Blogs and Posts

Tax - Tax Return 201801/07/2018

Ready to fly?

It's that time of year again, to dust off the receipts piling up in the corner and hopefully, convert them to something valuable, i.e. a tax refund. To assist you in compiling the documentation you’ve collected during the year, email us to receive a detailed checklist of information required to complete your 2018 tax return.


Or pop-in to our office by making an appointment!

Cloud Computing - API, the unsung hero of Cloud services and development15/06/2018

What we see is not what we believe

Behind the UI (User interface), the flashy curtains of fancy graphics, interactive buttons and texts to make first impression worth to capture the potential customers, the unsung and hidden treasure lies that make up what users see upon using the cloud technology. API (Application Programming Interfaces) achieves what the interface may not show and becomes key factor for competitive edge and success by bringing features that is very specific to business.


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Xero - Announces new features to Small Business Accounting07/06/2018

Brings Small Businesses and advisers closer, and further

Xero has announced the wave of new features at Xerocon Atlanta 2018, new products that will provide businesses and advisers tools to grow their business. New features include automated bill entry, improved bank reconciliation, new time tracker for Xero projects to manage works easier and automate and streamline client contact management to save time for administration to increase productivity.


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Cryptocurrency - Scottish hospital opens treatment of Cryptocurrency Addiction28/05/2018

Gambling habit will also become susceptible to fluctuating cryptocurrency market

According to experts of health, crypto trading not only can become a behavioural addiction by constantly staring at monitors and screens for fluctuating market value of their trades, the people with addictive personalities are also susceptible to cryptocurrency addiction. Castle Craig Hospital in Scotland provided an argument that addiction of cryptocurrency and gambling shares similar traits. While it may not be recognised as completely new condition, but it may be treated as another form of gambling addiction, however it is yet to know that there will be treating programme for gambling addiction will always be effective.


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Payroll - Single Touch Payroll is around the corner22/05/2018

Ready up the new payroll reporting method

Businesses with 20 or more employees are expected to have their new payroll reporting system to be implemented and commence by next financial year (1st July 2018). With this reporting method, ATO will have instant access to payroll details of employees. While allowing instantiation of annual payroll summary reporting to employees, on the other hand will become strict for companies that are having difficulties with cash-flow, or others that attempt to fudge payroll, as new reporting obliges companies to provide up-to-date, accurate status of employees' payroll. Preventing delay or any trickery, understating of payroll and to encourage companies to keep their bookkeeping in order. As for smaller companies (19 employees or lower), they are expected to implement the same reporting from 1st July 2019.


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IT - Open Banking lands on Australia16/05/2018

Ease of access to your financial data, security is still in the open

Australia is to begin phased implementation for Open Banking based on model standard deployed by UK from July 2019. Open banking is to allow ease of access and greater control of the data that banks and other financial institutions currently hold on. Not only it will mitigate the time and cost for excavating, and transmitting the users' financial data, allows improved access to data will allow users to make better and more informed choices about the financial products. However the question in regards to security for data is still in the open and is to be addressed as Open Banking model would be developed for Australian standard.


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IT - Cyber Insurance comes to play in event of data breach?30/04/2018

Cannot afford to lose even further

As data breach will not only put users in harm, it will become a nail on the coffin for companies that have been data breached. They would lose customers, increased costs to improve the security measure and clean-up for the incident, reputation damage which will affect on long run, and lastly they could be subjected to class-action lawsuit. Although Notifiable Data Breach scheme is meant to be minimise the damage by steadily report to Office of the Australian Information Commissioner, this will also may result client to get better understanding on what has happened to their personal information, and the dangers they are exposed to. To mitigate the further damage should the lawsuit occurs, the companies have started or planning to implement the cyber insurance within next 12 months.


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Xero - Launches Beautiful Business Campaign27/04/2018

Chronicle of evolution of Xero to business platform that allow small business to grow

Xero launches their newest phase of their campaign that promotes the flexibility of remote working, to reclaiming valuable time and the chance to focus on the important things in life, enabled by streamlined accounting and business processes by the software that Xero offers. The phase one of campaign featured out-of-home advertising at more than 2,000 locations across Australia and a sponsored podcast series.


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IT - Since Notifiable Data breach scheme came to play 11/04/2018

OAIC announce first quarterly report on Notifiable Data Breaches

On 22nd of February 2018, Notifiable Data breach scheme and Business scheme have came into force by OAIC (Office of the Australian Information Commissioner). The OAIC has issued first quarterly report on data breach, and it is been confirmed that they have received 63 major data breaches within first 6 weeks of scheme came in to play, affecting 10000s of individuals.


Main article and report issued by OAIC

Cloud Computing - Microsoft Launch Training Module to train up to 5000 Australian Public sector workers by 2020 28/03/2018

Opportunity to boost well needed knowledge as times to come

The shortage of skills and knowledge in cloud technology has been biggest drawback for Australian industries and public sectors to take initiative on provide better services and productivity. To address the issue Microsoft plans to train up to 5000 public sector workers to boost their skill on cloud computing to deliver digital services to Australian citizens, and to give opportunity for Public Sectors to modernise and transform digitally.


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Cryptocurrency - Beware of Scammers19/03/2018

Impersonator of tax officers steal bitcoins

Warning to investors out there, Bitcoin scammers are now impersonating as ATO officers to target taxpayers to make payment for fake tax debts. So far $50000 worth of Bitcoin was lost. Taxpayers are to be stay alert and not to respond to any of suspicious emails or notices, make payments to platform that are not legitimate and keep private information to yourself, and in safe place.


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IT - Trends of Outsourcing IT13/03/2018

Select your whetstone of competitive edge

Organisations and enterprises are pressured to globalise the services to boost their competitive edge, the key is to anticipate and understand the trends and innovations to increase the chance of successful outsourcing. Check out the list of anticipated trends of software IT outsourcing this year.


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Xero - (RESOLVED) Performance degradation of key database upon server update12/03/2018

What's the sitrep?

Xero has conducted server upgrade to their key database, as result the users have experienced issues of slowness or cannot access to reports and services. For more information and status on issue, please read news post by xero


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Payroll - Urge the decisions to use Single Touch Payroll06/03/2018

What's the rush?

This month, ATO warned small businesses to make preparation for Single Touch Payroll enabled software, which to be introduced on July this year. ATO urges businesses to give head count of employees by next month, and by 1st July the businesses with over 20 employees will need to have the system implemented and provide their payroll and superannuation information through Single Touch Payroll.


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Cloud Computing - Expertise to leverage benefit 05/03/2018

Nothing comes easy

Cloud technology is heralded as "game changer" that would bring efficiency and benefits to enterprises. But the shortage of skills and knowledge in cloud computing are being biggest drawback upon migration and deployment the cloud, causing headaches and revenues lost to enterprise. To make cloud technology to truly leverage the benefit, enterprise must take human expertise to account.


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Cryptocurrency - ATO will chase bitcoin investors 28/02/2018

No where to hide

Bitcoin is not treated as money, but as Asset that has to be taxed. With growing international movement in recent weeks to crack down on tax avoidance of Bitcoin investors, ATO (Australian Taxation Office) joins the fray of chasing down tax dodging bitcoin investors for their tax liabilities. Investors are confronted with anti-money legislation as the effectiveness of anonymity of cryptocurrencies are starting to fade, and blockchain technology cannot hide them forever.


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CPA - How can CPA help family-run businesses26/02/2018

To form relationship with trust and confidence

Finance and accounting on family-run business is usually put on shoulder with employee or member with most proficient skill in those area. However not fully trained and skilled in accounting works may become a cause of misunderstanding and mistakes. Relying on trustworthy and skilled CPAs will be great assistance and to tip the scale towards success in running family-business


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Tax - Work-related expenses in 2017: have you claimed rightfully? 22/02/2018

Pay the price for over-claiming

$7.9 billion was claimed by tax payers under 'Other work-related expenses' on previous financial year. ATO (Australian Taxation Office) find this suspicious, and is still sifting through the tax claims for any sign of outright false claims. Get those receipts ready for those who have officially "on notice" as inspections may be expected.


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IT - Notifiable Data breach scheme and Business22/02/2018

Prevention is better than cure

While IT has made the data keeping very handy, there is always fear of malicious ones breach the system and get their hands on the important data and information. Data breach is definitely not something that business and companies to be caught publicly or to be spoken/reported without their reputation at risk. The reports have revealed that 90% of ASX listed businesses were in fact exposed to data breach in 2016, and controversy of manipulation of truth regarding data breach. OAIC (Office of the Australian Information Commissioner) has finally made a move and issued a rule of " Notifiable Data Breach scheme" to oblige companies with $3 million turnover to report any sign of data breach, or heavily fined for noncompliance.


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Death and Taxes 31/07/2015

These are the two certainties in life.

Sure, you can run…but sure as sure…you can’t hide!
And between you and me, I’d reckon the ATO is a lot worst. After all, what else can Death take besides your life?
Delaying (tax wise) is always an option I suppose, but consider the costs - the first 28 days will incur a penalty of $170 and it only goes up.
Interest can also be charged on any amount owed to the ATO after 31 October at a rate of 11.86% per annum.


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Give your startup a chance to succeed! 15/01/2014

You have great ideas.

Time and time again, you see something you thought about years ago become a market success, today.
The difference? They put their time and effort to making it come true.
You did not. Time to change that. Too difficult you say? Not the right time?
As the saying goes, the best time to plant a tree is 20 years ago. The next best time is now.


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