Poole Group » Startup

Paying a tradie, cleaner or courier contractor?

Shannon Cook — Thu, 10 Oct 2019 05:53:11 +0000

If you’ve paid a tradie, cleaner or courier contractor to help in the last year, you might need to lodge a Taxable Payments Annual Report (TPAR). You may need to lodge a TPAR if your business: is primarily in the building and construction industry and paid contractors to provide building and construction services – including

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STP Deadline is here – 30th September

Shannon Cook — Tue, 24 Sep 2019 00:27:46 +0000

If you haven’t already, it is time to move to Single Touch Payroll now! Single Touch Payroll (STP) reporting is here, and you need make the move by 30 September 2019. STP changes the way you report your employees’ tax and super information to us. You now need to report salaries and wages, pay as you

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Payment Summaries are now called an Income Statement

Shannon Cook — Mon, 08 Jul 2019 05:58:05 +0000

Single Touch Payroll – Could it be the biggest adjustment to Australian Businesses since Good & Services Tax (GST)? The Australian Taxation Office recently introduced Single Touch Payroll (STP), this is a new legal requirement to report salaries and wages, PAYG withholding and superannuation via STP-enabled software to the ATO each time you are paid

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Future-proofing a business: 7 ways you can avoid the Uber phenomenon

Shannon Cook — Thu, 23 May 2019 14:58:45 +0000

If you once ran a thriving taxi company that started to fade when Uber burst on the scene or a hotel that suffered from the impact of Airbnb, you know what the word “disruption” means. You probably don’t do either of those things but could the business you do run be equally at risk from

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Tax Planning Tips & End of Year Review

Kerri Welsh — Wed, 22 May 2019 05:11:14 +0000

Can you believe 30th June 2019 is almost here? We suggest for businesses to be ready for the end of financial year, below are a few standard business items for you to look at -: For businesses for eligible plant purchased during 2018/19 you will be eligible to claim a 100% immediate write-off for businesses

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Tax Essentials for Small Businesses

Cara Tennant — Wed, 17 Apr 2019 06:03:01 +0000

A business is classified as a small business entity where the aggregated annual turnover is less than $10 million. The aggregated turnover is based on the ordinary income earned in the course of running the business (annual turnover) plus the annual turnover of any business connected or affiliated with you. When starting a small business,

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Single Touch Payroll – Cost effective options & How Poole Group can help you!

Kerri Welsh — Fri, 12 Apr 2019 01:19:43 +0000

SINGLE TOUCH PAYROLL: Single Touch Payroll (STP) is a new legal requirement to report salaries and wages, PAYG withholding and superannuation via STP-enabled software to the ATO each time you pay your employees. With the correct software all data is sent as processed in real time. By implementing this system the ATO will have wider

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Single Touch Payroll – Are you ready?

Shannon Cook — Thu, 21 Feb 2019 05:35:37 +0000

Single Touch Payroll – The Australian Taxation Office has extended the STP obligations to all employers. Parliament has approved legislation to extend Single Touch Payroll (STP) reporting to include all small employers (fewer than 20 employees) from 1 July 2019. Don’t know what STP is? STP is a way of sending tax and super information

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Franking Credits Proposal

Kirk Jarrott — Mon, 11 Feb 2019 23:45:04 +0000

Hot Election Topic explained – Franking Credits Proposal What is the proposal? The House of Representatives Standing Committee on economics has announced an inquiry in the implications of removing refundable franking credits. The inquiry is going to report on the use of franking credits and who franking credits support and who would be impacted if

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Merry Christmas – Staff Bonuses

Kerri Welsh — Wed, 05 Dec 2018 03:17:49 +0000

Merry Christmas – Staff Bonuses If you are considering paying your staff a bonus before Christmas keep in mind tax on the bonus will need to be calculated manually. If you allow your software to calculate the tax it won’t be able to differentiate between a bonus and weekly wage, hence the need to calculate

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