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Important Tax Reminders

EOFY Payroll

2024 Payroll Reconciliation checklist/authority is now available! If you missed the Bove Bulletin, please click here to complete your 2024 Payroll Reconciliation checklist or follow the prompts to authorise our office

Important Tax Reminders

EOFY Stocktake

Businesses that keep trading stock generally need to provide evidence of the level (quantity) and value ($) held at 30 June.  In these instances, a physical stocktake is required at

Important Tax Reminders

Work in Progress

A calculation is required each tax year with respect to work that has been carried out but not yet completed by 30 June.  This is particularly important if you are

Important Tax Reminders

Directors Liability

Notice to all Directors: From appointment date, a director has 30 days to decide to resign with no potential for exposure to adverse personal financial liability.  Furthermore,  all directors have

Important Tax Reminders

New Tax Tables 2024

Tax rates have changed! Employers must use the latest tax tables to calculate withholding.

2024 Individual Income Tax Rates

Australian resident individual income tax rates for 2024 have not changed from 2023 rates and the Medicare Levy rate remains at 2%.  Consequently, for resident individuals, this means if you

Important Tax Reminders

Car Odometer Readings

Remember to record your odometer readings as at June 30!  Also, make sure that your car log book is valid; a valid log book is one that is less than

Portrait of happy customer buying new car
Important Tax Reminders

Instant Asset Write-off

Thinking of purchasing assets for your business? From 30 June 2023, the instant asset write-off thresholds have changed: For more information, click on Instant asset write-off and small business concessions.

Important Tax Reminders

Bank Reconciliations

Make sure you reconcile all bank accounts up to and including 30 June and not to the end of the statement.  This includes all term deposits, loans, credit cards and

Important Tax Reminders

Reckon Accounts 2024

IMPORTANT:  UPGRADING TO RECKON ACCOUNTS 2024 If you are an Employer using the integrated payroll system in Reckon Accounts/Reckon Accounts Hosted, update your file: ONLY once you have processed your last