tax implications of this busy time of year, but in March, you’re being questioned on fringe benefits tax (ANOTHER tax, we know, we know…). Are you reimbursing the mortgage payments of certain staff members, perhaps, as part
Simpler Financial Reports The Australian Accounting Standards Board (AASB) have introduced standards that will reduce the disclosure requirements for certain entities preparing “general purpose financial statements” (financial statements that comply with all Australian Accounting Standards). As the name would suggest, this will enable preparers of “general purpose financial statements” to prepare financial statements that
Certain Companies limited by guarantee and Incorporated Associations in Victoria can choose whether to have their financial report audited or reviewed. Eligibility for a review is based on turnover of the entity as follows: Turnover Legislative Audit/Review Requirements < $250,000 (and is not a deductible gift recipient) No audit or review required <
In Australia, there are 3 types of financial reports which can be prepared. Although some types of entities have legislative requirements which state which type of financial report they must prepare, for the most part the type of financial report prepared for each entity is determined by the requirements of the potential users
To make good decisions about the future of your business, you need clear visibility into how much money you've got. So - how's your bookkeeping system?
Your business may already have a bookkeeping solution in place that works - but moving to the cloud might help you make real improvements.
Your business might be humming along today without any major problems, but are there risks lurking on the horizon? Think of the possibilities.
The larger your business gets, the more challenging it becomes to handle payroll matters efficiently. Do you still have a system that works?