Cleverly Accounting

𝐈𝐟 𝐲𝐨𝐮'𝐫𝐞 𝐫𝐮𝐧𝐧𝐢𝐧𝐠 𝐚𝐧 𝐞𝐂𝐨𝐦𝐦𝐞𝐫𝐜𝐞 𝐬𝐭𝐨𝐫𝐞 𝐚𝐧𝐝 𝐬𝐭𝐢𝐥𝐥 𝐝𝐨𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐛𝐨𝐨𝐤𝐤𝐞𝐞𝐩𝐢𝐧𝐠 𝐦𝐚𝐧𝐮𝐚𝐥𝐥𝐲, 𝐢𝐭'𝐬 𝐭𝐢𝐦𝐞 𝐭𝐨 𝐬𝐭𝐨𝐩 𝐭𝐡𝐞 𝐬𝐭𝐫𝐞𝐬𝐬.

Platforms like Amazon and Shopify don’t make it easy — payouts include sales, refunds, shipping income, fees, GST... all lumped together.

That’s where A2X can help.

✅ A2X automatically syncs sales, fees, refunds, and taxes from Shopify, Amazon, eBay, and Etsy into Xero or QuickBooks—no more manual entries or errors.
✅ It breaks down payouts into clear summaries, so you can see how much you really earned after fees and costs.
✅ By automating reconciliations and posting entries in bulk, A2X cuts down hours of bookkeeping work
✅ A2X helps track GST accurately and supports multi-currency transactions, which is crucial if you’re selling across countries.

-→ We can help you get A2X set up and make sure everything’s running smoothly — so you can focus on growing your business, not chasing numbers.
Contact us today to get help!

📢 𝐒𝐮𝐩𝐞𝐫 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐑𝐞𝐦𝐢𝐧𝐝𝐞𝐫! 📢

𝐓𝐡𝐞 𝐝𝐞𝐚𝐝𝐥𝐢𝐧𝐞 𝐭𝐨 𝐩𝐚𝐲 𝐬𝐮𝐩𝐞𝐫𝐚𝐧𝐧𝐮𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐪𝐮𝐚𝐫𝐭𝐞𝐫 𝐞𝐧𝐝𝐞𝐝 𝟑𝟏 𝐌𝐚𝐫𝐜𝐡 𝐢𝐬 𝟐𝟖 𝐀𝐩𝐫𝐢𝐥. ⏳

To avoid penalties and ensure your employees’ super is paid on time:
✅ Process payments early to allow for clearing house processing times
✅ Double-check contributions are correct
✅ Keep records of payments for compliance
Late payments may attract the Super Guarantee Charge (SGC), so don’t leave it to the last minute!
Need help? We’re here to assist. 💼🔍

🏡 𝐋𝐚𝐧𝐝 𝐓𝐚𝐱 𝐓𝐡𝐫𝐞𝐬𝐡𝐨𝐥𝐝𝐬 𝐛𝐲 𝐒𝐭𝐚𝐭𝐞 – 𝐅𝐘𝟐𝟓
Owning property? You might be liable for land tax if your land value exceeds certain thresholds. Here’s a quick breakdown by state 👇

📍 𝐍𝐒𝐖 – $1,075,000
📍 𝐕𝐈𝐂 – $50,000
📍 𝐐𝐋𝐃 – $600,000
📍 𝐖𝐀 – $300,000
📍 𝐒𝐀 – $732,000
📍 𝐓𝐀𝐒 – $125,000
📍 𝐀𝐂𝐓 – No threshold (land tax applies to all investment properties)
📍 𝐍𝐓 – No land tax 🙌

⚠️ Note: These thresholds apply to 𝐭𝐚𝐱𝐚𝐛𝐥𝐞 𝐥𝐚𝐧𝐝 𝐯𝐚𝐥𝐮𝐞, not market value, and rates may vary depending on the structure (e.g. trust-held property).
💡 Tip: If you own land in multiple states, your liability is calculated per state – not combined.

🚨𝐌𝐘𝐓𝐇: “𝐈 𝐨𝐩𝐞𝐫𝐚𝐭𝐞 𝐚𝐬 𝐚 𝐜𝐨𝐦𝐩𝐚𝐧𝐲, 𝐬𝐨 𝐈 𝐩𝐚𝐲 𝐭𝐚𝐱 𝐚𝐭 𝐭𝐡𝐞 𝟐𝟓% 𝐜𝐨𝐦𝐩𝐚𝐧𝐲 𝐫𝐚𝐭𝐞 𝐢𝐧𝐬𝐭𝐞𝐚𝐝 𝐨𝐟 𝐦𝐲 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐦𝐚𝐫𝐠𝐢𝐧𝐚𝐥 𝐭𝐚𝐱 𝐫𝐚𝐭𝐞.”

💥💥𝐅𝐀𝐂𝐓: There’s a special rule called Personal Services Income (PSI) to 𝐩𝐫𝐞𝐯𝐞𝐧𝐭 𝐢𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥𝐬 𝐟𝐫𝐨𝐦 𝐥𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐭𝐡𝐞𝐢𝐫 𝐭𝐚𝐱 𝐛𝐲 𝐮𝐬𝐢𝐧𝐠 𝐚 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐞𝐧𝐭𝐢𝐭𝐲 when the relationship with clients is 𝐬𝐢𝐦𝐢𝐥𝐚𝐫 𝐭𝐨 𝐛𝐞𝐢𝐧𝐠 𝐚𝐧 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞 𝐫𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩.

📌𝐖𝐡𝐚𝐭 𝐢𝐬 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐈𝐧𝐜𝐨𝐦𝐞 (𝐏𝐒𝐈)?
PSI is income earned mainly from your personal skills, knowledge, or effort, not from selling products or outsourcing the work to others.

✅Examples of PSI include:
✅Freelancers and consultants earning fees for their services.
✅Contractors and tradespeople paid for labor, not materials or products.
✅Professionals, like designers or developers, paid for their expertise.

🚩𝐖𝐡𝐚𝐭 𝐇𝐚𝐩𝐩𝐞𝐧𝐬 𝐖𝐡𝐞𝐧 𝐭𝐡𝐞 𝐏𝐒𝐈 𝐑𝐮𝐥𝐞𝐬 𝐀𝐩𝐩𝐥𝐲?

❌𝐈𝐧𝐜𝐨𝐦𝐞 𝐢𝐬 𝐭𝐚𝐱𝐞𝐝 𝐚𝐭 𝐲𝐨𝐮𝐫 𝐩𝐞𝐫𝐬𝐨𝐧𝐚𝐥 𝐫𝐚𝐭𝐞, 𝐞𝐯𝐞𝐧 𝐢𝐟 𝐞𝐚𝐫𝐧𝐞𝐝 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝐚 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬.
❌𝐃𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧𝐬 𝐚𝐫𝐞 𝐥𝐢𝐦𝐢𝐭𝐞𝐝 𝐭𝐨 𝐰𝐡𝐚𝐭 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬 𝐜𝐚𝐧 𝐜𝐥𝐚𝐢𝐦. This means no deductions for rent, mortgage interest, or property taxes on your home.

♻𝐖𝐡𝐚𝐭 𝐇𝐚𝐩𝐩𝐞𝐧𝐬 𝐖𝐡𝐞𝐧 𝐭𝐡𝐞 𝐏𝐒𝐈 𝐑𝐮𝐥𝐞𝐬 𝐃𝐨𝐧’𝐭 𝐀𝐩𝐩𝐥𝐲?
✅The income stays within your business entity and is taxed at the business rate, which could be lower than your personal tax rate.
✅Your business can claim all legitimate deductions, just like any other business.
✅Your business doesn’t have to meet extra PAYG withholding requirements under the PSI rules. Standard PAYG rules still apply.

Stay tuned for our next post, where we’ll break down the conditions for the PSI regime to apply and how to avoid costly mistakes when setting up a company without fully understanding the impact of PSI on your business.

🧠 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐭𝐨 𝐜𝐥𝐚𝐢𝐦 𝐭𝐡𝐞 𝐒𝐤𝐢𝐥𝐥𝐬 & 𝐓𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐁𝐨𝐨𝐬𝐭 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐅𝐘𝟐𝟒 𝐭𝐚𝐱 𝐫𝐞𝐭𝐮𝐫𝐧?
Avoid these common mistakes 🚫

The 𝐒𝐤𝐢𝐥𝐥𝐬 𝐚𝐧𝐝 𝐓𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐁𝐨𝐨𝐬𝐭 gives small businesses a 𝟐𝟎% 𝐛𝐨𝐧𝐮𝐬 𝐝𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 for eligible external training provided to employees. It applies to training costs incurred between 𝟐𝟗 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟐 and 𝟑𝟎 𝐉𝐮𝐧𝐞 𝟐𝟎𝟐𝟒.

Here are some common mistakes to avoid:👇

❌ Not actually carrying on a business or having turnover over $50M
❌ Claiming for training that wasn’t provided to an employee
❌ Sole traders claiming training for themselves
❌ Claiming more than the extra 20%
❌ Training not from a registered training provider
✅ Check you meet the 𝐞𝐥𝐢𝐠𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐫𝐮𝐥𝐞𝐬 before claiming! The ATO is watching this one closely 👀

Need help navigating this? We're here to support you 💼

Quarterly BAS? You Might Be Switched to Monthly from 1 April 2025!
The ATO is cracking down on businesses with a history of 𝐧𝐨𝐧-𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 (example: late BAS lodgments, missed payments, or incorrect GST reporting)

🗓️ 𝐅𝐫𝐨𝐦 𝟏 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟓, the ATO may shift non-compliant businesses from 𝐪𝐮𝐚𝐫𝐭𝐞𝐫𝐥𝐲 𝐭𝐨 𝐦𝐨𝐧𝐭𝐡𝐥𝐲 𝐆𝐒𝐓 𝐫𝐞𝐩𝐨𝐫𝐭𝐢𝐧𝐠 to help improve compliance and build better habits.

Here’s what you need to know:
⚠️ If you’ve had issues in the past, you might be moved to monthly reporting — 𝐚𝐧𝐝 𝐲𝐨𝐮’𝐥𝐥 𝐬𝐭𝐚𝐲 𝐨𝐧 𝐢𝐭 𝐟𝐨𝐫 𝐚𝐭 𝐥𝐞𝐚𝐬𝐭 𝟏𝟐 𝐦𝐨𝐧𝐭𝐡𝐬.
📝 You can request a review if you believe you’ve been incorrectly flagged.
💡 Want more control over your cash flow? You can 𝐯𝐨𝐥𝐮𝐧𝐭𝐚𝐫𝐢𝐥𝐲 𝐨𝐩𝐭 𝐢𝐧 to monthly GST reporting — many small businesses actually find it easier to manage!

Stay ahead. Review your lodgment history and stay compliant 💼

📣 𝐓𝐚𝐱 𝐓𝐢𝐦𝐞 𝐑𝐞𝐦𝐢𝐧𝐝𝐞r – FY24 tax returns are due by 𝟏𝟓 𝐌𝐚𝐲 𝟐𝟎𝟐𝟓 if you're using a 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐞𝐝 𝐭𝐚𝐱 𝐚𝐠𝐞𝐧𝐭.
Haven’t engaged one yet? ⏳ It’s time to act 𝐀𝐒𝐀𝐏! Most agents are flat out this time of year, and it can take 𝐰𝐞𝐞𝐤𝐬 to get everything sorted.

✅ Start gathering your documents
✅ Reach out to a tax agent now
✅ Don’t leave it to the last minute

A little planning now can save you a lot of stress later!

Today's motivational quote 🤭😂🤦‍♂️

𝐃𝐢𝐝 𝐲𝐨𝐮 𝐤𝐧𝐨𝐰 that Australia is one of the few developed countries with 𝐧𝐨 𝐢𝐧𝐡𝐞𝐫𝐢𝐭𝐚𝐧𝐜𝐞 𝐭𝐚𝐱—so you won’t be taxed just for receiving an inheritance.

However, some inherited assets may still come with tax obligations:
📌 𝐂𝐚𝐩𝐢𝐭𝐚𝐥 𝐆𝐚𝐢𝐧𝐬 𝐓𝐚𝐱 (𝐂𝐆𝐓) – If you sell an inherited asset (like property or shares), CGT may apply.
📌 𝐈𝐧𝐜𝐨𝐦𝐞 𝐓𝐚𝐱 – Any rental income or dividends from inherited property or shares are taxed as usual.
📌 𝐒𝐮𝐩𝐞𝐫𝐚𝐧𝐧𝐮𝐚𝐭𝐢𝐨𝐧 𝐓𝐚𝐱 – Super passed to a spouse is tax-free, but 𝐧𝐨𝐧-𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐭𝐬 (𝐞.𝐠., 𝐚𝐝𝐮𝐥𝐭 𝐜𝐡𝐢𝐥𝐝𝐫𝐞𝐧) 𝐦𝐚𝐲 𝐩𝐚𝐲 𝟏𝟓% 𝐭𝐚𝐱 + 𝟐% 𝐌𝐞𝐝𝐢𝐜𝐚𝐫𝐞 𝐥𝐞𝐯𝐲 on the taxable component.

There’s been talk about introducing an inheritance tax in Australia, but for now—enjoy the tax break while it lasts.

🔴 𝐌𝐲𝐭𝐡: "If I earn more and move into a higher tax bracket, I’ll take home less money because of higher taxes."
✅ 𝐅𝐚𝐜𝐭: Your entire income is NOT taxed at the higher rate—only the portion that falls into the new bracket!

📌 𝐇𝐨𝐰 𝐈𝐭 𝐖𝐨𝐫𝐤𝐬:
💡 𝐄𝐱𝐚𝐦𝐩𝐥𝐞: Let’s say you earn $𝟏𝟑𝟎,𝟎𝟎𝟎 per year. The current tax rates are:
✅ $0 – $18,200 → Tax-free
✅ $18,201 – $45,000 → 16% tax
✅ $45,001 – $135,000 → 30% tax
✅$135,001 – $190,000 → 37% tax
✅ $190,001+ → 45% tax
🔹 𝐖𝐢𝐭𝐡 𝐚𝐧 𝐢𝐧𝐜𝐨𝐦𝐞 𝐨𝐟 $𝟏𝟑𝟎,𝟎𝟎𝟎, you’re in the 30% tax bracket (assuming no deductions):
📊 𝐓𝐨𝐭𝐚𝐥 𝐭𝐚𝐱: 0+($45,000−$18,200)×16%+($130,000−$45,000)×30% = $29,788
💰 𝐍𝐞𝐭 𝐭𝐚𝐤𝐞-𝐡𝐨𝐦𝐞 𝐩𝐚𝐲: $130,000 - $29,788 = $𝟏𝟎𝟎,𝟐𝟏𝟐

𝐍𝐨𝐰, 𝐢𝐦𝐚𝐠𝐢𝐧𝐞 𝐲𝐨𝐮 𝐠𝐞𝐭 𝐚 $𝟏𝟎,𝟎𝟎𝟎 𝐩𝐚𝐲 𝐫𝐚𝐢𝐬𝐞
Your income is now $𝟏𝟒𝟎,𝟎𝟎𝟎, putting you in the 𝟑𝟕% 𝐭𝐚𝐱 𝐛𝐫𝐚𝐜𝐤𝐞𝐭—but 𝐨𝐧𝐥𝐲 𝐭𝐡𝐞 𝐩𝐨𝐫𝐭𝐢𝐨𝐧 𝐨𝐯𝐞𝐫 $𝟏𝟑𝟓,𝟎𝟎𝟎 𝐢𝐬 𝐭𝐚𝐱𝐞𝐝 𝐚𝐭 𝟑𝟕%:
🔹 $5,000 of the raise is still taxed at 30%
🔹 The next $5,000 is taxed at 37%
📊 𝐍𝐞𝐰 𝐭𝐨𝐭𝐚𝐥 𝐭𝐚𝐱:
0+($45,000−$18,200)×16%+($135,000−$45,000)×30% + ($140,000-$135,000)*37% = $33,138
💰 𝐍𝐞𝐰 𝐭𝐚𝐤𝐞-𝐡𝐨𝐦𝐞 𝐩𝐚𝐲: $140,000 - $33,138 = $𝟏𝟎𝟔,𝟖𝟔𝟐
𝐓𝐡𝐞 𝐁𝐨𝐭𝐭𝐨𝐦 𝐋𝐢𝐧𝐞:
✅ Your income 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐛𝐲 $𝟏𝟎,𝟎𝟎𝟎 (𝟖%)
✅ Your tax 𝐢𝐧𝐜𝐫𝐞𝐚𝐬𝐞𝐝 𝐛𝐲 $𝟑,𝟑𝟓𝟎 (𝟏𝟏%)
✅ BUT your 𝐭𝐚𝐤𝐞-𝐡𝐨𝐦𝐞 𝐩𝐚𝐲 𝐬𝐭𝐢𝐥𝐥 𝐰𝐞𝐧𝐭 𝐮𝐩 𝐛𝐲 $𝟔,𝟔𝟓𝟎

So no, 𝐞𝐚𝐫𝐧𝐢𝐧𝐠 𝐦𝐨𝐫𝐞 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐦𝐞𝐚𝐧 𝐲𝐨𝐮 𝐭𝐚𝐤𝐞 𝐡𝐨𝐦𝐞 𝐥𝐞𝐬𝐬—you just pay a bit more tax on the extra portion!