Booked Accounting Pty Ltd

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Booked Accounting Pty Ltd Supporting small businesses with tax, accounting and advisory.

bookedaccounting.com.au

Liability limited by a scheme approved under Professional Standards Legislation

28/09/2026

Do you need to register for GST?

You’re required to register once your GST turnover reaches $75,000, or if you expect it to reach $75,000 within the next 12 months. It’s based on projected turnover as well as what you’ve earned so far. For non-profit organisations, the threshold is $150,000.

If you exceed the threshold and don’t register, the ATO can backdate your registration. That means you may have to pay GST on sales where you didn’t charge it to your customers.

*This is general information only and doesn’t take into account your individual circumstances. Please seek advice from a registered tax agent before making any decisions.*

21/09/2026

Invoicing through a company or trust as a contractor? If most of your income is really just a reward for your own effort or skills — not from a business with its own assets, staff, or client base — it may be classed as Personal Services Income (PSI).

Why it matters: if your income counts as PSI, the ATO can tax it as if it were yours personally, even if it sits inside a company or trust — which can undo a lot of the benefit of that structure.

⚠️ General information only, not tax advice — doesn’t consider your personal circumstances. Liability limited by a scheme approved under Professional Standards Legislation.

18/09/2026

Before-tax vs after-tax super contributions — not the same thing. Before-tax is taxed at 15% going in and counts toward your concessional cap, which also includes your employer’s super guarantee. After-tax contributions have no upfront tax saving but sit under a separate, higher cap.

Mixing the two up is how people accidentally go over a cap — and end up with excess contributions tax.

⚠️ General information only, not tax advice — doesn’t consider your personal circumstances. Liability limited by a scheme approved under Professional Standards Legislation.

16/09/2026

Running a genuine business that made a loss this year? That doesn’t automatically mean you can claim it against your other income — the ATO’s non-commercial loss rules decide that.

You generally need to pass one of four tests (income, profit history, or asset value) to use the loss now. And if your other income is over $250k, none of the tests apply — the loss gets quarantined until the business turns a profit.

Not sure where your business sits? DM me for a chat.

⚠️ General information only, not tax advice — doesn’t consider your personal circumstances. Liability limited by a scheme approved under Professional Standards Legislation.

14/09/2026

Is your side hustle a “hobby” or a “business” in the ATO’s eyes? It’s not about having an ABN - it comes down to things like record-keeping, scale, repetition, and whether you’re genuinely trying to profit.

Why it matters: hobby losses can’t offset your other income. Business losses might - subject to the non-commercial loss rules.

Not sure which side you’re on? DM me for a chat.

⚠️ General information only, not tax advice — doesn’t consider your personal circumstances. Liability limited by a scheme approved under Professional Standards Legislation.

11/09/2026

Thinking of switching to a company for the “lower tax rate”? 🧐
A 25% company tax rate sounds like a big win — but that’s just what the company pays on its profit. Once you pull that money out for yourself, it can get taxed again depending on how things are structured. So it’s not always a straight “keep 75 cents in the dollar” situation.
Sometimes a company structure works brilliantly. Sometimes, once you add in compliance costs, it ends up pretty similar to staying a sole trader.
The tax rate is only half the story — the structure around it matters just as much 📊

This post is general information only and doesn’t take into account your personal circumstances. It isn’t tax or financial advice — please speak with us or your registered tax agent before making any structural changes.
Liability limited by a scheme approved under Professional Standards Legislation

10/09/2026

Subbies — heads up 👷‍♂️
If you’re subcontracting for a builder or head contractor, they’re already telling the ATO how much they paid you. It’s called a TPAR (Taxable Payments Annual Report), and it covers building & construction, cleaning, couriers, IT and road freight.
It’s not something to stress about — it just means it’s worth making sure your own numbers line up with what’s been reported before you lodge. No surprises, no red flags.
Worth knowing before tax time rolls around 👇

This post is general information only and doesn’t take into account your personal circumstances. It isn’t tax advice — please speak with us or your registered tax agent before acting on anything above.
Liability limited by a scheme approved under Professional Standards Legislation.

17/08/2026

PAYGI, that thing you pay but maybe don’t fully understand 👇
It’s a prepayment toward tax on your business/investment income, not the same as PAYG withholding. Whatever you pay in gets offset at tax time.
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.

12/08/2026

Client asked me this week, do I need a receipt for literally everything? Short answer, not always, but there’s a catch 👇
Under $300 in work-related expenses (excluding car, meals, travel allowance), you might not need receipts, but you still need to be able to show you worked out the claim. Over $300? Full records required.
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.

11/08/2026

Hiring your first employee soon? There’s a proper checklist, not just a name and a start date 👇
STP, super fund details, TFN declaration, Fair Work award check, WorkCover registration, get it all sorted before their first pay run.
⚠️ General information only, not personal tax advice, please check your own circumstances before acting on this.

Address

34 Old Gosford Road
Wamberal, NSW
2260

Opening Hours

Monday 8:30am - 4:30pm
Tuesday 8:30am - 4:30pm
Wednesday 8:30am - 4:30pm
Thursday 8:30am - 4:30pm
Friday 8:30am - 4:30pm

Telephone

+61407252600

Website

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