News
Numbers don't add up for everyone by Helene Zampetakis
From Financial Review July 21-23 - 2006 p60
This article writes that it has been estimated that up to 90% of independent bookkeepers are unqualified. The article identifies that the ATO are going to bring bookkeepers into their regulatory regime in the near future. Most bookkeepers are currently not a member of the National Institute of Accountants or a CPA or Chartered Accountant (as required by s 251L of the current tax law) or hold professional indemnity insurance which according to the author puts the business owners at risk of getting the wrong support and advice. The article also notes that most bookkeepers charge between $35-$85 per hour which is considerably cheaper than accountants who charge $85-$150 per hour. For the full article please go to www.afr.com.au and subscribe to view archived articles.
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Important Dates
Quarterly BAS are due:
Sept BAS - 28 Oct, Dec BAS - 28 Feb, Mar BAS - 28 Apr, June BAS - 28 July. Monthly BAs are due by the 21st of the month following the month end Quarterly super must also be paid by the 28th of the month following the quarter end if you want to get a tax deduction for it
Quarterly BAS due
Sept BAS - 28 Oct
Dec BAS - 28 Feb
Mar BAS - 28 Apr
June BAS - 28 July