Entries by surftax

Christmas Holiday Closure Times

STS Accounting Group will close at 1 pm on Wednesday 22 December and re-open at 8.30 am on Monday 10 January 2022. Thank you for your support over this challenging year. We wish you a Merry Christmas & a Happy & Safe New Year and look forward to assisting you with your financial needs in […]

Can you claim your Christmas Party?

Fringe benefits tax and Christmas parties As with any benefit that a business provides to staff that is outside the safe definition of “salary”, the question of whether it is a fringe benefit (and therefore taxable) or not (therefore not taxable) will need to be addressed. Christmas-time entertainment up to the value of $300 for […]

Book Recommendation

  Rich Dad Poor Dad by is Robert T Kiyosaki is the story of Robert growing up with two dads: his real father – a poor dad, and the father of his best friend – a rich dad; and the ways in which both men shaped his thoughts about money and investing. The book explodes […]

Do you have a Study or Educational Loan?

The government provides financial assistance (in the form of loans) to people undertaking higher education, trade apprenticeships, and other training programs. The ATO have a responsibility for the collection of these loans through the tax system. These are income-contingent loans and when your income exceeds the repayment threshold, you will have to start repaying your […]

How to choose an Investment

To invest well, you need to find investments that fit your financial goals, investing time frame, and risk tolerance. Get an overview of the different types of investments so you can find the right ones to reach your financial goals.   Types of investments and returns Investments can be classified as defensive or growth investments. […]

Stapled Super Funds

From 1 November 2021, if you employ new staff and they don’t choose a super fund, you may need to request their existing super account (‘stapled super fund’) details from the ATO. A stapled super fund is an existing super account linked, or ‘stapled’, to an employee so it follows them as they change jobs. When […]

Have you thought about Succession Planning?

Succession planning is the process of building a strategy for replacement or passing on leadership roles. It is used to identify and develop new, potential leaders who can move into leadership roles when they become vacant. What will happen to your business when you leave? Nobody likes to think about it, but it’s inevitable that […]

READ | WATCH | LISTEN

This month we’re finding out what our newest accountant Andy Nguyen likes to Read, Watch & Listen to… when he’s not in front of the computer crunching numbers and playing with his gorgeous daughter, Elise,  pictured below.     WHAT TO | READ    How To Win Friends & Influence People written by Dale Carnegie. […]

Support for Businesses Re-Opening

The Victorian Government is providing support to businesses during reopening. A jointly funded package of grants from the Commonwealth and Victorian Governments will support thousands of small and medium-sized businesses through the next six weeks at which point Victoria is expected to reach 80% vaccination. The funding package of up to $2.27 billion announced will support […]

Review STS Accounting Group to WIN

Olivia Ward & Bradley Green – Congratulations lunch is on us!! Thank you to everyone who has reviewed STS on Google & Facebook! We’re so pleased to hear that our service is helping you to achieve your goals in your business & personal finances! It’s not too late to share your experience with us. We’d love […]

9 Reasons You Should Consider an Audit

The team at STS Accounting Group, are the experts in annual auditing services. With nearly 30 years of experience in providing audit reports, we can ensure your business, self-managed super fund, not-for-profit or community group is well equipped to respond to legal and stakeholder requirements. But why should you consider an Audit?   There are many […]

$2000 Vouchers for Outdoor Hospitality and Entertainment Providers

The Victorian Government’s $14.5 million COVIDSafe Outdoor Activation Voucher Program will provide more than 7000 Victorian businesses, community organisations, not-for-profits and trader associations with vouchers for $2000 to support initiatives such as outdoor hospitality and entertainment. The COVIDSafe Outdoor Activation Voucher Program will assist businesses across the state to move activities outdoors by supporting their investment in equipment, permits and other tools needed to offer safe […]

Be Quick – Construction Industy Grant Closing Soon

The Victorian Government’s Business Costs Assistance Program Round Four – Construction provides one-off payments to eligible employing and non-employing businesses in the construction sector that were operating in the following local government areas at the time of the restrictions: Metropolitan Melbourne The City of Greater Geelong Mitchell Shire Surf Coast Shire Businesses must have incurred […]

Are you protecting your Identity?

Your personal information is an important part of your identity. You need to keep it safe. To commit an identity crime, thieves only need some basic details such as your name, date of birth, address, myGov details, or tax file number (TFN). They can use this information to: access your bank account and buy things […]

What type of retirement planner are you?

CHOICE and Research team Fiftyfive5 have recently surveyed Australians on how they plan for their retirement. Their research will be used to develop a set of retirement income targets that will give people a better idea of how much they’ll need to save to meet their retirement needs. Their nationally representative research has already revealed […]

Have you tried Spotify Ads in your Business?

Spotify is a digital music, podcast, and video service that gives you access to millions of songs and other content from creators all over the world. Basic functions such as playing music are totally free, but you can also choose to upgrade to Spotify Premium.   Spotify also offers audio, video, and display ads on its music […]

Fixing a mistake on your BAS

Correcting a mistake made on an earlier BAS is different from making an adjustment. An error or mistake relates to an amount that was incorrect at the time of lodgment and an adjustment relates to a reported sale or purchase that was correct at the time of lodgment, but something occurred later that changed the […]

ATO Key Dates for October 2021

21 Oct 2021 September Monthly BAS due 28 Oct 2021 September Quarter SG due September Quarterly BAS due September Quarterly PAYG Installment due   If you are uncertain of dates specific to your business, please contact your STS Accountant.

“She’s On the Money” Podcast

Looking for a finance podcast that’s light and bright and has a few giggles? The She’s On the Money Podcast is the one-stop destination for millennials who want financial freedom (without skimping on brunch) says host Victoria Devine and it is all very upbeat! The aim of the podcast is to change your relationship with […]

What is a Self-Managed Super Fund?

In the last 20 years, superannuation has become an important part of the wealth creation and retirement planning objectives for all Australians. Self-managed super funds (SMSFs) are a way of saving for your retirement. The difference between an SMSF and other types of funds is that the members of an SMSF are usually also the […]