Recent changes affecting employers

1 January 2020 seems to be an important day to note for employers as there are 2 changes that employers need to be aware of, in relation to the way superannuation guarantee charges are calculated and payroll tax threshold changes.

Salary sacrificed super contributions and SGC obligations

Prior to 1 January 2020, if an employee decides to salary sacrifice their wages into their super fund accounts, the employer can choose to exclude those amounts in their superannuation guarantee contribution calculation.

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in Knowledge Base / News / Running A Business / Starting a New Business / Tax Advice and Planning / Xero Cloud Accounting / Xero Training  by Emily Yip

December 2019 Super Due Date

December quarter Super will be due 28 January 2020 – for those who use Xero Auto Super, please submit and approve by 21 January 2020 to allow time to process.

If you need assistance with your payroll – why not give us a call?

in Articles / Bookkeeping and Payroll / Knowledge Base / Running A Business / Tax Advice and Planning / Xero Cloud Accounting / Xero Training  by Emily Yip

5 time saving tips to managing your business

Small business owners wear a lot of hats – they are managers, marketers, salesmen, customer liaison officers, human resource managers, workers, bookkeepers and more!

It can be overwhelming at times so smart business owners try to manage these by working smarter. While we cannot tell you how to run your business, if you are using Xero accounting software, there are smarter ways to run your business when it comes to bookkeeping and record keeping, here are 5 of them.

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in Articles / Bookkeeping and Payroll / Knowledge Base / News / Running A Business / Starting a New Business / Xero Cloud Accounting / Xero Training  by Emily Yip

Are you spending too much time on admin work in your business?

As a small business owner we wear a lot of hats:

  • generating income to the business (aka the bread winner)
  • issuing invoices and following up on overdue invoices from non-paying customers
  • managing bills and payment of such
  • recording transactions and preparing BAS
  • responding to requests from clients/leads
  • checking the mail/emails
  • keeping up with your industry’s regulations
  • Tidying up the office
  • … the list goes on.

Question to you: on average how many hours of admin work do you do every week?

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in Articles / Bookkeeping and Payroll / Knowledge Base / News / Running A Business / Starting a New Business / Tax Advice and Planning / Xero Cloud Accounting / Xero Training  by Emily Yip

Single Touch Payroll – get sorted now!

Think your good old spreadsheet or notepad is good enough to keep track of employees’ wages? Think again!

On 12 February 2019, the Parliament has passed the laws requiring all businesses use single touch payroll from 1 July 2019.

This means that from 1 July 2019 onwards, all businesses that employ staff, whether it is 1 or 100, are required to register for single touch payroll to keep track of their employee wages, PAYG Withholding and superannuation obligations.

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in Bookkeeping and Payroll / News / Xero Cloud Accounting  by Emily Yip