Preparing Your Business for the 12% Superannuation Guarantee Increase The Australian Government has legislated an increase to the Superannuation Guarantee (SG), gradually raising the compulsory rate to 12% by 2025. This change will impact businesses across the nation, especially those…
In today’s fast-paced business environment, embracing digital transformation is no longer optional—it’s essential. Moving to a paperless system not only enhances efficiency but also reduces costs, improves sustainability, and helps business owners reclaim valuable time. At BAS and Balances, we…
Why Every Business Must Provide the Fair Work Information Statement to New Employees. When onboarding new employees, providing the Fair Work Information Statement (FWIS) is a legal requirement for employers in Australia. Beyond compliance, it serves as a cornerstone of…
Here’s What You Need To Know When it comes to paying superannuation, many business owners assume the rules apply only to employees. However, this isn’t entirely true. If you hire independent contractors, you may still be obligated to pay super…
Learn Why Business Owners Should Consider the Risk of DIY Bookkeeping As a small business owner, the financial side of running your company can feel overwhelming. For many, bookkeeping is one of the first tasks they consider taking on themselves,…
In Australia, businesses must comply with the Fair Work system, which includes Modern Awards tailored to various industries and occupations. A single business can indeed fall under multiple awards when employees perform different types of work. While this flexibility ensures…
As a professional payroll service provider I get so angry when I see businesses underpaying their staff so you could imagine how thrilled I was when I saw the new wage theft laws that came into effect at the beginning…
When engaging in activities that generate income, it’s essential to determine whether you’re operating a hobby or a small business. This distinction affects your tax obligations and record-keeping requirements as outlined by the Australian Taxation Office (ATO). What is a…
Imagine this: you’re at your desk, surrounded by a pile of receipts and invoices, painstakingly entering them into your accounting software. It’s tedious, time-consuming, and leaves little room for the tasks that truly grow your business. Enter Dext, an easy-to-use…
Payroll can be a complex area for businesses, and misconceptions are common. Here are some of the most prevalent myths people believe when it comes to payroll, along with the reality to dispel these misunderstandings: By understanding and addressing these…
