Category: Business Family

Home Business Month

Suddenly there are a lot more of us running or working for a home business!
Although the Streamline team have been able to work from home for years – this is different and at times there is a sense of overwhelm and being trapped.
Please sing out if there is anything we can do to help, or if you’d like to chat.

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Employee Stand Downs

So you want to stand down your employees during the lockdown – make sure you follow FairWork guidelines. They have updated their website today.

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2021 Payroll finalisation

STP finalisation for staff is due by 31st July – make sure you reconcile your payroll accounts BEFORE you press the button.
If we manage the whole payroll shebang for you, we have reconciled your accounts and need your permission to finalise – make sure you review and sign.
If we are supporting you, but you are the STP submitter for your business, we have sent you instructions on how to finalise.
Who? What? When? Where? Why? Reach out if you need a hand to sort out your payroll!

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Fashion Day in your family business

Do several members of your family have the same taste in work clothes because you work together in a family business?

From 1st July 2021 the exemption for businesses to regularly report wages for closely held employees (owners/directors/shareholders & their family members) is being removed.
Single Touch Payroll (STP) reporting for closely held employees must be at least quarterly, declaring a wage as at 30th June each year will no longer be acceptable.

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2021 Increase to minimum wages

Following the Annual Wage Review 2021, the Fair Work Commission (FWC) has announced a 2.5% increase to the national minimum wage.
The increase applies to anyone who is paid minimum award wages or the national minimum wage.
The award increase will happen in 3 stages.
Most awards will increase from 1 July 2021.

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Tea Day

It is Tea Day, do you fancy a cuppa and a chat? (it doesn’t have to be restricted to bookkeeping)
We’ll put the kettle on!
BYO cup and give us call or we’ll meet and share a pot and some cakes – we’re ready to listen.

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Happy Easter!

Hopefully we can all resist the urge to eat more easter eggs than we can count!
Happy Easter – enjoy the break!

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Battery Day

It’s only February, but it feels like ages since the Christmas break when we last recharged our batteries 🔋
Aussies are entitled to 4 weeks annual leave each year – we must remember to take it!
And we need to encourage our staff to take theirs too.
Not convinced? Leave entitlements are expensive to payout if you let it build up too much

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Make A Friend Day

We’ve made lots of friends, we call them clients!

We work really closely with our clients, so we need to be friendly to do our best work.
We’ll celebrate your highs, support you when times aren’t so good – like a best friend we will keep your secrets close and have your back with the tax office.

Are you looking for a new business friend?

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Allowable deductions for Christmas parties & gifts

Best to refresh your memory on the allowable deductions and FBT rules, before the event, so you don’t end up with any surprise tax to pay!
It is possible to enjoy some tax benefits out of your generosity and avoid Fringe Benefits Tax (FBT).
The following is a general summary of the tax treatment of Christmas giving.

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