My last blog was all about the new “Netflix Tax” and was really just an informational blog outlining what, how and when etc. In this blog, I want to look at the tax from a bookkeeper’s perspective and provide a real “from the trenches” viewpoint. All is not what it seems with the Netflix Tax!
…Netflix Tax – A Bookkeeper’s View (from the Trenches)Read More »
Netflix Tax – A Bookkeeper’s View (from the Trenches) Read More »
For some time now, larger IT companies have been charging GST to their Australian consumers. Examples of these are Google, Adobe and Linkedin. They are doing this because of a new law that began formally on 1 July 2017. This new law is known colloquially as the “Netflix Tax”, requires all international companies with an annual GST turnover of $75K or more and selling services and digital products to Australian consumers, to enter the Australian GST system. While most of us aren’t too impressed with the 10% price hike on these products, GST registered business owners understand that they can claim the GST back in their BAS which alleviates the sting a little……or so they thought! Sadly, this is not the case with this new law. The “Netflix Tax” tells us something different and if you’re not paying attention, you or your BAS Agent are likely to get things wrong when processing your next BAS. Read on.
…Registered for GST? What you need to know about the Netflix Tax.Read More »
Registered for GST? What you need to know about the Netflix Tax. Read More »
Recently I was asked by a client to put a hold on the payment of his employee’s SGC (super guarantee contribution) due to an ongoing dispute between them. I of course, refused to do this because it is illegal to hold SGC payments and/or not pay them at all. Did I do this because I’m a little “Goody Two-Shoes” who always does the right thing? Well, to be honest, there probably is a little bit of that involved, but the real reason why I didn’t play the game with that client is that I am a BAS Agent. As such, I am bound by a strict code of conduct which dictates what I can and cannot do. If being a BAS Agent also means you have to be a “Goody Two-Shoes” then so be it – I’m guilty as charged.
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We’re starting something new this financial year at e-BAS Accounts and if you’re one of our lucky clients, you’re going to be part of it! The following is a letter we have written to all of our clients explaining what is happening and why.
…Our giving program is all go! Read More »
In our last blog, I announced that e-BAS Accounts wants to start giving back. We are going to do this by way of donating a portion of our profits to certain charities each month. More specifically, we will gift 2% of every client invoice we raise to charity. Over the last 2 weeks, I have researched the various charities I am interested in and have decided upon the charities which will be the recipients of our donations. These charities are listed below:
…Our giving program – charities have been chosen! Read More »
This blog is going to be more of a brain dump! I’m not entirely sure what’s going to come out of this one but here goes! So here’s some background on what’s been floating around in my head of late:
The past two years have seen enormous growth in my little bookkeeping business for which I am very grateful. We are doing so well in fact, that I now feel that it’s time to give something back to the community to show my gratitude. So for the past few months, I have been wondering about my options for “giving back”. Being so busy now in the practice, it’s not really possible for me to give of my time per SE so I have been looking at some alternatives. Something I am playing with (currently only in my head!) is a donation of a percentage of our profits. The way I am thinking this might work is described below.
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We want to give back & this is how we might do it (a work in progress)Read More »
We want to give back & this is how we might do it (a work in progress) Read More »
The Government are starting to push through some rather drastic measures in regards to how small business reports to the Australian Tax Office (ATO). In my last blog, I wrote about one of those new measures, Simpler BAS – a new way to report GST for SME’s. In today’s blog, I will introduce another new reporting method called “Single Touch Payroll” (STP). As the name suggests, STP will affect business owners who are also employers. Read on to find out some facts if this affects you.
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What you need to know about Single Touch Payroll Read More »
The ATO has recognised that there are too many labels to complete on the BAS – you can see just how many if you check out my blog series on BAS Labels – way too many! So, to make things easier for small business, a new “simpler BAS” will be introduced from 1 July 2017. It has been designed to help businesses reduce the time spent on BAS compliance and its associated costs. So how exactly does the “Simpler BAS” work and will it actually simplify our business lives? I’m not so sure…….
…Simpler BAS – simpler in name only? Read More »
Sadly, early in January 2017 my bookkeeping assistant, Tash Hilton, decided bookkeeping was not for her and left e-BAS Accounts. We wish Tash well as she endeavours to undertake a career as a Bowen Therapist. It was definitely a battle getting through the Oct-Dec 2016 BAS pile without her during February and the stress levels were very high around here as a result! I thought I would have to go through the whole process of advertising, interviewing, trialling, training etc. again, but luckily for me, I haven’t had to bother! My daughter suggested I call her friend, Ellie Ryan who is a trained bookkeeper. Long story short, Ellie has been trying out with e-BAS Accounts these last few weeks and has turned out to be a perfect fit. I am very lucky indeed. Ellie is currently studying a dual Certificate IV in Financial Services (Bookkeeping & Accounting) and is aiming to become a BAS Agent. Her completed hours with e-BAS Accounts will assist her with her registration when the time comes. I am very happy to be a part of her bookkeeping journey and hope her skills and knowledge improve during her time with us.
Just as I did with Tash Hilton, I have decided to introduce Ellie here via a short interview so you can get to know her. So here it is, my interview with Ellie, my new staff member:
…Introducing our new staff member, Ellie Ryan Read More »
This week I just wanted to write a quick blog about an app we’ve been using a lot here of late in the e-BAS Accounts office. It’s called the “Snipping Tool“. We’re probably a bit late to the party on this one because I’m sure it’s been around for a while, but we’re only just discovering how useful it is! It’s a Windows app so apologies to all those Apple users before we start, but I’m sure you guys probably have something similar anyway.
…Guess what’s cool? Why, it’s the Snipping Tool! Read More »