Business Advice Archives - Business Edge Accountants

When you want to simplify payroll, the simple choice is Xero

February 12, 2019February 13, 2019 by admin

If it’s time to (start using/switch to more powerful) online payroll software, I recommend Xero payroll for many reasons. We have listed a few of the reasons below on why Xero Payroll makes for one of the best choices for running payroll in your business. Simplicity – With just a few clicks you can choose how often employees are paid, select multiple pay rates, reimburse expenses, manage employee leave and pay employees. Tax and leave calculations are automatically …

What is SEO and how you should empower your business with it

February 12, 2019 by admin

SEO or Search Engine Optimisation is the term used to describe a number techniques you can use to increase the visibility of your company online. SEO may involve some time invested, but it is worthwhile to increase traffic and enquiries through your website Why is SEO so important? The internet is now the first port of call for most people when they are looking for a local business so having prominence in search results is vital. Plus, …

Avoid the scammers

February 12, 2019February 12, 2019 by admin

You’ve been scammed, hacked or breached! Another year, another scam. While data-driven crime is more sophisticated and difficult to address than ever, human error and judgement remain one of the major problems. The latest data breach report from the Office of the Australian Information Commissioner (OAIC) is surprising for the simplicity of the problems – 37% of data breaches resulted from human error, not a malicious attack. In over 20% of reported cases, personal information was simply …

the SMSF Myth or Mission

February 3, 2019February 5, 2019 by admin

Is a Self Managed Super Fund (SMSF) right for you? Or Maybe you already have a SMSF but want to make it work harder for you? More than a Million Australians run their own SMSF. But the small business clients talk and the news media is in a frenzy about SMSF’s and property investments. We understand that SMSF’s don’t suit everyone, so it’s important you get the right information to decide for yourself and discuss with an …

Single Touch Payroll: what you need to know

February 10, 2019February 3, 2019 by admin

Single Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – comes into effect from 1 July 2018. For employers Employers with 20 or more employees at 1 April 2018 must use standard business reporting-enabled software from 1 July 2018. The head count for ‘20 employees’ includes full-time, part-time, casuals (who worked any time during March), employees based overseas, or on paid or unpaid leave. Directors …

Review and rectify any outstanding compliance issues

January 23, 2019January 25, 2019 by admin

Most of all Talk to us is you need help or worried about it and how to rectify it? If your auditor has highlighted any breaches or issues in previous year fund audits, you should review and rectify these issues by 30 June. SMSF compliance is taken very seriously by the Australian Taxation Office (ATO) and they have a number of powers to address non-compliance: Education directions – require the trustee/director to complete an ATO approved education course …

What is a downsizer super contribution?

January 14, 2019January 16, 2019 by admin

The downsizer super contribution rules introduced by the Government were one of a number of measures introduced to help reduce pressure on housing affordability. But it can also help people top up their ability to live more comfortably and affordably. From 1 July 2018, individuals over 65 years of age may be eligible to contribute to super up to $300,000 from the proceeds of selling their home. Keep in mind that this only applies to contracts of …

The ATO needs to know MORE about your SMSF

January 14, 2019January 14, 2019 by admin

The ATO is constantly changing various aspects about what you need to disclose and 2018 is no different. When you lodge this year you need to report more data than ever and ensure your SMSF is in top shape going forward. From the 1st July 2017 superannuation reforms introduced a new reporting regime for funds. Funds now need to advise the ATO of key events within the fund that impact on retirement income streams (pensions): When you start a pension …

All you need to know about single touch payroll

January 17, 2019January 6, 2019 by admin

Single touch payroll (STP) is a new regulation that changes when and how small businesses report payroll activity to the Australian Tax Office (ATO). Businesses used to report this information to the ATO once a year. Now, they need to send a report after each payday. And those reports must be submitted digitally, using a very specific format. Changes to when you report payroll Small businesses used to finalise their payroll records at the end of the …

Going away… Out of Office replies count

December 18, 2018December 18, 2018 by admin

I’m not a huge fan of auto-replies, but they can be a necessary evil and a godsend at times when used well. It’s probably the last thing you do before you head out of the office to enjoy your holiday, but here’s why you should take some time to create your out-of-office message. But to ensure that you can relax more and work less over the holiday break without upsetting too many, be sure to take a …

When you want to simplify payroll, the simple choice is Xero

What is SEO and how you should empower your business with it

Avoid the scammers

the SMSF Myth or Mission

Single Touch Payroll: what you need to know

Review and rectify any outstanding compliance issues

What is a downsizer super contribution?

The ATO needs to know MORE about your SMSF

All you need to know about single touch payroll

Going away… Out of Office replies count

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Business Edge Accountants (ABN 89508243958) is a Corporate Authorised Representative No. 127 1751 of SMSF Advisers Network Pty Ltd.

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