ATO

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10 Steps to Balancing Xero for Compliance

By | 2020-03-31T07:16:45+00:00 March 31st, 2020|Categories: ATO, Xero|Tags: , , , , |

Reconciled and accurate Xero files may be the difference to getting a government cash incentive or not. Or securing that needed bank loan for new equipment or overdraft extension. It also means the business reports you read are a true reflection of how the business is performing and you can make the necessary business decisions into [...]

Financial Relief during coronavirus (COVID-19)

By | 2020-04-18T06:46:31+00:00 March 17th, 2020|Categories: ATO, BAS, Business Management, Payroll|

Regular updates: Financial Relief  and Government's Economic Response to Coronavirus COVID-19  - - Simplified and much more.  For full details, contact us for information relevant to you. Or speak with your accountant. WE ARE OPEN FOR BUSINESS AS USUAL - our team are working remotely on secure cloud based systems. We are taking on new clients [...]

Bookkeeping solutions for your quarterly ATO obligations

By | 2019-10-13T23:51:29+00:00 October 8th, 2019|Categories: ATO, BAS, Business Management, GST, Ideas, Restaurant Bookkeeping, Superannuation, Tax|

Every quarter of each financial year, your business must meet certain reporting obligations set by the Australian Taxation Office (ATO). These include Business Activity Statements (BAS) and Pay as you go (PAYG) withholding.  While some businesses may meet these obligations on a monthly or annual basis, most businesses lodge their reports and payments every 3 months. [...]

How to Set Up Single Touch Payroll

By | 2019-07-11T08:04:44+00:00 March 21st, 2019|Categories: ATO, Employees, Payroll, Regulations, Restaurant Bookkeeping, Superannuation, Tax|

What is STP (Single Touch Payroll)? Set up Single Touch Payroll now! From 1 July 2019 all businesses will need to be electronically connected to the ATO to report employee payroll. You can't avoid getting on board because this is law.  It is a government initiative aimed at streamlining business reporting to the ATO. Therefore, your [...]

Navigating Single Touch Payroll for Cafes & Restaurants

By | 2019-07-11T08:11:26+00:00 January 14th, 2019|Categories: ATO, Payroll, Restaurant Bookkeeping|

Australia has reached a new milestone in digital bookkeeping with the passing of the legislation for Single Touch Payroll reporting earlier this year (STP). Starting July 2018, companies with employee headcount of 20 or more were required to implement single touch payroll reporting through payroll or accounting systems. And now, after months of uncertainty for small [...]

Is Gifting Wine a Tax Deduction?

By | 2019-12-08T22:41:06+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 | 2019-07-11T08:21:03+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) [...]

Single Touch Payroll Is Coming To A Restaurant Near You

By | 2019-07-11T08:20:35+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 | 2019-07-11T08:24:35+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 | 2019-07-11T08:23:41+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 [...]