Bookkeeping Blog
Advice and tips for Australian Businesses
Do you know about Director ID?
Many people don’t know about Director ID and how to apply for one?
This is the eligibility criteria of those that need a Director ID.
– A company that is a registered Australian body or a registered foreign company under the Corporations Act 2001
– An Aboriginal & Torres Strait Islander corporation registered under the Corporations (A&TSI) Act 2006.
In other words an eligible officer is a person who is appointed either as a director, or an alternative Director who is acting in that capacity.
For more information on the Corporations Act, visit the ASIC websiteExternal link, this information is from the link below.
‘Corporations Act directors
When you must apply for your director ID depends on the date you become a director.
| Date you become a director | Date you must apply |
| On or before 31 October 2021 | By 30 November 2022 |
| Between 1 November 2021 and 4 April 2022 | Within 28 days of appointment |
| From 5 April 2022 | Before appointment |
To be a director under the Corporations Act, you must:
- be an individual who is at least 18 years old
- not be disqualified from managing corporations, unless the appointment is made with the permission of ASIC or the Court.
To be a director under the CATSI Act, you must:
- be an individual who is at least 18 years old
- be a member of the Aboriginal and Torres Strait Islander corporation and an Aboriginal and Torres Strait Islander person (unless the corporation’s constitution or rule book says otherwise)
- not be disqualified from managing an Aboriginal and Torres Strait Islander corporation, unless the appointment is made with the permission of the Registrar of Aboriginal and Torres Strait Islander Corporations or the Court.
For more information on the CATSI Act, visit the Office of the Registrar of Indigenous Corporations (ORIC) websiteExternal link’
If you use an authorised tax, BAS agent like myself, I can help you decide if you need to apply.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
This applies to NSW only, the NSW Government has announced a suite of support measures for SME, part of the Economic Recovery Strategy.
The NSW government has announced a suite of support measures for SMEs as part of the Economic Recovery Strategy.
‘The state government announced this week that it will provide a Summer Holiday Stock Guarantee for small and medium enterprises (SMEs) and will expand the Small Business Fees and Charges Rebate for all eligible small businesses.
This means that under the SME Summer Holiday Stock Guarantee, eligible businesses with an annual turnover between $75,000 and $50 million will be able to apply for a grant of up to $20,000 to compensate for loss of perishable stock, or claim $10,000 for reduced capacity to sell non-perishable items if a local lockdown occurs and they are impacted’
The Government has expanded the Small Business Fees & Charges Rebate for use until 30th June 2022.
The NSW Premier has advised that these measures are to provide businesses the confidence to open up and plan for the future.
“These measures will give businesses and workers confidence to purchase stock and invest for the future”
Do you fit these criteria?
As many businesses in NSW may be forced to shut their doors between 1st December & 31st January 2022 due to public health orders.
“Small businesses will now be able to claim road user tolls under the Small Business Fees and Charges Rebate, which is being increased from $1,500 to $2,000.
“The rebate can be used to offset NSW and local government fees and charges and adding tolls to the list of claimable charges is going to make a massive difference to many small business owners who use vehicles for work.”
If you are confused if you fit the criteria or not, please give me a call directly on 0429 363 047. Some of these extracts have been taken out of this story, link here. NSW government announces fresh support for businesses | MyBusiness
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
Did you know that half of Australian workers were underpaid during the pandemic?
When you think about that, that is disgusting to think 50% of workers were underpaid.
ADP’s People at Work 2021: A Global Workforce View surveyed 1,902 workers in Australia, and reveals one in two (52 per cent) workers believe they have been underpaid at least once during the pandemic. Similar numbers (51 per cent) believe that they had been paid late, up from 48 per cent prior to the onset of COVID-19.
The ADP research also indicates two in five workers were overpaid (38 per cent) or experienced issues with their pay (43 per cent), such as failed payments or incorrect tax.
That is a pretty alarming rate of people who received incorrect pay-slips. This has caused loss of employee confidence and causing stress during COVID and many people not able to afford to pay their bills.
Not only that, “Businesses need to be mindful that employees are paying a watchful eye on their payslips. If business operators, all the way from local SMEs to multi-country conglomerates, don’t prioritise running efficient, accurate and reliable payroll divisions, they risk losing talent.
“When employees experience errors in their pay, payroll staff shift their focus to answering queries and checking historical data, distracting them from processing payments or spending time on more strategic work. Often, the first step to improving payroll accuracy is automating the input of data using integrated digital technologies.”
Hence this is why many businesses should be outsourcing their payroll to a bookkeeper, like myself to ensure this doesn’t happen. I take pride in what I do and pay accuracy is up there as one of the most important tasks that I do for businesses.
This is a real shame many businesses have done the wrong thing by their employees and in turn will reduce their workforce when people leave the business.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
