ATO

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Is Gifting Wine a Tax Deduction?

By | 2018-11-28T07:02:31+00:00 November 28th, 2018|Categories: ATO, Ideas, Tax|

It’s common to gift wine at Christmas time, but did you know the ATO treats gifts to employees different to gifts to suppliers or customers? Firstly, any gift needs to be evaluated as entertainment or non-entertainment because this affects the decision on tax claims. Entertainment gifts attract Fringe Benefits Tax (FBT) penalties. Stay tuned for our [...]

Superannuation – Last Chance to Pay Your Restaurant Employee’s SGC

By | 2018-06-05T06:56:04+00:00 June 5th, 2018|Categories: ATO, Employees, Superannuation, Uncategorized|Tags: , , , |

Don't get left on the grill because it's about to get hotter for employers. WHAT IS EMPLOYEE SUPERANNUATION? When certain conditions are met, a restaurant employee is entitled to earn superannuation in addition to the base wage. This amount is usually 9.5% unless otherwise stipulated in awards.  The employer notes the Superannuation Guarantee Contribution (SGC) tally [...]

Single Touch Payroll Is Coming To A Restaurant Near You

By | 2018-06-05T06:58:36+00:00 May 14th, 2018|Categories: ATO, Employees, Payroll, Superannuation, Tax, Uncategorized|

SINGLE TOUCH PAYROLL IS COMING TO A RESTAURANT NEAR YOU Look out for Single Touch Payroll. Over time, hospitality employees have been paid in many forms: in kind, cash, booze, meals, cheque or direct transfer to a bank account.  Managing a hospitality payroll can get messy and difficult to reconcile correctly. You find yourself paying the [...]

Ban Christmas Parties

By | 2017-12-05T05:23:29+00:00 December 4th, 2017|Categories: ATO, Ideas, Tax|

We believe that staff Christmas parties should be banned. Sounds harsh, doesn’t it? We learned a long time ago that a Christmas party of silly hats, cheap gifts and a dinner with too much beer does not grow people and strengthen teams. But experiences enjoyed together does. Replace your Christmas parties with team building training events [...]

Buying Or Selling Your Restaurant Real Estate

By | 2017-07-26T04:07:21+00:00 July 21st, 2017|Categories: ATO, Leasing & Property|

Most food business operators will lease the premises required to run their business. Those that have managed to buy real estate and be their own landlord have a valuable asset to give themselves security into the future. However, there will come a time when you will need to sell the real estate to move onto [...]

Simpler BAS for Restaurant Bookkeeping

By | 2017-07-26T03:50:22+00:00 July 4th, 2017|Categories: ATO, BAS, GST, Ideas|Tags: , , |

Running a restaurant is as easy as juggling a dozen fry pans greased with butter - on the handle! Probably not our best joke, but neither is spending time preparing BAS reports for the ATO. Fortunately, the Australian Taxation Office (ATO) understands that small business owners need simpler compliance processes. From 1 July 2017, restaurant and [...]

What Are BAS and GST?

By | 2017-07-31T01:31:25+00:00 July 4th, 2017|Categories: ATO, BAS, GST, Ideas, Payroll|Tags: , , , |

Opening a new restaurant or cafe? Then you need to understand your business tax and reporting obligations. BAS Definition for Restaurant Bookkeeping BAS stands for Business Activity Statement. Business owners such as restaurateurs must submit this form to the ATO (Australian Taxation Office) to report their GST (Goods & Services Tax) and PAYG (Pay As [...]