Are you prepared for the super guarantee rate rise?

The superannuation guarantee rate will rise from 9.5% to 10% effective on 1 July 2021. But what does this mean for your business? Are my employees eligible for superannuation payments? First, you should be sure to check your employees’ eligibility for super payments.  Eligibility can be determined using the ATO’s superannuation guarantee eligibility decision tool. […]

Getting to Know PAQ Series: Sonia

In the second edition of our Getting to Know PAQ Series, Sonia has taken some time out of her busy day to have a little conversation with us about her driving force, the best advice she’s ever received and the most enjoyable place she’s been to. Read on to get to know our adventure-loving bookkeeper, […]

The best way to pay yourself: salaries, dividends or drawings?

Small business owners often ask us: “what is the best way to pay myself?” To answer this question, we need to assess the factors and priorities that shape your particular circumstances.  Business structure Company If you are running a business under a company structure, a good strategy to ensure you are paying minimal tax (depending […]

Getting to Know PAQ Series: Justin

Our close knit team at PAQ is bursting with interesting personalities and we wanted to introduce them to you through our Getting to Know PAQ series.  We pulled Justin, our Founder, aside for a moment to ask him a couple of questions ranging from what drives him to the weirdest food he’s ever eaten. What […]

Missed the JobKeeper deadline? You may be eligible for a review

The Australian Tax Office (ATO) has been reviewing some of its decisions on JobKeeper eligibility after losing a JobKeeper test case in the Full Federal Court.  Some of these reviews will happen automatically, however if you missed the deadline to apply for the JobKeeper scheme or did not apply because you initially thought you were […]

Preparing a safety net for your business

Every business needs some degree of liquidity in order to carry out its day-to-day activities. Having some cash on hand will allow you to pay your bills, settle payroll and be prepared for any unexpected occurrences. A general rule to bear in mind is that the cash flowing into your business must be greater or […]

5 benefits of cloud-based accounting

Cloud computing

Storing data in the cloud allows your data to be accessible anywhere and makes room for many possibilities in bookkeeping and for your business more generally. Traditional accounting softwares, on the other hand, will only set you and your business back because the data is not updated in real-time, is typically only stored in one […]

4 tips for checking the financial health of your business

When can you confidently say that your business is doing well financially? Of course, revenue alone is not an accurate indicator of your business’ financial health. To evaluate the financial health of a business, one would typically scrutinise its liquidity, solvency, profitability and operating efficiency. Regularly monitoring and analysing those components is good practice for any business […]

Business vouchers introduced Australia-wide to stimulate the economy

Australian states and territories have introduced business voucher systems in an effort to stimulate economic activity after the slowdown caused by the COVID-19 lockdown. Vouchers will be distributed to eligible participants to encourage spending, primarily at tourism and hospitality businesses. Here is a look at the different voucher systems and business eligibility in each state and territory […]