Australian Bookkeepers Network

The proposed changes to the TASA Code of Professional Conduct have been finalised and are now law. Kelvin Deer, director of the Australian Bookkeepers Association (ABA), offered this perspective: “Significant consultation time was invested with Treasury to force modifications to the proposed Code of Conduct changes”. The changes to Treasury’s Code Determination mean that they are more workable than was originally the case”. Importantly, a transitional measure was introduced, which means that smaller practitioners (under 100 employees) will not need to make changes until 30 June 2025. Find out more: https://lnkd.in/gr5kSm9M

Understanding Choice Liability and Superannuation Obligations With the ATO’s increased focus on superannuation guarantee (SG) compliance, especially through enhanced data matching, employers must be more vigilant than ever. When SG obligations aren’t met, an employer may face a Superannuation Guarantee Charge (SGC) liability, which consists of: SG Shortfall: Calculated on salary and wages. Nominal Interest: 10% p.a. from the first day of the quarter. Admin Fee: $20 per employee per quarter. One lesser-known aspect, however, is Choice Liability—an added liability if employers don’t follow employee fund choice rules. Here’s a quick breakdown of the scenarios where a choice liability could apply: ? No standard choice form given within the required timeframe. ? Contributions made to the default fund instead of the employee’s chosen fund. ? Lack of action on obtaining stapled super details for new employees. Choice Liability can increase the SGC or even trigger one when it otherwise wouldn’t apply. Example: If an employee’s SG contributions are mistakenly paid into the default fund instead of their chosen fund, the employer might face a choice liability, calculated as a percentage of the shortfall. Key takeaway: While choice liability is capped at $500 per employee per offence, being proactive with SG compliance is essential to avoid penalties and ensure smooth operations. For a more in-depth look at choice liability, read our whole Getting Technical here: https://lnkd.in/g8DRDde

Ever wanted to know more about MYOB's partnership program? Well here's your chance! Our Platinum sponsors for #TheBookkeeperEvent are helping YOU take your practice to the next level and engage with your clients through stronger relationship management and product offerings! Read on to find out more!

?? AI Solutions for Bookkeepers – Practical Tools for Your Business! ?? We're excited to announce our upcoming Online Coffee Club, building on the success of “The AI Driven Bookkeeper” session from our recent sold-out event in Adelaide! The feedback from the AI sessions was overwhelmingly positive, highlighting the transformative potential of AI in our daily work. In this webinar, we’ll dive deeper into practical insights on how AI can support bookkeepers with everyday tasks. Join us as we: ? Explore how AI can help address common challenges in bookkeeping ? Learn ways to improve efficiency and streamline processes using AI ? Gain insight into integrating AI tools into your daily business activities This session is for everyone—whether you attended the conference or not! If you missed out, you’ll gain valuable insights into effectively using AI in your practice. For those who did attend, expect new information and even more helpful takeaways. So grab your favorite hot beverage and join us on Monday, 4th November 2024, at 1 PM AEST. Let’s harness the power of AI together! ??? Check your inbox for your registration link!

Last week we had the opportunity to hear from Hank de Jonge from de Jonge Read, one of our Platinum Sponsors at #TheBookkeeperEvent! This is a great summary on what he chatted about, with some key takeaways that our bookkeepers found so valuable ??

Partner Post ?? Harvey Norman Technology for Business 10 Reasons Why Bookkeepers Need Cybersecurity: Join Our Webinar! You are invited to join us for an interactive webinar on Wednesday 23rd October at 10am to learn more about how important services such as a cyber plan can benefit your business. This event will provide in-depth insights into how you can protect your business and will cover important topics such as meeting your legal obligations and how AI may impact you. Webinar When: Wednesday 23rd October 2024 Time: 10:00am-11:00am Register here: t.ly/4x3rG

Partner Post ?? Harvey Norman Technology for Business 10 Reasons Why Bookkeepers Need Cybersecurity: Join Our Webinar! You are invited to join us for an interactive webinar on Wednesday 23rd October at 10am to learn more about how important services such as a cyber plan can benefit your business. This event will provide in-depth insights into how you can protect your business and will cover important topics such as meeting your legal obligations and how AI may impact you. Webinar When: Wednesday 23rd October 2024 Time: 10:00am-11:00am Register here: t.ly/4x3rG

So much learnt at the Australian Bookkeepers Network conference! Great sesssions from some fantastic presentors! A big highlight for me was connecting with some great app partners and meeting and networking with industry peers! Looking at continuing the conversations after the event!

Wow! What an incredible event!?The Bookkeeper Event - Adelaide 2024 was truly?game-changing?for the bookkeeping industry—packed with inspiration, innovation, a good dose of AI and a whole lot of fun along the way. There could not have been a better theme then Doing It Better!!! A massive?THANK YOU?to our incredible speakers for sharing their knowledge and passion, to our amazing sponsors for their continued support, the ABN team who are simply the best, our events team 1e group?Garth Taylor?and most importantly, to the?over 300 bookkeepers?from across the country who made this event truly unforgettable! Together, we’re shaping the future of bookkeeping! It’s a privilege to be a part of such an incredible community. Bring on 2026 – well after a little bit of rest and recharge first. To quote the last song of the night at the after party (well until nobody left the dance floor and wanted another last song!) So good, So good, So good!

Partner Post ?? Harvey Norman Technology for Business 10 Reasons Why Bookkeepers Need Cybersecurity: Join Our Webinar! You are invited to join us for an interactive webinar on Wednesday 23rd October at 10am to learn more about how important services such as a cyber plan can benefit your business. This event will provide in-depth insights into how you can protect your business and will cover important topics such as meeting your legal obligations and how AI may impact you. Webinar When: Wednesday 23rd October 2024 Time: 10:00am-11:00am Register here: t.ly/4x3rG