It is important to have an efficient bookkeeping system with security measures for a restaurant to be successful. Here is a guide to setting up a streamlined bookkeeping system for your restaurant.…
It can be pretty daunting to run a payroll for a busy café or restaurant because of all the compliance surrounding PAYG tax, superannuation and Fair Work awards. Most cafes and restaurants have casual and full-time employees and therein lies the challenge of food industry payroll awards. Some employees are entitled to tiered overtime rates, meal allowances and various conditions; some are not.…
There has been an increase in reports of scammers pretending to be from the ATO and threatening people with arrest if the outstanding tax debt is not paid immediately.…
It is important for business owners to know what to report to the ATO so they can avoid making costly mistakes. Here are some fringe tax benefit related items that often attract the ATO’s attention.…
Our goal is to empower you to become a better, more finance-focused and well-rounded entrepreneur. Contact us at [email protected] or 1300 328 855…
In our recent wrap up of the Federal Budget, we flagged the Government’s intention to make changes to the small business instant asset write-off. On 6 April, Treasury Laws Amendment (Increasing the Instant Asset Write-off) Bill 2019 received Royal Assent.…
Casual staff who have worked regular hours for at least one year may now request a permanent position. The ruling by the Fair Work Commission was implemented in October and is expected to provide casual staff with opportunities for permanent employment.…
The following is a brief rundown on the key tax related announcements included in the 2019-20 Federal Budget handed down last night (2 April) by the Treasurer, Josh Frydenberg.…
Since July 2018, companies with 20 or more employees have been required to use single touch payroll reporting through accounting systems. Now small businesses with 19 employees or less will also be required to implement STP starting 1 July 2019.…
Many businesses have started their digital transformation and have focused on business intelligence over the past year. The enterprise market has started to understand the potential benefits of artificial intelligence (AI) in their businesses and it could even become a necessity to remain competitive.…
There are two types of dividends: franked and unfranked. A franked dividend has a tax credit attached to it while an unfranked dividend does not.…
In this Sky Update, we bring you all the latest tax news along with some other items that may pique your interest.…