Roger Boghani

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Small Business Accountant Assistance for Record Keeping for PSI

Maintaining accurate business records is essential, especially when dealing with personal services income (PSI). If you’re unsure about PSI regulations, consulting professional small business accountants can provide guidance. It’s important to meticulously track both expenses and income to comprehend the flow of funds within your organisation. Keeping comprehensive records detailing all financial transactions, including those […]

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tax agents

How to add Roger Boghani as your accountant (how to link your ABN to tax agent)

In response to recent security concerns, the Australian Taxation Office (ATO) has put in place new measures to enhance the safety of online services. Starting from November 13, 2023, businesses with an Australian Business Number (ABN) must select their accountants or tax agents before accessing their financial data. This blog will walk you through the

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Wealthier Individuals

Division 293 Tax: A Super Surcharge for Wealthier Individuals

Division 293 tax is a key aspect of Australia’s tax rules, aiming to ensure fairness in the superannuation system, especially for high-income individuals. It’s a way for the government to make sure that wealthier people contribute proportionally more to their superannuation. This tax specifically targets individuals with high incomes, reducing the tax benefits they receive

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Have You Requested Your Director Identification Number

Have You Requested Your Director Identification Number?

Director Identification Number (DIN) The director’s Identification Number (DIN) has become an important component. Similar to a tax file number, it is indispensable for directors across various companies, including those overseeing self-managed superannuation funds (SMSFs). The DIN system aims to enhance transparency, accountability, and regulatory compliance within the corporate sector by providing a standardised method

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Exploring Single Touch Payroll

Exploring Single Touch Payroll Phase 2

Introduction In 2018, the Australian Government introduced Single Touch Payroll (STP), changing how employers report payroll information. Adhering to payroll rules is crucial for businesses to operate smoothly. Recently, the Australian Taxation Office (ATO) launched Single Touch Payroll (STP) Phase 2, bringing in major changes to employer reporting guidelines. In this detailed explanation, we’ll break

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7 Easy Steps to Manage Your Short Term Cash Flow Effectively

7 Easy Steps to Manage Your Short-Term Cash Flow Effectively

Introduction Effectively handling cash flow is necessary for business owners, serving as a vital safety net rather than just a strategic move. The ups and downs in cash levels don’t just impact daily decisions; they significantly influence a business’s overall success or setbacks. A strong command of cash flow management is essential for navigating the

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SMSFs

SMSFs: Notable Aspects from the 2022-23 Federal Budget

Extension of the Temporary Reduction in Superannuation Minimum Drawdown Rates Because of the uncertain economy, the government has decided to continue letting retirees take out only half of the usual minimum amount from their superannuation (retirement savings) until June 30, 2023. This is good news because it means retirees don’t have to sell their investments

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