Procure Accounting

Here's some advice for boosting your business success: enlist the expertise of a management accountant 📊. Instead of dwelling on the past, shift your focus to future strategies. Make sure you understand your numbers inside out and take the reins on your cash flow. This isn't just about managing finances; it's about crafting a future filled with savvy decisions and lasting growth. Consider your management accountant as the guiding hand steering your business toward triumph.

Whether you're just starting your business or you've been at it for a while, Procure is here to help you every step of the way with the right tools and expertise.

🗓 https://calendly.com/procureaccounting/get-started
📞 (03) 9059 8137

Increased Threshold for Self-Serve Payment Plans

The ATO has increased the self-serve payment plan threshold from $100,000 to $200,000. Advice to small businesses continues to be, where possible, they should pay the tax they owe in full and on time to avoid interest accruing. Interest will continue to accrue until the debt is paid and will only be remitted in exceptional circumstances.

However, if a business is experiencing financial difficulties, they may be eligible to set up a payment plan. When establishing a payment plan, a business will be required to consider their ability to manage their instalment payments. The ATO is committed to supporting small businesses that are experiencing financial difficulties to get back on track. We encourage these businesses to contact the ATO or their registered tax or BAS agent before the payment due date, or as early as possible for an existing debt, to discuss the support available.

Further information on payment plans for businesses is available on the ATO website. Have questions? Call us at (03) 9059 8137.

Distinguishing between casual and permanent employees is crucial for accurate payroll processing. Casual workers are employed irregularly or intermittently, without guaranteed hours. This distinction is essential for proper compensation, considering casual loading compensates for the absence of benefits like paid leave.

More info see comments below or read our blog https://procureaccounting.com.au/casual-workers-guide-employment-and-payroll

What questions do you have about casual employment and payroll processes? 🤔 Drop them below, and we will provide insights. Or call us now at (03) 9059 8137.

🌟 Hello 2024!

A warm welcome back to everyone who are back at work today. Coming back to work after such a break can be a bit overwhelming - this is a quick reminder to take it easy.

And for those still enjoying their holiday, soak it all in! Take all of the advantages to recharge and come back feeling all fresh and ready.

Here's to an awesome and successful year ahead 🚀