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You may think that doing your own payroll for a few staff can save money, but you should save time for your business.Time Taking Task:Obviously, if you are from a non-finance background then you need to spend more time to calculate the work hours, and deductions, setting up the pay in the Ban ...
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Reasonable travel and overtime meal allowance amountsThe ATO has released its annual ruling setting out the amounts it treats as reasonable for 2023-24 in relation to employee claims for:> Overtime meal expenses: The reasonable amount is $35.65.> Domestic travel expenses: ...
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The following compiled list of mistakes that small businesses need to avoid will help you improve your business’s financial position. When these common mistakes are avoided, you will be able to save time and money while also maintaining your books in order.Not Knowing Your Expenses:This is ...
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Beginning on 1 July 2023, SMSFs will be subject to new requirements for the submission of the Transfer Balance Account Report (TBAR).With effect from 1 July 2023, the ATO will eliminate the TSB threshold and mandate that all SMSFs submit their reports 28 days following the end of the quarter in whic ...
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In today's interconnected global economy, companies seek opportunities beyond their national borders to access international capital markets and expand their investor base. Global Depository Receipts (GDRs) have emerged as a crucial financial instrument that facilitates cross-border investment and c ...
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Tax return preparation and financial statement reporting can be a troubling task, especially for individuals and businesses. The complexities and ever-changing regulations make it crucial to ensure error-free submissions. In this blog, we will guide you through the crucial steps towards preparing an ...
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Carisma Solutions
Typically, a TBA credit arises on the commencement of a pension. There are special rules that modify the timing of when a death benefit pension is credited to a recipient’s TBA in respect of a death benefit:The Reversionary Pension to dependent becomes entitled to it immediately upon person’s de ...
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A Green Bond is a type of fixed-income instrument that is specifically designed for funding climate and environmentally friendly projects. The main feature of green bonds is that they provide transparency and accountability regarding the use of proceeds. The issuers provide detailed information on ...
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In today's fast-paced, technology-driven world, the role of an accountant is undergoing a significant transformation. The traditional image of an accountant as a number cruncher sitting behind piles of paperwork is rapidly fading. Tomorrow's accountants are visionary professionals equipped with cutt ...
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Having a clear picture of your budget to see where you need to shift some of your priorities is essential for the business life to run normal. It helps you to pay attention to how your spending has affected your business over the past few years and how far it has helped you to achieve or deviate you ...
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