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Author: Harris Black

New Financial Year Housekeeping

by Harris Black

With the end of the financial year complete please note the following essential financial housekeeping actions affecting you and your business.

  • Before rolling-over your accounting software ensure your Single touch payroll (STP) finalisation declaration for 2022-23 is correct and has been submitted to the ATO.
  • STP finalisation declarations need to be made (extensions can apply for closely held employees) on or before 14 July 2023.
  • Include Reportable Fringe Benefits Amounts (RFBA) for employees of more than $2,000 in STP finalisation.
  • Employees will be able to access their Income Statement through their MyGov Account after STP finalisation completed.
  • The Superannuation Guarantee (SG) rate increased on 1 July 2023 from 10.5% to 11%. Please ensure to review your payroll software to confirm this change has taken effect.
  • Quarterly (1 April – 30 June) super guarantee payment due on or before 28 July 2023. Most superannuation clearing houses recommend submitting quarterly super payments at least 1 week prior to the due date to allow sufficient processing time.
  • Taxable payments annual reports (TPAR) for payments to contractors due on or before 28 August 2023. Have you correctly classified your employee or contractor employment relationship. What are your PAYGW withholding, superannuation guarantee, payroll tax and workers compensation obligations?
  • The Annual Payroll Tax Return/Reconciliation must be lodged by 28 July 2023 (NSW) and 21 July 2023 (QLD, VIC, NT, WA, Tasmania).
  • Should you have any areas of concern or you need clarification on any issues please do not hesitate to call our office.

Meet The Staff – Ruby Spicer

by Harris Black

Introducing Ruby Spicer, our new Administration Assistant at Harris Black. Currently studying accounting at UQ (University of Queensland), Ruby brings a love for Carbs, Grey’s Anatomy, and diverse hobbies.

Ruby’s love for pasta shines through as she reveals that her favourite meal would be Gnocchi with Napoli sauce. In her free time, she enjoys going to the gym, baking delicious treats, and indulging in TV shows. While not related to anyone famous, Ruby would love to share a meal with Lady Diana, her grandfather, Angelina Jolie, and Mo Gawdat.

In the coming months, Ruby looks forward to celebrating her brother’s graduation from ADFA (Australian Defence Force Academy). She can give a spontaneous 40-minute presentation on “Grey’s Anatomy” and boasts about the fact that she has watched all 19 seasons three times though. Ruby loves to make dishes like bruschetta, tomato soup, espresso martinis, and brownies. She speaks some French, German, and Norwegian. She hopes one day that older hairstyles like Lady Diana’s will come back in fashion.

Ruby dreams of living in Norway in the summer, the Maldives in the winter and would choose to spend the day at a puppy café with loved ones. Tennis is her favourite sport, and she has had the privilege to watch Serena Williams play at the Australian Open.

If Ruby won a million dollars, the first thing she would do is buy a house. If she won five million dollars today, she would happily retire and spend more time with her family and friends. Her desired superpower is flying, and she finds inspiration in Nelson Mandela’s quote, “Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness, that most frightens us.”

We eagerly look forward to witnessing the ongoing impact Ruby will make and the growth she will achieve within our firm.

Important Tax Dates

by Harris Black

14 August 2023

  • Lodge PAYG Withholding payment summary annual report for:
    – Large withholders whose annual withholding is greater than $1 million
    – Payers who have no tax agent or BAS agent involved in preparing the eport

21 August 2023

  • Lodge and pay July 2023 monthly business activity statement

25 August 2023

  • Lodge and pay quarter 4, 2022-23 activity statement if you lodge electronic

28 August 2023

  • Lodge and pay quarter 4, 2022-23 Superannuation guarantee charge statement if the employer did not pay enough contributions on time. 

Your One Page Plan

by Harris Black
By Renee Bettenay

The new financial year is upon us, 2023-2024 is a great time for business owners to take a step back and think about what they can do to improve on previous years.

The beginning of the financial year offers a sense of renewal, a chance to take time and hopefully perform better going forward, both personally and in business. Even if you are satisfied with your business’s performance, it is no excuse to sit back and leave things to be done how they were before. There is always room for improvements in every business, so with that in mind watch our video below on how you might use a”One Page Plan” to gain business momentum in making improvements for the year.

Personal Resilience Diagnostic

by Harris Black

Having good personal resilience is about how well you bounce back from adversity in your personal or business life. How can you improve your own levels of resilience?

Complete these 25 questions (it should only take you 5 minutes) to identify from 10 factors the top 3 areas that are working well and top 3 areas you need to work on to improve your level of personal resilience. You will also have the ability to see how you compare to the global benchmark (average scores of all completed diagnostics) on each of the 10 factors. If completing on your mobile phone ensure it is held landscape for ease of use.

HB Tech Space: Deputy – Empowering Businesses with Streamlined Workforce Management

by Harris Black

Are you tired of the manual administrative tasks that bog down your business operations? We understand the strains that come with managing schedules, tracking employee hours, and handling payroll and accounting manually. But fear not, as we have an exciting solution that can alleviate these strains and streamline your processes: Deputy, a leading workforce management software.

Deputy, offers a comprehensive solution to simplify employee scheduling, time-tracking, leave management, and communication. By integrating with Xero, Deputy takes your business efficiency to a whole new level.

Let’s delve into the details of how the Deputy can transform your business operations:

Simplified Scheduling: Create, modify, and share schedules with ease, while the integration ensures your employee data remains up to date in both systems.

Accurate Time Tracking: Track employee hours effortlessly, eliminating manual data entry and ensuring precise payroll information.

Streamlined Leave Management: Automate leave calculations and approvals, while maintaining compliance with employment regulations.

Seamless Payroll Integration: Transfer employee data seamlessly from Deputy to Xero, reducing errors and saving you valuable time during payroll processing.

Award Interpretation: Simplify compliance with modern awards and help protect your business.

New Hire Onboarding: Manage your onboarding process within Deputy, without any paperwork.

Actionable Insights: Combine Deputy’s reporting capabilities with Xero’s accounting features to gain valuable insights into your labour costs and make informed decisions.

To learn more about this software, visit Deputy’s website, where you’ll find detailed information on features, pricing, and customer testimonials.

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