What is the Cloud?

What is the Cloud?

The cloud is the Internet; a worldwide system of computer networks. Cloud computing means delivering computer services over the Internet, including services such as storage, networking and software.Previously, businesses mostly ran software downloaded on their...
What is Input-Taxed?

What is Input-Taxed?

Not all goods and services sold by businesses include 10% GST in the price. One type of sale that fits this description is called Input-Taxed. One of the most common types of Input-Taxed sales are financial supplies such as loans, bank account fees, life insurance,...
What Does BAS Excluded Mean?

What Does BAS Excluded Mean?

Goods or services that are BAS Excluded are outside of Australia’s Goods and Services Tax (GST) legislation, which means they are not subject to 10% GST. These transactions are also called “out of scope”. Some of the most common BAS Excluded items are:...
What Does GST-Free Mean?

What Does GST-Free Mean?

Did you know GST-free sales and purchases are actually not free from Australia’s Goods and Services Tax? A little bit confusing, hey? Don’t worry, let us break it down for you. There are many goods and services that you buy and sell that are GST-free, including...
What is Single Touch Payroll?

What is Single Touch Payroll?

Employers used to report payroll information to the Australian Taxation Office (ATO) once a year, but this has changed under a new system called Single Touch Payroll (STP). STP has been compulsory for all businesses since July 2019. With STP, every time an employer...