Blog Page 2

What are business activity statements?

0
What are business activity statements
What are business activity statements

Businesses that are registered for GST are required to lodge a business activity statement (BAS). These assist in the reporting and payment of:

  • Goods and services tax (GST)
  • Pay as you go (PAYG) instalments
  • PAYG withholding tax
  • Other tax obligations

ATO will automatically send businesses who are registered for an ABN and GST a BAS when it is due for lodgement.

Businesses are given various options to lodge their BAS:

  • Online services for individuals and sole traders – which may be accessed through myGov
  • Business Portal – which is a secure website created by the ATO to assist businesses in managing their tax online
  • SBR-enabled software – which allows access to lodgement from different financial, accounting and payroll software and can be integrated to industry-specific business software.

How to find your lost super

0
How to find your lost super
How to find your lost super

Changing of name, address or job can mean that you lose track of some of your super. This means that there is money that belongs to you that is not currently in your super fund. Finding your super will collate your previous lost funds with your current account.

It is likely that your lost super is held by the ATO. Create an account on myGov and link it to the ATO and select β€˜Super’.

Once you have done this, you will be able to see the details of all of your past and current super accounts including any lost or forgotten ones. You will also be able to find funds which have been held by the ATO on your behalf. Further, you will be able to consolidate your super funds into a single fund.

Once you have found your lost super, remember to conduct research about which fund is providing you with the best returns before you choose which fund to consolidate with.

How collaboration can boost your business

0
How collaboration can boost your business
How collaboration can boost your business

Businesses can gain a lot from collaboration, regardless of the industry they are in. The following are some reasons why businesses should care about collaboration.

Get inspired

As a business, it is important to build a routine and figure out day-to-day operations. However, this might mean that you stop trying different techniques which could be more efficient. Collaboration could give you a fresh perspective and encourage new ideas and methods you could apply at the workplace.

Grow your network

Initiating collaboration will help you meet people who share common interests and goals. Building connections will benefit your business and could result in partnerships down the line.

Educate yourself

Collaboration opens up opportunities to learn from those outside your immediate circle. This can provide you with valuable information that may be helpful for your business which is not otherwise accessible to you.

Solve problems

Two heads are better than one. Therefore, with collaboration, you may be able to solve problems that were otherwise difficult to solve. This is because collaboration allows people with different expertise and backgrounds to contribute ideas.

Pin It on Pinterest

Share This