Resources

Under new legislation all existing and future directors are required to apply for a director ID. Directors must apply for their Director ID number themselves. It cannot be completed by an ASIC agent. There are 3 ways to verify & apply for the Director ID. All directors need to complete this during the transitional period ending November 30th, 2022.

The ATO’s occupation and industry guides provide information will help you to prepare your tax return and understand which deductions can be claimed based upon your specific industry.

The ATO’s BAS information link helps owners of small or large business understand GST reporting requirements. This resource has additional links to other useful information regarding PAYG instalments, due dates for lodging and pay the BAS, and FBT instalments.

The ATO’s working from expenses explained how employees who works from home, may be eligible to claim a deduction for expenses incurred. This link also provides an additional resource like the Home Office Expenses Calculator.

The ATO’s small business benchmarks are a guide to help you compare your business's performance against similar businesses in the same industry.

This short video explains how as a MYOB customer you can link bank statements to help categories any expenses. This feature assists in either the preparation of the monthly or quarterly BAS statements or end-of-financial year accounting paperwork and tax return. MYOB explains our to link bank feeds for each major bank in Australia.

This short video explains how as a XERO customer you can link bank statements to help categories any expenses. This feature assists in either the preparation of the monthly or quarterly BAS statements or end-of-financial year accounting paperwork and tax return.

One service that Balance Corporation provides is the preparation and lodgment of payroll information directly to the ATO. Single touch payroll is a mandatory obligation for all employers. If you haven’t started reporting through STP, you need to start reporting as soon as possible as penalties may apply.

The ATO sets out guidelines for the way business can claim deductions of the cost of an asset in the year the asset was first used or installed. Please utilize this link to understand the different methods available for your business.