smsf audit related tips

  Tax compliance require s  accurate record – keeping for tax records else your business could invite penalty notices from the ATO. W e will discuss the GST records and PAYG records requirement for the business owners like you  so that you always remain compliant at record – keeping end. You will also enjoy some quick tips that can help you with record-keeping  in the  future .    Read more 

 It really depends on the size and structure of the business . Some of the important things to consider are: - Number of transactions: Retail businesses or franchises can often have hundreds of transactions (sales and invoices) to process which can take up a lot of man-hours as compared to service-based businesses which wouldn't need as many customers to be sustainable.  - Number of employees: The more the employees in the business , the longer the bookkeeper will have to spend processing their payroll according to their individual circumstances. - Revenue: If the revenue crosses the GST threshold ($75,000 in AU), the business will have to submit a Business Activity Statement (Quarterly) as well.  - Expertise of the bookkeeper: As you get more experienced and skilled, obviously the time taken to do the work would be reduced as well. There are other factors as well and you may have noticed that they are all related to each other. So really, the answer to this question cou...

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  As the tax filing season is approaching, you must be knowing that some changes have been introduced […]visit the website to  read more

  Accounting is a valuable field of study that you can study for a variety of purposes. This field course provides you with information and skills that you can apply to several industries. It is also one of the most important courses for business management students. However, most students are not interested in this subject because we find that the subject is complex. Do they still have a question in mind as to why accounting is important? Because they have no idea that accounting plays a vital role not only in the lives of students but also in the lives of everyone. There are several reasons to show the importance of student accounting. Let's look at the importance of student accounting : - 1. Accounting keeps you organized. Since we know that students can make themselves more organized with the help of mathematics. But one thing you need to remember is that statistics are not enough to keep you organized. Sometimes students need help with budgeting. However, there are a few lim...