Balanced Bookkeeping Co.

24/11/2022

Are you up to date on changes to Super?

Employers: Hiring staff to help with the summer rush? Make sure you’re serving up the right amount of super! 🧑‍🍳☕🛍️

Remember, new super changes started from 1 July 2022 and include:
✔️ the super guarantee rate increase from 10% to 10.5%
✔️ the removal of the $450 eligibility threshold. This means employees may be eligible for super, regardless of how much you pay them.

For more info, visit www.ato.gov.au/Business/Super-for-employers/

13/09/2021

I come across this a lot....always an interesting discussion with an employer over what they consider “reasonable”

❓ If you’re on a salary, it’s OK to be required to work any number of additional hours without extra pay, right?

❌ WRONG! While your boss can ask you to work ‘reasonable additional hours’, your annual salary needs to be high enough to cover your minimum entitlements under an award or registered agreement that applies and the National Employment Standards.

Use our Pay Calculator to check your minimum entitlements under the award: https://calculate.fairwork.gov.au/findyouraward

In deciding whether additional hours are reasonable, a range of things need to be considered, like:

• any risk to your health and safety
• your personal situation (including caring responsibilities)
• whether you’re entitled to overtime payments
• penalties or a higher level of remuneration
• the needs of the workplace
• the usual patterns of work in the industry.

An employee can refuse to work additional hours if the hours are unreasonable.

If you’re on a salary and you’re working additional hours, it’s a good idea to keep a record of when you work to see how your salary stacks up compared to your minimum entitlements.

04/07/2021

Employers: Did you know that the super guarantee rate is changing? 🤔

The super guarantee rate increased from 9.5% to 10% on 1 July 2021. Make sure:
✔️ your payroll and accounting systems are updated for the rate increase
✔️ salary and wage payments made on or after 1 July apply the minimum super guarantee rate of 10%

For more info, see www.ato.gov.au/business/super-for-employers/paying-super-contributions/how-much-super-to-pay/

29/06/2021

Last Friday we heard from our General Insurance Guru Paul Carter from Elders Insurance Tweed Heads.

We aked Paul a few questions in the lead up to his presentation.
- What do you do? General Insurance
- Why do you do it? Insurance has been my Career since I was 20, over thirty years now. It has been awesome to me … allowed me to work interstate and overseas … and now being able to grow and develop my business with family in the most beautiful place in the world
- What do you love most about BNI Pinnacle? Aside from the Considerable business we have written through our membership to Pinnacle … it’s the relationships and connections that keeps you coming back … 10 years now

Pauls presentation will help us all know more about what Elders Insurance Tweed Heads can do for our business’s and more importantly how we can help to refer other business’s to Paul and his team.
👉 We invite you to come along to our meeting which is held each Friday at Tweed Heads Bowls Club 👈
Come and see why BNI is the best! Send us a message to RSVP.

https://www.eldersinsurance.com.au/elders-insurance-tweed-heads

19/04/2021

I see this time and time again....

Even if it’s to make payroll easier, your hours can’t be rounded down so you miss out on pay or overtime.

You must be paid for all the time you’re required to work. Your timesheet should accurately reflect the time you spend working. In fact, unless it’s to fix a mistake, timesheets shouldn’t be changed for any reason.

⏰ For example, if you finish at 5:25 pm, you must be paid to that time. Your hours can’t be rounded down to say you finished at 5:15.

Keeping a log of your work hours is a good way to check that you’re paid for all your work hours.

📱 Our Record My Hours app helps you record your work times and other job info and can help make sure you’re not short-changed.

Download it here: https://www.fairwork.gov.au/how-we-will-help/how-we-help-you/record-my-hours-app

22/02/2021

Do you own a rental property?

19/02/2021

A good read for those of you that have or are thinking about Cryptocurrency.

Thinking of investing in cryptocurrency? 🪙💰

You may need to include a capital gain or loss in your tax return, so it’s important to keep good records of all your cryptocurrency transactions.

For tips and info to help you understand how capital gains tax applies to cryptocurrency, visit www.ato.gov.au/general/gen/tax-treatment-of-crypto-currencies-in-australia---specifically-bitcoin/

17/02/2021

One of my amazing clients, Happy Birthday Anni!

✨💐 HAPPY BIRTHDAY to our leader, the one that started it all! Today we celebrate Anni and all she has achieved! Thank you for your constant innovation, support and passion- not just for our business, or the industry but to all of your employees, friends and family. Happy Birthday Anni! 🎉🎁

16/02/2021

The life of a bookkeeper on the road, sorting a box of receipts whilst at soccer training with Child number 1.

Do you have a box like this? Have you thought of using one of the receipt apps on the market now?

13/02/2021

Love numbers!

30/01/2021

🤣🤣🤣

25/12/2020