nicole – Page 56 – Streamline Management

International Accounting Day

Today is International Accounting Day, we hope all our accountant buddies are having a wonderful day.

We are often asked ‘What is the difference between a bookkeeper and an accountant?’ Or ‘Do I really need both?’

To us it’s like doctors and nurses, accountants (tax agents) are the doctors and bookkeepers (BAS agents) are the nurses, both have an important role to play in client health and well being. We love to work together to get the best outcome for our clients.

10/11/2021

JobSaver fortnight ending 7th November

Its time to confirm eligibility to receive your next payment for the fortnight ending 7th November – which will be paid at 15% of wages.
Minimum payment will be $1,125 for the fortnight ($562.50 per week).
You will need to use the same comparison method you used last fortnight.

08/11/2021

Donut Appreciation Day

Donut forget to appreciate all the good things in your personal and your business life.

We really appreciate being able to help our great clients run their businesses.
We also appreciate our fun colleagues – thanks for collaborating with us, it really boosts us up.

05/11/2021

Director ID

No not for movie directors, for company directors.
ATO says: The director identification number (director ID) is a unique identifier that a director will apply for once and will keep forever. If you’re a director of a corporate trustee of a self-managed super fund (SMSF) you will need to apply for a director ID.
You will be able to apply for a director ID from November 2021 on the new Australian Business Registry Services (ABRS) online and will log in using the myGovID app.
When you must apply for a director ID, depends on the date you became a director. You will need to apply for your director ID yourself to verify your identity. No one can apply for it on your behalf.

03/11/2021

NSW Micro Business Grant reconfirm eligibility

If you haven’t received a payment today you may need to test and reconfirm your eligibility.
Make sure you have reconciled all of your deposits before you complete testing.
You do not need to submit details, however you need to keep records on file in case of audit.

01/11/2021

October IAS is due soon

It sure comes around quick, doesn’t it?
Put some money aside – its due on Monday 22nd November.
Don’t get fined for late lodgement!
(you will be able to make a payment arrangement with the ATO after lodgement if you are having cashflow issues)

01/11/2021

Super for September quarter due!

Have you paid super for your employees for the September quarter?
Make sure you’ve updated super rates to 10% for all employees.
This also the first quarter of new rules for closely held employees (owners and their families), annual wages are no longer acceptable, they need to have wages declared each quarter and super will be payable.

The super needs to be in your employees account by 28th October – tomorrow! If you haven’t already paid you’ll probably miss the deadline. It takes longer than you think for clearing houses to process the payment and distribute to each employee. And you are on the hook for that delay.

27/10/2021

Face to face ABN Coffee Club

We are hosting our Face to Face Australian Bookkeepers Network ABN Coffee Club next Monday 1st November for bookkeepers in the Chatswood area
in person!
with people!
come join us!

25/10/2021

JobSaver fortnight ending 24th October

Service NSW is telling us you absolutely, totally, really will need to confirm eligibility to receive your next payment for the fortnight ending 24th October – which will be paid at 30% of wages (down from 40%) minimum payment will be $1,125.
To receive your next payment, you’ll need to login and confirm details on or after 25th October.
Make sure you have reconciled ALL of your deposits before you complete testing.

24/10/2021

Stapled Super for Employees

Oh yay! More red tape for small business!
From 1st November 2021, stapled super kicks in.
Super funds will be stapled to employees as they move from job to job, so if they don’t complete a superchoice form, you’ll need to check for fund details with the ATO, rather than just add the new employee to your default fund.

21/10/2021

Author: nicole