Single Touch Payroll has been designed to streamline employer reporting to government agencies, an initiative implemented by the Australian Government. With STP, employers have the ability to report employee payroll information to the ATO with STP-enabled software.
Pay As You Go (PAYG) instalments is a taxation system used by the Australian Taxation Office (ATO) to help businesses manage their tax obligations. For businesses to navigate the complexities of the Aussie tax system and ensure correct compliance, it’s crucial to understand Pay As You Go instalments.
Whether you’re interested in a career in bookkeeping, or you’re doing a deep dive into the reasons, benefits, and traits to look out for when hiring a bookkeeper for your business, there are a number of fundamentals to consider.
Many small and medium-sized businesses go along from day to day and year to year without professional bookkeeping. If their financials are very straightforward, and the staff is small – and they’ve never been audited – then the need can seem rather remote.
There is an old saying in business that cash is king. What is meant by this is a heathy cashflow is necessary for a business to survive and prosper. This is the reason that cashflow is such an important topic for a small business owner.