EOFY – Page 3 – Streamline Management

2023/2024 financial year is coming to an end

Don’t go making crazy purchases without reviewing where you are at, and speaking to your tax accountant.
EOFY deals are great for salespeople trying to meet their commission targets, they might not really benefit you and your business.

Review your position
You can’t make sensible last minute decisions without data.
Let’s get your Xero file (or insert other software here) up to date, process everything still outstanding so you know exactly where you stand. There is not a lot of benefit spending more money, if you are already in a loss position. If you are in a surprise profit situation, it would be good to know before its too late to take action.
Speak to your expert and get customised advice about your situation.

28/05/2024

Its time to prepare for the end of 23/24

Looking for a few tips over breakfast?
Come join Nicole on Wednesday 29th May.

Tax planning needs to happen now – 30th June is too late!
Don’t go making crazy purchases without reviewing where you are at, and speaking to your tax accountant. EOFY deals are great for salespeople trying to meet their commission targets, they might not really benefit you and your business.
You can’t make sensible last minute decisions without data.
Speak to your experts before Financial New Years Eve!
And look at how to setup 2025 to be an even better year for your business!

15/05/2024

Taxable Payment Annual Report (TPAR) 2023 lodgement deadline

If you have a construction, cleaning, IT, freight/courier or security business you need to report payments made for service to your subcontractors to the ATO.
This is one of the submissions that won’t cost you any money (assuming you lodge on time, otherwise expect a fine).
Construction is very broad – it includes engineering services, architects, communications construction, landscaping, retaining walls, swimming pool installation and wallpapering.
Need a hand to get the paperwork in by 28th August? Ask us to help.

28/08/2023

TPAR (Taxable Payments Annual Report) for subbies due soon

Payments (cash basis) made to subcontractors (not employees) for their labour need to reported to the ATO by 28th August if you operate in the construction, IT, cleaning, courier/delivery or security space.
Nothing to pay the ATO on this lodgement – just paperwork! (A bit like group certificates, but for subbies)

28/07/2023

Small Business Skills and Training Boost

This brand new piece of legislation has been back dated, you can claim an extra deduction for expenses in the last 15 months and the next 12 months.

07/07/2023

2023 STP finalisation (Group Certificates)

It’s time to reconcile wages and submit STP finalisations to the ATO on behalf of your employees. You need to make the lodgement on or before 14th July.

05/07/2023

Small Business Technology Investment Boost

This retrospective legislation finishes this week.
However, you can claim expenses you’ve already paid in running your business.
What does the ATO mean by ‘technology’? its pretty broad.

26/06/2023

Group certificates and STP finalisation for staff 2023

Its June, so no doubt your staff are asking you about their group certificates (now called STP finalisation).
No so fast! Calm your farm!
Reconciliations need to be completed to make sure all payroll info is correct before submitting anything to the ATO.
You do not provide any documents to staff, everything is online.

23/06/2023

Act now for 22/23 super

If you are managing your super cap or maximising tax deductions by paying super a little earlier – you’ll need to authorise the xero payment now. Right now!
If you aren’t chasing extra deductions as you haven’t got much of a profit or the super cap isn’t on your radar – as you were. Make payment by the standard due date 28th July.

14/06/2023

2022/2023 financial year is coming to an end. Are you prepared?

Don’t go making crazy purchases without reviewing where you are at, and speaking to your tax accountant. EOFY deals are great for salespeople trying to meet their commission targets, they might not really benefit you and your business.

Review your position
You can’t make sensible last minute decisions without data.
Take a look at your bottom line – before hitting the shops.

The end of the financial year is nigh, now is the time to prepare yourself. Make sure you take advice from licenced professionals.

26/05/2023

Category: EOFY