Tips for Setting Up a Payroll System
Posted on:
10 December 2015
No matter the amount of employees that your business has, it is essential that you set up a payroll system once you hire the first pool of employees. A payroll system is one of the most important aspects of accounting, and it is also essential to the growth of any business. You need to make sure that your employees are paid accurately and in good time to ensure that they will work in a productive manner and to meet legal requirements.
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Why Outsourcing Payroll is Good for Business
Posted on:
2 December 2015
Processing payroll is one of the necessary evils of the business world. Having a dedicated system in place is crucial in order to meet the legal obligations of the Australian Taxation Office (ATO) and ensure your employees are paid correctly and on time. While it may seem like an unnecessary expense, the benefits of outsourcing payroll far outweigh the benefits of in-house processing.
Outsourcing Saves Time
The labour costs of processing payroll often exceed outsourcing costs.
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Why Workers Need To Set Up SMSFs
Posted on:
1 December 2015
Failing to plan is planning to fail. There comes a time in life where an individual grows old and can no longer keep up with the workforce. When this happens, you need to be able to sustain yourself and your family financially. Apart from ordinary pension schemes, there are other ways to maximise your future wealth. Over time, self-managed superfunds have proved to be an effective retirement solution. If you ever plan on retiring someday, below are some reasons why you should consider SMSFs.
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Advice to keep in mind when completing your business activity statements
Posted on:
25 November 2015
Completing your business activity statement (BAS) can be an extremely stressful and overwhelming process. This document will be issued to you on either a monthly or quarterly basis if you are self-employed in Australia.
The main purpose of the document is to relay your tax situation to the Australian Taxation Office so they can ensure that the proper taxes are being paid as well as providing information that will help the government predict how much tax income they can expect for the year.
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