Category Archives: Bookkeeping

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Meal entertainment: when does GST apply?

The area of “meal entertainment” is an absolute minefield for accounting professionals like us. It can be very difficult to know when an expense incurred by a client relating to food or drink should be recorded with GST or not. Luckily there is a resource out there via the ATO that brings some clarity to […]

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Netflix Tax – A Bookkeeper’s View (from the Trenches)

My last blog was all about the new “Netflix Tax” and was really just an informational blog outlining what, how and when etc. In this blog, I want to look at the tax from a bookkeeper’s perspective and provide a real “from the trenches” viewpoint. All is not what it seems with the Netflix Tax!

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Registered for GST? What you need to know about the Netflix Tax.

For some time now, larger IT companies have been charging GST to their Australian consumers. Examples of these are Google, Adobe and Linkedin. They are doing this because of a new law which began formally on 1 July 2017. This new law known colloquially as the “Netflix Tax”, requires all international companies with an annual GST turnover […]

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Google has entered the Australian GST system

Something is changing in Google Land. From 1 November 2016, most of their products sold to Australian businesses will include GST.

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How to help us understand your receipts

Sometimes we get receipts from clients that don’t make any sense or it is unclear how the thing purchased relates to the business. When this happens, it is very difficult for us to allocate the purchase accurately (or at all).

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On-charging merchant surcharges to your clients – new rules!

If you use your bank’s credit and debit card merchant facilities to accept payment from your clients and you on-charge the bank’s fees for use of these facilities, you need to take note of this blog!

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$20K instant asset write-off – be careful!

The 2016 Budget has seen the Government extend the $20K Instant Asset Write-off ($20K IAW) to businesses with a $10 million or less gross turnover from 1st July 2016 (because apparently having a $10M turnover makes you a small business now – what the?). Well that’s nice and all, but in my opinion, this initiative […]

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Which documents do I have to provide to e-BAS Accounts?

At it’s most basic, bookkeeping involves receiving data in the form of invoices etc. and entering this data into an accounting system. So, if you are one of our clients, before we can start doing your accounts, we will send you a request for a list of documents. The type of document we request from […]

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How do I share my documents with e-BAS Accounts?

There are several tools you can use that will allow you to share your documents with us. Your location (and ours) isn’t a problem as most tools will allow you to share your data remotely. Here is a list of tools you can use:

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Why do I have to sign an engagement letter?

It is customary across many professional industries to use engagement letters or client agreements when on-boarding a new client. They are used by most accounting professionals and are considered best practice. An engagement letter protects both the consultant and the client in the event anything should go awry during the engagement. We certainly use engagement […]

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