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EOFY checklist for businesses

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We are getting to the pointy end of EOFY.

This is an opportune time to get everything organised, here are some handy tips

  1. Review recordkeeping processes
  2. Check your Business Activity Statement
  3. Prepare a Taxable Payments Annual Report (if relevant)
  4. Finalise payroll and superannuation obligations
  5. Taking stock: inventory, assets and liabilities
  6. Complete reconciliations for FY21/22
  7. Prepare for FY22/23

If this sounds all too much, give me a call direct today on 0429 363 047.

I can definitely help you with preparation of EOFY.

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

Will Interest rate increases affect Businesses?

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No matter who you talk too in Australia, we all know that interest rates for homeowners has increased at .25% for most homeowners with a variable mortgage loan.

Do interest rates affect businesses too?

The answer is YES.

When it comes to customers who pay interest on personal loans, home loans and car loans, the higher the interest rate, the less money in a customer’s pocket.

This can reduce their ability to buy products and services, so businesses may see a decrease in sales.

With relation to the cost of borrowing, interest rates rise, banks charge more for business loans. This means you will need to use more of your earnings to pay interest on your loans, which then decreases profit.

This can stop many business owners from starting new projects or expansion during periods of high interest rates, which then impacts the growth of the business.

When interest rates are low, businesses are confident and they can borrow more readily. When they increase, then the confidence lowers and could have a negative effect on the business.

Everything depends on the economic environment.

Businesses who invest their excess cash in interest – bearing accounts will make more money during periods of high interest rates, when rates are low, business are more likely to use their cash for new equipment and plant improvements.

As we know, there will be further interest rate increases happening during the year and will be interesting what impact this will have on businesses.

If you would like to discuss further, please don’t hesitate to contact me 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

Have you outsourced your bookkeeping in the past?

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Have you ever outsourced your bookkeeping but decided to do it yourself?

Was the reason that you felt you lost that control?

We have recently completed a survey and asked business owners the main reason why they won’t outsource their bookkeeping.

The majority of people answered that they felt like they would lose control of what was happening within the business.

Isn’t it strange, as a business owner, we like to control every facet of our business, from working on the product or service, to delivery, to pricing, to writing content, to social media, we like to stay and control and do it all?

Well, sometimes you just can’t do everything as a business owner.

It just isn’t possible.

You don’t have the time.

Which means an area of your business, which is probably the most important aspect, either doesn’t get done, or it gets done, but in a hurry and errors are made.

Have you thought that Maree your bookkeeper could do this for you, in half the time and she will keep you informed of what she is doing, so you still feel like you have that control?

Does that sound pretty good to you?

Then 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

Wages theft, are you underpaying your employees?

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Wage theft refers to when an employer fails to pay the minimum monetary amounts due to an employee. Underpayment of wages is when an employer fails to pay the minimum monetary amounts, including allowances, prescribed under an award, agreement, employment contract or the National Employment Standards.

While Woolworths is back in the spotlight again, small business cannot ignore their responsibilities in ensuring staff are paid correctly.

Employees are encouraged to keep detailed records of their rosters / shifts and diary entries in relation to their employment. Fair Work may start an investigation or take other steps when they become aware of an underpayment arising from non-compliance with Australian workplace laws, even if the affected employees have been back paid.

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

Free Health check

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Did you know I provide Free Health Checks, but not for your health, but for your business?

Maree’s Mobile Bookkeeping is offering a FREE health check of your software file (valued at $497) with comments and recommendations for your file moving forward.

Contact Maree today – conditions 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

The NSW Government has announced the 2022 Small Business Support Program

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This Small business support program is helping businesses survive the impacts of the Omicron COVID-19 strain.

If your business falls under these requirements, you may be eligible to apply for a payment under this program.

1. You have a business or not-for-profit organisation with a turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2021 or the year ended 30 June 2020; and

2. You are experiencing a decline in turnover of 40% or more due to public health orders or the impacts of Omicron during the month of January 2022, compared to January 2021 or January 2020; and

3. You are experiencing a decline in turnover of 40% or more due to the impacts of Omicron from 1 to 14 February 2022, compared to the same fortnight in February in the comparison year used above; and

4. You maintain your employee headcount as of 30 January 2022.

Those eligible businesses and not-for-profit organisations will receive 20% of weekly payroll as a lump sum for the month of February, with a minimum payment of $750 per week up to a maximum payment of $5,000 per week.

Eligible non-employing businesses will receive $500 per week, paid as a lump sum of $2,000.

The 2022 Small Business Support Program is for the month of February only.

Applications are expected to open from mid-February, so be quick to apply so you don’t miss out. If you need assistance in applying, let me know.
For more information and eligibility criteria, see the program guidelines.

Most of this information has been taken from this link https://www.service.nsw.gov.au/transaction/2022-small-business-support-program
Remember applications open Monday 14th February and closes Monday 28th February, so you don’t have much time to apply.

If you need assistance, then give me a call on 0429 363 047, I can take care of this for you and so much more.

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 the ATO can cancel your ABN?

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If you are a business owner and you have an Active ABN and are behind in your Tax and / or BAS lodgements, call Maree and let her help you catch up, otherwise the ATO will think you are inactive and cancel your ABN.

…and believe me, the ATO does cancel ABN’s.

Do you really want that to happen to you, because you have got behind in your Tax and or BAS lodgements?

Did you know the ATO are currently undertaking a program reviewing all Australian Business Numbers (ABNs) to identify those that are potentially inactive and in need of cancellation?
The ATO may select an ABN for review and potential cancellation if:
• that ABN has not reported business activity in a tax return;
• there are no signs of business activity in other lodgements such as activity statements; or
• there are no signs of business activity from other third-party information which the ATO has access to.

Call me today to help you.

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 want to know how to increase your profit in the next 90 Days?

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Have you recently seen my recent add?

If you haven’t, well I am a Bookkeeping Expert.

I have seen the NUMBER ONE mistake that prevents owners from achieving their financial goals and it’s not eating their FROGS.

What does FROGS got to do with increasing my profit?

Frogs is an analogy to describe many business owners who

– Are working very long hours
– Are not knowing how much profit they are making
– Are getting anxious each time their bank balance gets low
– Who don’t have the time to invoice their clients
– Who constantly feel stressed when it comes to their bookkeeping and cash flow

Business owners who feel ripped off because owning a business should be more profitable and take up less of their time.

That’s what I mean not eating their FROGS.

My name is Maree and I’m a Professional Bookkeeper.

Over the last 10 years, I have helped small business owners to:
Take their bookkeeping frustrations away
Improve their Cash Flow and Profits
Understand their numbers
Create MORE TIME to do the things they ENJOY

Don’t let the frogs win!….

If you want to build a business that supports you and your family to live a life you know you deserve, you need someone to help you get the unpleasant stuff done.

To help you get started with this, I’ve put together a Profit Planner + Action Plan that will give you a clear plan on things to TAKE ACTION ON NOW to kickstart your business into 2022.

To get this Super Simple Profit Planner, send me a message with your email address and I can email one out to you.

Enjoy your planner, the feedback from many people has been fantastic, they said it’s a great free tool and wish more Bookkeepers could help them like this, hence give me a call on 0429 363 047.

Maree Punzet
Professional Bookkeeper & Frog Eater

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

Don’t let the festive season be the reason your bookkeeping is not in order

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Already most people have got their Christmas tree up and already buying presents and planning what to eat on Christmas Day.

But how many people have got their Bookkeeping in order.

I bet you out of 10 people, only around 4 would have their bookkeeping in order.

In the last 18 months since COVID reared it’s ugly head, many people have put Bookkeeping on the backburner, thinking why do I need to bother, work has been up and down for many businesses because of constant lockdowns and border closures.

The festive season is only around the corner and if you are ramping down your business for the New Year to celebrate with colleagues, then take this opportune time to get your Bookkeeping in order.

I can help you with this, at a minimal cost. At least you can put your mind to rest in 2022, your up to date with all your bookkeeping.

If you would like to have a chat about how I can help you, please give me a call 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

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

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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

Maree has the Bookkeeping experience, why wouldn’t you outsource?

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Did you know Maree has helped over 200 plus businesses over the last 20 plus years? I wonder how many Bookkeepers could say the same thing.

That’s a long time to be working within one industry, but that is Maree’s passion. She loves anything to do with Bookkeeping. Anyone could ring Maree and she will have that knowledge at hand with whatever question you ask her, simply because this is what she does. Maree is a qualified Bookkeeping and BAS agent.

She has worked with clients from all over Australia from all different industries ie construction, farming, retail, café’s, restaurants, corporate, pubs.
This is what makes Maree unique. She has the knowledge and experience of different industries. She doesn’t just work with all construction companies or just cafes, she works for all different industries and has been over the last 20 plus years.

So why wouldn’t you outsource your Bookkeeping to Maree? Someone that has the tenacity and the knowledge and experience in Bookkeeping.
Call 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

A successful bookkeeper = a successful business owner

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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

Don’t forget to review your work-related expenses at Tax Time!!

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This will be very interesting, as most people working from home since the pandemic, have now worked solidly for the full 12 months, so many people will be asking what are work-related expenses and what is not.

The Tax Office has warned it will be taking a close look at work related expenses.

Do you know what you can or cannot claim at tax?

If you don’t have a clue and need help, 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?

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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

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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

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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

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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!!

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

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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!!

EOFY is approaching – are you ready?

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Mmmm that question has made many people a little nervous this year.

I am not sure why, I think with the turbulent year of COVID and businesses being in lockdown and reopening, many people haven’t kept an eye on the expenses or they have been so busy because COVID brought more work into their business, they are way behind in their books.

EOFY is an extremely important time of the year for any business. Not only that you must have everything up to date, but it’s a good time to reflect on the past 12 months and look at how your business faired.

Many people will be worried because COVID had an impact on many businesses, some failed and had to close or they had to stand down employees, other businesses had the oppositive effect and had to put on staff to cope with the increased amount of business.

Either way, EOFY is only a few months away and now more then ever is the time when you need to outsource your bookkeeping to a qualified bookkeeper. Someone that can take that pressure off you or even just to answer a question you may have.

Many regulations and changes are taking place and Jobkeeper will be finished at the end of March. Please don’t hesitate to give me a call now and let me get you organised and up to date for EOFY.

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!!

Have you lodged your TPAR or have your forgotten to lodge?

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Did you know more than 60,000 businesses in Australia are yet to comply with their lodgement requirements under the Taxable Payments Reporting System (TPRS). The due date was last August 2020, so the ATO will be chasing those who haven’t lodged.

Are you one of those 60,000 businesses in Australia?

Did you know if you have yet lodged, that you may incur penalties from the ATO. This is when contractors who have don’t report or under-report their income, it’s dangerous to do this and you will be caught.

In fairness, some businesses do not realise they need to lodge a taxable payments annual report (TPAR), but may be required, depending on the percentage of payments received for courier services or deliveries.

Businesses for example ie Restaurants, Cafes, Pharmacies, Grocery Stores and retailers have started paying contractors to deliver their goods to customers, especially since COVID. These businesses previously may not have needed to lodge a TPAR, but if the total payments received for deliveries or courier services are 10% or more of the total annual business income, then they will need to lodge.

Do you fit in this criteria?

It is what the ATO describe as the Black Economy. This is costing the community as much as $50 billion dollars. Other areas that pay contractors are those that provide road freight, information technology, security, investigation or surveillance services. If you do fit in these areas then you need to lodge a TPAR with the ATO.

If you are confused and think maybe I need help, then give Maree a call direct on 0429 363 047 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!!

Why the wife or partner shouldn’t do the Bookkeeping

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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!!

It’s now December 2020 and Christmas is here, are you claiming all your business expenses?

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Probably the last thing you would be thinking about is claiming your business expenses at this time of year. But only another 6 months’ time is EOFY, so we are mid-way and it’s a great time for businesses to go through what you are claiming as a business expense.

The ATO has found that ‘around 90% of small businesses are using a registered bookkeeper/tax professional to help them with their income tax obligations. That is music to my ears as it is important for Bookkeepers like myself to make sure businesses get their tax right.

Come time to do your tax return, are you claiming all of your business expenses?

Those businesses that keep good records and invest in a good bookkeeper will be less stressed when it comes to tax time in 6 months’ time.

Enlist a professional like myself to hep you with your books and uncover more to claim as businesses expenses.

Most people know that general office stationery, cost of renting your office or business space are some common expenses that can be deducted. But here are a few more that you may not know

– Cost of running your website, including maintenance, updates, service provider fees
– Marketing and promotional activities
– Tender fees, bet you didn’t know that, (even though that didn’t have a successful outcome)
– PR related expenses
– Parking related fees

Just to name a few.

Then if you operate and run a car for your business, you are also entitled to receive deductions.

If your business operates under a company or a trust there are additional motor vehicle claims as well.

But a few you can claim ie
– Registration
– Oil & Fuel
– Depreciation
– Interest on motor vehicle loans

Then there is repairs an maintenance on business machinery, tools, travel expenses for meals, parking, road tolls, fuel etc the list goes on and if you operate from home like many are now doing since COVID, you have home office cleaning expenses, percentage of phone and internet, stationery, home office equipment.

Give me a call, let me help you, so in six months’ time you won’t be stressed.

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 is stopping you from outsourcing to a Bookkeeper?

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This question keeps coming up all the time in every social media group, forum and I think the big reason why businesses are stopping from outsourcing to a Bookkeeper is ‘fear’

Like anything that is new, because we feel safe doing things ourselves and yes when it comes to finance and paperwork related to a business, there is that element, will this Bookkeeper know what to do? They can se all my finances and what my business makes and what our profits are. I don’t like others knowing personal details about my business. Will they judge how I have been doing my own books? Will they laugh at me when I provide them receipts in a shoe box?

The answer is NO.

I’ve been a Bookkeeper for over 20 plus years. Confidentiality is the most important part of my job. I have never laughed or joked about a client’s business. I applaud when a client comes to me, because it’s at that time where they are throwing their hands in the air saying ‘could you just do all this’ I’m at my wits end and I don’t have a clue what I’m doing.

Now it’s brave to ask for help.

I understand that fear and bravery both come to mind when a client takes that initial step to outsource their bookkeeping to me.

It’s no different if I was outsourcing and sending my car to a mechanic. I don’t have any idea what goes on under that engine. Do I feel fear, anxiety when I take my car to the mechanic, NO…because my mechanic does this work every day, I trust him to look after my vehicle and get it working to its maximum potential?

That’s how you should feel when you outsource, confident, happy, not fearful or nervous.

If you want to have a 15-20-minute chat about outsourcing your bookkeeping to me, I am more than happy to speak to you 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, in-sourced 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!!

Can you still get Job Keeper if you receive the Carers Pension?

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Now this question has come into debate recently. There is a link here stating you cannot obtain both.

The Job keeper payment will affect the amount of money you receive for the Carers Pension. If you do however submit for Job keeper, your Carer payment will either stop or be reduced. Once you do not receive the Job Keeper payment. Once the Job keeper payments stops, you can then reapply for your Carers Payment again. Therefore, after this 12-week period, you will need to reapply again from scratch for the Carers Pension.

So, the answer is NO. It is always wise to review the ATO website and also speak to your Bookkeeper in regards to what you can and can’t receive. This easy read fact sheet, states plainly very clearly what you can and can’t do.

If you have any questions in relation to Jobkeeper or the Carers Pension, please do not hesitate to contact me anytime on 0429 363 047.

https://www.dss.gov.au/sites/default/files/documents/05_2020/dss-carer-payment-jobkeeper-payment-easy-read-fact-sheet.pdf

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!!

Businesses have survived COVID-19 with the help of a Bookkeeper

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There has been so much negativity in the news in Australia about businesses closing, people losing their jobs. But there have been many businesses that have thrived and survived during COVID because of the help of a Bookkeeper.

Not one of my present clients have had to cease my services, to be honest, my clients have contacted me during this time, to help them with all the changes of the Job Keeper, Job seeker and EOFY, so it’s been quite the opposite.

The clients I look after range from all different industries and all have survived this health pandemic and economic uncertainty. It proves that many businesses did not have to lay off staff, some have pivoted and looked at other ways to sell their products or services.

As a Bookkeeper and BAS agent, my work has probably increased a little due to more discussions on the phone, face time, emails with questions, but that is part of my job and I love helping my clients.

If you feel that it’s time to look at obtaining a Bookkeeper to help guide you through the COVID crisis, then please give me a call anytime.

I have worked in the industry for over 20 plus years, with qualifications and experience that is second to none.

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 Fair Work Ombudsman is prioritizing COVID-19 workplace disruptions which include the Job keeper payment compliance

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What that means is over the next 12 months, the Fair Work Ombudsman (FWO) are reviewing any underpayments in large corporations.

‘Fair Work Ombudsman Sandra Parker has confirmed that Aussie workplaces can expect a degree of flexibility in the FWO’s enforcement approach in the new financial year, especially those sectors heavily impacted by the coronavirus crisis’

There have been many sectors within the Australian economy that have been seriously impacted by COVID-19. The FWO will enforce workplaces of their financial positions and review the challenges each are facing whilst recovering from the health disruption. The FWO are trying to uphold the integrity of the Jobkeeper scheme through these appropriate compliance activities.

“Due to the impact of COVID-19 on Australian workplaces, the number of employers and employees seeking our assistance has grown significantly,” Ms Parker said.

“More than 60 businesses have come forward to self-disclose workplace law breaches, with a total of half a billion dollars owed to workers — and that’s just what we know about,” Ms Parker said’

In other words, many large organisations in Australia need to prioritise and review workplace relations systems to ensure their paying workers are receiving the entitlements. Areas such as the fast food industry, cafes, restaurants, horticulture sector, franchisors and sham contracting.

‘Ms Parker did, however, explain that the agency will provide education, advice, tools and resources to small business and those hardest hit by COVID-19’

The FWO will take into account those businesses and their financial circumstances.

Excerpts taken from https://www.fairwork.gov.au/about-us/news-and-media-releases/2020-media-releases/july-2020/20200713-media-release-2020-21-priorities

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

Maree Puznet
Marees Mobile Bookkeeping
www.mareesmobilebookkeeping.com.au

Don’t market yourself as a Bookkeeper, unless you are qualified

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As a qualified Bookkeeper, with over 20 plus years’ experience and also a qualified BAS agent, it makes it difficult to see so many business people market themselves as a Bookkeeper, when they are not qualified.

Firstly, it’s false advertising and I see many Virtual Assistants and Consultants that advertise as another service they provide is bookkeeping. Bookkeeping isn’t just a side service offered to clients. Bookkeepers in this profession have spent years crafting their business, years of study, years of completing courses and updating their skills on a yearly basis, this is all part of the Bookkeeping Industry.

We cannot just advertise and never do anymore study on a yearly basis, because in this industry, you must keep up with the ever-changing rules and regulations and new software.

When I see people advertise they do bookkeeping, it’s not just data entry we do and that’s it, there is so much more and way more behind the scenes work we do.

So if you do outsource your work to someone that mentions they do Bookkeeping, make sure you actually see their qualifications because I would hate to see business owners learning down the track that an amateur, someone that hasn’t a clue about the ins and outs of the bookkeeping industry to be looking at your books, paying your staff, because as the old saying goes, ‘you pay peanuts, you get monkeys’.

If you are looking for a Bookkeeper that is highly experienced and easy to work with, then please give me a call, my details are below.

Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au

COVID-19 CRISIS Apprentice stimulus

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So the Government has now brought out a website called the Stimulus Package today 26th March 2020 https://www.stimuluspackage.com.au/stimulus/supporting-apprentices-trainees/

So if you employ an apprentice or trainee, you may be eligible for a wage subsidy of 50% of their wage paid from 1st Jan 2020 to 30th September 2020, and you can register for the subsidy from early April 2020.

I think it’s a great incentive to assist businesses especially now more then ever to retain their apprentices and trainees. Employers will be reimbursed up to a max of $21K per eligible apprentice or trainee ($7K per quarter). Irrespective of size, this will enable eligible out of trade apprentices or trainees for the subsidy. But it does state the apprentice or trainee must have been in training with a small business as at 1 March 2020.

Check out the link above for more details.

Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au

 

 

COVID-19 Crisis: Small businesses can defer loan repayments for 6 months

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As of Monday 23rd March 2020, banks are allowing small-businesses to defer loan repayments for 6 months

This is a great incentive brought in by the Australian Banking Association and one of necessity.  

What that means is due to the COVID-19 virus the banks have allowed small businesses to defer any loan repayments for the next 6 months. This relief package is estimated to apply to $100 billion small business loans, but it will look at putting as much as $8 billion back into the economy.

This lifeline will provide small businesses the option of keeping their doors open to customers and keeping their staff in jobs, which is brilliant.

If you are a small business and have loan repayments, you can contact your bank as from Monday 23rd March to discuss the support package.

Small businesses are the backbone of Australia, due to the serious impact the COVID-19 will have on the economy, not only now but in months down the track, this will certainly bring relief to many small businesses in Australia.

Let me know if you have any questions about anything during this time, I am only a phone call away.

Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au

 

COVID-19 CRISIS, remember there are other things to consider!

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Apart from making sure you are healthy and in self-isolation and following good hygiene practices, when it comes to your business, there are a few important things to consider.

  1. Superannuation is still payable and due, so consider paying superannuation each pay run, or monthly to ensure better cashflow
  2. Ensure your supplier payments are all paid and up to date
  3. If you can, pre-pay your electricity, rent, mortgages and phone bills, whilst you can for at least 3 months in advance
  4. Talk to your staff daily, ease their mind, plan for the now and the future. Organise staff to work from home if possible.
  5. If you have staff in the office, make sure that staff are practicing good hygiene habits
  6. Review what you have in the bank to pay your liabilities at least for 2 months including wages
  7. Ensure to review staff entitlements if they do need to self-isolate
  8. Diversify your business, it may be easier than you think! What can you do differently but still operate your business? What other services can you offer
  9. Talk to your Finance Providers. What deferrals or loan reductions could they put in place for you today?
  10. Get the right information from the ATO Link, Fair Work and Department of Health
  11. Minimise as much as possible customer contact
  12. Review your business insurance and make sure you are covered
  13. Seek other suppliers within Australia if you have been sourcing previously from overseas.
  14. Review your Business insurance to see what you are and are not covered for.

Maree’s Mobile Bookkeeping can assist in the following areas

  1. Provide assistance with communicating with the ATO – assistance with payment plans, deferrals
  2. Help communicating with suppliers about deferring payments or putting payment plans in place
  3. Review your expenses
  4. Chase outstanding debts
  5. cash flow analysis planning know what’s coming in and out
  6. Understanding HR obligations
  7. Bookkeeping and BAS requirements
  8. Stay on top of your bookkeeping is now more important than ever before

If you need any help with any of the above or anything else my contact details are below.

Maree Punzet
Maree’s Mobile Bookkeeping | Over 20 years Bookkeeping experience | Qualified BAS Agent
M: 0429 363 047
www.mareesmobilebookkeeping.com.au