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Tax Agent Services Act 2009 – Disclosure Statement

by | Jul 22, 2024 | TPB

Tax Agent Services Act 2009 – Disclosure Statement

We are a registered BAS Agent as required in order to provide BAS Services (including advice, interpretation, interactions with the ATO, lodgement of forms in respect to GST, BAS, Payroll and Superannuation Guarantee).  Any practitioner providing these services must be a registered BAS Agent or Tax Agent.

We are subject to the Code of Conduct prescribed in the Tax Agent Services Act 2009 and additional determinations. The Tax Practitioners Board (the board) regulates Registered Agents. We are also required to adhere to the ATO’s requirements in our interactions with their Online Services and use of other relevant software.

We advise as follows:

I / We advise that to the best of our knowledge and based on all information known to us, we

  • Have not committed a prior material breach of the Act or instruments made under the Act.
  • Are not being investigated by the Board on any matter (alternatively “..of a material breach).
  • Are not subject to any sanctions imposed by the Board.
  • Do not have any conditions applying to our registration.
  • Have not been disqualified from providing services.
  • Do not have as employees nor engage with others who have been disqualified from providing services;
    (Alternatively or in addition: “have appropriate and required processes and systems of supervision and quality control of all work performed on our behalf”)
  • Have not had any charge or conviction relating to an offence relating to fraud or dishonesty.
  • Have not had any imposition of a promoter penalty under the tax law; or
  • Had any charge or conviction relating to a tax offence.

We are not aware of any matter that we have not otherwise discussed or presented to you that would significantly influence your decision to engage or continue to engage our services.  If there is anything you would like to discuss, please contact us.

Register of Tax Agents and BAS Agents

The Board maintains a public register of Tax Agents and BAS Agents.

The register contains registration details of registered, suspended and deregistered tax and BAS agents.

The register is available at https://www.tpb.gov.au/public-register

Guidance on how to use the Register is available at https://www.tpb.gov.au/help-using-tpb-register

Complaints

We note that we hope that any concerns you may have with our service are able to be discussed with us first to ensure we are able to respond to any misunderstanding or any performance issues.

Complaints about the services you receive can be made directly to the Board.

The Board’s complaints process is explained, and the online form available at https://www.tpb.gov.au/complaints

This information is required to be provided by TASA2009 Sn 45(2) and is required when an entity is considering to engage or re-engage a registered tax agent or BAS Agent or upon request. 

This information is true and correct at the time of making this statement.  Any change to this information must be updated within 30 days of us becoming aware of any change matter.

 

Essentials to Strengthen Your Small Business

by | Apr 5, 2024 | Uncategorized

Flexible, Free Online Courses from the ATO

Essentials to Strengthen Your Small Business is a flexible and free online learning resource designed by The Australian Taxation Office (ATO). The resource offers a comprehensive set of online learning resources designed to empower small businesses, educators, and tax professionals. These courses cover essential topics crucial for business success, making them invaluable tools for improving business knowledge and compliance.

With a total of 21 short courses currently available, these resources cater to various stages of the business lifecycle. Whether you are just starting out, or looking to enhance your existing operations, there’s a learning pathway suitable for everyone.

Covering crucial topics ranging from starting up and record-keeping, to tax compliance and business viability, these resources empower small business owners to confidently navigate complex financial landscapes. By equipping themselves with essential knowledge through these courses, small business owners can enhance their operational efficiency, meet regulatory requirements, and ultimately boost their chances of long-term success.

Director ID and Penalties For Not Applying

by | Apr 5, 2024 | ATO

Directors Who Have Not Met Their Obligations

The Australian Business Registry Services (ABRS) continues to engage with directors who haven’t met their obligations, and if you are a director of an organisation that has yet to apply for a Director ID, you may be contacted.

Actions that may be taken if a director fails to apply include:

  • Being asked to attend an interview with a delegate of the Registrar to explain why they haven’t obtained one, and/or
  • Referral to the Australian Securities and Investments Commission (ASIC) to consider investigation and prosecution.

Director ID Offences

It’s a criminal offence for a director to not apply on time, and information about the penalties will be included in the correspondence being issued. You can learn more about director ID penalties and offences from the ABRS website.

How Your Bookkeeper Can Help

Directors may request assistance from their Bookkeeper to support them in applying for a Director ID. However, as per law, an authorised agent can only assist with this process, but cannot complete the application on the director’s behalf. The fastest way is to apply online at ABRS.gov.au. If a director is unable to apply online, they can phone the ABRS on 13 62 50.

For more information about who needs a director ID and how to apply, visit ABRS.gov.au.
Setting Goals for the New Year

Setting Goals for the New Year

by | Jan 28, 2024 | Uncategorized

Some Thoughts For Business Owners

Business owners have a unique opportunity at this time of year to reflect on their company’s achievements and set the stage for financial success in the upcoming year. Here’s a comprehensive guide to help business owners establish meaningful financial goals and strategies for the new year.

Evaluate Current Business Performance: Before diving into goal setting, take a moment to assess your current business performance. Review key financial indicators, analyse operational efficiency, and identify improvement areas. This baseline assessment will provide valuable insights into the overall health of your business.

Define Clear and Measurable Objectives: The most effective goals are those that are specific and measurable. Instead of vague goals like ‘increase profits’, consider setting a more precise target, such as ‘achieve a 15% increase in net profit margins’. This clarity provides direction and facilitates easier tracking and assessment of progress.

Embrace Technological Advancements: Evaluate your current technology infrastructure and set goals for leveraging technology to improve efficiency. Explore new features in your existing software, automate routine tasks, and consider implementing advanced analytics tools and staying up to date with technological advancements that can position your business as innovative and capable of adapting to changing market dynamics.

Cultivate Stronger Customer Relationships: Building solid customer relationships is integral to business success – set goals for enhancing communication, responsiveness, and overall customer satisfaction. Consider implementing customer feedback mechanisms, personalised communication strategies, and loyalty programs to foster lasting relationships with your clientele.

Develop Robust Risk Management Strategies: Identify potential risks that could impact your business, and formulate strategies to mitigate them. This may include cybersecurity measures, disaster recovery plans, and contingency plans for unforeseen events. Proactively addressing risks ensures the resilience and reliability of your business operations.

Optimise Operational Efficiency: Time management is a critical aspect of business success. Set goals for optimising work hours, streamlining processes, and improving overall productivity. This may involve reevaluating workflows, delegating tasks, and implementing time-tracking tools to identify areas for improvement.

Establish Financial Milestones: Define specific financial milestones for your business. These could encompass revenue growth targets, profit margin goals, or expansion plans. Breaking down larger financial objectives into achievable milestones provides a roadmap for success and allows for a sense of accomplishment throughout the year.

Strategies for Business Success: Achieving success in the new year involves setting transparent, achievable, and measurable goals. Business owners find success by focusing on strategic objectives that not only elevate their company’s standing but also contribute to the business’s overall financial health. By adhering to clear and attainable goals, business owners can confidently enter the new year, fostering personal growth and positively impacting their businesses.

The Value of Time Management for Business Owners: In the pursuit of increased productivity and efficiency, business owners need to recognise the value of time beyond its immediate impact on work. The strategic use of productivity tools and best practices should aim to reclaim time for meaningful pursuits – reducing work hours, spending more time with family, or investing in continuous professional education.

The ultimate goal should be to work smarter, not just harder. By adopting a holistic approach to time management, business owners can strike a balance that enhances personal well-being and growth. This strategic use of time aligns with the broader objective of achieving success that encompasses both professional and personal dimensions, contributing to a more fulfilling and balanced life outside business.

Your Bookkeeper

A skilled bookkeeper is a vital partner in steering your business towards success in the upcoming year. Beyond managing financial records, they contribute by assessing your current financial position, setting measurable objectives, and optimising operational efficiency through technology integration. Their expertise aids in defining clear financial milestones, implementing risk management strategies and providing valuable insights for informed decision-making.

With a focus on cultivating stronger client relationships, a proactive bookkeeper becomes a key asset in navigating the financial landscape, ensuring your business is well-prepared, efficient, and poised for sustainable growth.

 

 

Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. Consult with legal professionals for personalized guidance based on your specific circumstances.

 

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Small Business Accounting with Ayu Bookkeeping and Accounting

Small Business Accounting with Ayu Bookkeeping and Accounting

by | Jan 28, 2024 | Accounting

Introduction

In the dynamic world of entrepreneurship, managing the financial aspects of a small business is crucial for success. Small business owners often wear multiple hats, juggling various responsibilities to keep their ventures afloat. Among these responsibilities, accounting stands out as a fundamental pillar that can significantly impact the overall health and growth of a business. In this blog post, we’ll explore the significance of small business accounting and how Ayu Bookkeeping and Accounting can be a valuable partner in this journey.

The Importance of Small Business Accounting

1. Financial Clarity

Small business accounting is not just about compliance; it’s about gaining a clear understanding of your financial landscape. Proper accounting practices provide insights into cash flow, expenses, and revenue, allowing business owners to make informed decisions.

2. Compliance and Regulations

Navigating the complex landscape of tax regulations and financial reporting requirements can be daunting for small business owners. Accurate and up-to-date accounting ensures compliance with local laws, helping you avoid penalties and legal issues.

3. Business Planning and Strategy

Ayu Bookkeeping and Accounting understands that small business accounting is not just about keeping score; it’s about setting the stage for future success. With reliable financial data, business owners can develop strategic plans, set realistic goals, and identify areas for improvement.

Ayu Bookkeeping and Accounting: Your Trusted Partner

1. Expertise and Experience

Ayu Bookkeeping and Accounting brings a wealth of expertise and experience to the table. Our team is well-versed in the nuances of small business accounting, offering tailored solutions that align with your unique needs and goals.

2. Time and Resource Efficiency

Running a small business demands your attention on multiple fronts. Ayu Bookkeeping and Accounting allows you to focus on your core business activities by efficiently managing your financial records, transactions, and reporting.

3. Technology Integration

In the digital age, leveraging technology is crucial for efficiency. Ayu Bookkeeping and Accounting utilizes cutting-edge tools and software to streamline processes, reduce errors, and provide real-time financial insights.

How Ayu Bookkeeping and Accounting Can Help You

1. Bookkeeping Services

Our comprehensive bookkeeping services cover everything from recording daily transactions to reconciling bank statements, ensuring that your financial records are accurate and up to date.

2. BAS and Compliance

Ayu Bookkeeping and Accounting takes the stress out of BAS season by providing proactive planning and ensuring compliance with ever-changing tax regulations.

3. Financial Reporting and Analysis

Gain a deeper understanding of your business’s financial health with our detailed financial reports and analysis. Make informed decisions and chart a course for sustained growth.

Conclusion

In the realm of small business, accounting is not just a necessity—it’s a strategic asset. Ayu Bookkeeping and Accounting is committed to being your trusted partner in navigating the financial landscape, providing expert guidance and support every step of the way. With our comprehensive services, you can focus on what you do best—growing your business.

Contact Ayu Bookkeeping and Accounting today to embark on a journey towards financial success for your small business!