by Financially Sorted | Jun 1, 2025 | ATO, Small Business
The ATO has updated its small business benchmarks with the latest data taken from the 2022–23 financial year. These benchmarks cover 100 industries and allow small businesses to compare their performance, including turnover and expenses, against others in their...
by Financially Sorted | Mar 17, 2025 | ATO, Small Business, Tax & Accounting
The ATO has announced that from 1 April 2025, it will be moving around 3,500 small businesses with a history of non-payment, late or non-lodgement, or incorrect reporting from quarterly to monthly GST reporting to improve their compliance. The ATO believe that moving...
by Financially Sorted | Mar 3, 2025 | Small Business
The new year brought with it a new Australian Small Business Wage Compliance Code, which means intentionally underpaying an employee’s wages or entitlements can now be treated as a criminal offence. Understanding this code is essential to ensure all employees are...
by Financially Sorted | Aug 27, 2024 | ATO, Business, Single Touch Payroll, Small Business
Managing payroll is essential for any small business. It ensures your team is paid correctly and on time, and it keeps your business compliant with the ATO. However, payroll can be tricky, and mistakes can lead to financial penalties and unhappy employees. Here’s a...
by Financially Sorted | Mar 1, 2024 | Business, Small Business
It is hard being a small business Lack of staff available, extra costs & taxes, price squeezing along with cashflow issues are just a few of the more common themes that we are hearing from our clients. The tips below are here to assist with these pressures: Get...
