More than a Bookkeeper

19/09/2023

The ATO is cracking down on tax and super debt, shifting gears from pandemic leniency to "firmer actions" for debt collection. Debt has soared by 89% in 4 years, hitting a staggering $50.2B, with small businesses owing $33B!

Deputy Commissioner Vivek Chaudhary warns that the era of using the ATO as a low-interest loan is OVER. With an $82M budget, the ATO is setting its sights on businesses with debts over $100K or older than 2 years. Expect limited concessions and shorter time-bound payment plans.

A little FYI ..... the ATO filed 100 wind-up notices in July alone! With interest rates climbing to 11.15% for Q4 2023, the highest since the GFC, now's the time for action.

To all my accounting friends, this is the perfect time for you to be talking to your clients about tax obligation management, budgeting, cash flows, and KPI reporting and to basically help them navigate these changing times especially as so many of them just think "it's a given" that they can get an extension or payment arrangement.

Read more in the Accountants Daily article
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https://www.accountantsdaily.com.au/regulation/19024-ato-takes-gloves-off-to-chase-down-4bn-in-long-term-debt
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09/08/2023

⛵ ⛈️

24/06/2023

Simplicity is the ultimate goal 👌

19/06/2023

HOW STRONG IS YOUR PASSWORD??

Hackers and scammers can use very sophisticated technology to crack your password, sometimes in as many as a few seconds.

It is vital to make your password as strong as possible to ensure that hackers do not gain access to your accounts.

By using a combination of numbers, upper and lower case letters and symbols and using as many characters as you can, it will lower the likelihood of your account being forced into.

Thanks to Hive Systems for providing the Table: https://www.hivesystems.io/password

06/06/2023

💯 🎯

14/05/2023

Now exhale 🙏 ♥️

05/03/2023

💪 ⚛️

01/03/2023

🍵 ☕

19/02/2023

Even when you find yourself in between a rock and a hard place, you can still create something beautiful. 🌷 🌱

24/01/2023

🌱 ☀️

30/11/2022

Time us up Directors

If you haven't yet applied for your director ID, you're in breach of the rules.
However you've been given a reprieve - apply by 14th December 2022 to avoid being fined (up to $13K).

It's free to apply and you will only ever need one - regardless of how many businesses you are a director of.

25/11/2022

If you are a Director of a Company time is running out

Calling all directors: We’re 5 days out from the deadline to apply for director ID! ⏱️ If you haven’t applied yet, it’s important to get started now to allow yourself enough time to gather your documents and set up myGovID (if you haven’t already).

Join more than 1.4m directors already on board! For more info and to apply, visit www.abrs.gov.au/director-identification-number