To all my clients, past and present, current and former employees, I would like to thank you on your support. It has been an absolute pleasure to work with you over this time and I look forward to continuing to service you and your business well into the future.

 
Thanks again,

 
Marco Schena

Managing Director.

The post Celebrating 10 years of operation in June 2017 appeared first on Accounts Central Services.

Remember if you don’t lodge and pay by the due date you may incur General Interest Charges and Late Lodgement Penalties.

The post Have you completed your BAS for the March 2015 quarter? appeared first on Accounts Central Services.

Late paying your ATO obligations not only can incur a General Interest Charge but can affect your ability to get a loan in the future from a bank.

If you need assistance with this matter, give Accounts Central Services a call today.

The post Are you having trouble paying your GST and PAYG withholdings on time to the ATO? appeared first on Accounts Central Services.

If you would like a home loan health check done, let me know and I can have a mortgage broker review your loan(s) free of charge, all without leaving your desk. You may save thousands over the life of your loan.

Remember if you have a spare $100 per month to pay extra off your home loan, you may save $36,946 in interest payments based on a $300k loan over 30 years at 4.75%. This will also reduce your loan term by 3 years and 7 months. So can you cut out one coffee a day?

The post Do you have a home loan or an investment property loan? appeared first on Accounts Central Services.

The public holidays that you should be paying this year over the Easter weekend are as follows:

1. Good Friday – Friday 3th April
2. Saturday after Good Friday – Saturday 4th April
3. Easter Sunday – Sunday 5th April
4. Easter Monday – Monday 6th April

All information about public holidays can be found at Fair Work website.

http://www.fairwork.gov.au/leave/public-holidays/list-of-public-holidays#VIC

The post Did any of your staff work on Easter Sunday? appeared first on Accounts Central Services.

Here is an extract from the ATO website. If you need any assistance with SuperStream give Accounts Central Services a call.

What is SuperStream?

SuperStream is a government reform aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by submitting data and payments electronically in a consistent and simplified manner.

How will SuperStream benefit employers?

These changes have a range of potential benefits for employers, including:

• the opportunity to use a single channel when dealing with super funds, regardless of how many funds your employees contribute to
• less time spent dealing with employee data issues and fund queries
• greater automation and reduced cost of processing contributions and payments
• more timely flow of information and money in meeting your superannuation obligations

Who does SuperStream apply to?

SuperStream is mandatory for all employers making super contributions, APRA-regulated super funds, and self-managed superannuation funds (SMSFs) receiving contributions.

Why is SuperStream being introduced?

The main purpose of SuperStream is to ensure employer contributions are paid in a consistent, timely and efficient manner to a member’s account. The change also removes many of the complexities employers currently face as a result of funds being able to set up different arrangements for accepting contributions (due to the lack of common standard).

When do I have to start using SuperStream?

20 or more employees: If you have 20 or more employees (medium to large employer) SuperStream started from 1 July 2014. From that date, employers needed to start implementing SuperStream and have until 30 June 2015 to meet the SuperStream requirements when sending superannuation contributions on behalf of employees.

We are facilitating the implementation of SuperStream for employer contributions by coordinating the introduction of compliant SuperStream solutions. You will need to work with your service provider to decide when best suits to make the change.

19 or fewer employees: If you have 19 or fewer employees (small employer), SuperStream starts from 1 July 2015. You have until 30 June 2016 to meet the SuperStream requirements when sending superannuation contributions on behalf of your employees.

Note: You can voluntarily adopt the SuperStream from 1 July 2014 if you are ready, and many solution providers may offer to assist you to do this from this date.

What are my options for meeting SuperStream?

Every business is different, so there’s no ‘one size fits all’ approach to adopting SuperStream.

Employers have options for meeting SuperStream – either using software that conforms to SuperStream; or using a service provider who can meet SuperStream on your behalf. We recommend that you start investigating your options now.

Your options may include:

• upgrading your payroll software
• using an outsourced payroll function or other service provider
• using a commercial clearing house or the free Small Business Superannuation Clearing House (19 or fewer employees).

Your default fund may also have its own electronic channel that can be used during the transitional period up to 30 June 2016. This fund can provide you with details about how to comply with the SuperStream using their preferred facilities.

Do I need to collect additional information to make contributions using SuperStream?

Yes. To support contributions being made using the SuperStream standard employers will need to collect some new data that will be included in their payroll file to facilitate electronic processing.

Employers will need to collect the following information:

• unique superannuation identifier (USI) for APRA-regulated funds
• ABN for SMSF funds
• bank account details
• electronic service address.

For existing employees, simple processes will be implemented to enable employers to obtain this information. This may include receiving information:

• direct from your
• through the Fund Validation Service
• via employees who have elected a choice fund (such as a self-managed super fund)
• through a clearing house.

For new employees, the choice of super fund form will be updated to include this information.

Your HR or payroll provider will provide you with options to support the capture of this information whether this is updating your existing payroll file or storing this information until an update is made available.

To support your readiness for SuperStream you should contact your HR/payroll solution provider to understand their plans.

Click here for full document

The post SuperStream deadline is nearing. Do you employ 20 or more employees? appeared first on Accounts Central Services.

We expect to save around 10 trees a year. Are you doing your bit to help our environment?

If you need any assistance with the introduction of systems to reduce paper give us a call.

The post Did you know that they make 16 reams of A4 paper out of a tree? appeared first on Accounts Central Services.