The golden rules to avoid a massive tax bill as a sole trader

Posted on June 22, 2022Categories Advisors, Compliance, Small business

It happens every year. Sole traders around the country tread steadily toward the end of financial year on 1 July, until suddenly, their chest tightens with panic. Hot on their lips is the nail-biting question: what if I don’t have enough coin in the bank to pay my tax bill? Most sole traders will know that they’ll need to file their business tax return to the ATO between 1 July and 31 October. However, unlike regular taxpayers who may receive … Continue reading “The golden rules to avoid a massive tax bill as a sole trader”

Staying sane during tax time

Posted on June 13, 2022Categories Advisors, Compliance, Small business

It’s almost 1 July, you know what that means right? Tax time is looming, and it’s time to finalise your EOFY to hit the ground running. You’ll need to organise tax returns, refresh your business plan, balance your books, do a year in review, consult with your accountant, and ensure absolute compliance with the ATO. But you knew that already. It also means a few metric tons of brow-furrowing pressure and stress. Make no mistake, tax time is stressful, and … Continue reading “Staying sane during tax time”

Optimising accounting technology for remote workplaces

Posted on June 13, 2022Categories Advisors, News, Technology

For better or worse, the pandemic has disrupted the accounting industry forever. Dave Francis, General Manager of APS, has witnessed enormous changes industry wide. One of the most significant has been a distinct shift in where work is done. Since the onset of COVID-19, adopting new working patterns has been a necessity for many firms. While some pandemic-borne trends are fleeting; hybrid and remote work models are here to stay. Keep this front of mind when investing in business technology. … Continue reading “Optimising accounting technology for remote workplaces”

Diversity and inclusion in tech with Take2

Posted on June 13, 2022Categories Advisors, Bookkeepers, Small business

Here at Xero, we actively support diversity, inclusion, and belonging in the workplace. We recognise that a diverse workforce is a strength that enables businesses, including ours, to better understand and serve customers, attract top talent and innovate successfully. Part of our work in this space in Aotearoa/New Zealand has included working alongside a charitable organisation called Take2. The kaupapa (purpose) of Take2 is to teach incarcerated individuals to code, enabling meaningful employment opportunities and ultimately breaking the cycle of … Continue reading “Diversity and inclusion in tech with Take2”

Spotlight Reporting: Bring your business data together

Posted on May 22, 2021May 22, 2021Categories Advisors, Bookkeepers, Small business

Xero connects with over 1,000 apps that help small businesses and their advisors succeed. Each month we celebrate an app partner who stands out for helping small businesses thrive. Find out more about becoming a Xero app partner here. This month, we’re excited to celebrate two significant milestones with our app partners. It’s been over 10 years since we certified the first apps to connect to Xero. And over this time we’ve grown, with over 1,000 apps now connecting to … Continue reading “Spotlight Reporting: Bring your business data together”

STP is changing this EOFY: What do Australia’s advisors need to know?

Posted on May 22, 2021May 22, 2021Categories Advisors, Bookkeepers

As an accountant or bookkeeper, you might consider yourself an old hat when it comes to Single Touch Payroll (STP) by now. The ATO initiative has been around for nearly two and half years to help employers establish real-time digital payroll reporting including salaries, wages, PAYG withholding tax and superannuation information. With STP having been rolled out in stages, some small businesses have been offered exemptions from the initial deadlines. That is, up until now.  This EOFY, most small business … Continue reading “STP is changing this EOFY: What do Australia’s advisors need to know?”

Aussie advisors: Get EOFY ready with FY21’s key product releases

Posted on May 10, 2021May 22, 2021Categories Advisors, Bookkeepers

Following the arrival of the pandemic, the way we live and work has changed for good. And after what was undoubtedly their busiest year yet, Aussie advisors have been reminded just how crucial it is to streamline their processes. In response, the Xero team has worked to meet you there, updating our product in line with everything from legislative requirements to the need for even greater flexibility. Amidst the chaos of the past 12 months, it’s possible that you may … Continue reading “Aussie advisors: Get EOFY ready with FY21’s key product releases”