What is Superstream

What is Superstream

SuperStream is the Federal Government’s new standard for creating and sending superannuation contributions data and payments between employers and super funds. A main aim of SuperStream is to ensure employer contributions are paid and processed in a consistent, timely and efficient manner.

The deadline for SuperStream for large employers (20 or more employees) is 31 October 2015 and small employers (less then 20 employees)  is 30 June 2016.

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Why do you need a bookkeeper

Why do you need a bookkeeper – these are just some of the reasons:

1. You need a bookkeeper so you can focus on running your business and not worry about your bookwork.

2. Meet Australian Taxation Office requirements.  This is a must especially if the taxation department was to one day audit your business.  You will need everything up to date, correct and in order.

3. You save on accounting fees because all your bookwork will be in order, making it quicker and easier for your accountant.

4. Regular reporting keeps you up to date with the financial side of your business.  Each month or quarter you can assess your business, find out if you’re making a profit or loss and make any relevant changes if needed.

5. You accounts will be ready and in order if you need to make a quick business decision or you need to apply for a loan.

Reduce your time spent on bookkeeping and routine administrative tasks, giving you time to concentrate on running and building your business.

Because I have had over 5 years experience running a family business I understand the difficulties business owners face and understand that the dollar coming into the business needs to be used efficiently.  That is an advantage that I bring to your business.

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Living away from home allowance

The government will be making a few changes to the Living Away From Home allowance come July.

Access to the concession for temporary residents will be limited to those people who maintain a residence for their own use in Australia, but are required to live away from work. These workers are known as “fly-in, fly-out”.

Also, employees will be required to justify their spending on accommodation and food beyond the statutory amount, and a year limit will be placed on how long an employee can receive the benefit at any one work location.

These changes will affect anyone signing an agreement after May 8, 2012, and from July 1, 2014 for any contracts before that time.

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