I know, I’ve said it before and I’ll say it again – keeping records is important.
We know the Australian Taxation Office (ATO) have established rules that you can read here, but I am still surprised when I am asked by a client to “just claim what I can without receipts”…
You see, there’s no such thing!
There is a misunderstanding that individual taxpayers can claim work related motor vehicle use of 5,000 kilometres with out records – this is not exactly true. While receipts for fuel and the like are not required, there is a requirement that you must be able to prove you travelled the kilometres (perhaps by way of a diary note).
Another misunderstanding is that individual taxpayers can claim up to $300 in work related deductions without receipts – this is not exactly true. While the specific receipts are not required, there is a requirement that you can prove you incurred the expense.
The only way to prove you incurred these expenses is to keep records.
I’ve said it before, and I’ll say it again – keeping records is important!
I love an inspiring quote!
A bit like my horoscope, when I read them and they speak to me positively then I believe them, and if I feel otherwise then I leave them where I found them.
Over on Instagram and Facebook I regularly post inspiring or happy quotes under Bron Levett Coaching.
If you are interested in following along, search @bronlevettcoaching on Instagram or just click here for Facebook.
This particular quote is one of my favourites – “What a wonderful thought it is, that some of the best days of our lives haven’t happened yet!”
To me this means that no matter where we are in our lives, some days will be better than others, and as long as there are days to be lived, there will certainly be good days – let’s go and live them.
I hope you enjoy.
Today we’re talking filing – only not the manual kind like this picture. Today we’re talking filing on your computer.
If, like me, you create a multitude of word and excel documents for your clients (or customers, as the case may be), and you receive many PDF files or perhaps you need to file bills, invoices and bank statements online – it is EXTREMELY important to be able to find them.
It follows, therefore, that naming and organisation of online files is also EXTREMELY important.
I like to keep my file names short yet descriptive, and I am a fan of separating files into relevant folders.
In most cases I begin with Surname_Firstname, followed by a selection of folders such as Permanent, 2015, 2016, 2017 (to represent the financial year) and then the document beginning with the applicable date.
An example of this might be 2017 06 30 WP (WP being workpapers), or within a folder labelled BAS I would create a document called 2016 09 30 Signed BAS.
Does this make sense? At least it does to me and that is probably most important at this stage!
At the end of the day, your filing system only needs to make sense to you, but it should be consistent and easy to follow. If it is easily done, then you’ll be more likely to file correctly in the first place, and searching for things down the track will be a breeze – trust me (I’m an Accountant!)
Many of us have just finished supporting the Australian football season (of various codes) and we know that having a coach in sport is a given.
The sole intention of professional sportspeople and teams is to win and the coach provides the structure and support to help them get there.
That makes sense doesn’t it? Just like A, B, C.
The same can be said for business.
How many of you have gone into business because you have a passion for your product or service? Hopefully ALL of you! But just because you have passion doesn’t mean you won’t need support.
Not all business coaches are the same, we each have individual strengths and as a business coach I can help you with public speaking and communication skills, how to start a business, assistance with managing your team, and help with the balance between work and life (for you as the business owner, or for your staff).
Whether you’re looking for executive coaching, start-up business coaching, management coaching or staff coaching and team development there are just a few things you need to consider first:
- are you coachable (willing to welcome the coaching into your world and be prepared to do the work)?
- are you open to answering questions honestly without judgement?
- are you open to receiving feedback?
If so, contact me or email firstname.lastname@example.org today.