Following on from last month’s ‘End of Financial Year Project Plan’, take this opportunity to review your business generally.   Before End of Year – Review Business Progress Review Profit & Loss to end March/April – Check with...

Benjamin Franklin once said “By failing to prepare, you are preparing to fail.” Take this opportunity to make your End of Year stress free by using the timeline and your trusted advisor to calmly prepare for the end of year.   April 21 April: Lodge...

Pay slips ensure that employees receive the correct pay and entitlements and allow employers to keep accurate and complete records.   When are pay slips given? Pay slips have to be given to an employee within 1 working day of pay day, even if an employee is on...

Tax Pre-Payment A pre-payment is a payment made in advance for an expected tax bill. A business can make pre-payments at any time to make it easier to manage its tax. Some tax liabilities qualify for early payment interest when the payment is made more than 14 days...

A company is a separate legal entity with its own rights and obligations. Company assets, liabilities, income and expenses belong to the company entity, not to the individual directors. Directors are bound by certain rules that govern your behaviour. You must carry...

The ATO has developed a tax risk management and governance review guide for business. While aimed at large business, there are guidelines for  small to medium businesses as well.   The ATO is encouraging businesses to adopt an internal control framework...