How much time do you spend bookkeeping each week? Recording, organising, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. 10 hours? More? Effective bookkeeping is at the heart of a healthy business. But, done poorly, bookkeeping can be time-consuming and tedious.
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Entries by synecticgroup
Fringe benefits tax (FBT) is a tax paid by employers on specific benefits provided to employees (and their families). Benefits commonly provided to employees include company vehicles, car parking, low interest loans, and living-away-from-home allowances. FBT places the tax burden on the employer rather than the employee, which can be an attractive arrangement for many […]
Did you know that employers registered for GST can claim GST credits for reimbursements made to employees? Here’s a quick run-down on what qualifies, what doesn’t, and how to claim.
This month we have some simple tips to get the cash flowing in your business, and an update regarding Single Touch Payroll. Vaughn shares his thoughts on Artifical Intelligence and how it might impact our personal lives, and we ask you to think about where your superannuation death benefits will go when you pass away (it’s probably not your favourite topic, […]
Term Deposits are a low-risk investment option, with a fixed rate of return, allowing you to make plans for the interest you will earn. But finding the best interest rates, worrying about re-investment dates and wading through paperwork can be a real hassle!
The extension of Single Touch Payroll (STP) requirements to employers with 19 or less employees has finally passed both houses of Parliament. From 1 July 2019, STP reporting will become compulsory for all Australian employers.
It’s easy to assume that your Will would take care of your superannuation death benefit when you die. But that’s not the case – your super is dealt with separately from your Will.
Managing your debtors so you get paid on time is critical to your business’ survival. Paying suppliers and salaries, investing in infrastructure and growth – if you don’t have the cash, your business is in trouble. So, wouldn’t it be wonderful if customers paid on time, every time?
In our last newsletter for the year, we offer simple ways to get your bookkeeping on track (with some great ideas for your New Year’s resolutions!), and discuss the risks of switching or consolidating super funds on your own. Danny shares his thoughts on the significance of your business’ purpose, and we check in on what #teamsynectic are up to in our community.
Super fund members are regularly encouraged to consolidate their super accounts into one account to reduce paperwork and avoid paying multiple administrative fees and charges for accounts they don’t need.
Synectic is a Chartered Accounting and Advisory firm that brings together the skills of accountants, business advisers, financial planners, self-managed superannuation experts, and auditors. Our team operates state-wide from Devonport, Hobart and Launceston offices.
Our mission is to help people, businesses and the community prosper.
We offer the depth of knowledge, specialist skills and progressive resources usually associated with much larger firms. Yet our size and availability allows us flexibility and enables us to develop an in-depth understanding of your business and financial affairs.
A: 49 Best Street, Devonport
P: (03) 6424 1451
A: 30 Burnett Street, North Hobart
P: (03) 6239 4900
A: Level 1, 99-103 George Street, Launceston
P: (03) 6337 6777
M: PO Box 6003, Devonport, TAS, 7310