• abn
    Find ABN and GST Errors in Minutes and Smooth Out BAS Review
    A whopping 59.92% of 2,242 Xero accounting files audited by XBert’s AI in the last quarter contained ABN or GST errors. Whether you’re preparing BAS lodgements for clients who do their own bookkeeping, or you simply would like to have a data safety net for your bookkeeping team, AI audit […]
  • SMSF Association
    ‘Election Years Rarely Bode Well for Superannuation’: SMSF Association
    Speaking to sister title, ifa, Peter Burgess said it is hard to tell what’s in store for the sector as “election years rarely bode well for superannuation”. “They usually come with promised changes to superannuation that can unnerve the industry and rattle fund members – especially those in retirement,” Mr […]
  • stock market
    5 Giveaway Signs of Stock Market Scams and How to Avoid Them
    Have you ever seen a pop-up when scrolling through social media or websites claiming a certain platform, financial adviser or celebrity can help you make thousands by ‘investing’ in programs or vehicles that seem to have the secret sauce to making bank with stocks, commodities or crypto assets? While some […]
  • tax claim
    7 Most Surprising Things You Can and Can’t Claim
    Depending on your area of employment, there are a range of tax deductions that could be available. The basic rule is that if you’ve incurred an expense as part of your job, you can claim it. For instance, if you’re a taxi driver, you can claim fuel for your car. […]
  • ATO
    ATO Releases Draft Guidance on Breaches with Super Benefits
    The ATO has published a draft Law Administration Practice Statement, PS LA 2021/D3, which explains when and how the ATO will apply discretion in section 304-10(4) of the Income Tax Assessment Act 1997 where a taxpayer receives a superannuation benefit in breach of the legislative requirements. It is currently under […]
  • professional-firms
    ATO Releases New Guidance on Allocation of Professional Firm Profits
    The ATO has finalised the Practical Compliance Guideline PCG 2021/4 Allocation of professional firm profits – ATO compliance approach, which applies from 1 July 2022. It sets out the ATO’s compliance approach to the allocation of profits or income from professional firms in the assessable income of the individual professional […]
18 December 2017

Accounting for Public Sector Entities, Higher Education & Charities

The not-for-profit sector includes higher education providers, TAFEs, charities, and federal, state and local governments. Not For Profit organisation will generally need to make and spend money, if only to cover the costs of providing their services, day to day operations, and to plan and provide for the future. Finances […]
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