Mid-Financial Year Business Check In
It’s the start of a new calendar year which marks the middle of the financial year, which is a great time to do a health check on your business to ensure you’re on track to meet your end-of-financial-year goals. We have collated some key steps you should be taking to ensure you successfully finish the […]
New Requirements for Not-For-Profits who Self Assess for Income Tax Exemption!
There has been a recent announcement which will effect not-for-profits who self-assess for income tax exemption. From 1 July 2023, non-charitable income tax exempt not-for-profits with an active Australian Business Number (ABN) will need to submit online self-review forms to the ATO to remain eligible for the exemption. In previous times, not-for-profits have not been […]
Rising Wage Costs Causing Pressure On Small Businesses
Country-wide small businesses are struggling to keep their head above water with the rising wage costs. Pressure is building up against small businesses to find ways to cover the dramatically increased high staff costs. Recently, the national minimum wage was increased by 5.2% as well as modern award minimum wage rates rose by 4.6%, which […]
Common Issues We See NFPs Face
Nonprofit organisations face common issues that any company faces, for example adapting to new technology and staying up to date with accounting and regulatory requirements. However, nonprofits also face some additional challenges specific to their sector. Our team at Hopscotch Accounting are here to break down some common issues we see and how we can […]
Our Tips to Prepare Your Business for End of Financial Year (EOFY)
End of the Financial Year is an important time for businesses; completing bookkeeping, tax return and planning for a new financial year. Having the basic core structure for your business ready in advance helps you to be organised and work smarter when EOFY comes around. To help you to get things on track, we have […]
Financial Budget 2022-2023
As you may know, the 2022 Federal Budget was recently announced. The level of interest in the 2022-23 Federal budget is extraordinary. The Treasurer was amazed at the resilience of the Australian economy and the pace of the economic rebound from a COVID-induced recession in 2020. Here are some of the main takeaways from this […]
Find out what flood assistance is available to you
As we all know, large parts of south-east Queensland and Northern New South Wales have been devastated by floods in the past months. Emergency crews have been stretched beyond normal limits and thousands of residents and businesses have a long road ahead. There are a number of relief and recovery programs available to residents in […]
Our tips for building a successful 2022 budget
Building and sticking to a budget is a key component in driving your organisations financial future and can influence (if not make or break) your overall operations. Creating an effective budget isn’t as simple as waving a magic wand.. Nevertheless, with our help, creating a budget can be simplified. Here are our tips to building […]
Are you prepared for EOY?
The end of another year is fast approaching and what a rollercoaster year 2021 was. Lockdown across NSW became the new norm. It has, however, become difficult for employers to properly manage employee annual leave balances due to the pandemic and staff members building up large amounts of leave. So now you’re left asking yourself […]
Top 4 Benefits of Virtual Bookkeeping
Virtual bookkeeping is becoming more and more popular nowadays with a lot of businesses moving to online contracting due to the pandemic. Independent contractors will help you stay on top of your accounting and bookkeeping needs as if they were an onsite employee. Here are our top four benefits of virtual bookkeeping: Bookkeeping with less […]