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News, views and real perspectives.

Single Touch Payroll Update – 13 February 2018

Written by:
Australian Bookkeepers Association

Background Single Touch Payroll will streamline payroll reporting for employers. Employers with 20 or more employees will need to use Single Touch Payroll-enabled software to report to the ATO from 1 July 2018. It will align reporting obligations to existing payroll process – no matter how employee pay arrangements are structured. In August 2017, The Minister for Revenue and Financial Services announced changes to super fund reporting. Funds will report…

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6 Tips Towards Work Life Balance for Start Ups

Written by:
Sophie Andrews

There is a strong temptation for people building start-ups to throw themselves whole-heartedly into their business. At first thought, it seems important to commit all free time and resources to the good of the business, and surely dividends will follow, right? Not really. By being too single-minded about it, what you are looking at is physical, emotional and creative exhaustion. In order to succeed, it is important that a full…

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The Tax Reforms Being Mooted from Each Side of Politics

Written by:
Australian Bookkeepers Association

Due to the crushing nature of the Federal Government’s Budget deficit ($37 billion) and dwindling commodity prices, there has been much recent talk by both the Government and Opposition of reining in tax concessions – chiefly in the ‘big-ticket’ areas of Superannuation, Negative Gearing, and Capital Gains Tax. Although the Budget is not until May, and the Federal Election is not likely until the second half of the year, some significant changes…

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Rising above the cloud: Shaping a bookkeeping business in a software world

Written by:
Australian Bookkeepers Association

Introduction The recent ABN Conference yielded some common perspectives on the future of the bookkeeping profession. Chief among them was that the entire profession is going through the biggest shake-up since the (then) government mandated small businesses to take-up accounting software for recording GST. The current ‘shake-up’ also comes in the form of software technology: cloud accounting. The effects of cloud accounting software on the bookkeeping profession To date, around…

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