Tag: PAYGSubscribe 3 Posts
Whether you are a start-up or an established small business, keeping proper records is very important not only for calculating your income tax and BAS payments, but also for determining the financial health of your business. I’ve outlined 5 basic steps you need to do to start preparing for your business’ end of financial year (EOFY).
If you’re planning to start a business or about to start one, welcome to the world of business taxes. Here in this world, your new best friends will be called GST, BAS and PAYG.
The big race to provide your employees their PAYG Payment Summaries is about to begin. Here are three ways you can simply your payroll process this month to ensure you provide the PAYG Payment Summaries to your employees by the 14 July deadline and the PAYG Payment Summary Statement to the tax office by 14 August. Ensure Staff Details are all up to date. Accountants and bookkeepers assist and prepare a number of PAYG Payment Summaries on clients accounting systems each year. One of the bug bears is that employee’s details have not all be entered into the payroll system. Ensure you have the following for your employees entered into your system: