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EOFY in Focus: Reviewing your Business Insurance Plan

July 21, 2016 | Easdowns

It’s almost the end of another financial year and your current business insurance plan will expire soon. A lot has happened in the past 12 months and it may have led to significant changes in many aspects of your business, potentially cancelling some of your cover.

So now is the time to ask: Is your current business insurance plan enough?

EOFY Tax Mistakes to Veer Away From

July 7, 2016 | Easdowns

It's almost the end of another financial year, which also means tax compliance. This time of the year can be a challenging time for businesses, and it’s not uncommon for a lot of them to make mistakes when taking care of their end of financial year (EOFY) tax obligations.

 

The great thing is that these can be easily avoided. All you need to do is familiarise yourself with the most common compliance mistakes and know what you need to do.

How to prepare your business for EOFY

June 23, 2016 | Easdowns

The beginning of a new financial year is a great opportunity for your business to start over with a clean slate. But before you move on to the next one, you must first make sure that your business is prepared for the end of the current financial year. This will ensure that all requirements for that year are easily taken care of, and additional paperwork and penalties are avoided.

Ensure You Have Met All Of Your EOFY Obligations

June 9, 2016 | Easdowns

Another financial year is coming to an end, which also means it’s time to evaluate your finances. While this time of the year can be scary for small businesses, it doesn’t have to be.

Superannuation Guarantee Charge: The Cost of Late Employee Super Payments

June 2, 2016 | Easdowns

 

In our previous blog, we discussed Superannuation Guarantee - what it is and how it relates to small business employers. But what happens if business owners fail to comply with quarterly mandatory payments for their employee’s super? Superannuation Guarantee Charge.

SuperStream 101: Important Facts for Employers

May 26, 2016 | Easdowns

Australia’s superannuation system is invaluable, especially as Australians prepare for their retirement. Acknowledging its impact on the lives of Australians, the Australian Taxation Office (ATO) created a process that streamlines the management and payment of super in the form of SuperStream.

Superannuation Guarantee Basics: Paying Employee Super

May 19, 2016 | Easdowns

What is Superannuation Guarantee (SG) and how does it relate to Australian employers?

 

Superannuation Guarantee is the superannuation contribution employers are required to pay on behalf of their employees. Regardless of the size or the nature of the business, employers are obliged to pay employee super on or before the deadlines set by the Australian Taxation Office (ATO).

What you Need to Know about Pay as you Go (PAYG) Income Tax Instalments

March 23, 2016 | su.easdowns

So, what exactly are PAYG income tax instalments and how do they affect tax compliance?

The Basics of Preparing your Business Activity Statements

March 16, 2016 | su.easdowns

One key element of running your own business is staying on top of ATO reporting obligations.

The Business Activity Statement (BAS) is a tax reporting requirement of the Australian Taxation Office (ATO) for all Australian businesses.It is used for reporting and paying Goods and Services Tax, PAYG Instalments, PAYG Withholding and other tax obligations.

3 Ways Businesses Can Avoid Mixing Personal and Business Expenses

March 9, 2016 | su.easdowns

Accounting for expenses is an important aspect of any business. This is especially the case for small businesses, as budgeting effectively is critical for their success. Business expenses will ultimately affect the amount of tax you pay and therefore accurate records of your expenses are essential.

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