Xero Tax Code Changes
Xero has decided to change some of its tax codes. This will happen in a new release in late March 2013. Two codes are being dumped and 3 new codes are being introduced.
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Source Documents & Our Obligations as BAS Agents
This is part 3 in our blog series about source documents. In parts 1 and 2 we explained what source documents are, why they’re important, and also how our clients deal with them. Today we will look at how the legislation which guides us as BAS Agents impacts the way we work with source documents.
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How do our Clients Deal with Source Documents?
Last week we looked at source documents, what they are and why they’re important. This week we look at how our clients work with source documents, how they deliver them to us, and the various issues that can arise from time to time.
How do our Clients Deal with Source Documents? Read More »
What are Source Documents & Why are they Important?
Bookkeepers and accountants who are processing your accounts may ask you to present “source documents” to verify the information in your accounting file. What are source documents and why are they important?
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What are Source Documents & Why are they Important? Read More »
Dad & Partner Pay
From 1 January 2013, the Paid Parental Leave Scheme will be expanded to include the new “Dad & Partner Pay”. Under this new scheme, eligible working fathers and partners can get up to 2 weeks of Dad and Partner Pay to take time off work to care for a newborn or newly adopted child. This applies to both heterosexual and same-sex couples.
How BAS/Tax Agents can advise of a change of contact details
If you are a registered BAS Agent or Tax Agent, you are obliged to advise both the ATO and the Tax Practitioners Board (TPB) of any change of your contact details.
Some BAS/Tax Agents are under the impression that if they advise the TPB of any change of their details, that the TPB will automatically advise the ATO of this information. This is not the case! You must advise both the ATO & the TPB of your details changes in order to keep them up to date. The TPB only advises the ATO of approved or cancelled registrations. They don’t exchange any changes in personal contact data.
The contact data you must advise the ATO & TPB about include:
- Postal address
- Telephone number
- Fax number
- Email address
To advise the ATO, you can call them on 1800 443 846.
To advise the TPB of any contact details changes, go to their website www.tpb.gov.au, select Agent Log-in, enter your log-in details and then choose Your Profile. Enter your contact detail changes as required. You can also send an email to the TPB via enquirymanagement@tpb.gov.au to advise them of any changes.
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Taxable Payments Reporting for the Building & Construction Industry
Recently I attended one of the free webinars presented by the ATO about the new Taxable Payments Reporting system that has begun as of today, July 1st, 2012. I found it to be very informative and easy to follow. I highly recommend anyone who needs to know more about the new system, attends one of these webinars. Here’s hoping the ATO will produce many more webinars across a whole range of topics in the months to come – much easier attending a presentation from the comfort of your own office!
The following is a summary of what was presented at the webinar:
Taxable Payments Reporting for the Building & Construction IndustryRead More »
Taxable Payments Reporting for the Building & Construction Industry Read More »
Why You Should do Your Own Bookkeeping
There’s a big push at the moment to outsource every task in your business that you don’t want to do. While this concept has merit, there is one business task that you probably shouldn’t outsource, your bookkeeping.
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9 End of Financial Year Preparation Tips (Fact Sheet Download)
The end of the financial year (EOFY) is a busy time for business owners. There are many things to finalise and prepare. To ensure your business is ready for the EOFY, we have prepared answers to 9 questions small business owners may have about the EOFY. We cover things like small business expense deductions, record-keeping, documents you need to prepare for your accountant and much more.
We have created a PDF fact sheet for you to download. Here it is, enjoy!
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9 End of Financial Year Preparation Tips (Fact Sheet Download) Read More »
The Tax Practitioner’s Board: Who & What?
On 1st March 2010, the six individual tax agent boards were replaced with one single board: The Tax Practitioners Board (TPB). This board was established as part of the new law, the Tax Agent Services Act 2009. The TPB has several responsibilities. Some of these include:
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