Posts by James Webb
BAS 101: A Business Guide to BAS and GST
Lodgement or filing in the BAS or Business Activity Statement is a legal obligation for all businesses operating in the country. It is the country’s tax reporting and collecting tool and the Australian Taxation Office (ATO) have set specific rules and regulations on BAS and GST lodging. Non-compliance, inaccuracy and late lodgement can lead to penalties, fines and other sanctions
Read MoreStruggling to Manage Payroll? Here’s How to Free Up Your Time
Are you spending countless hours calculating wages, deducting taxes, and keeping up with ever-changing payroll laws? For many businesses in Brisbane, managing payroll is a time-consuming and stressful task—one that takes your attention away from growing your company. Thankfully, bookkeepers like LINK Books can take the payroll burden off your hands, ensuring your employees are paid…
Read MoreUpcoming Employment Law Changes: What to Expect This Year
Starting August 26, 2024, several important employment law updates will take effect, impacting the right to disconnect, casual employment, and independent contractors. These changes include new provisions for employees to disconnect from work outside of hours, updated definitions and conversion processes for casual workers, and stricter rules against sham contracting. In this article, we’ll outline…
Read MoreWhy Xero is the best accounting software for businesses in Australia
If you are looking for cloud-based accounting software you have probably been blown away by choice. There are so many different platforms available! Many of them seem to have long feature lists that only an accountant would understand. It can be difficult to work out which one is the best option. But fear not, your…
Read MoreXERO vs. MYOB vs. QUICKBOOKS
With the constant changes in the technological landscape that we are experiencing today, it is important as ever to stay updated on recent technological advancements, in this instance being cloud accounting software. Providing instant accessibility to accounting software at any given time and place, this innovative way of performing accounting has significantly sped up the…
Read More6 common bookkeeping myths busted
Bookkeeping is an extremely important aspect of any business. Despite this, there are so many myths surrounding what a bookkeeper does, and the real value they bring to businesses. As well as this, they often get confused with accountants, who do a very different job. Because of these myths, many business owners miss out on…
Read More8 Leadership Weaknesses, and How to Overcome Them
Leadership is a skill. Some have it naturally, others have to learn the art. Some are good at it, some great, others are struggling. Leadership as a skill is extremely hard to perfect, only a few managed the feat, and not without stumbling and failing first. Below are some of the most common leadership weaknesses…
Read MoreEverything you need to know about the taxable payments annual report (TPAR)
When running a business there are a wide range of reporting obligations you should be aware of. As the ATO has increased access to data with the advent of single touch payroll (STP) and further initiatives, it is more important than ever to make sure you remain compliant. Taxable payments to contractors are one of…
Read More6 tips to managing ATO payment plans for your overdue BAS
Sometimes, after a few difficult months, you may find yourself in a bit of trouble with overdue BAS lodgements. But, don’t worry it is not the end of the world, an ATO payment plan can help you out. It is nothing to be ashamed of, the ATO wants your business to be successful and understand…
Read MoreWhat Happens When My Business Crosses The $75,000 GST Threshold?
Last Updated on Feb 6, 2024 by James Webb GST is a major tax in Australia that most businesses will need to deal with. As a new business owner, it can be difficult to understand all the different tax obligations you have. However, to help small business owners understand GST, we have created this guide…
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