Accounting & Bookkeeping

Focusing on Profit

We’ve talked about this before, but it’s worth revisiting because, although it sounds basic, it’s surprisingly easy for business owners to lose sight of the fundamentals of profit. At its core, net profit is the bottom line—the actual profit that remains after all expenses, including operating costs, taxes, and interest, have been paid. Understanding Net […]

Four tax changes to consider before 31 March

Ensure you’re up to date before filing your EOFY returns. #1: Income tax thresholds Effective from 31 July 2024, personal income tax thresholds changed. Composite rates to account for this applied for the income year to 31 March 2025. – 10.5% applies up to $15,600 (previously $14,000) – 17.5% applies from $15,601 to $53,500 (previously […]

Wrap up 2024 and Start 2025 Strong: Payroll & Financial Must-Dos

As the year winds down, it’s the perfect time to finalize payroll, plan ahead, and tackle key financial tasks. Proper preparation ensures a smooth holiday season and sets your business up for success in the New Year. End-of-Year Payroll Checklist Annual Leave: Employees are entitled to four weeks of paid leave annually. Set clear deadlines […]