Thorburn Accounting

A little delay in the move … renovation delays …keep tuned

We are moving to
6 Tebbutt Street, Windsor
From 1 March
(more to come soon)

Watch this space … exciting news coming

Xero Outage

For all those having issues with Xero we received this email this morning… hopefully it won’t last too long

Hi
As you are likely aware, Xero, like many other global companies, continues to experience slowness and login issues due the ongoing global outage by our third party provider, Amazon Web Services (AWS).

We understand your access to Xero is important for your business. We are committed to updating you frequently via our Status page as new information becomes available.

We are conscious of the impact when issues like this occur, and I thank you for your patience while we work with AWS to resolve this issue as a priority.n

If you are employing Casuals check out the Online event: Navigating Casual Employment

Online event: Navigating Casual Employment | NSW Small Business Commissioner With recent changes to casual employment, the NSW Small Business Commission invites the Fair Work Ombudsman to provide an overview of the new Closing Loopholes laws and what they mean for your small business. Join the NSW Small Business Commission host the Fair Work Ombudsman for a free online sessi...

The Basics to starting a business

The basics of starting a business | NSW Small Business Commissioner There has been a notable surge in young people venturing into the world of entrepreneurship in recent years. New statistics released by the Commonwealth Bank indicate nearly two thirds of small businesses are started by millennials and gen Z. The allure of a stable 9-to-5 job is no longer the sole a...

Check out the Changes coming to Small Business in 2025

Changes affecting small businesses in 2025 | NSW Small Business Commissioner Wage underpayment becomes a criminal offence Under changes to workplace laws, intentional underpayment of wages will be classified as a criminal offence. From 1 January 2025, employers will be in breach if they knowingly fail to pay wages, superannuation, or other entitlements required under the Fai...

A WIN! TASA WIN FOR ACCOUNTANTS!
Assistant Treasurer just issued a letter to joint group of accounting bodies.
Firms with less than 100 employees now have until 1 July 2025 to abide by the new rules as long as they take genuine steps to be compliant!
Still much to work through with future TPB guidance - but this is a fantastic start.
Great letter writing everyone!!!
Yesssssss!!!!!

ATO data matching notice – sales data from online selling platforms
On 8 July 2024 the ATO issued a notice stating it will be obtaining sales data from online selling platforms for 2023-24 to 2025-26.

The specific information it will acquire from 20,000 to 30,000 records includes individual and entity identification information as well as account details for each record. This will include the account name, account identification number, account registration date, account registration type, store type, seller status, IP address, number of annual sales transactions, value of annual sales transactions, number of monthly sales transactions, and the value of monthly sales transactions.

Data matching is always a compliance exercise. The objectives of this program include, among other things:
“to promote voluntary compliance and increase community confidence in the integrity of the tax and superannuation systems.”

Which is ATO speak for identifying non-lodgers or undisclosed side hustles, and possibly GST liabilities depending on turnover (and to promote voluntary compliance).

End-of-year finalisation through STP

Here is a guide to help you with the process

End-of-year finalisation through STP Information about making a finalisation declaration if you're reporting through Single Touch Payroll (STP).