Keeping up with the latest updates in accounting software helps businesses manage their finances more efficiently. Xero, our preferred accounting software, has introduced several new features in January 2025 that aim to make invoicing, reporting, and inventory management easier for users. Improved Invoicing with Tracking Options Xero now lets you add new tracking options while […]
As a business owner or taxpayer, it’s essential to understand your tax obligations. Two key terms you may encounter are PAYG withholding and PAYG installments. While they might sound similar, they serve different purposes and affect different groups. Here’s a breakdown to help you navigate these systems confidently. What is PAYG Withholding? PAYG withholding is […]
As February rolls around, it’s a crucial time for businesses to focus on their financial obligations and plan ahead. This month marks the midpoint of the Australian financial year, making it the perfect time to review your financial position and prepare for upcoming deadlines. At Oculus Group, we’ve outlined the key areas to focus on […]
In the era of digital transformation, the method of file management has shifted significantly, ushering in the age of electronic storage. Gone are the days of cumbersome paper files and bulky cabinets; electronic storage has revolutionised the way we organise, access, and safeguard information. Efficiency and Accessibility One of the primary advantages of electronic storage […]
With the festive season upon us, we at Oculus would like to let our clients know about our holiday closure dates. Our office in Tweed Heads will be closed from noon Thursday 19 December and will reopen on Monday 6 January 2025. Get in touch for Pre-Christmas assistance We understand that many businesses and individuals […]
Filing tax returns is a crucial part of financial management, and in Australia, you have the choice of either doing it yourself online or engaging a professional accountant. Both options have their advantages and are suitable for different situations. Doing It Yourself Online Advantages: Best For: Considerations: Engaging a Professional Accountant Advantages: Best For: Considerations: […]
The Fair Work Commission (FWC) in Australia has announced important updates affecting business owners starting from July 1, 2024. These changes include a 3.75% increase in the national minimum wage and award wages, as well as an increase in the Super Guarantee rate from 11% to 11.5%. Key Changes for Business Owners Wage Increases The […]
We are all feeling the rising cost of living. And we have all been hearing a lot about the tax cuts that will help us all that come into effect on the first of July 2024. But what exactly do these tax cuts involve and how do they help us? Good question! The Australian Taxation […]
It’s a couple of months out from tax time. But it’s not too early to start preparing your bookwork for the end of the financial year. Getting a head start on your bookwork before tax time can make the process smoother and less stressful. Here are some steps you can take to prepare: Organise your […]
Financial statements are essential tools that provide a snapshot of your business’s financial health and performance. While they might seem complex at first glance, breaking down the key components can offer a clearer understanding of your financial standing. Let’s take a look at the fundamental elements of financial statements and how they can be interpreted. […]
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