Hiring Accountants: Tips for Business Owners

Understanding PAYG Withholding and Your Obligations as an Employer

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As a business owner, it’s important that you pay all of your employees accurately and on time. Under Pay as you go (PAYG) withholding rules, you are obligated to collect tax payments from your employees and submit your records to the Australian Taxation Office (ATO). If you are starting a business, you can register for PAYG withholding through the Australian Government’s Business Portal. Keep Your Payment Records It’s important to keep accurate PAYG records so the Australian Taxation Office can ensure that you have paid the right amount of tax, your employees are receiving the pay they’re entitled to, and you are complying with government legislation.…

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Hiring the Right Accountant for Your Business

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For any business, every single cent counts. Paying close attention to your business expenditure is the first step to ensuring you are operating a successful business.  Finding qualified accountants is the way to go about this. Good accountants can ensure your business operates well within acceptable expenditures. They can be your source for advice on matters crucial to the finances of your business. Some even grow with the business to partner levels.…

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How to Qualify to Audit a Self-Managed Superannuation Fund

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A self-managed superannuation fund (SMSF) is established as a trust structure. The fund’s sole purpose is to manage retirement funds on behalf of its members, the benefits of which can also be passed to a member’s beneficiaries upon death. All SMSFs require an annual audit and only auditors who are Australian residents and who have registered with the Australian Securities and Investment Commission (ASIC) can be approved. Once registered, there are other requirements that must be met before they are eligible to be placed on the list of sanctioned SMSF auditors.…

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