Blog

Suntax 2024 – 25 Federal Budget Insights

The promise of cost-of-living relief has been delivered via the budget on Tuesday as Treasurer Jim Chalmers announced a second consecutive surplus with this years expected $9.3 billion. This is the first time in almost 2 decades two consecutive surplus budgets have been delivered. Starting July 1, 2024, the Victorian Government has implemented a set […]

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Self Managed Superannuation Funds Corporate VS Individual Trustee

FREE DOWNLOAD! Self Managed Superannuation Funds Corporate VS Individual Trustee Do you want to choose how you invest and strategically manage your retirement funds? There are a number of benefits of owning a Self-Managed Superannuation Fund (SMSF). This all begins with selecting the right type of trustee to fit your circumstances. When you establish a […]

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Introducing The Xero Beautiful Business Fund.

Xero announces Beautiful Business Fund to boost future aspirations of small business Designed to celebrate small businesses, empower success and accelerate their growth. The Xero Beautiful Business Fund is offering NZ$750,000 in funding to Xero small business customers in Australia, New Zealand, Singapore, South Africa, the United States, Canada and the United Kingdom. There are 4 categories […]

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Taxable Payments Annual Report (TPAR)

It’s time to process your Taxable Payment Annual Report (TPAR) If your Business employs contractors and is in the below list of industries, you must lodge your Taxable Payment Annual Report (TPAR) by the 28th of August 2023. Businesses directly involved in the following services need to lodge TPARs: Building and Construction Services Cleaning Services Courier or Road […]

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Xero is retiring the old versions of reports

Xero has two versions of their reports an old and a new version. On 31st July 2023 Xero are switching to the new reports only. Please note NO data will be lost! Reporting is one of Xero’s most loved products and a core part of the Xero platform. All software has a lifecycle, the older it becomes the more […]

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It’s time to process your EOFY Payroll using Single Touch Payroll (STP).

It’s time to process your EOFY Payroll using Single Touch Payroll (STP). Employees now access their Income Statements (previously known as Payment Summary or Group Certificate) through their personal MyGov account.  This happens after you have completed your Single Touch Payroll processing.To finalise your Single Touch Payroll in Xero you need to complete your End of year Employer Reporting.  There are […]

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Did you Work From Home during the Past Financial Year?

  If you have worked from home in the last financial year, there have been changes to the way you can claim your Working From Home (WFH) tax deductions. From 01 July 2022 – 28 February 2023 – The ATO will accept a record of the number of hours worked from home through a representative […]

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Suntax Seminar

Please join us for a Suntax Seminar. Date: Wednesday 24th May 2023 Time: 6:00PM Location: Club Sunbury, 49 Riddell Rd, Sunbury VIC 3429 Our awesome team will demonstrate how you can  Advance Your Business with Xero covering the below content. How to Improve your Cashflow Automate your debt collection process with Invoice Reminders Accept Payments online 24/7 by attaching a “PAY NOW” button […]

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New Director ID – Calling All Directors

If you are a director or plan to become a director in the future, regulation updates recently announced by the ATO affect you. From November 1st 2021 the Australian Business Registry Services (ARBS) is introducing the Director Identification Number (Director ID). A Director ID is a 15 Digit unique identifier that will be issued to a […]

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Victorian COVID Construction Grant

Following on from the recent construction shutdown, the Victorian Government has released a new grant to assist those construction businesses unable to attend worksites due to lockdown restrictions imposed from 21 September to 4 October 2021. The grant amount is determined on payroll size: $2000 for non-employing businesses $2800 for employing businesses with an annual […]

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Commercial Tenancy Rent Relief Scheme

Commercial Tenancy Rent Relief Scheme – TENANTS The Victorian Government has issued new regulations to offer further relief for commercial tenants struggling with rent payments. The scheme will help small and medium-sized businesses with an annual turnover of less than $50 million that have experienced a loss in turnover of more than 30 per cent […]

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COVID Hardship Grant

In good news for Victorian Businesses, the Victorian Government has released its Small Business COVID Hardship Fund to assist small and medium businesses in need.  This fund is for those businesses who didn’t qualify for the Business Cost Assistance Program funding.  For this one, you can forget those ANZIC codes! In an interesting turn of […]

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