Sometimes employees owe employers money at the end of their employment. (That was a tricky sentence!) This occurs for various reasons. For example: repayment for buying products, cash loan, till shortages, rent or benefits with a payment plan, over-claimed holiday or personal leave, overpaid wages, errors etc. When the employee finishes work, you want your money [...]
Did you know that every new employee in Australia must be given a copy of the Fair Work Information Statement 2019 (FWIS)? Regardless of their role or employment type, it must be given to the employee before, or as soon as possible after they start their new job. Failure to provide the FWIS to employees is [...]
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. [...]
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 [...]
If you're considering opening for Christmas Day, you may have to convince your customers that your restaurant will be a much better option than lunch or dinner at home. Christine Green (Director of Restaurant Bookkeepers Australia), during an interview with National radio program Talking Lifestyle, identified the top reasons why folks would have a better Christmas [...]
Business expansion is an exciting opportunity for restaurant and café owners. Nothing says success like opening another restaurant or café under your name. Keep track of your growing food business empire with Xero tracking categories. Tracking in Xero enables you to take a detailed look at various branches of your business. This is particularly helpful if [...]
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 [...]
Cafes are a typical small business model. Cash is lean, passion is rich, vision is large, ideas are flowing. To keep cash flow in check and save money, the business owner becomes an ‘expert’ at everything... very quickly becoming the head chef, waiter, bookkeeper, food and equipment buyer, human resources and I.T. Sound familiar? However, [...]
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 [...]
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 [...]
