No doubt you will have heard about one of the many data breaches recently as a result of cyber attacks. These unfortunate events are shining a light on how important personal information is. It may be time to review your cyber security practices and give them a spring clean with these simple steps. 1. Update your devices and applications. Regular updates are critical to maintaining secure systems. Cyber criminals hack devices by using known weaknesses in systems or apps. Check your devices for updates and turn on automatic updates to apply future updates straight away when charging and con ..read more

Director of an Australian company? You need to apply for your Director ID by 30 November 2022. The simplest way? Apply by using the myGovID app to log in to ABRS online. Once logged in, you need to verify your identity with information they have on record. Commonly used documents include: details of the bank account your tax refunds / payments are made and received ATO notice of assessment. You may need to contact us to request this information if we are your tax agent. Who doesn’t need a Director ID? You don’t need a director ID if you’re running a business as either a sol ..read more

Tim and Stephen from The Emploi Podcast sit down to chat with Simple Solutions Accounting founder and director Gillian Nathan about her journey from South Africa to launching her own tax practice in Australia and the challenge of balancing home and family life with running a successful practice… click below to listen, please note you need a Spotify account to listen, you can easily create one free with email if you don’t already have one, just click “signup” top right after clicking the link below. Listen to the podcast For tips and tricks throughout the year and other useful guides, ple ..read more

With the popularity of purchasing online, it’s important for businesses to have an online presence. Small Business Development Corporation (SBDC) are offering a workshop tomorrow that explores the process of creating and running a successful online shop… this course is offered at a reduced cost thanks to substantial funding from the Government of Western Australia. Tickets are $20 and they you get access to the live workshop, a recording of the workshop which you can access for up to seven days post event and copies of any resources shared with attendees. There are also other great workshops ..read more

Questions raised at the ‘An update from the ATO’ Open Forum Question topic – Australian Business Registry Service  Question – Is there a process to cancel a Director ID, either due to non-use, death, or loss of capacity? Response – No, the director ID is just a piece of data that is associated with that individual forever. When an officeholder dies the company will be responsible for ceasing that individual’s role on the company and (if applicable) appointing someone new. If the deceased individual is a sole director, a legal personal representative will be acting on their behal ..read more

What changes are coming? Removal of the $450 superannuation contributions cap Increase of the Superannuation Guarantee to 10.5% Update to the indexation of Study or Training Loan Supports (STSL) So, what do these payroll changes mean for my business?  How much these changes affect you will depend on the unique nature of your business and employees. However, the updates to superannuation likely mean you’ll need to set aside a little more each quarter, accounting for an extra 0.5% on ordinary earnings for those employees who regularly receive super and to start paying 10.5% superannuation ..read more

Doing your 2022 Taxes with Simple Solutions Accounting Services… From 1 to 14 July 2022 we are going to be focused on STP annual reconciliations and finalisations for clients that we process payroll for, as well as lodgement of quarterly Super. As a result we will not consider lodging individual tax returns prior to Monday 18 July 2022 – and this will only be considered if you don’t have any income from managed funds or waiting on trading platform investment packs or annual rental statements for investment properties. If your are a Sole Trader (ie you have an ABN associated with your ..read more

Doing your 2022 Taxes with Simple Solutions Accounting Services… From 1 to 14 July 2022 we are going to be focused on STP annual reconciliations and finalisations for clients that we process payroll for, as well as lodgement of quarterly Super. As a result we will not consider lodging individual tax returns prior to Monday 18 July 2022 – and this will only be considered if you don’t have any income from managed funds or waiting on trading platform investment packs or annual rental statements for investment properties. On or around 18 July 2022 we will be downloading your pre-fill rep ..read more

Super Contributions If you want to have a super contribution counted in the 2021–22 financial year, you need to ensure your super fund receives it by 30 June 2022. The key date for making contributions is not when you make the payment, but when it’s received by your super fund. Electronic fund transfers and BPAY can take a number of days to appear in your super account. The concessional contribution limit for 2021–22 is $27,500, and this includes contributions your employer makes on your behalf (including super guarantee and salary sacrifice). You may be eligible to contribute more than your n ..read more

Simple Solutions Accounting Services Free Guide to Minimising your Personal Tax You have the right to arrange your financial affairs in a way that minimises your tax… tax planning can sometimes be interpreted as trying to avoid paying tax, but this is definitely not the case. As an individual and as a business, you have the right to arrange your financial affairs in a way that minimises your tax. This is called tax planning or tax-effective investing. I’ve put together some tips on how to get your tax planning in order before the end of the 2022 financial year, click here to get your ..read more