With Xero, this process becomes so easy, it’s just a click of a button! However, it is important not to forget the vital steps that should be taken before pressing the publish button!
Well the end of financial year is nearly here so what can you do prior to June 30 to keep more money in your pocket and not the tax man?
Many proposals from budget night will also impact your future tax position. So take a read through and see which measures can potentially benefit your business.
Do you remember when our own team was part of the Australian Governments Board of Taxation Review into the Tax impediments for small business that was commissioned by the then Minister for Small Business, Bruce Billson? One of the key recommendations from the review was to reduce the BAS reporting requirements down to what the ATO actually need or use.
Is there an Agreement in place?
The concept of a shareholders' agreement is similar to that of a marriage contract except it involves all the shareholders of a corporation and their relationship with the company and each other.
This year’s budget was not as action packed for small business as it has been in prior years.
While creating a driverless vehicle may be a distinct possibility in our near future, a business without people to guide and shape it is not a realistic proposition.
Hitting that brick wall? Are you overwhelmed by the number of different tasks you’re trying to manage in your business? Many businesses do not have absolute clarity around their team’s defined roles and responsibilities.
Contractor or employee? Follow these guidelines to stay on the right side of the ATO.
Taking on a contractor can be the ideal solution to tackling a particular project or assignment that demands specialised skills or capabilities your regular employees do not have. Possibly you just require an extra pair of hands, for a limited period, to ensure you keep your company’s workflow on track? Or perhaps you’re keen to bypass the formal recruitment process and its incumbent employee obligations?
With the Government’s announcement of the New Start-up investment tax incentives introduced to Parliament this
Don’t be left up in the air by traditional IT solutions. Check out our top 10 advantages for small businesses switching to cloud computing.
Success is about planning. We want to help you achieve success.
Our Business Development offerings are practical and tangible services that help to create long term value. Business Planning is a great starting point.
The team are pleased to announce Smart Business Solutions - Financial Planning has been announced as a finalist in the Financial Advice Innovator of the Year in the 2017 FINTECH Business Awards
Why you need to get an accountant in 2017. An accountant or bookkeeper will free you up to focus on your core business.
If you discovered a business owner was operating without a set budget, you’d probably think he/she was incompetent or not taking his/her financial obligations seriously. Still, many households don’t have a budget in place.
What's happening in the Xero space? Here is what we uncovered during Xerocon San Francisco.
Have you noticed that your Xero has gone offline for an hour or two in the last couple of weeks? This is because Xero is moving to a new platform, one that will allow them to develop further the technology that they include within their software.
The past financial year has seen a marked increase in the number of Tax Audits with the Australian Taxation Office’s (ATO) notable inspection of business transactions across the board.
You might view Twitter and Facebook as frivolous time-wasters that have no place in the business arena. Five years ago I was my told by a friend, “your business needs a Facebook page”.
As you may already be aware, from the first pay period commencing on or after 1 July 2016, the national minimum wage will increase to $672.60 per week, or $17.70 per hour.
Thinking about renting out your personal or holiday using Airbnb or a holiday agent?
In May 2015, the ATO released official guidelines informing Airbnb hosts of their obligations to disclose any money they make from using the service.
The team at SMART have summarised our take on the budget and how it will impact locals on the Mornington Peninsula.
Victorian Treasurer Tim Pallas handed down the Andrews Government’s second Budget yesterday and while it doesn’t always get the same amount of media attention as the Federal budget, there are certainly some items that small & medium business and high net worth individuals need to be aware of.
Time is ticking with not much time left until SuperStream becomes mandatory, employers are being urged to cross SuperStream off their ‘to-do’ list ahead of the 30 June 2016 deadline.
The ATO has issued a timely reminder before the end of the financial year on the changes announced in last year's Budget.
Listen up! The word on the street is that big changes to superannuation might be introduced on budget night May 3rd. If made they will come into effect as soon as the announcement is made, leaving no time to react to the changes. We’ve got the low down on what’s expected and how it might impact you.
What if you can’t be there? Have you got someone capable of running your business? Do they have the shoes to fit ?
Most people will quite literally earn millions of dollars in their lifetime. Yet many people struggle financially and live from one pay period to the next.
A Trap That Causes Many Businesses To Go Broke, While They’re Making a Profit
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.”
Treat finding an accountant like speed dating. Life is busy, you need your accounts looked after and you don’t have time to wade through all the possible suitors. You know what you’re looking for – someone who is on the same page as you, who’s going to hit the deck running and who’s going to make your life easier with them in it.
Following many requests from clients SMART Business Solutions has now started a dedicated bookkeeping division offering you the opportunity to spend more time on your business and less time with the nitty gritty of bookkeeping
SMART Business Solutions are proud to have been awarded several significant awards recently.
We are extremely proud to announce that Shannon Smit, has been appointed to the Board of Taxation’s Advisory Panel for 2016.
Don’t be left up in the air by traditional IT solutions. Check out our top 10 advantages for small businesses switching to cloud computing.Cloud computing is fast becoming the norm because storing information and using software hosted on the Internet has many advantages.
We are frequently asked questions about obligations for WorkCover and Payroll tax. In this article we explore the details, cutting through the legal jargon so you can gain a greater understanding of how it effects you and your business.
New Year’s Eve is famous for the New Year’s Resolutions people make to better themselves in the coming year. What about your financial future? How can you ensure you stick to your resolution?
Small business owners have a lot to think about: sales, staffing, customer service, vision, growth, the list goes on. In fact, it is hard not to think about your business when you’re a small business owner. Perhaps the one responsibility you would rather not think about is bookkeeping/accounting?
Some business owners try to avoid the hassles of accounting by simply ignoring the problem. “I’m too busy,” they say, but no business can hide from accounting. If late lodgement penalties aren’t motivating enough, hopefully the knowledge that you have basically no visibility into the vital indicators of business health will be.
Sure, there are online tools out there to make the process less burdensome, but could your time be better spent? And while you might think that a part-time bookkeeper might solve your problem, it really depends on your needs, and there are downsides there too.
HERE ARE what we think are THE TOP 5 REASONS TO OUTSOURCE YOUR bookkeeping to SMART Bookkeeping Solutions in Mornington
We often hear from clients “I often forget to send invoice reminders or statements and invoices are falling through the cracks, can Xero help with this?” Easy, of course it can!
It's time to celebrate! SMART Business Solutions are pleased to share with our clients some exciting news. The Finalists in the Australian Accounting Awards have been announced with the team being successful finalists in the following categories
- Best Marketing (you know we always try to be different!) Shannon was also interviewed http://www.accountantsdaily.com.au/breaking-news/8605-accountants-must-touch-their-clients-12-times-a-year
- Accounting Student - Well done Hayden!
- Office Administrator - Awesome effort Nicole!
- Partner of the Year - Shannon Smit for both Transfer Pricing Solutions & SMART Business Solutions
Quality Matters – Independent review with outstanding results for SMART Business Solutions
Paying an accountant to handle all of your financial reporting can be expensive, but if you have several different sources and deductions or if you own a small business, it can be worth it.
Is your business thriving, but you struggle to maintain positive cash flow?
Don’t let it crumble from underneath you
It’s nearly BAS time again - tips to make BAS processing easier
BAS time seems to come around quicker and quicker! Here are some tips to try and make it a little easier!
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