Ixlteam Business Solutions

13/03/2024

"You are so good at what you do, thank you very much!". It is my job to give peace of mind that if audited, I have done my very best to ensure the file is ATO compliant."

Comparing a registered agent to a non-registered agent Can you afford not to have a registered BAS Agent is the question.

Engaging a registered BAS Agent over an unregistered bookkeeper offers several advantages, primarily related to compliance, expertise, and accountability:

Legal Compliance: Registered BAS Agents are authorized by the Tax Practitioners Board in Australia to provide BAS services legally. Engaging a registered agent ensures that your business's BAS lodgments are compliant with Australian tax laws and regulations.

Expertise and Training: BAS Agents undergo specific education and training requirements set by the Tax Practitioners Board. They are required to meet ongoing professional development standards to maintain their registration. This means they are knowledgeable about current tax laws, regulations, and compliance requirements, providing you with expert advice and accurate reporting.

Accountability: Registered BAS Agents are held to a strict code of conduct and professional standards. If there are any issues or errors in your BAS lodgments, you have recourse through the Tax Practitioners Board, which oversees registered agents. This accountability provides assurance that your financial affairs are in capable hands.

Representation: Registered BAS Agents can act as intermediaries between your business and the Australian Taxation Office (ATO). They can represent you in communications with the ATO, including responding to queries, providing additional information, and negotiating payment arrangements if necessary.

Peace of Mind: By engaging a registered BAS Agent, you can have peace of mind knowing that your BAS lodgments are accurate, compliant, and in line with current regulations. This allows you to focus on running your business, knowing that your financial obligations are being managed by a qualified professional.

In contrast, while unregistered contract bookkeepers may offer similar services, they are not authorized to provide BAS services under Australian law. Engaging an unregistered bookkeeper could potentially expose your business to compliance risks, inaccuracies in reporting, and lack of recourse in case of errors or issues.

Therefore, it's generally advisable to choose a registered BAS Agent to ensure the highest level of expertise and compliance with Australian tax laws.

20/06/2023

06/06/2023

30/03/2023

Know someone who started an apprenticeship this year? 👷🔨✂️

It’s important to know what you can and can’t claim at tax time. Remember to keep good records of your work-related expenses as you go, to help make tax time simple.

Check out our tailored occupation guide @ www.ato.gov.au/Individuals/Income-and-deductions/In-detail/Occupation-and-industry-specific-guides/Apprentices-and-trainees---income-and-work-related-deductions/?page=2

17/03/2023

- Did you know 90% of people aged 18-36 believe tax and super should be taught in high school? 🤔 💡 It’s now part of the curriculum!

Tax, Super + You is a free high school resource for teachers, parents, and students. It’s fun and interactive, and covers all the basics of tax and super, like:

💰 what is tax, and how is it collected?
💁 how to apply for a tax file number
💻 accessing ATO online services
✔️ completing your first tax return.

Whether you teach English, Social Science or Health, there's something for you! Check it out & register @ https://taxsuperandyou.gov.au/

23/02/2023

⚖️ Crime doesn’t pay: A former tax agent has been sentenced to 6 years in jail for understating his business and personal income by more than $2.8 million.

The Queensland man submitted false BAS and income tax returns and was ordered to repay $2,639,669.

Find out more in our media release: https://www.ato.gov.au/Media-centre/Media-releases/Accounting-for-a-hefty-jail-sentence/

20/02/2023

An employment contract can’t leave you worse off when compared to the legal minimum entitlements in:

• the National Employment Standards (NES)
• your applicable award or registered agreement.

Whether or not you’ve signed a contract, use our Pay Calculator to check your legal minimum rate of pay: https://calculate.fairwork.gov.au/findyouraward

20/02/2023

09/02/2023

Employees have to be paid for all time spent in compulsory training. That includes training you complete online and at home: https://www.fairwork.gov.au/pay-and-wages

To see if there are exceptions and what applies to you, check your award, enterprise agreement or employment contract.

27/01/2023

Taking sick leave before or after a public holiday doesn’t mean you miss out on public holiday entitlements. If you’re a full-time or part-time employee and were absent for a public holiday which is on a day you’d normally work, you’re entitled to be paid for the ordinary hours you usually work that day at your base rate of pay (this can’t be debited from your accrued sick leave): https://www.fairwork.gov.au/employment-conditions/public-holidays/not-working-on-public-holidays

If you can’t work before or after a public holiday due to suffering from an illness or injury, normal sick leave rules apply. That means you have to give your employer notice as soon as possible that you need to take leave and they can ask you for evidence that shows that you took the leave because you weren’t able to work due to an illness or injury (like a medical certificate).

Employees have a right to be away from work on a public holiday. Find out further information on employee entitlements during public holidays.