From 1 July 2015 taxpayers will only have two methods available to calculate and claim their work-related car expenses – the cents per kilometre and log book methods. Additionally, the sliding scale of deductions available under the cents per kilometre method based on vehicle engine size will be removed and replaced by a flat rate for all vehicles. The change is expected to result in budget savings over the forward

We were fortunate earlier this week to witness the induction of our Principal, Lloyd Priddle, as a Fellow of Certified Practising Accounts (CPA) Australia. Founded in 1886, CPA Australia is one of the world’s largest accounting bodies, with more than 150,000 members across 121 countries. Core services to members include education, training, knowledge exchange, technical support, networking and advocacy. Only highly-experienced CPAs can become a Fellow of CPA Australia (FCPA), so

The National Tax and Accountants Association have prepared a video summary of tax changes from the budget handed down last night.

Many bookkeepers are still using outdated bookkeeping systems that do not share information delivered by the latest technology advancements. It may be because they are not fully informed about cloud based accounting systems or they believe that the old model still works ‘just fine’. Unfortunately many are also slow to adapt to the changing landscape of Ecommerce Strategy, and discourage the adoption of these new technologies because they are desperately

If you’re like many small business owners, you probably have a somewhat rudimentary understanding of business accounting. But wrapping your head around the VPNfair, especially for those math-avoidant types, can be the least favorite part of owning a business. And while it may seem easiest to focus in on a few vital tasks, experts insist that all elements of business accounting are important. Linda Pinson, owner of Out of Your

From 1 July 2015, some business owners will have their pay as you go (PAYG) withholding cycles changed. The cycle change is based on the amount you withheld under your Australian business number (ABN) in all branches during the 2013-14 Financial Year. If you withheld between $25,000 and $1 million, you will need to report and pay monthly. If the amount was more than $1 million, you will need to report and pay electronically according to the

Why would we give away FREE access to Xero? Simple – we love Xero, and we want to help businesses who are yet to try the leading cloud accounting software solution for small business. If you or someone you know has been thinking about switching to Xero, then this the perfect opportunity!

One of the main reasons businesses fail is because there isn’t a good bookkeeping system in place that would provide warning signs the business could run out of cash. You can choose to set up a bookkeeping system manually (using accounting books), electronically (spreadsheets) or use accounting software. Unless you want to get familiar with bookkeeping practices, Business Continuity Planning Software is the most efficient choice. If you’re looking for

A bookkeeper is a bit like a GP – there’s one on every corner but great ones are hard to find. And when you do find one, you should never let them go. But how do you know if your bookkeeper is good or even better, a great bookkeeper? 1. Training and accreditation Every bookkeeper should have some sort of formal bookkeeper or accounting training and preferably be a registered BAS

SuperStream aims to improve the efficiency of Australia’s superannuation system and provides a new standard for employers when making super contributions. It requires an employer to send contributions electronically in a standard format with linked data and payments. Why Is This Happening? Without SuperStream reforms, each super fund sets their own requirements with regards to how they will receive payments and contribution advice details for each member. This can often