http://qualifiedbookkeeping.com.au/bookkeeping_blog Bookkeeping tips and news Thu, 09 Jul 2009 06:21:29 +0000 http://backend.userland.com/rss092 en In the current economic climate there has been a downward trend in earnings. The Tax Office is encouraging businesses to review their tax position to see if the PAYG instalments reflect your current financial position. Some business and investment taxpayers that use the instalment rate method for PAYG instalments could end ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=8 10 June 2009 The Tax Office has announced new measures to help businesses with an annual turnover of less than $2 million that are struggling to manage their tax debts in the current economic climate. In a speech to the Council of Small Business of Australia, Tax Commissioner Michael D’Ascenzo confirmed his ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=7 Collecting receivables: Many small businesses can improve their cash position simply by making certain that their billing, collections, and payables systems are operating as efficiently as possible. Small businesses do not have the luxury of large accounting and collection departments of big corporations so they often have their bookkeeping done by ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=6 Cash flow is the lifeblood of small businesses. Cash comes from sales, collections of account receivables, and the sale of assets. On the other hand, cash flows out to meet all expenses and debt obligations of the business. The goal of good cash flow management is to have enough ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=5 The Small Business and General Business Tax Break will be expanded for small businesses. Small businesses can claim a bonus 50 per cent tax deduction for eligible assets costing more than $1,000 acquired from 13 December 2008 until 31 December 2009, and installed ready for use by 31 December 2010. This ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=4 Where a travel agent receives a commission on travel that does not attract GST, then the commission is also GST-free. So when claiming commission for travel which includes both taxable and GST-free components the commission needs to be apportioned and GST charged only on that portion of the travel which ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=3 Many new business owners think it’s not going to take much of their time because they don’t have many transactions at first, so they’ll do their own bookkeeping to save the cost. In many cases one of two things happens … they end up with a shoebox full of receipts ... http://qualifiedbookkeeping.com.au/bookkeeping_blog/?p=2