Every now and then we get asked the question – “I want to hire someone to help with our business so I can have more time growing my business.” But before you put an ad up, or spread the word around, have you considered the following 10 things about finding the right staff, your business financial situation and understand the extra compliance work required?
Most of you may have received this news earlier last week: Xero has recently announced adjustments to their Subscription plans for Standard and Premium plan users, effective 28 September 2018.
Premium plan users
As Xero rolls out more features on reporting, payroll and mobile apps, the prices of the Premium plans will increase starting from 28 September 2018.
This means that in your September and October invoices you will see an adjustment made to your monthly subscription fee.
Standard plan users
Starting from 28 September 2018, Xero Standard subscription users will notice that they will be able to have up to two active payroll employees on the Standard $50 plan, as compared to one active payroll employee currently.
It is therefore a good opportunity to review your subscription plans to see if you can update your subscription plans depending on your business needs. If you need assistance in choosing the correct subscription plan, or to update your subscription plans, please contact us.
More information can be found on this blog post.
Recently we noticed clients have received letters asking for payment of business name renewal by going to a BNrenewal webpage.
While we do not know the genuineness of these letters, we can confirm that this correspondence did NOT come from ASIC. The letter would also ask for a higher renewal fee than if you have renewed your business name directly from ASIC.
We would like to remind business owners that business name details are publicly available to anyone doing a search on the ASIC website. This includes the business names, renewal date, address. ASIC would only issue business renewal letters 30 days before your renewal date, any time outside this time frame is very likely to be a scam.
I have received a suspicious email or letter… What now??
In this article we explore how businesses that have turnover less than $10 million can maximise their deductions to save on tax for 2018 year and other issues they need to be aware of – deadlines, things to do etc in the coming few weeks. We will touch on employee superannuation payments, $20,000 asset write off etc
This article will apply to businesses running as sole traders, companies, trusts and partnerships.
Find out what payments and lodgements are due in April and May 2018 for you and your business!
If you are required to pay PAYG Instalments quarterly, you should either have received a paper form, or have access to the form online via your MyGov account. Your due date for payment of Instalment is 28 April 2018.
Quarterly Business Activity Statements (BAS)
You should have received a paper form by now, or have access to the form online via the Portal.
The due date for lodging and paying BAS is 28 April 2018, unless you are lodging through an agent like ourselves, then you enjoy an extension for lodgment and payment by 26 May 2018.
Monthly Activity Statement for April
If you are required to report GST or PAYG Withholding on a monthly basis, your April Activity Statement will be due by the 21st May 2018.
Quarterly Super Guarantee Contributions
For businesses that have employees, please ensure that you make your super guarantee contributions before 28 April 2018. Previously you would lodge the contributions via the Small Business Superannuation Clearing House (SBSCH). From 26 February 2018 onwards the Clearing House is accessed via the ATO’s online services (Business Portal). If you need a hand with setting up a Business Portal, or would like us to handle this whole lodgement process on your behalf, please contact us.
Businesses that have access to Xero’s Auto Super need to ensure their payment is authorised a few business days before the due day, for the payment to be debited in time.
2018 FBT Return Lodgement
The FBT year has ended 31 March 2018. For those who require a return lodgement, your FBT Return is due by 21 May 2018. Please contact us for instructions on the lodgement of the return.
Need more information? Contact Us