Tell me everything about Fringe Tax Benefits

Natasha at ND Accounting say, “Fringe Benefits Tax (FBT) is the most misunderstood tax.”   Since 2009 ND Accounting have been offering accounting and taxation services from the ground up working alongside individuals and businesses managing tax, developing business plans, managing the bookkeeping, identifying risks, putting the correct structures in place for taxation and implementing [...]

Bookkeeping for Small Business

Adopting some good habits in your small business can help control your cash flow and avoid costly errors.  Having a business plan is number one.    All businesses have cycles so it always good to project three to six months ahead when it comes to cash flow as you need to know how much money [...]

How do I get a Tax file number?

If you want to lodge a tax return in Australia you will need a tax file number (TFN) to do so.   What is a tax file number? TFNs, Tax file numbers are a nine digit number issued by the Australian Taxation Office.  Your TFN is yours for life and is the same number even [...]

How do I get a ABN?

If you are running a business you will need an ABN, even if your business is not going to register for GST.  However you must also register for GST if you are a business and your current/expected annual turnover is $75,000 or more (or $150,000 or more for a non-profit organisation) and/or you provide taxi travel (regardless of turnover).   [...]

Why write a business plan?

Many people dream of being their own bosses and starting their own business for a better lifestyle.   The unfortunate reality is 90% of start-up businesses fail. Business plans are not just created if you're seeking finance for your business, it's a tool for understanding how your business is put together.  A business plan should question [...]

E-mail Scams currently circulating in Wollongong

With more than 3 billion people now using the Internet, it is unsurprising that criminals are using this platform to steal your identity or money. ND accounting, an accounting and taxation service based in Wollongong, Illawarra have recognised how clever some of these scams are.  43% of reported scams are via email so ND Accounting [...]

ATO exposes dodgy deductions

Wollongong Accountant and tax agent shares Extract from The Tax Advisors Voice -  NTAA publication - September 2016 - With over eight million Australians claiming work-related expenses each year, Assistant Commissioner Graham Whyte is reminding people to make sure they get their deductions right this tax time. “Australians claim over $21 billion in work-related expenses each [...]

Tax Tips for Small Businesses in Wollongong

Small businesses take up 97 percent of all businesses in Australia.  Running your own business has many advantages however the truth is according to the Australian Bureau of Statistics, more than 60 percent of small businesses cease operating within the first three years of starting. ND Accounting supports hundreds of start-up businesses in Warrawong, Shellharbour [...]

What is SuperStream – Insights from ND ACCOUNTING

What is SuperStream? Natasha is the principle of ND Accounting and taxation service based in Warrawong and offers tax tips and advice to local businesses in Wollongong, Shellharbour and afar on money matters such as business structures, bookkeeping, accounting, Self Managed Super Funds and tax for both individuals and businesses. SuperStream is an initiative that [...]

Superannuation Guarantee Charge– Insights from ND Accounting

  Why was the superannuation guarantee set up? The establishment of compulsory superannuation was a direct result of the financial challenges being faced by an expanding aging population.  The scheme was introduced on the 1st of July 1992, forcing all workers to save for retirement relieving the pressure on Australia’s age pension. Exemptions include employees [...]