Bookkeeping Blog
Advice and tips for Australian Businesses
The NSW Government hands down the 2020-21 Budget
I have to applaud the NSW Government during COVID-19, this year has been tough for so many both personally and professionally.
Recently the NSW Government announced it’s $1 billion Working for NSW Fund, which will help sustain businesses and create much needed cash flow and help businesses retain employees across government and non-government businesses.
They also announced that over $6 billion, that’s right $6 billion dollars will go towards waiving or deferring taxes, levies and fees, which includes payroll tax and licensing and registration fees to support businesses.
Due to the impact of COVID-19 on certain industries in NSW, the Government announced assistance for the following
$50million for arts rescue and restart, $27.3 million for sports and $11.6 million to support the taxi industry.
That is an incredible amount of money and the Government has advised the will also extend funding of $39.3 million for the Business Connect Program, which assist businesses in need of advice with those facing the multitude of challenges of COVID-19.
Let’s face it, the NSW Government are trying to serve and support local and small business, because as we know, we are the backbone of the country. If you didn’t have the local and small business, NSW / Australia wouldn’t function, pure and simple.
I support the NSW Government as they hand down the budget and we all know the future is uncertain, but this will definitely help many for a more positive 2021.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
Do you know the differences of a Sole Trader and a Small Company
Business structure in Australia has a number of different structures from sole traders to companies, partnerships and trusts.
Definition of a Sole Trader
“A sole trader is an individual running a business. It is the simplest and cheapest business structure. If you operate your business as a sole trader, you are the only owner and you control and manage the business.” – ATO.
Definition of a Company
“A company business structure is a separate legal entity, unlike a sole trader or a partnership structure. This means the company has the same rights as a natural person and can incur debt, sue and be sued.” – Business.gov.au
Each one has different structures.
As a sole trader there a few costs and setup obligations, whereas if you have a company it is totally different.
Without going into great detail of both structures, it comes down to making sure you all your paperwork is in order, that you have good record keeping, and know what your responsibilities are if you are a Sole Trader or a Company.
If you would like to have a 20-minute free scope call to discuss your needs and talk about how you should structure your business, then please make an appointment with me or call 0429 363 047.
Let me setup your company/business correct right from the start.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
Bookkeeping for tradesmen and tradeswomen
This industry is as we know it in 2020, flat out for tradies, anyone that works on the tools, electricians, plumbers, carpenters, tradies spend a lot of time mastering their trade and the last thing they want to do when they get home is bookkeeping.
Many might say, I have a wife or girlfriend that can do that for me.
Well, the amount of tradies paperwork I see the partner has been doing, is a complete mess. It isn’t always the best decision to let your loved one do your books.
You need to also remember the time you spend or your partner spends on bookkeeping, is either time you could be charging out or in some case time you should be recharging your batteries ready for the next work day and also if you are in a partnership or married, you won’t be heading to the courts to get divorced.
Keep your business separate and outsource today to a Bookkeeper today.
Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket. Our team works like a full-time employee and part of your business when it comes to processing your Payroll and bookkeeping, but without the cost or other concerns full time employees bring. When compared to a full-time employee, we give you all the benefits and more but save you around $60,000 a year in costs, makes good financial sense!!
