Accounting

Victorian Business Growth Fund

July 2, 2019 | Accounting, Business, Business Advisory

The Victorian State Government has announced the establishment of a $250 million Victorian Business Growth Fund for small and medium enterprises to help them access capital and create jobs to grow the Victorian economy.

Sometimes it pays to listen to your accountant -not paying GST can lead to jail

June 29, 2019 | Accounting, BAS/ Bookkeeping, Tax

A warning to all: https://www.theage.com.au/national/victoria/melbourne-socialite-swaps-her-designer-wardrobe-for-prison-greens-20190627-p521w4.html

Single Touch Payroll is here

June 28, 2019 | Accounting, BAS/ Bookkeeping, Payroll, Tax

Single Touch Payroll changes the way in which you pay your employees and requires you to lodge through compliant software. From the 1st of July 2019 this will affect every business and if you are unsure or are not yet compliant please call our offices on 03 9846 6542 or email info@townshendassociates.com

Taxable payments annual report (TPAR) – Cleaners and Couriers

October 15, 2018 | Accounting, BAS/ Bookkeeping, Contractors, Individual tax

From the ATO: Cleaners and Couriers will need to lodge a Taxable payments annual report (TPAR) each year on contractors in their business. For this tax year (2019) the return will be due on the 29th of August 2019. If this affects you please ensure you keep the following information as a minimum requirement, the […]

ATO: Common GST mistakes

October 5, 2018 | Accounting, BAS/ Bookkeeping

From the ATO: When reporting GST: make sure the timing is correct, and report for the correct tax period check the figures to avoid accidental miscalculations and simple transcription errors ensure your clients can substantiate their claims for GST credits check there is a creditable purpose, so your clients do not claim GST for goods […]