The Bottom Line of the Federal Budget 2021-22

Federal Budget 2021-22 The October 2020 Budget was a stimulus Budget designed to soften the blow of COVID-19-related impacts for Australians. Now 6 months on and the report card is largely positive. Economically we are in a much better position than the Government’s forecasts in October last year. The focus of the 2021-22 Federal Budget…

What accounting method do I use to report my GST?

From the ‘Small Business Newsroom”… If you have an aggregated turnover of less than $10 million, or use cash accounting for income tax, you can use one of two methods for accounting your GST. 1. Cash accounting GST is reported on the activity statement for the period in which you either: receive payment for your…