Money Tree Tax & Financial Service Pty Ltd

Money Tree Tax & Financial Service Pty Ltd Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Money Tree Tax & Financial Service Pty Ltd, Accountant, 6/2-4 High Street, Bayswater.

Tax returns: individual/Sole trader/Company/Partnership/Family Trust/Self-Managed Super Fund/Fringe Benefit Tax/Set-up & Formation/Registration/Business Name/Domain name/Tax File Number (TFN)/Australian Business Number (ABN)/Goods & Services Tax GST/ ...

12/07/2021

New research has found that one in four small businesses loses up to $10,000 during tax time by misplacing receipts.

A new report conducted by Aussie fintech company Slyp and big four bank NAB surveyed over 300 businesses to identify the impact paper receipts have on SMEs come tax time.

According to the research, 25 per cent of those surveyed have lost up to $10,000 by simply misplacing receipts. A further 8 per cent of those said they’ve lost between $10,000 and $100,000.

A whopping 62 per cent of SMES surveyed said they lose paper receipts at tax time, with those that do collate them noting it’s the most time-consuming part of the tax process (42 per cent). A further 39 per cent said fact-checking paper receipts is the most time-consuming part.

“Australian small business owners are incredibly hard working and the data shows that, for many, paper receipts can add undue stress and complication to tax time,” Tania Motton, NAB executive for business banking, said.

“81.1 per cent of small businesses say the availability of digital receipts would improve their tax-time process.”

Commenting further, CEO and co-founder of Slyp Paul Weingarth said: “The tax-time process is time-consuming for small businesses and it’s clear that there’s a disconnect between the current manual process and the tools that small businesses are using.

“Three-quarters (75 per cent) of Australian small businesses say they’d like to change the way that they process paper receipts in the next financial year and more than two-thirds (69.6 per cent) say they’d be more inclined to purchase through a retailer that provided digital receipts.”

We can install and train you on Dext. It is a SaaS solution that automates the entire pre-accounting process.

It safely stores your receipts, invoices and bank statements in one single location - giving you a real-time view of your business finance. All you have to do is scan the document by taking a picture of it. The Dext text recognition algorithm removes duplicates, extracts data and converts it into an accounting entry.

The imported data can then be transferred to the accounting firm in a few simple clicks. This unique tool, also available via your mobile, centralises all documents and records in one place.

Don't waste any more time manually entering your invoice data. Dext extracts all the important information and translates it into accounting entries.

Integrated into the accounting ecosystem, Dext is your single point for collection and archiving - accessible 24 hours a day.

Save time, money and keep things simple for businesses.

25/06/2020

With less than a week away, many will be in the preparation stages of claiming deductions for the financial year.
But the Australian Taxation Office has sounded the alarm: don’t lodge your tax return too early.
Why?
All the information in your income statement is automatically included in your myTax by the ATO so if all these information are not yet reported, your agent will not be able to access the information.

The key dates for the end of this financial year:

25 June 2020
This is the new cut-off date for employers who need to lodge 2019-20 fringe benefits tax (FBT) return.

30 June 2020
This is the last day of the 2020 financial year.

1 July 2020
Tax season will last for three months, until 31 October 2020.

28 July 2020
Employers to make superannuation contributions to super fund for the April-June quarter.

31 July 2020
Pay-As-You-Go (PAYG) summaries are now a thing of the past – they will no longer be issued to employees. Instead, your income statement will be uploaded to myTax via Single Touch Payroll (STP) by the end of July, and is always available to you throughout the year through your ATO online account.
“It’s important to wait until your employer finalises your income statement to make it ‘tax ready’ before you or your agent lodge your tax return. Most employers have until 31 July to check their employee’s income statement and finalise it for the year
Employers that don’t report to ATO via STP will still have to provide a payment summary

7 September 2020
Superannuation guarantee amnesty need to apply by this date. This amnesty was introduced for employers who owe unpaid super to employees to come forward and pay it without incurring penalties.

31 October 2020
This is the last day you can lodge your tax return for the 2019-20 fiscal year. however, you can apply for an extension; and if you use a tax agent, you can actually lodge as late as May next year.

Have you worked from home
If you receive JobKeeper payments
If you receive JobSeeker payments
If you withdrew some of your superannuation early
If you run a business.
If you run a self-managed superannuation fund (SMSF)
If you're a landlord

30/03/2020

In the constantly changing business environment, we understand choosing the right accountant is an important decision for all businesses; with our extensive experience in bookkeeping, payroll, accounting and taxation, we will give you peace of mind. We strive to build a close working relationship with you and assist you in running and growing your business.

We will provide you with a written fixed priced Costs Agreement for our accounting package because we know it is important for a business being able to forecast their cash flow.

Tax Returns
Individual/Sole Trader
Company Partnership
Family Trust
Self-Managed Super Fund
Fringe Benefit Tax
Setup & Formation
Sole Trader Business
Partnership
Company
Family Trust
Self-Managed Super Fund
Registration

Business Name
Domain Name
Tax File Number (TFN)
Australian Business Number (ABN)
Good & Services Tax (GST)
Accounting Software
Software Implementation
In-house Training
Remote Support
Cloud Base – Xero, Saasu
Most Popular – Xero, MYOB
Bookkeeping
Accounts Payable
Accounts Receivable
Bank Reconciliation
Payroll Management
GST/BAS Compliance
WorkCover
ASIC Compliance
Annual Company Statement
Company Name/Address Changes
Officer and Member Details Update
Share and Unit Issues and Transfers

30/03/2020

Dear all

In the interests of personal and business safety for all of us during this crisis, we have switched to 100% remote operations. We are committed to continuing to assist you during this shift to the new way of working. Let’s hope we can all continue our business in some way during this time.

Firstly, look after yourself.

Many people will be feeling the effects of this uncertain time. If you are having trouble coping with this, please seek help before it becomes too big to deal with.

Your tax agent and/or financial advisor will be vital resources during this time. Please talk to us earlier rather than later for advice about upcoming financial obligations. Remember we may be stretched, so please be patient.

Business loans are available with no repayments for six months. Talk to your tax agent and banking institution to assess whether this will be useful for your business to help stay afloat for the foreseeable future.

The government assistance will be available for the March 2020 BAS. This includes a 100% credit of PAYG withholding, the ability to vary PAYG instalments to nil, deferral of payments and low interest payment plans. Any ATO credits applicable to you will be automatically applied upon lodgement of the March BAS, which will either reduce the amount payable or result in a refund. There will be more assistance for the June BAS and beyond.

Please book a time with us now for the March BAS.

Please note – even if you are unable to pay the March BAS, we will need to lodge the BAS as usual by the due date. Although assistance is available now to help keep businesses operating, at this stage we are acting on the assumption that ATO debts will be deferred but not waived, therefore there will come a time when the debts will be due. We will keep you updated if there any changes to the ATO information.

We are keeping up to date with Federal and State Government announcements, employment issues and cash flow planning options. We are here for questions relating to issues affecting business.

Take care

10/04/2019

Bookkeeping points for the sole traders
It is great being your own boss, but it's not without its fair share of responsibilities. One of which may not be your favourite pastime is keeping your books in check. If you run a one man band, here are a few tips to get the cost your bookkeeping down.
1. Keeping your receipts so you can claim the most return for your BAS and on tax return
2. Use electronic payments allowing you to track outgoing payements instead of relying soleley on paper receipts. It is much easier to reconcile via an account statement rather than your memory
3. Reconcile regularly. It becomes very difficult to balance the figures when there are piles of disorganised paperwork to sift through.
4. Separate your finances. To keep your personal transactions away from your buisness ones. This is a fundamental rule of running a sole trader business. Going through all your personal statements and trying to pick out what is business related is very time consuming and doesn't need to happen if you stick to it.

Stick to these rules and you will save a lot of money and keep yourself sane when it comes to BAS and tax time!

04/04/2019

Is cloud computing is the way of the future?

It is no longer a necessary to upgrade your PC hardware, install software, upgrade your software or be bound to using your software from PCs with a limited number of licences. You can work from anywhere at any time and your bookkeeper and accountant can have remote, real-time access to your file, all at the same time.

How can we connect with cloud accounting software Xero today?

Call us on 03 9894 1659 or 0468 885 388 to connect with cloud accounting software Xero for your business today. Alternatively drop in our office at G03, 55-65 Railway Road, Blackburn for a quick chat.

22/03/2019

Why should we choose Xero accounting Software for our bookkeeping?

We are fans of Xero cloud accounting software and We have chosen to specialise in this accounting software because we find it so much more user friendly that the other software packages we have used in the past. Its connectivity to other software packages makes it so much more competent as a total solution for business owners and bookkeeping practices alike.
It has a simple to use interface, daily bank feeds of the previous day’s transactions, the ability to attach PDF copies of your invoices to the transactions and an employee portal for leave, payslips and Payment Summaries

Address

6/2-4 High Street
Bayswater, VIC
3153

Opening Hours

Monday 9:30am - 5:30pm
Tuesday 9:30am - 5:30pm
Wednesday 9:30am - 5:30pm
Thursday 9:30am - 5:30pm
Friday 9:30am - 5:30pm

Telephone

+61397200385

Website

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