September 2019 | Ascendum Business Services

September 30, 2019
Financial , SMSF , Strategies
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Unleash the First Home Super Saver Scheme (FHSS)

Unleash the First Home Super Saver Scheme (FHSS) The First Home Super Saver (FHSS) Scheme was proposed in 2017 Federal Budget for the first time and was passed in both Parliament house while receiving Royal Assent in December 2017. The Scheme has aimed for reducing the pressure on housing affordabil...

BEnefits of Using First Home Super Saver Scheme (FHSS)

September 25, 2019
Financial , SMSF , Strategies
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What are the Unseen Benefits of FHSS Scheme?

Prior to the launching of the FHSS Scheme, there were no major benefits available for the first-time home-buyers. So let us dig more into the further benefits of using the FHSS Scheme for the same. Financial hardship provision In case of any applicant owning a house previously in Australia but due t...

September 23, 2019
Financial , SMSF , Strategies
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What Are the Release Options of FHSS?

With the ever-changing scenario of Australian accounting requirements and regulations, it is tough to keep an updated for the same. Let us have a further look at the option of FHSS amount release and savings alternatives. Apply for savings release The applicant can check his/her super funds at any p...

September 18, 2019
Accounting Service Outsourcing , Strategies
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Benefits of having SOC II Compliance Offshore Partner

SOC II is developed by an American Institute of CPA’s. Basically, SOC II insures that your organization’s data is safe. SOC II makes sure that the system is set up so they can assure security, availability, processing integrity, confidentiality, and privacy. SOC II is a process that is time-cons...

September 16, 2019
Budget , Employers Income , Financial , Taxation
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Simple Guidance For You In Fringe Benefit Tax

Fringe Benefits Tax was first imposed in 1986. The following tax is to be paid by the employers to the government to offer fringe benefits to their employees. Fringe Tax can be understood in layman language as tax to be paid by an employer on any benefits provided to employees above their salary. ...

September 12, 2019
Benefits of Digital Transformation , SMSF , Strategies
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Getting an Update About Limited Recourse Borrowing Arrangement

Limited Recourse Borrowing Arrangement (LRBA): An provision for the SMSF Trustee borrowing a loan from a third-party lender. This arrangement is useful when the trustee uses those funds for the purchase of a single asset (or collection for identical assets having the same market value) held in trust...

September 9, 2019
Announcement , Benefits of Digital Transformation , SMSF , Strategies
Comments : 0

Have You Heard About Transfer Balance Account Report Reporting?

For SMSFs, one new event-based reporting (EBR) framework has commenced since July 1, 2018. This reporting helps the ATO to administer the Transfer Balance Cap. The applicants generally need to start reporting to ATO under Entry-Based Reporting [EBR] framework when their first member commences a reti...

September 5, 2019
Accounting , Accounting Service Outsourcing , Bookkeeping , Payroll
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Is Bookkeeping and Accounting Equivalent? Probably NO!!

Might sound awkward but most of the business owners use the term of bookkeeping and accounting interchangeably. The same is true that they play an important part in the company’s finance management, however, they have some key differences. This means that the business owners also need to get aware...

Unnoticed Bookkeeping Solutions for Non-Tech Business Owners

Hearty Congratulations!! You have been a business owner who is capable of turning your passion into a profitable business. You would get your hands on something that you love. This is what most of the business owners strive for. However, when it comes to a long list of to-do tasks that you might not...

Month: September 2019

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