It’s Superman Day, and while we aren’t leaping over skyscrapers (OH&S), we are busy making sure your business is faster than a speeding bullet for Payday Super.
Need Clark Kent reliability and Superman results? Our capes are freshly pressed and ready to go!
We will continue to do the doing for our clients, this is just a quick heads-up on the two main costume changes.
Time is flying, and the 2025/2026 financial year is nearly over.
EOFY deals are great for salespeople hitting targets, but are they right for your bottom line?
Before you make any last-minute business purchases, you need accurate data.
Preparation is the secret to a stress-free tax season.
Make sure to lean on your qualified & licenced tax accountant for specific advice, and for everything else bookkeeping… sing out!
Here is what we need to action together right now to get you sorted before 30 June:
Are you producing Australian Made goods or services?
We are proud to say our services are 100% Australian-made. No overseas outsourcing – just local experts helping local small businesses thrive.
Shopping with Aussie businesses supports smaller players (more than 95% of Australian businesses are classed as small), creating a ripple effect of jobs so those employees can shop local too.
Whether it’s everyday essentials, local manufacturing, or choosing an Aussie service provider like us, every dollar counts.
Payday Super laws have officially passed, and the countdown to 1 July 2026 is on. You will need to pay super at the same time as you pay wages. It must leap tall buildings and land in the employee’s fund within 7 business days.
We’ve put our undies on the outside of our tights, and we’ve got your back on these big changes.
What’s Changing?
– Increased Frequency: Depending on your pay cycles, your reporting frequency will shift from quarterly to weekly, fortnightly, or monthly. You’ll be in the phone booth a lot more often.
– New Calculations: ‘Qualifying Earnings’ will replace ‘Ordinary Time Earnings’ (OTE) as the base for calculating the 12% contribution.
– Cashflow Impact: If you don’t start your run-up now, you could end up paying April, May, June, and July all within a single month. That would be villainous for your cashflow.
Don’t wait for the 2026 deadline to activate your superpowers – start easing into the phone booth now to avoid a mid-2026 crunch.
Need a sidekick to make you look good? Ask us to give you a hand.
As a small business owner you might be looking forward to a few days off to take a little break and eat too much chocolate.
As an employer you might be a bit less keen to pay your team when they are not working.
Remember: ‘Employees (except casual employees) who normally work on the day a public holiday falls will be paid their base pay rate for the ordinary hours they would have worked if they had not been away because of the public holiday. An employee’s roster can’t be changed to deliberately avoid this payment. An employee doesn’t get paid for a public holiday if they don’t normally work on the day that the public holiday falls.’ says Fairwork
Part time staff need to be paid for their normal work days, if you ask them to come in on an extra day to get everything done, you need to pay them extra – no swapsies!
Is you Little Red Wagon owned by your business? Don’t crash into an unexpected Fringe Benefits Tax liability!
The FBT year ends next week and there are 3 things to think about:
-personal usage (have you got a logbook to document percentages?)
-would an EV be a sensible investment (right now? yeah fuel is $$%!)
-odometer reading on Tuesday night or Wednesday morning (to make paperwork less bad)
Speak to your accountant about potential FBT expenses now.
Are you aware what might trigger this extra tax for your business and just how costly it could be?
What is a fringe benefit?
A fringe benefit is like a payment to an employee, but in a different form to salary or wages.
To work out how much FBT to pay, you ‘gross-up’ the taxable value of the benefits you’ve provided. This is equivalent to the gross income your employees would have to earn, at the highest marginal tax rate (including the Medicare levy), to buy the benefits themselves.
FBT can be quite costly, that employee gift might cost you a lot more than you anticipated or budgeted for!
Not sure if you might be caught out by this extra tax? Speak to your tax agent about your situation and what exemptions might apply. They may also assist you to make smarter decisions to avoid future lodgements and liabilities.
Take a breath, put the kettle on, and let us handle the numbers. We promise to bring the organisation (and the good humour.)
We help small business owners keep calm – by managing deadlines and their accounts department.
As Heidi from Mackenzie Pronk Architects puts it, we’re all about that ‘comprehensive but light touch.’ We’ll give you the gentle reminders you need so that Panic Day stays an amusing date in our calendar, rather than a permanent state of mind.
Employee Appreciation Day is tomorrow.
Want to say ‘thank you’ without inviting the ATO to the party?
Handle the ‘fun tax’ (FBT) like a pro.
Keep your gift under $300 (including GST) per person. For the best tax outcome, stick to Non-Entertainment gifts like a hamper or a gift card. You get the deduction, they get the prize!
And don’t forget the non-cash options
What are you planning for your team this year?
How is the powergrid in your business looking?
Are you plugged into a fast charger or are you trying to run your entire business on a single AA?
Do you fear your staff starting to leak acid as their leave balances are too high? Encourage them to take the time to recharge and reduce your liabilities.
Don’t forget about real batteries – carefully dispose of the old tech you might have lying around your office 📱 💻 📷 ⌚️ 🔦 🎧 🕹 🖥 🚗
Don’t wait for a blackout – book a long weekend off, a delegate a mentally draining task and save your energy for the important stuff – making sales and delivering services to your clients.
It’s only mid February, and if you are already down to 1% – ask us about our uninterrupted power supply accounts department services.
