Blog
-
29Sep2020
Dealing with tax debt during Covid 19
Covid 19 has left many businesses, large and small, facing tax debts. Taxes that are due to be paid to the Australian Tax Office that they simply can not pay in full – in time. The first thing is – DON’T PANIC. The ATO is not interested in punishment. The ATO is surprisingly helpful and […]
- Comments: 0
- Posted by: user
-
31Aug2020
Bookkeeping Tips for Small Business
….and why you need a bookkeeper. Keep records for all transactions and keep them organised and comprehensible and up to date. Never think “I will do it later”. Because you won’t. Allocate a set time every single week for bookkeeping. If you don’t, you will get more and more behind and more and more disorganised. […]
- Tags: Bookkeeping, Small business
- Comments: 0
- Posted by: user
-
30Jul2020
Jobkeeper 2
This is how Jobkeeper works at the moment. Eligible employers, sole traders and eligible business participants can enrol for Jobkeeper. You are assessing your own eligibility. At the moment the government will take your word for it. BUT!!!! Single Touch Payroll and all the other ways the Australian Tax Office have of keeping tabs means [...]- Comments: 0
- Posted by: user
-
28Jun2020
COVID 19 home office deductions for tax time
To start off with, there are some rules about deductions. You must have spent the money on something that is related to you earning money. So if you got reimbursed by your work or you were given a work item or equipment by your employer – THEN YOU CAN’T CLAIM IT! I put that in […]
- Comments: 0
- Posted by: user
-
08Jun2020
MyGovID and RAM
You need to able to prove your identity before you can use any Australian Taxation Office web portal. For businesses, that ID is called MyGovID. You then need to be grant yourself access to your business in Relationship Access Manager (or RAM). Only then can you start using ATO portals such as the Business Portal. […]
- Comments: 0
- Posted by: user
-
02May2020
Help for businesses during the COVID 19 emergency
What help is the Commonwealth of Australia providing for businesses to ensure they survive for now and prosper later? Quite a lot actually. So much that it can be daunting to try and find out exactly what is on offer. You can see an overview of what is available for businesses HERE. https://www.ato.gov.au/General/COVID-19/Support-for-businesses-and-employers/ Jobkeeper […]
- Comments: 0
- Posted by: user
-
28Mar2020
We Can Help You Survive COVID 19
Wealthpath Accountants have put in place methods and procedures to ensure the timely and effective delivery of services to all of our clients while safeguarding the health and well being of staff and customers. We are committed to supporting our people, our clients and our community in these challenging times. We are absolutely committed to […]
- Comments: 0
- Posted by: user
-
05Nov2019
Profitability and improving your cash flow
Be careful of discounting Know how much it costs you to provide something before you discount it. A lot of businesses have no real idea how much something costs them. Remember, the cost is the sum total of ALL the costs to you (it doesn’t mater if its a “thing” or a service). How much […]
- Tags: cash flow, improving your cash flow, Profitability, Small business
- Comments: 0
- Posted by: user
-
07Oct2019
Our Fountain Gate Kiosk
Many people would know that Wealthpath Accountants have an information kiosk every year at Fountain Gate Shopping Centre. Starting from July and finishing in October. At the kiosk we offer free, no obligation help and explain the services we can provide to make your business run smoothly and more efficiently – so our clients can […]
- Comments: 0
- Posted by: user
-
05Sep2019
5 Tips on how to use technology to save on business costs
(And a concrete example) 1 Get rid of your landline and go mobile phones and VOIP (internet telephony).Do some research and you will be amazed at how much money this can save you. 2 Investigate technology. There are some new technologies that can be major cost savers for your particular industry or service. You just […]
- Comments: 0
- Posted by: user