Four Twelve Accountants

Summer holidays are in sight... but first the final ATO lodgment dates for 2023 (and a very important non-tax related reminder). ✨

We are here to help with your business accounting needs - reach out via the link in our bio.

The End of Financial Year is just over a week away! It's a great time to reflect on what has worked well and what you can learn from and improve on in your business.

We are here to help! Head to the link in our bio to book your next planning session with us. ☕

Welcome to June - the final month of the Financial Year! Here are your ATO dates for the month. As always, we are here to support you and your business. Feel free to reach out and book a meeting with us via the link in our bio. ☕

You may or may not have heard of the increase in indexation to to HELP balances, if you haven't, here is the news... If you have, here is another reminder.

Indexation on student HELP balances is increasing to 7.1% on 1 June 2023. 📚

To all of the motherly figures out there, we wish you an extra special day! 🥰

PAYDAY SUPER

Ahead of the budget this week, business have been put on notice that quarterly super payments are ending. Effective from 1 July 2026, employers are required to pay their super contributions every pay day.

For some businesses this means less things to remember three months later whilst for others this is push to take a closer look at their cashflow management.

Please reach out of if your business is affected or join newsletter via the link in our bio. 👩‍💻

We get it... All the different hats that are worn in your business, it's easy to slip on payment due dates, so here’s another reminder to pay your employees' March 2023 super payment (due April 28th 2023).

You can also sign up to our newsletter to get these important reminders straight to your inbox on our website (link in bio). ☕️

Now is a great time to start preparing for the end of the 2023 Financial Year! Save our checklist to help you along the way and head to the link in our bio to book your appointment. ☕

Here's to a relaxing long weekend and plenty of chocolate. We wish you and your family a very Happy Easter! 😊 🍫

We can all play a part in this one.

Through equity, we can reach equality.

When we embrace equity, we embrace diversity and inclusion.

We embrace equity to forge harmony and unity, and to help drive success for ALL.

Happy Internationals Women's Day to ALL.

The ATO state that you must keep your written evidence for five years from the date you lodge your tax return. Talk about a load of paperwork! 🙃

Tax time might seem like a million miles away right now, but we guarantee it always creeps up! Save, share and most importantly implement these 4 record keeping top tips to save you time (and a headache) at tax time! ✨

The new year is the BEST time to set new business goals, both financial and operational. Here are our top 5 New Year Business Goals. ✨

What are your business goals for 2023 or even for the month or quarter?

🚨 A new myGov scam is circulating 🚨

It is important to note that:
✨ myGov would never send a hyperlink requesting data through email or SMS.
✨ myGov is delivered by Services Australia.
✨ Always, always access myGov by typing in the web address yourself or via the app on your phone.

Welcome to your fresh new year and new week! Pop these important ATO lodgment dates in your brand new diary. 📔

** Employers who do not pay the minimum super contributions for the December 2022 quarter by this date must pay the Super Guarantee Charge (which is not tax deductible) and lodge a Super Guarantee Charge Statement.

Need some support? We are here - reach out via the link in our bio.

Here's to 2023!🥂

Happy New Year and many happy returns from the Four Twelve Accountants Team. We hope you're enjoying some well deserved time off! 😊

Happy holidays! We are officially switching our Out of Office on and will be back on the 16th of January 2023. Wishing you and your families a very happy holiday and new year season! ✨

We blinked and now it's December! Here are your final ATO lodgment dates for 2022 ... Enjoy the festivities! ✨

Congratulations to our Director, Amela who obtained an MBA from Melbourne Business School and graduated last month! ✨ 👏

You may have heard a new ATO requirement where all directors are required to acquire an ID number. Company directors need to verify their identity as part of a new director identification number (director ID) requirement. This is due November 30.

Below is our simplified step-by-step guide:

1. MyGovID (skip this if you have this. Note that it is different to myGov)
To set up your Director ID, you'll need to set up myGovID.

2. You're effectively setting up your proof of ID and you will be required to provide the following documents:
- Your tax file number (TFN)
- Your residential address as per ATO records

3. Plus details of two ATO-issued documents for further verification:
- A copy of your latest Notice of Assessment (NOA)
- Know how much your last tax return position was; ie payable amount, or refundable amount.
- Bank account details where refunds (if any) are deposited to.

4. Once you have this, you will be able to answer a few questions about your obligation as a director.

Unfortunately, we are unable to apply for this on your behalf. An application can be made online via the Australian Business Registry Service (ABRS) website.

The countdown to October 31 is on! If you need an extension, get in touch via the link in our bio. ✨

The Federal Budget is here and the first for Albanese’s Labour Government.
Some might say, the Labour government is balancing the pre-election budget we all witnessed earlier this year. ✨

Predicted economic growth has been significantly downgraded (we knew this from the RBA). This is mainly due to reduced household and personal consumption which is a result of high inflation, higher consumer prices, declining property prices, as well as the hottest topic of the year, rising interest rates.

We've recapped some of the key points for small businesses, as well as Treasurer Jim Chalmers' 5-point plan for cost of living relief. ☕️

Sign up to our newsletter via the link in our bio for more updates like this delivered straight to your inbox.

The ATO has identified the following industries as being at high risk of GST errors. They include:
✨ Construction
✨ Professional services
✨ Wholesale trade
✨ Retail
✨ Logistics.

Tip 4 is one we find the most common error.

Unsure of your GST, we can help, get in touch via the link in our bio. We are here to help!

Love is in the air and it smells like coffee....One of our favourite days of the year. 💌😉

Some handy tips on when you can claim GST credits. Click the save button on this one to refer back to! ✨

A little friendly reminder to check the details of the bills you pay / invoices sent to you by your supplier for validity. Believe it or not, omission of information is one of the most common errors we find which can void a tax invoice. 👀

Wondering when you can't claim GST credits? Swipe to find out and save for later to refer back. ✨

We've distilled the ins and outs of claiming car depreciation on cars over the 'limit' in your tax return. Swipe to learn more! ✨ 🚗