News

The government has initiated a new system that attaches a unique identifying number to an individual who is a company director. If you are a company director, you will need a director identification number by November 2022. You can apply for a director ID from...

A capital gain (or loss) occurs when an asset is sold. The difference between the purchase price and the sale price is the gain or loss. Capital gains tax (CGT) applies to money you have made from selling an eligible asset. Capital gains tax events occur...

Working with a BAS agent can benefit your business more than you may realise! Many new business owners try to save on costs by doing their own bookkeeping. However, this is one of the first tasks you can outsource to give yourself time and save money....

What is bank reconciliation – and why should you be automating the bank reconciliation process? Good bookkeeping is all about recording and matching your financial transactions. Over a usual week of trading, you’ll have a range of payments deposited into your bank account. You will also...

How is cryptocurrency taxed in Australia? Whether you're currently involved in a cryptocurrency like bitcoin or considering buying a cryptocurrency, it's vital to explore the tax implications. While these will vary according to your circumstances, and it's important to seek professional advice, there are some...

Working from home is becoming the norm for many businesses, either due to lockdowns or greater employee flexibility. It's important to think about the deductible expenses that you may be able to claim when working from home. Then make sure you include them in your...

The profit and loss report and the balance sheet are both key reports when it comes to getting in control of your company’s financial health. Understanding your finances is a vital part of running your business. But getting down into the nitty-gritty of the company accounts...

Why are so few companies taking cyber security seriously? And what can you do to enhance your cyber security and protect your valuable data? We live in a digital world where our company’s data and (crucially) our customers’ data are under constant attack. Hackers are always...

Supporting and promoting health and well-being in the workplace is essential for staff and business owners alike. Providing a physically and mentally healthy workplace is beneficial for all who work there, as it reduces staff absenteeism, increases productivity, and makes the workplace more enjoyable. If you...