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Posts by Carmen Morris

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Single Touch Payroll–New Reporting Obligation for Employers

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Single Touch Payroll Single Touch Payroll (STP) is a government-initiated change in reporting obligations for all employers. The Australian Taxation Office has been developing this for some years and testing the system for the last year, and it is now in place and ready to receive employment data. The data to be reported is gross…

Tips for Getting Invoices Paid on Time

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Getting invoices paid on time has long been an issue in Australian small business. During 2017 the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) conducted an inquiry into payment times and has produced a report that shows just how badly Australia performs compared to other countries when we look at payment times. In fact,…

Recent Changes to Employee Entitlements

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Recent Changes to Employee Entitlements Recently the Fair Work Ombudsman announced changes for employee entitlements that affect a number of common awards, such as the Fast Food Award, Hospitality Award, Retail Award and Hair and Beauty Award and particularly affect casual workers. The changes are in force from 1 January 2018. The changes affect overtime…

Business is a marathon and most of society thinks it’s a sprint

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’Business is a marathon and most of society thinks it’s a sprint.’ Gary Vaynerchuck. We live in a world that is advancing and changing faster than at any other time in history. Technology is constantly evolving causing completely different industries to emerge. This is a world where people want everything on demand and expectations continue…

Do I Need a Bookkeeper?

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Most businesses starting out can’t afford the services of a professional and competent bookkeeper. Maybe you’re in the same boat, muddling through as best as you can. This is understandable because in their infancy most businesses need to be ruthless about minimising expenses to have a better chance of surviving those challenging early days. Bookkeeping…

Reconciling Deposits

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Customer deposits arrive in company bank accounts via many different payment methods. In this article I will explain different types of deposits, grouped by the recommended approach for processing or reconciling their receipts (or ‘payments’, as you might be used to calling them). Electronic Funds Transfer In Australia, EFT is the most common customer payment…

How to Improve Profits & Grow Your Business Bank Account Balance

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Do you look at your financial statements and bank account at the end of the month and wonder how you could do better? Maybe you’re thinking that you actually have a really good business. It has a reasonably high volume of sales and good staff, but the business bank account just doesn’t seem to be…

What is SuperStream and Why Do I Need to Use It?

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You may have heard of SuperStream, but do you really know what it is or how it works? You may not realise that it will actually benefit your business. Complying with SuperStream regulations is now mandatory for all Australian businesses, irrespective of size. The only exception applies to Directors of companies who pay their superannuation…
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