Category: Small Business Info Sheets

On April 8, 2020

Auskey is ceasing on 27th March 2020

  Any business that uses the Governments Small Business Superannuation Clearing House directly will NOT be able to use Auskey after 27 March 2020. The March quarter super payments are due before 28th April! Auskey is ceasing on 27th March 2020. Business will have to: Have the authorised person of the business establish their myGovID
On August 24, 2018

Xero Tip: Setting up 2 Step Authentication (2FA)

From 11 Sep 2018, Xero is making it compulsory for users who have access to sensitive data (eg. payroll, the subscriber, and anyone who can change bank details in the software) to have increased security when logging in to the software. This is to reduce the risk of internet hackers using their login to change
On August 24, 2018

Business Information Sheet – Cyber Security of Your Software

Backup of Computers and all Data Backups are essential. Offsite, remote or cloud backup is the best option; you can “set and forget”, and it then happens automatically in the background. Alternatively use an external drive and schedule regular backups, e.g. at the end of each work day. Electronic Document Storage Electronic storage of business
On November 17, 2017

Am I in business?

When does a hobby become a business? We often get asked: at what point does a growing hobby need to be registered as a business? Here are some handy pointers: Business Victoria: So you want to start a business? ATO: Are you in business?
On November 17, 2017

How do I start a business? Info for startups

We’re always being asked: how do I get my great idea off the ground and start earning a living from it? Well, we’ve been there and done that, and work with plenty of business owners who started with a side project before turning it into a profitable startup! Here’s a compilation of some sites to
On June 9, 2017

Business Information Sheet – Simpler BAS Bookkeeping Guide

What is GST? Goods and services tax (GST) is a broad-based tax of 10% on the value, (i.e. 1/11th of the price), of most goods, services and other items sold or consumed in Australia. There are some transactions that are GST-Free or GST-exempt. Businesses that are registered for GST will: include GST in the price
On June 9, 2017

Business Information Sheet – Simpler BAS from 1 July 2017

The New World of GST Codes – Simpler BAS The ATO has simplified the GST reporting system to make it simpler for a business to conduct its trading with less complexity in applying the GST law. GST or Not Included To trade in Australia a business must: Obtain an ABN. Decide whether to register for
On May 5, 2017

Business Information Sheet – Contactor or Employee

This document is intended to raise an area of possible concern for discussion and to provide information about workers who may be engaged as contractors but should be engaged as employees. To remain compliant with the laws of Payroll Tax, Workers Compensation and Superannuation Guarantee, an independent contractor must pass a number of tests to
On May 5, 2017

Business Information Sheet – Superannuation Guarantee

Superannuation Employer Obligations Offer your employees a ‘choice of fund’ Identify new employee is eligible Provide a standard choice form Nominate a default fund (must be a MySuper product) Act on employee’s choice of fund Pay superannuation guarantee before due date As of 1 July 2014, the superannuation guarantee rate is 9.5% You must keep
On May 5, 2017

Business Information Sheet – SuperStream

SuperStream Overview SuperStream is a compulsory system of submitting Superannuation Payment information (standardised data) electronically. The information links the payment made by the employer to the employees account in the relevant superfund/s. It is the intention that SuperStream will make the whole superannuation system and employer meeting their obligations efficient, faster, more reliable and with
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Ringwood Bookkeeping

Providing BAS, bank reconciliation, payroll and super and general bookkeeping services to small business clients in the Ringwood and Melbourne area for over 5 years.

        

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