Where will people spend their money in 2022?

This one is a difficult question to answer, but I feel personally it will be in construction, building, real estate. Many people have been unable to move house because of border closures, people are living in tents, in people’s backyards. Many people will be spending money on rent/mortgages, renovations, building costs because of the demand for many people, is finding a place to live.

During the lockdowns, people have been spending money on food, but with the borders opening in the New Year, I feel the construction industry will increase even more because many people just want to leave the state they live, the house they live, because of the countless lockdowns.

If you work in these areas of building, construction, real estate, let me know because this is when you need a bookkeeper.

Once you outsource your Bookkeeping, you will never go back to doing it yourself.

Give Maree a call today to provide you a quote.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

When the Australian state borders lift, how will that impact your business?

Many business owners are unsure when the state borders lift, how it will affect their businesses. Most will be in favour of the borders opening purely because trade has ceased for many, especially those close to the borders.

Others are worried that the influx of people will be too overwhelming and they won’t have the resources to contend with the increased business. Other businesses may not be impacted at all.

Though one thing needs to be reviewed, is your bookkeeping. Bookkeeping is a major component for anyone in business. If you don’t have the right systems in place, when borders start lifting and business starts increasing at a rapid rate, this is when a great Bookkeeper is in demand.

Have Maree go through your systems now in readiness for when the borders open.

Outsource your Bookkeeping to Maree 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

Is financial strain causing you stress during lockdown, outsource to a bookkeeper to help you regain some control

Do you feel like you’re in a pressure cooker?

About to boil with all the stress from lockdowns.

If you want to regain some control over your expenses, control over your business, then contact Maree today.

Maree understands the stress that many business owners are under at present and have been over the last 18 months.

Outsource your Bookkeeping to Maree today, so you can at least gain some control in that area of your life.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

Have you completed your TAX return or are you putting it off in the too hard basket?

Are you like many people out there thinking, oh I can leave it to next year to do my Tax Return, but you keep putting it off? I hear this all the time. I realise time is precious and it certainly is with the way the world has been in the last 18 months, but you should never put off doing your Tax Return.

You may have employees?

You may be behind in your BAS?

You may be behind in general with all your paperwork.

That’s where Maree can come in, she can pick up where you are, finish everything and do assist with your Tax to submit.

Doesn’t that sound pretty good?

If this is you, then give Maree a call 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

A successful bookkeeper = a successful business owner

As a Bookkeeper it’s my job to manage the regular tasks ie
– Keep all of the records up to date
– Help in keeping your end of year accounting bills
– Assist with avoiding to pay late penalties by making sure the GST, PAYG Tax and Superannuation, compliance obligations are taken care of
– Free your time so you can work on your business rather than trying to do all the tasks of a bookkeeper
– Minimise the risk of fraud by having another set of eyes to check and oversee your accounts
– Conduct ongoing auditing and assurance
– Having someone on your side that can advise and support you in areas of your business that you may not be as knowledgeable.

As a Bookkeeper and BAS agent, I am registered with the Tax Practitioners Board and I am required and have the skills and knowledge of general accounting principles, relevant legislation and up to date current best practices.

This is my job to assist you as a Successful Bookkeeper which = (equals to) a successful business owner.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

JobSaver boost

https://www.nsw.gov.au/media-releases/major-jobsaver-boost-to-expand-covid-19-support
This extract has been taken from the link above.

‘The joint NSW Government and Commonwealth JobSaver program will be significantly boosted to give greater support to businesses and individuals impacted by the extended lockdown.

JobSaver payments will now be available to businesses with an annual turnover of between $75,000 and $250 million, up from $50 million, which have experienced a revenue decline of 30 per cent or more.

The maximum weekly payment has also been substantially increased, with employing businesses that maintain their employee headcount now able receive between $1500 and $100,000 per week, up from $10,000, with payments based on 40 per cent of their weekly NSW payroll.

Applications for JobSaver opened on Monday with more than 14,000 applications already received and almost $28 million approved for payment so far. Payments are expected to start hitting bank accounts from 31 July.

Businesses can expect to receive funds in their accounts within five to ten business days from their approval date, and the arrangements announced today will be backdated, so businesses that have already received a first payment on previous settings will be topped up when their next payment is made.

JobSaver payments are available from week four of the lockdown. Non-employing business remain eligible for a maximum of $1000 per week.

Businesses have also received much needed support from the 2021 COVID-19 Business Grant to cover the first three weeks of lockdown, with more than $118 million paid to businesses so far from more than 56,000 applications received.

For more information visit 2021 COVID-19 Support Package’
https://www.service.nsw.gov.au/transaction/jobsaver-payment#what-you-need
If you fit the criteria, I would definitely be checking out the 2021 COVID Support Package today and the link above that goes through the criteria in much more detail of what you need so you can apply.

If you need any help at all, please do not hesitate to contact me.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

How certain are you that your business will continue with these constant lockdowns?

From what I am hearing from business owners, many are very fearful that their business may not survive all these lockdowns.

Do you think any business is lockdown proof?

Personally, my business as a virtual bookkeeper has expanded and I’m way more busier than ever, looking after new and existing clients, answering questions, helping them with their BAS and sometimes just being a counsellor and listening to their problems. These lockdowns are affecting all different kinds of businesses, not just your cafes and restaurants and retail, but those that depend on stock from delivery interstate, those that have staff on the other side of the border that can’t get through and the pain of these lockdowns is trickling through and affecting other businesses.

It’s a surreal situation for all business owners and when we look back at this, we will look out how we survived, did we pivot, did we just dig deeper, did we actually notice the pandemic, some businesses it hasn’t had any impact, some are obtaining more business and taking it while the iron’s hot as they say.

What about you and your business? Will it continue with these constant lockdowns?

If you need a bookkeeper and need help, you know I am here to help you through it all.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

Is COVID and shutdowns affecting your business?

With the many businesses that I do bookkeeping for, some have been affected, but the majority haven’t, during COVID and the many shutdowns.
I think because many business owners have had to either pivot or look at different ways to operate their business, either by having staff work from home, or look at different options in the way they operate their business.

I am not taking it away that many hundreds of businesses have closed completely due to the lockdowns in Australia. But it does show the resilience we have in Australia and as Australians, that even a virus or shutdowns, won’t stop us from managing and operating our businesses.

I would be interested to hear your thoughts; how have you managed your business during all the lockdowns in Australia.
If you need any bookkeeping assistance, don’t hesitate to contact me anytime.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

Job Trainer program will be extended

Did you know the Job Trainer program will be extended for another 12 months? Which is absolutely amazing for many people obtaining work!!!

They anticipate 163,000 additional low fee and free training places in areas of need, which of course is health, aged, disability care, childcare and trades. This money was actually the extension of funds originally allocated to the $4billion Jobmaker Hiring Credit Program which as we know was unsuccessful.

Australia as we know, is in a skills shortage, so Boosting Apprentice Commencements (BAC) subsidy, has been a huge success and this has now also been extended for 6 months for new apprentices or trainees, who commence before 31 March 2022.

Which means the subsidy remains capped at $7K per quarter per apprentice or trainee. The Budget also delivers pathway services for 5,000 women to commence non-traditional apprenticeships.
What a great incentive for Trainees/Apprentices and also Women, so I applaud the Government in allocating these funds appropriately.

The other area is support for businesses helping people into work, ie wage subsidies available through the Job Active, Transition to Work and Parents Next. These will all be increased to $10,000 and the Local Jobs Program will be expanded and extended to 51 employment regions.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

How the Budget will affect your super

Did you know about these recent changes which may affect your super?
In summary, this is what the Government have outlined.

– $450 monthly threshold for superannuation payments have now been scrapped
– First home super saver scheme maximum increased from $30,000 to $50,000
– Work test for super contributions scrapped for ages 67-74
– Super downsizing contribution age threshold reduced to 60

I am sure you didn’t know this information. As a Bookkeeper I must keep up to date on a daily basis of changes. This is what I do each day to ensure all my clients are up to date.
If you need assistance in relation to Superannuation | Bookkeeping, then please give me a call.

Maree Punzet | Maree’s Mobile Bookkeeping | 0429 363 047
You didn’t go into business to do your Payroll and Bookkeeping, BUT WE DID

Do you know about the changes to unpaid parental leave entitlements?

The Fair Work Act was amended on the 26th November 2020, to include new unpaid parental leave entitlements for parents, who experience the traumatic events during or ahead of their unpaid parental leave.

In other words, this includes premature birth, stillbirth, death of a child.

It’s something we don’t want to talk about or even think about, but these changes will enable all eligible parents to access up to 30 days of their unpaid parental leave. This only applies to a child born or whose placement happens on or after 27th November 2020.

It is hard to fathom what parents go through during these traumatic events.

Even though I talk about business, bookkeeping and PAYG etc, these events do happen to so many people, which is so unfortunate and as a bookkeeper, I keep abreast with these changes which may affect you or your employee.

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 and saves you time to work in/on your business this makes good financial sense!!

Changes to Casual Employment

If you haven’t heard already, on Friday 26th March 2021, the Fair Work Act 2009 was amended to change workplace rights and obligations for casual employees. These changes came into effect on Saturday 27th March 2021.

In a nutshell, what has changed is the Amendment Act has introduced the following
-The Casual Employment Information Statement
-The Definition of Casual Employment
-Pathway for casual employees to move to full time or part-time (permanent) employment.

In regards to the Casual Employment Information Statement, now Employers will have to give every new casual employee a Casual Employment Information Statement before, or as soon as possible after they start their new job.

The definition of a Casual Employee is the Fair Work Act has been amended to include a new definition. That a person is a casual employee if they accept a job offer from an employer knowing that there is no firm advance commitment to ongoing work with an agreed pattern of work. They will remain a casual employee until they either, become a permanent employee through: casual conversion, or are offered and accept the offer for full time or part time employment, or stop being employed by the employer.

The existing casual employees, which are those casuals who were employed immediately before 27th March 2021 and whose initial employment offer meets the definition, will then continue to be casual employees under the FW Act.

If this sounds all too confusing, give me a call and let me step you through it and remember that there is a new avenue to resolve some disputes about casual conversion through the Federal Circuit Court.

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 and saves you time to work in/on your business this makes good financial sense!!

Businesses given a deadline to acquire a Director ID

Recent news that Business Directors now have a set deadline to obtain a director identification number under the federal governments digital business plan.

It’s providing directors appointed under the Corporations Act 2001 that they have up until the 30th November 2022 to obtain a Director Identification Number (Director ID).

It will apply for both existing Directors who were appointed prior to the start of the Director ID regime as well as Directors appointed during the testing phase. The Government released these details as part of the 2020 budget Digital Business Plan.

The director ID will help prevent the appointment of fictitious directors, which unfortunately some businesses have done. This is under the MBR program which was announced as part of last years.

If you have any further questions, please do not hesitate to contact me anytime.

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 and saves you time to work in/on your business this makes good financial sense!!

The ATO is permanently launching the small business dispute resolution service

If you didn’t already know, but the ATO has announced its small business independent review service. It will be a permanent service, following a successful pilot stretching several years.
This service will be available for eligible small businesses with an annual turnover of less than $10million. This service will help businesses with disputes about income tax, GST, excise, luxury car tax, wine equalisation tax and fuel tax credits.

You might be asking, what about disputes about employer obligations for instance superannuation; & fringe benefits tax are not eligible for the independent review service. This independent review service is available to eligible small businesses in addition to other dispute options, ie lodging an objection, in-house facilitation.
The pilot program started in 2018, over 1200 or more small businesses have been offered the service. More than 180 small businesses have taken up the ATO’s offer. Since the pilot program started, those that participated found the process to be fair and independent, hence why it’s now been implemented permanently.

Personally, I think it’s a great initiative and extremely helpful to small 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
We are a full service, insourced Payroll and Bookkeeping business that puts money back in your pocket and saves you time to work in/on your business this makes good financial sense!!

The COVID Rebound

Can you believe it’s been 12 months already of the 1st case of COVID. In Australia we faired pretty well compared to the rest of the world.

We are definitely in rebound mode, for many business owners, it’s survival. Some have been able to grow leaps and bounds, pivot, while others have relied on the Jobkeeper payments and still could close.

But the outlook looks to be that Australia business is on the rebound.

There has been new consumer confidence in the market, people seem to have more money, they are spending on homes, cars, holidays locally and interstate because they can’t spend that money on overseas holidays.

So there are a couple of things to think about with this rebound which is:

1.Cashflow
Look at your business and review exactly how much it needs to survive and what timeline.

2. Documentation
Document everything, if you are not already, look at streamlining your processes. Start reviewing your costs in pre-crisis revenue and margin to post crisis.

3. Inventory
As Australia is starting to reopen borders, early movers building inventory soon may benefit from pre-surge prices.

4. Prepare to Hire
I know that sounds crazy, but can you afford to add staff now or not. Do you have a HR person to help, look at identifying job descriptions, start dates.

5. Work with the best Bookkeeper
Now this one is a given, you need to talk to me. A good bookkeeper will save you a lot of $$$.

So remember, we are coming out of this pandemic and it’s exciting to see Australia rebound and show the rest of the world, how tough and resilient we truly are.

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 and saves you time to work in/on your business this makes good financial sense!!

Easter time – Special

Firstly, I would like to say to each and every one of you Happy Easter, Easter is a great time of the year.

I would also like to encourage you if you haven’t outsourced your bookkeeping to me already, this is now a great time as I am offering 20% off the first month for any new client that comes onboard. Now that is a huge saving!

Easter is a great time to spend with family and friends and spoil yourself with some chocolate and hot cross buns.

In saying that, it’s also a great time to review your expenses, review your budget, review your bookkeeping.

Let me help you 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 and saves you time to work in/on your business this makes good financial sense!!

Did you know the Government is planning to reveal a $1.2 billion extension of the Apprenticeship wage subsidy?

I for one applaud this initiative from the Government. For any business or group training organisation, if an apprentice is engaged between 5th October 2020 through to 21st September 2021, they may be eligible for a subsidy of 50% of wages paid to a new or recommencing apprentice or trainee for a 12-month period from the date of commencement. The maximum of $7000 per quarter.

As a mother of two boys my eldest son only having left High School late 2020 after completing his HSC, this is a fantastic initiative for anyone or has just left school or even those looking to change careers.

We definitely need this due to COVID and the economic challenges that are to come in the future.
I hope that businesses will take up this initiative because we need a skilled workforce. It also shows that there is greater confidence for businesses who may have held back over the last 12 months.

I myself am thankful and having children of my own it provides me some security that they have a bright future ahead.

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 and saves you time to work in/on your business this makes good financial sense!!

Maree is the Bookkeeper of the Future

Does your Bookkeeper keep up with the ever-changing pace of technology when it comes to bookkeeping?

Does your Bookkeeper help you and gives you advice when needed?

Does your Bookkeeper answer the phone over the weekend or evening when you have a question?

Well then, maybe you should switch to Maree Punzet from Maree’s Mobile Bookkeeping.

One thing with Maree, she keeps up to date with all the changes taking place in the world of Bookkeeping, she has a team of people that assist her from Marketing to even a Cleaner to clean her house, because 100% of her time is helping business owners like yourself, so you can concentrate on what you do best.

Can you say the same about your current Bookkeeper? I bet you, the answer is NO.

Maree is dedicated to her business, to her clients, it would be hard to find another Bookkeeper in Australia with that much dedication to the job.

Maree loves what she does, it’s ‘her thing’ everybody has a ‘thing’ they love and as much as your probably thinking, who could love Bookkeeping that much, well you haven’t spoken to Maree then.

Don’t waste your time, give Maree a call today on 0429 363 047.

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 and saves you time to work in/on your business this makes good financial sense!!

Why the wife or partner shouldn’t do the Bookkeeping

The number of times when I call a business owner and the response is ‘oh the Mrs / partner does the Bookkeeping.’

That there is where the problem lies.

Firstly, not all Mrs or Partners are fully qualified Bookkeepers. Not all know what they are doing.

But because you’re in a relationship with this person, you don’t question what they are doing with your books, because of course you trust them.

Unintentionally the Mrs/Partner may be entering in the wrong information or not coding an expense correctly, not out of spite, but just because they are not experienced and because most couples don’t want to upset the other, they trust they are doing the right thing.

More often than I can count, is when a business owner calls me, because mistakes have been made and then it causes problems in the relationship, which it shouldn’t.

Hence why when it comes to bookkeeping, right from the beginning you should outsource to a bookkeeper. Someone that is impartial, but also makes your business a priority, because that is what I do. I treat your business financials as my own. If I’m helping businesses with PAYG or payroll, reconciliations, whatever it is, I do it as if it was my own business.

So instead of allowing your Mrs/Partner to do your bookkeeping, it is way better to outsource this area of your business and keep your loving relationship intact, otherwise you may be visiting a divorce lawyer instead.

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 and saves you time to work in/on your business this makes good financial sense!!

What will happen when JobKeeper ends?

Can you survive when JobKeeper ends in March 2021?

If you need help to determine your cash flow or if you have insolvency issues, then maybe it might be time to give me a call and let me help you.

There is talk that the ATO is tipped to pounce on businesses once JobKeeper ends.

If you are a business owner, I encourage you to act early on exploring your insolvency options before the ATO comes knocking to recoup debts.

The JobKeeper stimulus is set to expire on March 28, so now is the time to do an assessment on your business.

Firstly, do you have the ability to pay staff wages, rent, super, tax?

Can your business survive – post stimulus?

If the answer is no, then please contact me straight away.

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 and saves you time to work in/on your business this makes good financial sense!!

Did you know about the Single Touch Payroll Phase 2

Have you any idea what to expect and how to get ready for Phase 2 of the Single Touch Payroll. It now has a start date of January 2022, so processing payroll is about to get a whole lot more complicated.

From what I have read and understood the Single Touch Payroll Phase 2 will remove the need for manual reporting. It looks like The Phase 2 will bring more complex reporting and similar to Phase 1, many businesses will then have to prepare for the challenges of that next roll-out.
That is where I come in.

Many are technical changes whereby the average business owner may get stuck.

For example, you will have to provide a reason for termination. At present an employer may be asked to provide an employee with an employment separation certificate upon an employee’s termination of employment. So, with Phase 2 you will also be required to provide the reason for termination to be included in the STP report sent to the ATO. This will eliminate the need for an employment separation certificate to be issued to the employee altogether.

Another change will be if an employer has to submit a deduction report to the relevant child support agency, when they deduct the child support from an employee’s pay.

When Phase 2 is brought in, Phase 2 will allow employers to report child support deductions via pay events, which will then remove the need to report separately on a monthly basis. It looks to be initially voluntary reporting and if employers do not choose to report via STP, they will need to continue to report monthly as per existing processes.

What I have read also is changes to the tax treatment codes, whereby with Phase 2 they will introduce a 6-character tax treatment code to indicate what PAYG tax scales. Also Lump sum E letters, transitioning employees from another payroll system, paid leave, tax file number declaration, negative YTD reporting, allowance items, Keypay etc.
It will be interesting when the rollout happens and Phase 2 will be here before we know it.

But don’t stress, because it’s my job to know all the ins and outs when it comes to Phase 2.
Please contact me anytime if you need assistance.

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 and saves you time to work in/on your business this makes good financial sense!!

What can we learn from 2020?

That is the million-dollar question right there.

What have we learned from 2020? The year that brought Australia and the world to a stop. A global pandemic that brought businesses to a standstill, many hundreds and thousands of deaths across the world, not only in Australia but all countries because of COVID-19.

We all wanted a slower pace of life, the old saying, there is no place like home.

And home is what we got.

Hundreds and thousands of people, children, families had to stay home because of this pandemic. It made us all look and review how we live our lives, it gave us time to reflect on what we have, our health, our families.

What is most important to us.

Personally, what I learnt from 2020 was I had more time with my two boys and my husband. I was able to see what my boys were learning through school and find out their weaknesses first hand and was able to support and help them. Especially my eldest boy who finished Year 12 this year. I am glad I was able to support him during this time.

I was there for my dad more and helping him with errands and my husband. So for me what I learned was life is precious, family is precious. Business is not the most important thing in life, family, love and our health is.

I truly feel many people probably think along the same lines as I do, but that is what I learnt in 2020.

I hope we all as a community, as a country pulls through this together and 2021 is a better year for us all, but that we don’t forget the precious things in life, which is are families.

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!!

What will happen in 2021 when it comes to Bookkeeping?

Like anyone here, I don’t have a crystal ball, I wish I did.

But after what has been a turbulent year for so many in 2020, I think the Government will be assisting businesses, both large and small during 2021.

We must get the economy going and with multiple Grants on offer and assistance through construction, building, low interest rates, Job keeper payments, Job Seeker payments and now Job Maker, I feel that we are heading in the right direction.

One thing I would like to mention is to make sure that when it comes to Bookkeeping, if you decide to do it all yourself, is to keep yourself updated with all the changes and keep your records up to date and accurate.

Of course, I would rather you come to me, because I feel 2021 will be a year of many changes in our industry and across the board.

With that, comes challenges.

Let me know if I can help you in any way as I look forward to looking after you and your 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

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!!

What Happens If You Overclaim on Tax?

It is always in your best interest to deduct the maximum amount your entitled, but deliberate attempts to overclaim can definitely attract harsh penalties from the ATO.

Up to 75% of the claim.

The ATO are cracking down on work-related expenses and rental claims as more and more people are working from home.

More people are overclaiming rental expenses, claims for cars, travel, internet and mobile phones.

Records should be kept for the following and remember by tax law you need to keep your tax receipts for 5 years.

These are the following plus always good to keep a electronic copy as paper receipts do tend to fade.

  • sales receipts
  • expense invoices
  • credit card statements
  • bank statements
  • employee records (wages, super, tax declarations, contracts)
  • vehicle records
  • lists of debtors and creditors
  • asset purchases.

Don’t overclaim on tax and if you are stuck what you can and cannot claim, please contact me direct on 0429 363 047.

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!!

Tips on teaching kids about money

This might be one of those things you think about from time to time, but I think teaching kids about money in the early years will set them up during their life.

I am a mother of 2 boys and have tried to install good money and spending habits. I have tried to teach them the value of money and how saving up for something is much better than buying something on credit.

Saving is such a long-term habit and could make a huge difference in a kid’s life if you teach and start them young. Even pocket money or making them do some more chores around the home for a bonus at the end of the week ie match a dollar for a dollar in their bank account for example.

It is about teaching kids’ simple strategies about the difference between wants and needs.

A great place to start it explaining the basic needs, ie food, water, shelter, you can reinforce the concept of a want versus a need. When you go shopping with your child and they have asked for a treat when you walk down the confectionary aisle. Unless it’s a special occasion, firstly don’t walk your kid or kids down that aisle (bad idea), but unless they have earned it during the week, then it is a treat for them, because they washed dad’s car or helped put clothes on the line.

Kids should be given goals, it’s too easy to give kids everything they want, they won’t appreciate working for things like cars and houses as they get older if you as a parent have just always given them what they wanted, when they wanted.

Get kids to make a vision/goal board and help them write out what they want and how they can reach that goal. Let them earn their own money and they can start ticking off that vision board each item they have worked for, be it doing more chores around the house for pocket money or saving more each week into their bank account.

Show them and explain to them about compound interest, the earlier and quicker they start saving it will grow so much in only a few short years.

I realise this isn’t so much bookkeeping related, but I think it’s an important one to touch on, as adults if we are clever about money, we can to be saving money and using our money wisely in 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

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!!

 

Does your business comply in a COVID-19 World?

Every business has a duty of care and especially now Post COVID. It has never been a more important time to businesses to stay on top of the ever-changing compliance obligations.

If you have staff, you need to consider and review the following

  1. The changing employment laws in Australia ie Awards
  2. Those returning to the workplace, if they have been working from home during lockdown
  3. If your staff are remaining working from home on a full time or part-time basis
  4. Payments and leave entitlements
  5. Reviewing your staff working hours, location and duties
  6. Standing down employees or ending their employment due to COVID

There is so much to consider during and post COVID-19. We in Australia are not out of the woods yet, we could get more waves of COVID in different states, business will never ever go back to what it used to be and I personally think, that is a good thing.

But be vigilant, stay on top of compliance and if you need me to look at these things for you, please do not hesitate to give me a call on 0429 363 047.

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!!

The ATO has issued a reminder to businesses who may be subject to penalties for missing October 2020 deadline to fulfil their Superannuation Guarantee Obligations

Don’t be one of those businesses that is subject to penalties.

By law, the ATO has advised and reminded businesses they cannot extend the due date to pay superannuation.

If you have already missed the 28th October deadline to pay your quarterly SG contributions, you will need to lodge a superannuation guarantee by the 28th November 2020 to avoid penalties, after this date you will incur the penalties and believe me you don’t want to miss the deadline.

‘The ATO noted the superannuation guarantee charge is different to the regular contributions businesses pay and is made up of SG shortfall amounts, interest on those amounts (currently 10 per cent) and an administration fee of $20 per employee per quarter’

If you need assistance now, then please give me a call on 0429 363 047.

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!!

 

Your paying for my years of experience

When I speak with clients, some hesitate at the cost and say to me, that’s just too much money for BAS reviews and quarterly lodgment.

It is strange, when you think if you have a plumber or electrician come to your home to fix a leaking pipe or a faulty switch, do you ever say, wow, that’s too much money.

You don’t, purely because you know that the Plumber or Electrician is a qualified tradesman and they have spent years in training and courses to be highly skilled in their area of expertise.

It’s no different as a Bookkeeper/BAS Agent, I have spent countless years of study, over 20 years of experience working in client’s onsite locations as well as working online from home, many hours, late nights studying, working on problematic areas of businesses, so why is it any different?

It isn’t.

What I provide to you is not only a service, but I provide 20 plus years’ experience as well. Of course, there will be a cost to that. If I was in my first-year learning Bookkeeping, of course I wouldn’t be charging much, because I would still be learning and inexperienced.

So, don’t look at the price, look at the experience a person can provide you for your business, making sure you’re not losing money but saving money and your bookkeeping and BAS is correct, so you don’t have the ATO chasing you.

If you have any questions, please do not hesitate to contact me direct on 0429 363 047.

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!!

The ATO is warning businesses to stay up to date with their obligations

The ATO have been sending out notices to all businesses, warning them that if they are not staying up to date with their obligations, that is may in fact impact their eligibility for future stimulus measures.

In short, they are saying that businesses who are doing well need to resume their obligations whilst those that are facing ongoing hardship are encouraged to get in contact with the ATO.

Since September 1st 2020, the ATO has stopped providing blanket extensions to small business audit cases. The ATO have also recommended activity where the business is either not adversely impacted by COVID or is now in a position to progress.

If you need some help in this area, please do not hesitate to contact me direct on 0429 363 047.

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!!

Don’t be caught out underpaying staff

Are you aware that changes are happening from the 1st November 2020 to Award Wages, if you don’t you need to read below?

Did you know that the award minimum wages for Group 2 Modern Awards has actually increased by 1.75% from 1st November 2020? The increase in this wage will have a flow on effect to all businesses with loading, penalties, allowance and also overtime payments.

So as a business owner, you should take the steps to ensure wages are compliant with the November 2020 Modern Award increase.

I’ve noticed sometimes businesses never deliberately underpay, so normally it’s a lack of attention or oversight.

Remember to also review any of your ‘all-inclusive’ pay arrangements for employees covered by this Group 2 Modern Award. It’s important to know that employees who receive an all-inclusive salary, that the increase to the minimum rate may affect that of the all-inclusive salary, so make sure you check by going through the employee’s awards entitlements by reference to their actual hours of work.

Now if that sounds all too confusing, please give me a call on 0429 363 047 to have a look through.

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!!