
On August 24, 2018
Business Information Sheet – Cyber Security of Your Software
Backup of Computers and all Data Backups are essential. Offsite, remote or cloud backup is the best option; you can “set and forget”, and it then happens automatically in the background. Alternatively use an external drive and schedule regular backups, e.g. at the end of each work day. Electronic Document Storage Electronic storage of business
- By Jennifer Lawrence 0 Comments View More

On November 17, 2017
Am I in business?
When does a hobby become a business? We often get asked: at what point does a growing hobby need to be registered as a business? Here are some handy pointers: Business Victoria: So you want to start a business? ATO: Are you in business?
- By Jennifer Lawrence 0 Comments View More

On November 17, 2017
How do I start a business? Info for startups
We’re always being asked: how do I get my great idea off the ground and start earning a living from it? Well, we’ve been there and done that, and work with plenty of business owners who started with a side project before turning it into a profitable startup! Here’s a compilation of some sites to
- By Jennifer Lawrence 0 Comments View More

On June 9, 2017
Business Information Sheet – Simpler BAS Bookkeeping Guide
What is GST? Goods and services tax (GST) is a broad-based tax of 10% on the value, (i.e. 1/11th of the price), of most goods, services and other items sold or consumed in Australia. There are some transactions that are GST-Free or GST-exempt. Businesses that are registered for GST will: include GST in the price
- By Jennifer Lawrence 0 Comments View More

On June 9, 2017
Business Information Sheet – Simpler BAS from 1 July 2017
The New World of GST Codes – Simpler BAS The ATO has simplified the GST reporting system to make it simpler for a business to conduct its trading with less complexity in applying the GST law. GST or Not Included To trade in Australia a business must: Obtain an ABN. Decide whether to register for
- By Jennifer Lawrence 0 Comments View More

On May 5, 2017
Business Information Sheet – Contactor or Employee
This document is intended to raise an area of possible concern for discussion and to provide information about workers who may be engaged as contractors but should be engaged as employees. To remain compliant with the laws of Payroll Tax, Workers Compensation and Superannuation Guarantee, an independent contractor must pass a number of tests to
- By Jennifer Lawrence 0 Comments View More

On May 5, 2017
Business Information Sheet – Superannuation Guarantee
Superannuation Employer Obligations Offer your employees a ‘choice of fund’ Identify new employee is eligible Provide a standard choice form Nominate a default fund (must be a MySuper product) Act on employee’s choice of fund Pay superannuation guarantee before due date As of 1 July 2014, the superannuation guarantee rate is 9.5% You must keep
- By Jennifer Lawrence 0 Comments View More

On May 5, 2017
Business Information Sheet – SuperStream
SuperStream Overview SuperStream is a compulsory system of submitting Superannuation Payment information (standardised data) electronically. The information links the payment made by the employer to the employees account in the relevant superfund/s. It is the intention that SuperStream will make the whole superannuation system and employer meeting their obligations efficient, faster, more reliable and with
- By Jennifer Lawrence 0 Comments View More

On May 5, 2017
Business Information Sheet – Record Keeping Obligations
Business Record Keeping Requirements Under tax law, if you are operating a business you are required to keep ALL records explaining declared income and expenses, (i.e., tax deductions), whether it is a $5,000 sale or a $2.00 deduction, the ATO want to see some form of proof and also they may seek out inconsistencies. These
- By Jennifer Lawrence 0 Comments View More

On May 5, 2017
Business Information Sheet – Small Business Director Obligations
What it Means to be a Director of a Company A company is a separate legal entity with its own rights and obligations. Company assets, liabilities, income and expenses belong to the company entity, not to the individual directors. Directors are bound by certain rules that govern your behaviour. You must carry out your duties
- By Jennifer Lawrence 0 Comments View More