Streamline Management News
* This is generic info to give you a few pointers and should never be relied on as specific accounting advice.
Contact your expert (not your mates at a BBQ or the guy trying to sell you something) to discuss your situation.
Authorise payment of all October-December super now!
Superannuation needs to reach employee funds on or before 28th January (you’ll need to allow for the Australia Day long weekend).
Late super is not tax deductible – so leap tall buildings if you have to, to get it paid on time.
January 2025
Hello 2025!
Ease yourself back into work, but don’t miss the big ticket dates.
Super needs to be authorised earlier than usual to meet the deadline which is on the long weekend.
Who is looking forward to back to school?!
November IAS due!
Don’t forget to arrange payment of your November IAS before you shut up shop for the year.
It’s due by Monday 23rd December at the absolute latest.
If you are unable to pay in full, contact the ATO on 13 72 26 to arrange a payment plan to get you through the summer break.
We’ve got your number with our top holiday destinations this summer
We’re preparing the cabin for departure at noon on Friday 20th December and will touch down in the office at 9am on Monday 13th January.
The hosties will be coming through the cabin with payroll throughout the flight.
Oxygen masks will be available in the event of emergency – just use your whistle to attract attention!
Ensure your tray tables are in the upright position and enjoy your break – wherever that may be!
staff christmas leave
Don’t forget to create leave requests for the holiday period to keep employee leave balances up to date.
Christmas and FBT
Don’t let an unexpected tax bill spoil Christmas.
Entertainment is the most common type of FBT we see.
(It could also include providing a company car or paying personal bills)
What is considered entertainment? It includes events and/or gifts (at any time of year)
Invoice Email Hacking On The Rise
Hackers are targeting small business inboxes and changing bank details on invoices you send out to your customers. To minimise risk, we recommend adding text to your invoice email and/or invoice template.
We’d hate for the wrong people to get your money!
Staff Christmas Bonus
Thinking about rewarding staff with a bonus?
Don’t forget super is likely to apply and you’ll need to use the schedule 5 tax scale to work out the tax to withhold.
If you don’t process and report the payment properly – you can’t claim a tax deduction.
December 2024
There is a bit to cram in before the gifts are stuffed down the chimney!
We’ll be hosting our final coffee club for 2024, St Nicholas Day marks the official start of Christmas, take a break for a cuppa on International Tea Day, lodge and pay the November IAS before shutting up shop for the year.
Then lots of celebrations!
ABN Coffee Club Chatswood December meeting
We’re hosting our last 2024 ABN Coffee Club meeting for bookkeepers on Monday – all bookkeepers are welcome to come along and join in the celebrations.
Sing out if you are interested in being part of the community.
