Superstream update – is your business prepared?
The superstream changes start from 1 July 2014 for employers with 20 or more employees, and from 1 July 2015 for employers with fewer than 20 employees. Large employers have until 30 June 2015 to start...
View ArticleCloud-based accounting takes off – are you on board?
A recent study by Xero, a cloud based accounting software provider, showed 14 percent of small businesses in Australia are already using a cloud-based accounting package. Also, the study showed almost...
View ArticleFinancial System Inquiry – what it means for SMSF property investment
The Financial System Inquiry recently released its recommendations. Headed by Mr David Murray, the panel aims to lay out a blueprint for the financial system over the next decade. Previous inquiries...
View Article5 things for business owners to review before 2015
Now the end of the calendar year is fast approaching, and many businesses shut down or partially close over the Christmas and New Year period, it is a good time for business owners to focus on areas...
View ArticleOnline job management software WorkflowMax
Many businesses have successfully made the transition to cloud accounting with Xero, the most popular cloud-based accounting system. Another cloud solution that is being widely adopted by service...
View ArticleMedicare levy, Medicare levy surcharge, private health insurance rebate, and...
Over the past year many people have been turning to Billings and Ellis for expert advice on the confusing interaction between the Medicare levy, the Medicare levy surcharge, private health insurance...
View ArticleEmployee or contractor – where do you really stand?
One of the most commonly-asked questions in our discussions with professional consultants and small business owners is the definition of employees v. contractors from a tax law perspective. This...
View ArticleWhat does the May 2015 budget mean for you and your business?
The big news on 12 May was the government handing down their second budget. There have been some significant changes announced in the budget and it’s important to understand how these changes will...
View ArticlePOS and Xero integration for small business
Point-of-sale (POS and also EFTPOS) software integration with Xero cloud accounting can now bring the benefits of a complete end-to-end accounting system to small businesses including retail stores,...
View ArticleCloud SMSF software that’s all Class
Billings+Ellis is using Class software exclusively for handling the superannuation and self-managed superannuation funds of the firm’s clients. What do we like about Class for SMSFs? Class allows us to...
View ArticleVend integration with Xero ideal for typical retailers
Vend is suitable for many different kinds of retail trading situations where a modern POS system system with powerful features is needed. Vend integration with Xero provides a seamless, end-to-end POS...
View ArticleRepairs and improvements on properties held by SMSFs
What happens when a property held by an SMSF needs repairs? Is it possible to use borrowed funds for renovations? Geoff Morris explains the rules… Self-managed Superannuation Funds have always been...
View ArticleFederal Budget 2016 – changes affecting small business, tax, super
The May 2016 Federal Budget announcement has delivered changes that will affect many people of all ages and stages in life. Some changes affect small business owners, and changes to taxation and...
View ArticleReceipt Bank works like magic for entering bills and receipts
How much time do you spend entering data from supplier bills into Xero? How about sorting those crumpled receipts for expenses? If you’ve got better things to do with your time than sifting through...
View ArticleAre airport lounge club membership fees tax deductible?
Belonging to The Qantas Club or Virgin Australia Lounge can provide business travellers with somewhere comfortable and convenient to relax, revitalise, or work productively whilst remaining inside the...
View ArticleSome good news for small business in Federal Budget 2017
The Federal Budget announced on 9 May 2017 delivered no sweeping changes to the small business landscape, and increased compliance is something that most business owners have become used to. However,...
View ArticleBudget 2017 changes for SMSF and property investors
There were no major superannuation measures in the May 2017 Budget, with slated super reforms commencing 1 July 2017. However, there are now changes to depreciation and deductibility which many...
View ArticleBenefits for homebuyers and seniors in 2017-2018 Budget
There are no changes to personal income tax rates and thresholds in the 2017-2018 Budget, and there will be relief from the 2% Budget deficit levy, as anticipated, from 30 June 2017. On the other hand,...
View ArticleSuperannuation changes effective 1 July 2017
There are a number of changes to superannuation starting on 1 July 2017 that are summarised below however, the key question is to decide what has to be done before 1 July 2017. Contributions The first...
View ArticleAre you eligible to claim depreciation deductions?
If you’re the owner of an income producing property, then you are eligible to claim tax deductions for a number of expenses involved in holding the property. Most investors are aware of some of the...
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