All About Your Bookkeeping

Are you keeping an eye on your super? 🔍 Use our six-step super check to make sure your super is working for you!

1. Check your super statements
2. Make sure your fund has your TFN
3. Keep track of your super using myGov
4. Consider government contributions
5. Put extra money into your super
6. Nominate your super beneficiary

Find out more about managing your super at www.ato.gov.au/Individuals/Super/Growing-your-super/Keeping-track-of-your-super/Your-six-step-super-check/

Are you feeling overwhelmed with your bookkeeping? Or would you just like a bit of extra free time?
My books have just opened for the first time in a while now. If you need a helping hand, give me a call on 0410 473 760 or drop an email to [email protected]

After having closed books for some time now, I finally have some time to open my books back up to a new client or two. If you need a hand with anything from data entry to reconciliation to reviews and lodging BAS’ give me a call or email. No job too small. I love to help people get on top of their bookkeeping and free up their time!

Is your bookkeeping becoming overwhelming?
Is it time to hire someone to help?

Call me (Sandy) now to discuss how I can help - 0410 473 760.
No job too big or small.
Reasonable rates.
References can be provided upon request.

Just some tips for those of you who haven’t done their tax yet or to get you on the right track for this year ....

Running your own small business? Remember our three top tips for claiming your expenses at tax time:
✔️ The expense must have been for your business – not for private use.
✔️ If the expense is a mix of business and private use, you can only claim the business-related portion.
✔️ You must have records to prove the expense and show how you worked out your claim.

Want to know more about what you can claim this tax time? Check out our guide for small businesses at www.ato.gov.au/Business/Income-and-deductions-for-business/Deductions

Some more handy tips with end of financial year nearly here again 😊

Businesses: If you're not sure what you can claim as a business expense, use our handy hints to help get it right:
• The expense must have been for your business.
• If the expense is also for private use, you can only claim the portion that relates to your business.
• You must have records to prove your claims.

For more helpful tips on claiming business expenses, visit www.ato.gov.au/Newsroom/smallbusiness/General/Work-out-what-business-expenses-you-can-claim

Here’s some great deductions for those of you that work from home.

Tax tip: If you’re required to work from home, you may be able to claim a portion of your home office expenses on your tax return!

This could include deductions for:
🖨️ Office equipment
📲 Work-related phone calls
💻 Internet access charges
💡 Lighting, heating and cooling
🔧 Furniture repairs
✨ Cleaning

Check what you can claim at www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/home-office-expenses

Here’s some good info on a regular deduction ..... be careful with what you claim!

🧦 Make sure your clothing and laundry claims don’t land you in hot water this tax time!

Many Aussies have legitimate work-related deductions – for uniforms, occupations-specific or protective clothing – but we’re looking to iron out false claims 🕵️

Get the details and check your eligibility to claim at www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/clothing,-laundry-and-dry-cleaning-expenses

Check your ABN especially if you haven’t used it for a while.

When was the last time you checked your ABN?

Inactive ABNs may be cancelled to ensure we have the right information on the Australian Business Register. If you haven’t used your ABN for a while (either lodging activity statements or business returns), or if your business situation has changed, the ABR Registrar may cancel your ABN.

To find out more, visit www.abr.gov.au/Media-centre/Featured-news/Business,-Super-funds-and-charities/Bulk-cancellations-to-occur-for-inactive-ABNs/

With single touch payroll compulsory from 1 July this may be helpful for those with less than 4 employees to stay compliant.

Employers: Have four or fewer employees?

If you aren’t already using Single Touch Payroll enabled software, a range of no-cost and low-cost solutions are available for you.

Check out our register at www.ato.gov.au/business/single-touch-payroll/in-detail/low-cost-single-touch-payroll-solutions