October 2011 Members Newsletter

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October 2011

Contents

mportant news forou

2 It is OK to be abookkeeper

3 Confirmation from ourinsurers - completingofficial forms

4 ICB's 2012 NationalConference

est Practiceookkeeping

5 Record keeping

thoughts

9 Keeping the rightsuperannuationrecords

9 How torecord expenses ofsuperfunds

10 Common PAYGInstalment errors

AS Agentnformation

11 Renewing your BASAgent registrationwebinar

11 Changing yourdetails

12 Trusts do not matter

13 Written reports by athird party

It is OK to be a bookkeeper -You can be a bookkeeper without being a BASAgent1

Completing official forms- Where do you stand, confirmation from our insurer1

Record keeping thoughts- What you need to keep and how to keep track1

Renewing your BAS Agent registration- Webinar now available online

1 Bookkeeping eBRIEF, October 2011 client newsletter- Imitation is the best

form of flattery1

Help for small businesses experiencing short-term financial difficulties - Howthe ATO can help1

Digital Certificates will die - You will need an AUSkey1

- What does this mean, click on the image to find out?

New Member Benefits - And we have quite a selection for you this month

ICBenefits- Do you like to shop, do you like to save money, check out yournew Member Benefit - AND IT IS FREE1

Mentor Me- You asked, we listened, mentoring now available for you andyour business

1 Renewing your BAS Agent registration- If you missed out the webinar now

available online

1


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PE Opportunities

14 MYOB's NextGenerationAccountRight - NEWWORKSHOPSADDED

CB Network

Meetings

16 Network Meetingquestion of themonth??

17Upcoming NetworkMeetings

Other Thingsappening in the

World

18 Digital Certificates willdie

19 Reckon changesserver

19 Fair Work allows 90minutes shifts

20 Use of individualflexibility

arrangements

21 Employers guide toyoung workers

rom the ICB

his month

22 ICBenefits

24Resource of the

month - BusinessInformation

24 Client Newsletter -eBRIEF - October2011

25 Apologies for ourphones

26 ICB Member Guide &BAS Agent DefinitiveGuide

1

Important Information for You1

It is OK to be a bookkeeper1

What is a bookkeeper? It is a person who may do the role of data processing

through to someone who may be relied on for BAS & Payroll services (A BASAgent). It is a person whose role is specifically the payroll function or the accountspayable or the accounts receivable. It is the consultant who attends the client oncea month or once a quarter, maybe to process their accounts, but maybe to reviewand reconcile and report.

It is a person who just might be doing what has typically been done by theaccountant for the business.

So the role can be quite specific or it can be all encompassing.

Its ok to be a bookkeeper, who isnt a BAS Agent!

Whats the difference? A BAS Agent is relied on for the purposes of meeting theobligations, claiming the entitlements of a BAS Provision.

You can perform bookkeeping as long as it is clear in your engagement with theclient and the way you perform the work that you are NOT relied on and not to berelied on.

Why would I be a Bookkeeper who is not a BAS Agent?

You work with others who are agents.1

You do not wish to jump the hurdles to be a BAS Agent in your own right:Cert IV etc.

How can I still provide full BAS Agent services to my client without being a BASAgent?

You can engage the services of a third party BAS Agent who is the partybeing relied on by your client and they specifically know it. All BAS Services

provided are detailed as provided by that Registered BAS Agent and allinvoicing for BAS Services states the services are provided by that BASAgent.1

You still provide all the underlying work, but when it comes time to rely on theaccuracy or the technical correctness of the BAS Service elements of whatyou do then the third party is relied on.

Its OK to be a bookkeeper!


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26 Latest news

26 What's new

27 Forum news

27ICB Links

27MembershipStatistics

28Supporters andSponsors

roducts andolutions

28Mentor Me

rom the ATO

Bookkeeping work may encompass helping the business meet many obligationsimposed by different authorities: Workers Compensation insurance calculations,reconciliations, annual estimates and payments; Payroll Tax calculations and forms,Superannuation Guarantee, etc.

The trash and sometimes threatening talk has started to get louder. Peopleprotecting their patch by putting down a creditable profession, "Bookkeeping", thatis becoming more popular.

We took a phone call from a bookkeeper in recent weeks in tears following thetirade from another professional who demanded (and thats the polite term I havechosen to use) that the bookkeeper was not allowed by law to do some of the workthat they had been doing. The professional stated adamantly that there is no waya bookkeepers PI Insurance would cover the work.

They were wrong on all counts.

If you are engaged by your client and authorized by them in respect to performingthe above work then onward and upward. Superannuation Guarantee is aninteresting one. Under the law, SGC work is a tax service and not a BAS ServiceGovernment is aware of this strange anomaly but it hasnt officially been changedyet.

Have a look at the restatement of what is includedin our preferred PI Policy allthe above is covered. It appears that many other bookkeeper and BAS Agent PIpolicies DO NOT cover these services you should check.

It is OK to be a Bookkeeper, in fact better than that: It is a great

place to be and a great career as Bookkeepers help businessin ways that others arent.

(Remember Bookkeeping, in our definition and our view, encompasses the widevariety of tasks that a typical bookkeeper/BAS Agent/Consultant performs).

What are your thoughts?

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onfirmation from our insurers1

an I complete official forms?

o you make payments on behalf of your clients from their bank accounts?

he Professional Indemnity policy recommended by ICB (Insurance Made Easy/Chubb policy) will provideotection where an innocent mistake has been made and a payment has been made in error. If this should

appen every effort should be made to retrieve the payment or the payment should be offset against currentfuture amounts that come due to be paid.
http://www.icb.org.au/out/?dlid=18068http://www.icb.org.au/out/?dlid=18068http://www.icb.org.au/out/?dlid=18068mailto:[email protected]?subject=ICB%20Monthly%20Newsletter&body=I%20would%20like%20to%20subscribe%20to%20the%20ICB%20monthly%20newsletter,%20thank%20you%20so%20much.mailto:[email protected]?subject=ICB%20Monthly%20Newsletter&body=I%20would%20like%20to%20subscribe%20to%20the%20ICB%20monthly%20newsletter,%20thank%20you%20so%20much.mailto:[email protected]?subject=ICB%20Monthly%20Newsletter&body=I%20would%20like%20to%20subscribe%20to%20the%20ICB%20monthly%20newsletter,%20thank%20you%20so%20much.http://www.icb.org.au/out/?dlid=18068


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When a client gives you an authority to access their accounts and make payments on behalf of the businessis strongly recommended that they provide you with a written authority (ICB procedure documents supportis). The authority should include the maximum amount of any one payment you can make and a daily limitnd you should stick to those limits. If you are not comfortable with the limits provided because they are toogh let your client know that you would prefer, they make payments above the amounts you are comfortableth.

number of bookkeepers have raised concerns that their Professional Indemnity insurance will not protectem if they make mistakes when making payments from their clients bank accounts or on their credit/debit

ards because one insurer has stated their policy will not cover claims of this nature.

you do not have the ICB recommended Professional Indemnity insurance it would be wise to check withour current insurer to make sure the policy does provide cover for mistakes if you are making payments forour clients. Time spent now with this enquiry may help you avoid a nasty surprise later on.

an I complete official forms for my clients?

ookkeepers constantly perform Workcover/Workers Compensation Calculations and Returns, Payroll Taxalculations and Returns, Super Guarantee Calculations and Returns and there may be many others.

We know of cases where accountants are demanding that Bookkeepers are NOT allowed to perform thesenctions. We also know that some insurance policies DO NOT cover bookkeepers for this sort of work. It is

CBs position that these services are very frequently part ofa bookkeepers normal duties and hence shoulde covered as normal bookkeeping duties.

ou should check to make sure that you can legally complete the forms before you do. In some cases therms will ask under the place where you are to signThe Capacity/Role and provides a list of authorisedgnatories such as Accountant/Bookkeeper/BAS Agent/Other.

he IME/Chubb Professional Indemnity policy, preferred by ICB will provide protection over these services.

you have any questions aboutProfessional Indemnity insurancecontact Sean or Helga from Insuranceade Easy on 1800 641 260, they will happy to discuss them with you, you dont have to be insured throughem.

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CB's 2012 National Conference

he dates are set!

he venues are set!

o pencil these dates in your diary now. Seats will be limited so make sure you have the day free.

Launceston

March 6, 2012The SebelCr St John & William

Adelaide

March 7, 2012The Mecure125 North Terrace

Perth

March 8, 2012The Pan Pacific207 Adelaide Terrace
http://www.icb.org.au/Insurance%20Detailshttp://www.icb.org.au/Insurance%20Detailshttp://www.icb.org.au/Insurance%20Detailshttp://www.icb.org.au/Insurance%20Details


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StreetsLaunceston

Adelaide Perth

Brisbane

March 13, 2012The Grand Mecure85 - 87 North QuayBrisbane

Cairns

March 14, 2012The Sebel17 Abbott StreetCarins

Darwin

March 15, 2012The Novotel Atrium100 The EsplanadeDarwin

Melbourne

March 19, 2012Melbourne & OlympicParkBatman AvenueMelbourne

Canberra

March 21, 2012EPIC CentreCr Flemington Rd &Federal HwyCanberra

Sydney

March 22, 2012The Menzies14 Carrington StreetSydney

urther details and costings coming soon, so make sure we have your email address up to date so you doot miss out.

............ But you cannot book yet

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est Practice Bookkeeping

ecord keeping thoughts

ecords to be kept include:

Bank statements Receipt books Cheque butts Bank deposit books Cash book Petty cash book and cash float Orders Creditor's invoices

ank statementsectronic download and import is becoming more frequent and is more efficient. Your clients bank will issuegular statements on their account(s). Discuss with them the statement frequency. If your client makes a lottransactions they may find a monthly bank statement useful. All payments received should be banked as

oon as possible through the business bank account, including all cheques and direct deposits.

ales invoicesach time a sale is made, create a sales invoice. Information on the invoice should include:

date of sale

order number or customer reference name and address of customer details of goods or services sold amount charged and whether the sale is cash or credit


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eceipt bookseeping on top of money coming in is just as important as being aware of sales. Issue a receipt for each andvery sale made.

receipt book can be used to list all receipts for credit sales into the cash book and a receipt should also beade out from the receipt book every time a cash sale is made. The receipt should clearly indicate that a salea cash sale.

s sound business practice to bank all sales proceeds on a daily basis. Where a cash register is used, theash receipt takes the form of a tape built into the register. The total of the tape (often referred to as the Zetting) should agree with the amount of cash banked each day.

he simplest forms of receipt books are the pre-carbonised duplicate variety. The top copy is provided to theustomer while the duplicate copy, which remains in the receipt book, is used as a basic source document forting in the cash book.

cash register tape does not, however, provide the all-important customer name and address. This is whyey should make out an invoice for all sales, including cash sales. The name and address of the customer

presents valuable information for future marketing plans.

heque buttsWhen using cheques to make payments, keep a record of each cheque written. Each cheque butt should

cord:

the date the name of the creditor the nature of the expenditure the amount paid

ank deposit booksl takings should be banked in full. Use the bank deposit book for cheque and cash payments. Electronic

ayments received will be registered automatically on their bank statement by their bank. When making aanual deposit at the bank, ensure your deposit book contains these details:

the date of banking a list of cheques received cash dissected by notes credit card slips

he total amount banked should agree with the total of receipts made out.

ash bookhis is probably the most important basic bookkeeping record as it summarises every item of cash that iseposited into or is paid from the business bank account. Office supply shops and newsagents can provide ae-ruled book for the task.

s important to keep the cash book continuously up-to-date. All columns should be totalled and crossalanced even if the totals are only jotted down in pencil. Periodically the balance shown on the cash book isconciled with the balance shown on the statements received from the bank. This procedure ensures thatscrepancies have not occurred. Using accounting software will simplify this task, this can then be managed

n the computer.

etty cash book and cash floatertain sundry payments may have to be made by cash (e.g. donations, buying milk, parking, staff provisionsc.) Rather than 'dipping into the till' to pay for these items it's preferable to draw a cheque for a smallmount of petty cash, say $100.00


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ach time this cash float is used, record in a petty cash book:

the date name of payee amount spent and nature of expense

these days of having to 'substantiate' items of expenditure it is essential to maintain complete records toupport taxation claims for expenses at the end of the financial year.

rom time to time a cheque will need to be drawn for petty cash to reimburse the petty cash tin up to themount of the float. For example if $82.50 has been spent there will only be $17.50 remaining in the tin. Aheque for $82.50 should therefore be drawn, cashed and that sum placed in the petty cash tin for future use.

rdersach time goods are ordered or services it's sound practice to write out an order. Using a pre-numberedder form, quote the order number to the supplier and mail the top copy of the order to them. These areten referred to as purchase orders.

sputes concerning supplies, quantities and prices are reduced if your client raises a purchase order forach order they place with their supplier. The supplier will soon understand that the business-like approachken with their ordering procedures will not allow them to argue later about details. Information on the order

hould be as comprehensive as possible.

reditors' invoicess soon as your client receives an invoice from a supplier, get them to check it against their order form. Thevoice should then be checked against the goods they have received. Only in this way can there be anfective stock control system. Any shortages or errors of fact should be notified to the supplier promptly.

nce checked, the invoices can be filed in an A - Z file or cabinet. Provided they comply with the supplier's

ading terms, an ideal system is to pay all suppliers once a month. Alternatively, they can schedule theayment to be made from their bank account using internet banking.

ecord Keeping Checklist -Members can download a Word version here

his checklist is provided for the purposes of conducting a review of the business records being kept.

re the records being kept? Do the records contain the right information?

ot all records are required, but justification should be noted. Some records are retained in the software - theetails should be checked but note this may be totally acceptable.

ECORDS APPLICABLESATISFACTORY

YES / NO

HOW /WHEREKEPT

ACTIONREQUIRED

ANKTATEMENTS

Paper / Electronic

REDIT CARDTATEMENT

Paper / Electronic

ALES INVOICES Date of saleABNCustomer name and addressOrder / Invoice numberCustomer referenceDetails of goods and / orserviceAmount chargedGST
http://www.icb.org.au/out/?dlid=18171%20http://www.icb.org.au/out/?dlid=18171%20http://www.icb.org.au/out/?dlid=18171%20http://www.icb.org.au/out/?dlid=18171%20


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Cash or credit

ECEIPTS Date of receiptOrder / Invoice number(s)being paidCustomer name and addressAmount receivedCash, cheque or credit card

HEQUES /AYMENTUTHORISATIONS

DateName of creditorWhat is being paidAmount being paid

ANK DEPOSITOOK

Date of depositList of all cheques (includingdetails)Cash (dissected by notes)Credit card payment slips

ASH BOOK DateAmountExpense typeColumns totalledCross balancedChecked to bank statement

ETTY CASH /ASH FLOAT

DatePaid to...... (eg: BP)Amount spentNature of expense (eg: Petrol)

RDERS DateSupplier name and addressPurchase order numberQuantities requiredDescription of goodsEstimated cost

REDITORSNVOICES CHECK against purchaseorderDateSupplier name and addressSupplier ABNQuantities receivedDescriptionPayment madeRemittance advice supplied

TO restate the record keeping requirements

eeping good records

he Australian tax system relies on taxpayers assessing their own tax affairs, which means you aresponsible for working out how much to declare and claim on your tax return. This is called a self-

ssessment system.

ou need to be able to show the ATO how you arrived at your figures - in some cases you may need toovide written evidence. Incomplete records could mean you have to pay more tax than you need to. Goodcords allow you to report your income accurately and claim all the deductions you are entitled to, includinghen you work out your capital gain or capital loss after you dispose of your investment.

aintaining good records will help you (and your tax agent if you have one):

prepare your tax return1

ensure that you're able to claim all your entitlements


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1 provide written evidence of your income and expenses if the ATO ask you to substantiate the

information you provide in your tax return

ecords you should keep

ou need to keep records of:

payments you've received - such as bank statements showing interest, statements from companies ormanaged funds showing dividends or distributions, and documents showing rent you've received1

expenses related to your investments - such as bank statements showing the interest charged onmoney you borrowed for an investment, receipts for expenses related to a rental property, and recordsof the decline in value of depreciating assets1

payments, expenses and other transactions relating to 'CGT assets' (that is, assets on which you canmake capital gains that become part of your income for tax purposes when you sell them).

ow long to keep records

enerally you have to keep your records for five years after the ATO has processed the tax return theyrelate.

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eeping the right superannuation records for employees

o you employ people?

o you pay superannuation to your eligible employees?

you answer yes to both these questions, do you know what records you need to keep for super? You musteep adequate records showing the amount of super paid for all your eligible employees.

uper records should include:

how you calculate any reportable employer super contributions how you calculate each of your employees salary or wages and ordinary time earnings copies of relevant salary sacrifice agreements you entered into with your employees copies of relevant industrial agreements with your employees evidence that you offered your eligible employees a choice of super fund

ou must keep super records:

for five years in English, or in a form that can be easily accessed and converted into English

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ow to record expenses of superfunds

ookkeepers do need to be aware of the implications of recording expenses paid by the employer or relatedntity where the expense belongs to the superfund.


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short they should be recorded into a separate account that will specifically identify them as contributions toe superfund by way of expense payment. Maybe call the account Superfund expenses paid

he ATO explains it as follows:

ayment of super fund expenses

you have an agreement with an employees super fund to pay expenses, such as insurance premiums anddministration fees, these expenses will count towards that employees concessional contributions cap. Aerson who exceeds their cap will have to pay extra tax.

oncessional contributions are sometimes known as pre-tax contributions.

ou should tell your employees if you pay some, or all, of their super fund expenses. This will help themanage their contributions and avoid exceeding their concessional contributions cap.

or more information about:

the current contributions cap amount and excess contributions tax, refer to Super contributions too

much super can mean extra tax1 employer contributions and salary sacrifice

efer to Employers superannuation

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ommon PAYG Instalment errors

rom the ATO

he ATO's focus has been on instances where the PAYG instalment amount reported for the quarter wasgnificantly different from previous PAYG instalment amounts.

hrough these discussions the ATO found common errors being made in the preparation of activityatements including:

adjusting instalment income amounts rather than varying the instalment rate reporting no PAYG instalments in the first two quarters, then compensating by adding that instalment

income to the final two quarters including only one months instalment income in the activity statement rather than income for the entire

quarter this occurred in some cases where goods and services tax sales equalled PAYG instalmentincome

not including instalment income due to the instalment rate being 0% reporting net income in label T1 instead of gross income

he ATO will continue to make these calls, focusing on the June 2011 activity quarter.

he ATO recommend you review your PAYG instalment rate each quarter to ensure youre reportingorrectly.

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http://www.ato.gov.au/supercapshttp://www.ato.gov.au/supercapshttp://www.ato.gov.au/supercaps


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AS Agent Information

enewing your BAS Agent registration webinar

We delivered 8 webinars to over 600 people on 'How to register as a BAS Agent' and now you can view thisopular webinar in your own time.

ow to register online as a BAS Agent', ICB Members can access the link to view the webinar onlineere

or non members, you can'purchase' access to webinar here for $20.00. Once your payment is processedou will receive an email containing the link to the webinar.

uring the webinar you will join Deborah Thompson and Rick Van Dyk in an 'online' online presentation toarn about what is required to renew your registration as a BAS Agent or you can download thePDF of theowerPoint presentation(or both).

We discuss:

What are the renewal options What information is needed to renew your registration What are the educational requirements How to complete the relevant experience section Where you can access resources that will assist you in completing the online

registration

Affiliate, Associate, Member and Fellow Members, The BAS Agent Definitive GuideEdition 3 (which you should have now received in the mail, if not please let us now andwe will mail you a copy) has been designed to assist you in your BAS Agent renewal and

is refered to in the Webinar.

The webinar goes for 1 hour and 26 minutes)

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hanging your details

hanged your details?? you need to tell both the ATO and the TPB

ecent communication from the ATO and confirmed by the TPB indicate that BAS agents will need to adviseoth bodies of changes in their details.

s a registered tax agent or BAS agent, you need to notify the Tax Practitioners Board (TPB) immediately ofny changes to your contact details.

o notify the TPB of changes to your contact details,update them online here.

he TPB advises us of any registrations they approve. However, the information they can provide to us doesot include all of your contact details when either you first register with them, or later when you contact them

change your details.
http://www.icb.org.au/ICB_Resources/renewinghttp://www.icb.org.au/ICB_Resources/renewinghttp://www.icb.org.au/ICB_Resources/renewinghttp://www.icb.org.au/Shop/Product/Renewing_your_BAS_Agent_registration_webinarhttp://www.icb.org.au/Shop/Product/Renewing_your_BAS_Agent_registration_webinarhttp://www.icb.org.au/Shop/Product/Renewing_your_BAS_Agent_registration_webinarhttp://www.icb.org.au/out/?dlid=17950http://www.icb.org.au/out/?dlid=17950http://www.icb.org.au/out/?dlid=17950http://www.icb.org.au/out/?dlid=17950http://www.tpb.gov.au/TPB/Subsidiary_Content/Update_your_agent_profile.aspxhttp://www.tpb.gov.au/TPB/Subsidiary_Content/Update_your_agent_profile.aspxhttp://www.tpb.gov.au/TPB/Subsidiary_Content/Update_your_agent_profile.aspxhttp://www.tpb.gov.au/TPB/Subsidiary_Content/Update_your_agent_profile.aspxhttp://www.icb.org.au/out/?dlid=17950http://www.icb.org.au/out/?dlid=17950http://www.icb.org.au/Shop/Product/Renewing_your_BAS_Agent_registration_webinarhttp://www.icb.org.au/ICB_Resources/renewinghttp://www.icb.org.au/ICB_Resources/renewing


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herefore, you also need to contact the ATO if you change any of the following details:

postal address phone number fax number email address

o provide the ATO with these changes, phone them on 1800 443 846

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rusts do not matter

rusts dont count for registration as a BAS Agent.

he only entities that can be registered BAS Agents are

Companies Partnerships Individuals

your business operates with a Trust as its structure then it is the Trustee entity that should register.

eeping it simple: Ignore the trust

OWNSIDEthe trustee of the trust is an individual then that individual MUST be a registered BAS Agent in their ownght ie that person must qualify as a BAS Agent with the right qualifications and experience.

ome have raised the problem that their life partner (arent I being politically correct today) is the sole

ustee of the Trust that runs their BAS Agent business.

What are their options?

1. The Business cannot register as a BAS Agent and the only way you may continue to provide BASServices is where you as a employee of that trust are also specifically documented and advised as theRegistered BAS Agent, it is you the individual who is providing the BAS Service and any invoice ordocument refers to you being the registered BAS Agent.1

2. Change the trustee to be a partnership of your partner and yourself. Then the partnership registers asan entity and can nominate you on its registration as the supervising BAS Agent that ensures the

partnership provides BAS Services properly. This is different to option #1 as in this option you do nothave to constantly refer to the separate business of the individual registered BAS Agent, thepartnership will be eligible for registration in its own right.1

3. Change the trustee to be a company similar to #2.

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Written reports by a third party

eports or other advice incorporating tax agent services provided by a third party

ax Practitioners Board Exposure Draft

ackground

1. This draft information sheet deals with the situation where an entity (the issuer), for a fee or otherreward, provides a report or other advice containing tax-related information:Without limiting thecircumstances where this situation might arise, an example of the types of circumstances where thismight occur is a due diligence report where tax-related information may be provided by a third party whois a registered tax or BAS agent and has been engaged, as such, to provide the tax-related informationto be included in the due diligence report.

that is provided by a third party;1

which relates to ascertaining or advising on liabilities, entitlements and obligations of an anotherentity (the client) as referred to in subparagraphs 90-5(1)(a)(i) and (ii) of the TASA; and

2. the circumstances are such that the client is reasonably likely to rely on the advice of the third party forthe purposes set out in subparagraphs 90-5(1)(b)(i) and (ii) of the TASA.

3. References in this information sheet to a tax agent service include a BAS service and references toprovisions in section 90-5 (which defines a tax agent service) include the similar provisions in section90-10 (which defines a BAS service) of the Tax Agents Services Act (TASA).

roposed Approach

1. The issuer of a report or other advice will not contravene section 50-5 (which provides for civil penaltiesfor the provision of tax agent services by unregistered entities) of the TASA in respect of the provision ofthe tax-related information if the arrangements between the client, the issuer and the tax or BAS agentare such that:

the obligations of the issuer are to procure the tax-related advice from a tax or BAS agent; and1

the tax or BAS agent will be responsible to the client in relation to that advice.1

2. The Board will take this approach where, under the arrangements surrounding the issue of the report orother advice:In these circumstances, the Board considers that the issuer of the report or other advicedoes not provide the tax agent service (as defined in section 90-5 the TASA) but merely arranges for theprovision of a tax agent service to be made by a properly authorised and qualified entity who isresponsible to the client for the tax agent service.

the information constituting a tax agent service is to be, and is in fact, provided by a separateentity;

the entity is a registered tax or BAS agent who is clearly identified in the report or other advice as

the provider of the tax agent service; the tax or BAS agent is responsible to the client for the accuracy of the information that

constitutes the tax agent service; and the information that constitutes the tax agent service is clearly identified within the report or other

advice.1

3. It will be a question of degree whether the issuer goes further to include other elements in the report thatmay constitute the provision of a tax agent service, in which case registration as a tax or BAS agent maybe required under the TASA.

What are your thoughts?

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PE Opportunities
http://www.icb.org.au/out/?dlid=18070http://www.icb.org.au/out/?dlid=18070http://www.icb.org.au/out/?dlid=18070


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ow to with MYOB's Next Generation AccountRight - NEW WORKSHOPS ADDED1

he material, presentation and workshops are being developed in conjunction with MYOB BUT are an ICBesentation in a very different style and purpose from the information sessions run by MYOB. These

orkships are how a bookkeeper will use the new software.

ow to work with MYOB's Next Generation AccountRight - NEW WORKSHOPS ADDED

risbane

elbourne

erth

ue to overwhelming demand we have added new session in the above locations.

hese workshops are filling fast with over 700 already registered. With a number of sessions already fullyubscribed, book now to avoid disappoinment.

YOB are releasing their 2011 version of AccountRight in November 2011 and you need to be aware of theajor changes. This is not your standard upgrade. There are fundamental changes in the way the programorks and you need to be aware on how to migrate from the current version to the new.

CB are running these workshops to educate Bookkeepers and consultants on the how to in the newlease. These are a bookkeepers workshop designed for Bookkeepers on the How To Use, How To Workthe product and most importantly, from the Bookkeepers point of view.

ou will work through:

How the NEW features will help you in your bookkeeping How to use the new report generator How to use the new customisation of forms

What are the issues in upgrading to the new version?

What to do before hand

Which operating system are compatiable How to install the software How to upgrade your existing files How to migrate your old forms to the new version

comprehensive manual (Over 180 pages) that has step-by-step instructions on how to work with the newlease will be provided to ensure you can take away all the information from the session.

Who should attend:l bookkeepers using MYOB software, before you upgrade. Includes Certified Consultants and businesses.

ach information sessions will run for 3 hours at the following locations

ost: Members $88.00 Non members $110.00


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paces are limited so book now to secure your seat NOW by clicking on the relevant link below.

Adelaide

November 8, 2011

.30am12.30pm - nearingapacityr

.30pm 4.30pm

Mecure Grosvenor25 North Terrace

South Adelaide

Canberra

November 9, 2011

9.30am12.30pmor1.30pm 4.30pm

Mantra on Northbourne84 Northbourne AvenueCanberra

Sydney

aunceston

November 15, 2011

.30am 12.30pm

SebelCnr St John & William St

aunceston

Melbourne - NEWSESSIONS

November 30, 2011

9.30am12.30pmor1.30pm 4.30pm

MYOB12 Wesley CourtBurwood

Perth - NEW SESSION

November 18, 2011

9.30am12.30pm

Novotel Langley221 Adelaide TerracePerth

Sunshine Coast

November 21, 2011

.30am 12.30pmr.30pm 4.30pm

Maroochydore RSLMemorial AvenueMaroochydore

Gold Coast

November 22, 2011

9.30am12.30pm - SOLDOUTor1.30pm 4.30pm

Prana Centre7027 Southport - Nerang RdNerang

Cairns

November 23, 2011

9.30am 12.30pm - nearingcapacity

Sebel Cairns17 Abbott StreetCairns

Darwin

November 24, 2011

.30am12.30pm

Novotel Atrium00 The Esplanade

Darwin

Brisbane - NEW SESSIONS

November 29, 2011

9.30am12.30pmor1.30pm - 4.30pm

Chermside Bowls Club486 Rode RoadChermside

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sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Darwinhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Cairnshttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Gold_Coast_-_pm_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Sunshine_Coast_-_pm_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Sunshine_Coast_-_am_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Perthhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Melbourne_30th_-_pm_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Melbourne_30th_-_am_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Launcestonhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Canberra_-_pm_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Canberra_-_am_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Adelaide_-_pm_sessionhttp://shop/Event/Working_with_MYOB's_Next_Generation_AccountRight_-_Adelaide_-_am_session


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CB Network Meetings

Question of the month??

ast month we asked:

n is allowance paid under an industrial instrument in connection with overtime worked meal allowances upa reasonable amount and over reasonable amount are they treated differently for Witholding tax and

ppearing on the Payment Summaries - How?

he answer:p to a reasonable amount No Withholding not on Payment Summaryver a reasonable allowance amount Tax withheld from the excess over reasonable allowances amounthow Total allowance on Payment Summary

his month question for you all to debate at your network meeting is:

client of mine processed a termination pay while I was away in July this year. She accidentally paid themployee for 2 weeks' work instead of one (the employee left mid pay cycle).

deleted the pay and reprocessed it correctly, resulting in a net amount of $587 repayment required from thex-employee.

ere we are in October and the employee has gone "missing" - ie. not returning calls, emails, texts and hasft their old address etc.

y question is, if payment is never recovered, can we process a pay (grossing it up to include PAYGtholding), or is the client legally required to treat this payment as a debt waiver fringe benefit?

nd if it can be processed through payroll, is Employer SGC applicable? I would have thought not as it isn'tTE, but if it isn't OTE, what is it?

What would you do??

You can also let us know your response on the ICB forum

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http://www.icb.org.au/forum/Thread.aspx?type=&cid=0&tid=82794&lp=74586&page=1&sort=http://www.icb.org.au/forum/Thread.aspx?type=&cid=0&tid=82794&lp=74586&page=1&sort=http://www.icb.org.au/forum/Thread.aspx?type=&cid=0&tid=82967&lp=75568&page=1&sort=http://www.icb.org.au/forum/Thread.aspx?type=&cid=0&tid=82967&lp=75568&page=1&sort=http://www.icb.org.au/forum/Thread.aspx?type=&cid=0&tid=82794&lp=74586&page=1&sort=


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pcoming Network Meetings

Queensland

Cooroy

rd November, 2011

Cairns

2nd December, 2011

Brisbane South

14th November, 2011Gold Coast (am & pm sessions)

th November, 2011Brisbane North8th November, 2011

Townsville11th November, 2011

undaberg1st October, 2011

Sunshing Coast3rd November, 2011

ictoria Tasmania

urwoodnd November, 2011

Hobart24th November, 2011

New South Wales

Wollongongth December, 2011

Central Coast9th November, 2011

Newport24th November, 2011

rookvaleth November, 2011

Shoalhaven12th December, 2011

Ballina2nd December, 2011

almain8th November, 2011

Western Australia ACT

Melvilleth November, 2011

Balcatta7th November, 2011

Philip8th November, 2011

outh Australianleyth December, 2011

Our Network meetings are growing thanks to the great support of our facilitators, members and ofourse MYOB. In August we had over 420 Bookkeepers join the meetings to discuss topics such as

Making payments out of Clients bank accounts - the process, the authority and the risks

The little petals from Irene Smith'sSeptember Cooroy meeting
http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network_meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/http://network%20meetings/


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hese meeting are conducted in a relaxed and informal environment to promote discussion amongsthose attending the meetings. Below is feedback received from one of our members on their localmeeting.

No meeting in your area?

We are always on the lookout for facilitators to run meetings in their local area so if you are interestedlease contact Rick Van Dyk [email protected]

CB Network Meetings are proudly supported by MYOB

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ther things happening in the world

igital Certificates will die

wap to an AUSkey now

rom the ATO

egister for an AUSkey now

he ATO will soon no longer accept ATO digital certificates for login to the ATO portals and using theectronic commerce interface. If you are still using an ATO digital certificate to access the ATO's businessnline services, you must register for an AUSkey now.

ow to register for an AUSkey:

1. Go to the computer on which your ATO digital certificate is installed1

2. Visitwww.abr.gov.au/auskeyand select Register1

3.

Select Yes to use your ATO digital certificate to register for an AUSkey.

rovided your ATO digital certificate has not expired, your new AUSkey will automatically have the sameermissions assigned to it as your ATO digital certificate. If your ATO digital certificate has expired, you willeed to re-establish your permissions in Online Access Manager in the portals before you can use it to lodgectivity statements.

ull details available atwww.ato.gov.au/upgradetoauskey

ore information:

TO online serviceswww.ato.gov.au/onlineservices

USkeywww.abr.gov.au/auskey

tandard Business Reportingwww.sbr.gov.au
mailto:[email protected]:[email protected]://www.abr.gov.au/auskeyhttp://www.abr.gov.au/auskeyhttp://www.abr.gov.au/auskeyhttp://www.ato.gov.au/upgradetoauskeyhttp://www.ato.gov.au/upgradetoauskeyhttp://www.ato.gov.au/onlineserviceshttp://www.ato.gov.au/onlineserviceshttp://www.abr.gov.au/auskeyhttp://www.abr.gov.au/auskeyhttp://www.sbr.gov.au/http://www.sbr.gov.au/http://www.sbr.gov.au/http://www.abr.gov.au/auskeyhttp://www.ato.gov.au/onlineserviceshttp://www.ato.gov.au/upgradetoauskeyhttp://www.abr.gov.au/auskeymailto:[email protected]


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eckon changes server

mportant: QuickBooks Hosted Standard Service Platform transition

NB: If you and your clients no longer use the original QuickBooks Hosted Standard Service Platform please

sregard this email.)

rom approximately 12:00pm AEST on Monday, 19 September 2011, you and your clients will no longer beble to log in to the original server platform used for the QuickBooks Hosted Standard Service.

is important that you move all users on your account and clients to the improved server platform beforeen to enable a smooth transition.

When using the improved platform you and your clients will benefit from:

automatic reconnection if your internet connection is lost improved load balancing to assist with faster processing

o prepare PCs for the improved platform, you will need to complete the enhanced compatibility check. Anstruction guide and videos are available from Reckon Online.

We are confident that you and your clients will find the improved Windows Server platform provides auperior QuickBooks Hosted experience.

ote that this advice applies only for users of the QuickBooks Hosted Standard Service. No changes areeing made to the QuickBooks Hosted Premium Service platform.

hould you have any technical queries, the PSG Support Team can be contacted on 1300 650 081 [email protected] any other enquiries, please call 1300 653 449 or [email protected]

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Fair Work allows 90 minutes shifts

0 minute after-school shifts for secondary students. The variation applies from 1 October 2011.

casual employee can now be employed for a minimum 90 minute shift if all of the following applies:

the employee is a full time high-school student the work occurs between 3.00pm and 6.30pm on a normal school day the employee and their parent or guardian agrees to the shorter period of work working for 3 hours or more isnt possible because the employer cant offer a longer shift or because

the employee is unavailable

the above does not apply, casual retail employees must still be given at least three hours work per shift.

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mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]


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Fair Work: Use of individual flexibility arrangements

exible work practices can deliver benefits to both employers and employees. Individual flexibilityrangements can lead to greater job satisfaction and help attract and retain skilled and valuable staff.exibility in the workplace can also improve workplace productivity and efficiency by helping maintain aotivated workforce with reduced staff turnover and absenteeism.

his Best Practice Guide explains how employees and employers can use Individual flexibility arrangementsFAs) to create flexible work practices that enhance productivity and job satisfaction.

particular, the guide explains:

flexibility terms in enterprise agreements and modern awards under which IFAs can be made the effect of an IFA how to make an IFA what can be included in an IFA

what happens if an IFA is not made properly, and how an IFA ends

What can be included in an IFA?

What can be included in an IFA depends upon whether it is being made to vary a modern award or annterprise agreement. Modern awards and enterprise agreements are required to contain flexibility termshich specify provisions that can be varied by an IFA such as hours of work. Modern award flexibility terms.

exibility terms within modern awards will only allow IFAs to vary:

arrangements for when work is performed such as working hours overtime rates penalty rates allowances, and leave loading

As cannot include unlawful terms. These are:

discriminatory terms (terms which discriminate against an employee on certain grounds) objectionable terms (terms which contravene the general protections provisions of the FW Act or

require the payment of a bargaining services fee) terms that give an employee an entitlement or remedy in relation to unfair dismissal before they have

completed the minimum employment period terms that exclude or modify the application of unfair dismissal provisions of the FW Act in a way that

is detrimental to a person certain terms that provide right of entry entitlements certain terms that provide for the exercise of state or territory occupational health and safety (OH&S)

rights, and terms inconsistent with the industrial action provisions under the FW Act

o I have to agree to an IFA?

n employee or employer cannot be forced to enter into an IFA and a person cannot be treated adversely orscriminated against for refusing to agree to an IFA.


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hecklist for best practice on using an IFA

mployers who are working at best practice will:

check the range of permitted matters that an IFA can vary under the enabling flexibility term in therelevant enterprise agreement or modern award

identify opportunities in the organisation where an individual flexibility arrangement could benefit theemployee and employer

have a process for consultation that allows employees to identify appropriate flexible work practices intheir interests

support employees to balance their work and personal lives. IFAs may be useful in achieving this ensure that IFAs are used to reflect the genuine needs of the particular situation of the employee and

employer ensure the IFA does not disadvantage an employee and leaves the employee covered by it better off

overall ensure the IFA for an enterprise agreement does not include any unlawful terms ensure employees are not unduly influenced or pressured to agree to an IFA. Employees should be

given reasonable time to consider a proposed IFA and opportunity to raise issues with their employerand vice-versa

allow employees to be represented if they wish when negotiating an IFA with their employer

be open to approaches from employees about making IFAs give genuine consideration to an employees requests for an IFA.

he full Best Practice Guide - Use of flexibility arrangements can be downloaded here.

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Fair Work: Employers guide to young workers

ooking for your first job or a new job? This can be an exciting time. To help ensure you get a proper dealhen you start your job, it is important to find out about your rights and entitlements and what responsibilitiesou may have in the workplace.

his Best Practice Guide explains:

things you need to know about your employment conditions things you need to know before you start work things you need to know when you start work what protections you have against harassment and discrimination union membership, and the importance of workplace health and safety

here is also a checklist and some helpful hints at the end of this guide.

his guide illustrates what best practice is when it comes to getting your first job.

What are my employment conditions?

When you accept a job you will agree to work for your employer under certain terms and conditions.

enerally, those terms and conditions will be set out verbally, in a letter of offer, a registered agreement orstrument (such as an enterprise agreement) and/or an award.
http://www.icb.org.au/out/?dlid=18076http://www.icb.org.au/out/?dlid=18076http://www.icb.org.au/out/?dlid=18076


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While there are a number of documents that can set out the terms and conditions of your employment, mostthem are likely to be set out in an award or instrument that applies to you. Contact the Fair Work Infoline

n 13 13 94 for information on what award or instrument applies to you.

enerally you will be employed either on a casual, permanent part-time or full-time basis.

ou should remember that:

if your employment is subject to an award or an enterprise agreement, you should ask your employerfor confirmation as to which award or agreement applies to you (and if possible obtain a copy)

from 1 January 2010, if you are a new employee you must be provided with an information statementconcerning the terms and conditions of employment (the Fair Work Information Statement)

it is unlawful for you to be forced into signing any agreement.

hecklist for young workers and helpful hints

though exciting, starting your first job or going into a new industry can also be a challenge, so it is importants a young worker to understand:

what your rights and entitlements are on issues about your conditions of employment, rates of pay,

working hours, breaks and public holidays what information you should have before you accept a job the things you should expect from your employer in terms of the workplace environment (for example,

a workplace free from unlawful discrimination and harassment) your obligations in the workplace as to health and safety and also your employers obligations your right to join, or not join, a union what happens when you are leaving a job

elpful hints

keep a diary of days and hours worked keep copies or records of your employment details, pay slips, your agreement or award and your

superannuation and tax documents ask your employer questions if you are unsure take up any offers or opportunities for additional training or education within the workplace remember there are always Government contacts that can help you if you get stuck

he full copy of Best Practice Guide - A guide for young workers is available here.

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rom the ICB

his month...

NEW Member Benefit - ICBenefits
http://www.icb.org.au/out/?dlid=18077http://www.icb.org.au/out/?dlid=18077http://www.icb.org.au/out/?dlid=18077http://www.icb.org.au/out/?dlid=18077


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CB is proud to introduce to you the new ICBenefits Program.

What is it?

iscounts

he ability to purchase vouchers for less than the face value.

Buy vouchers online at a discount to face value, eg: purchase a

$100.00 Coles voucher for $95.00, or buy a product online andreceiving cash back into your bank account.

The ICBenefits Program is a member only benefit program usingreward gateway to provide you with discounts on over 350 retailersnationwide.

hop online via ICBenefits and save 5-25% on any purchase made!

etailers include Coles, Woolworths, StrawberryNet, Dan Murphys, Expedia, Budget and much more.

ow?

ASHBACK:aking a purchase online through ICBenefits can mean that you see money coming BACK to your bankccount! Make a purchase online and receive a % back of the total purchase made. For example need tore a car? Make the booking online via the ICBenefits website and receive 10% cashback. The cashback

an either be sent directly to your bank account OR be kept in your online account. Keeping it in your onlineccount means that you can use it for purchases at a later date.

OUCHER SHOP:

ift cards are a great idea for not only gifts but also using everyday. In the voucher shop, you have thepportunity to buy vouchers or gift cards to a number of different stores for a discounted rate. For example:eed an idea for school holidays? Take the kids bowling. Buy an AMF/King Bowling voucher for $100.00 butet it for $90.00! Its that easy once you purchase the voucher dispatch is made the same day. You canxpect the voucher in the mail within the next 2-4 working days.

Why?reward program that ICB can now provide due to our strength, our international strength and our growth.

We see this as helping you with daily living costs,

just for being a member with us. While ICBprovides members with bookkeeping resources,bookkeeping support and bookkeeping credibility,we want to reward you, as YOU, for choosing US.

The ICBenefits Program may benefit your lifestyleas well as your business so, we couldnt resist.

ow does it work?

CBenefits Program is a separate website fromwww.icb.org.au. As you know, the biggest identifier for us is

our unique ICB membership number. This is the only piece of information you need to register. Want to usedifferent email address to the one that is on file with ICB? Not a problem at all. All you need to do is go toww.icbenefits.com.auand click Register Now. All you will need is your ICB member. For a full guide ongistering click here. Once you have registered, happy shopping!
http://www.icb.org.au/http://www.icb.org.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icb.org.au/


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When?

ow!

Just go towww.icbenefits.com.au(or click on the image to the left) and use your ICBmember number to register.

If you have any questions at all regarding the program, in the first instance contact therewards program provider on 1300 900 186 or on thewww.icbenefits.com.auwebsite.

Otherwise please contact ICB [email protected] 1300 85 61 81

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esource of the month - Business Information

Need to find out a little more about PPSR (like,

what is it??) or even GovReports? Could besomething to do with FBT at Christmas or even acharge rate calculator. You will find it all here andmore

On the Business Information page you will find:

A business plan how to Charge rate calculator PPSR Setting up in business Links to ASIC, ABR and more A Marketing Plan template Consumer rights to a refund and so much more

o have a look, we are sure you will find at least 1,000,000 things you could use, you can access theICBusiness Information page here

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lient Newsletter - eBrief - October 2011

ookkeeping eBRIEF is a client newsletter - Bookkeeping eBRIEF is provided by ICB for members to enableou to quickly add your logo and information and provide it to your clients on a monthly basis.

eeping you and your business infront of your client and well regarded and respected.

Click the button to subscribe now and each month you will receive the BookkeepingeBRIEF directly to your inbox
http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/mailto:[email protected]:[email protected]:[email protected]://www.icb.org.au/ICB_Resources/Business_Informationhttp://www.icb.org.au/ICB_Resources/Business_Informationhttp://www.icb.org.au/ICB_Resources/Business_Informationhttp://www.icb.org.au/ICB_Resources/Business_Informationhttp://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icbenefits.com.au/http://www.icb.org.au/ICB_Resources/Business_Informationhttp://www.icb.org.au/ICB_Resources/Business_Informationmailto:[email protected]://www.icbenefits.com.au/http://www.icbenefits.com.au/


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n this months Bookkeeping eBRIEF, the newsletter for YOUR clients, you will find some informative articlesor your clients.

What are the implications of not having a Disaster Plan - help your clients develop one.

Cloud computing - it is all the rage, but is it the new black!!

Well......we are providing the Bookkeeping eBRIEF newsletter to help you help your clients.

Download you October 2011 eBrief issue here

Back copies are available here

Templated client information newsletters are not a new concept but are certainly anew concept in bookkeeper space. ICB launched this service to members in Augustand it is interesting, but good, to note others launching a similar service this month.

ICB members being "The best bookkeepers using the best resources".

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Apologies for our phones

oor Jan and Carmel have been tearing their hair out as our internet provided phone system had a majorelt down during the week ended 30 September.

ur apologies to all members and others who rang during this time just to have their phone call interrupted orop out.

the 5 years of using a VOIP system this is the first week of problem. The related ISP providing the internetas finally found the problem and it should be fixed by the time you read this. If it happens again then we willll you who they are.

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http://www.icb.org.au/out/?dlid=17671http://www.icb.org.au/out/?dlid=17671http://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/out/?dlid=17671


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CB Member Guide and The BAS Agent Definitive Guide Edition 3

l Affiliate, Associate, Member and Fellows should now have receive their books in the mail and theedback we are receiving is, well, fantastic.

you are a full member (Affilaite, Associate, Member or Fellow) and do not have your copy as yet, please lets know and we will have them mailed out to you immediately.

l new members and Students who upgrade will receive copies with their membership packs.

or those wanting to a PDF copy you can download theICB Member Guide 2011/12here and theBAS Agentefinitive Guidehere

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atest News

CB's how to work with MYOB - NEW WORKSHOPS ADDED

enewing your BAS Agent registration

he "P" in the Cert IV courses

APS - 2 days of essential payroll education!

embers reaction to BAS Agent renewal process

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What's new this month

ookkeeping eBRIEF, October 2011 -Link

he "P" in the Certificate IV courses -Link

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http://www.icb.org.au/out/?dlid=16774%20http://www.icb.org.au/out/?dlid=16774%20http://www.icb.org.au/out/?dlid=16774%20http://www.icb.org.au/out/?dlid=18108http://www.icb.org.au/out/?dlid=18108http://www.icb.org.au/out/?dlid=18108http://www.icb.org.au/out/?dlid=18108http://www.icb.org.au/News/1415http://www.icb.org.au/News/1401http://www.icb.org.au/News/1399http://www.icb.org.au/News/1400http://www.icb.org.au/News/1398http://www.icb.org.au/News/1398http://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/News/1399http://www.icb.org.au/News/1399http://www.icb.org.au/News/1399http://www.icb.org.au/News/1399http://www.icb.org.au/Members_Area/eBRIEF_Newslettershttp://www.icb.org.au/News/1398http://www.icb.org.au/News/1400http://www.icb.org.au/News/1399http://www.icb.org.au/News/1401http://www.icb.org.au/News/1415http://www.icb.org.au/out/?dlid=18108http://www.icb.org.au/out/?dlid=18108http://www.icb.org.au/out/?dlid=16774%20


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CB Forum News

pdates from the ICB Bookkeeper forum this busy, busy month.

What a busy month on the ICB forum it has been. With 348 active participants on the forum we have receivedome very interesting posts this month, they include:

Family trusts trading as companies Overseas purchases and the recording of import costs Paying commission Where to post personal expenses in a business account and many, many more

atthew is on hand to answer a lot of the 'trickier' queries and we have some very supportive members whoe also there to lend a hand and help with your questions.

he Latest Updates lists all the topics in order of the replies.

you have not checked out the forum yet, grab a coffee (or a tea, or a wine) and sit down and have a look -ck on the link below.

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CB Statistics

WHAT AN AWESOME NUMBER!!

1,561 Members maintain Fellow, Member, Associate and Affiliatemembership, ICB has 1,397 Student Members and 63Subscriber Members.

ICB currently has 7 application to be approved by theAdmissions Board and a further 46 application in process

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CB Links

Apply for ICB Membership here Renew your ICB Membership here BAS Agent updates and information Other Newsletters

o The BAS Agento Workforce Education Newso The Association of Payroll Specialists (TAPS)o Calxa

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http://www.icb.org.au/forum/Thread.aspx?type=&cid=5139&tid=0&lp=75620&page=1&sort=http://www.icb.org.au/forum/Thread.aspx?type=&cid=5139&tid=0&lp=75620&page=1&sort=http://www.icb.org.au/Membershiphttp://www.icb.org.au/Membershiphttp://www.icb.org.au/Shop/Category/Membershiphttp://www.icb.org.au/Shop/Category/Membershiphttp://www.icb.org.au/BAS_Agenthttp://www.icb.org.au/BAS_Agenthttp://www.icb.org.au/Newslettershttp://www.icb.org.au/Newslettershttp://www.icb.org.au/Newsletters/BAS%20Service%20Provider%20Newslettershttp://www.icb.org.au/Newsletters/BAS%20Service%20Provider%20Newslettershttp://www.icb.org.au/Newsletters/Workforce%20Education%20Newshttp://www.icb.org.au/Newsletters/Workforce%20Education%20Newshttp://www.icb.org.au/Newsletters/The%20Association%20of%20Payroll%20Specialists%20(TAPS)http://www.icb.org.au/Newsletters/The%20Association%20of%20Payroll%20Specialists%20(TAPS)http://www.icb.org.au/Newsletters/Calxa%20Newslettershttp://www.icb.org.au/Newsletters/Calxa%20Newslettershttp://www.icb.org.au/forum/Thread.aspxhttp://www.icb.org.au/forum/Thread.aspxhttp://www.icb.org.au/Newsletters/Calxa%20Newslettershttp://www.icb.org.au/Newsletters/The%20Association%20of%20Payroll%20Specialists%20(TAPS)http://www.icb.org.au/Newsletters/Workforce%20Education%20Newshttp://www.icb.org.au/Newsletters/BAS%20Service%20Provider%20Newslettershttp://www.icb.org.au/Newslettershttp://www.icb.org.au/BAS_Agenthttp://www.icb.org.au/Shop/Category/Membershiphttp://www.icb.org.au/Membershiphttp://www.icb.org.au/forum/Thread.aspx?type=&cid=5139&tid=0&lp=75620&page=1&sort=


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CB Supporters and Sponsors

surance Made Easy providers of Professional Indemnity Insurance for bookkeepers and BAS Agents

YOB has sponsored the ICB Network meetings as a direct support of the need for members of the ICB andher bookkeepers to get together for development and networking. MYOBhas engaged ICB to provide thessessment knowledge and expertise behind the MYOB Approved Bookkeeper program

eckonhas joined ICB as a major sponsor to assist in providing Bookkeepers with solutions and benefits foreir business and clients.

CB Global continues to support ICB Australia through the provision of web resources, databasefrastructure, bookkeeping resources, information and IT support.

engage Education supports ICB in the dissemination of quality information about the educationnvironment including information of Cert IV providers and total education programs.

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roducts and Solutions

entor Me

CB, with the support of The Numbers Game, are pleased to provide a solution to those members who haveeen seeking that extra piece of assistance with developing their business.

entoring with a focus, emphasis and perspective of and for bookkeepers.

he mentors who have over 40 years of industry experience between them will work with you on how tomprove areas within your business such as:

> Productive systems

> Marketing

> How to manage business growth

> Goal setting

> Customer service

>Use of technology

his is not an "out of the box" mentor program designed by marketers, but a program designed by leadingdge bookkeepers, people who have been working in the industry who understand the industry and knowhat it means to be a bookkeeper.


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he program starts by completing a survey about your business, your challenges along with your goals andain points. The survey provides valuable information and with the initial consultation will allow you and theentor to develop the program tailored to your specific needs.

entor Me (one on one)

designed where the mentor works with you in 3 month blocks and a session frequency of your choosing. Ate end of each 3-month period you and the mentor decide if further 3 month blocks are required.

YOU choose an initial 3 months of either weekly, fortnightly or month service forour mentoring calls.

ach session lasts up to 45 minutes

YOU choose the areas for discussion and assistance to ensure that it is relevanto you and your business

YOU receive regular achievale action plans

YOUR mentors will work with you to review actions since the last contact and set new goals forhe coming period

YOUR mentors will help you get the results you want because they have a combined 40 years ofractical industry and small business knowledge and experience.

Sessionsper month

Costs per month(direct debited monthly)

Mentor MeMonthly 1 $119.00

Mentor MeFortnightly 2 $219.00

Mentor MeWeekly 4 $319.00

nitial consultation fee of $220.00Minimum contract term - 3 months

o begin the journey -click here to purchase your initial consultation.

ou will then be sent a survey and a mentor will contact you to schedule your consultations.

estimonial:

They have taken my business to that hard to attain next level. The relationship we have developed isnique. I bow to their superior knowledge and trust their advice completely.

ene Smith, CQ Bookkeeping, Cooroy

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rom the ATO

est bookkeeping for the right tax deductions

uide to claiming deductions

When completing your tax return, you are entitled to claim deductions for some expenses that are directly
http://www.icb.org.au/Shop/Category/ICB/TNG_Mentoring_Programhttp://www.icb.org.au/Shop/Category/ICB/TNG_Mentoring_Programhttp://www.icb.org.au/Shop/Category/ICB/TNG_Mentoring_Programhttp://www.icb.org.au/Shop/Category/ICB/TNG_Mentoring_Program


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lated to earning your income. However, you cannot claim the cost of normal domestic and privatexpenses.

tp://ato.gov.au/content/00288728.htm

ublished: 26 Sep 2011

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elp for small businesses experiencing short-term financial difficulties1

We understand that small businesses can experience short-term financial difficulties due to challengingusiness conditions or unexpected events such as natural disasters. The ATO offers help to viableusinesses having trouble meeting their tax payment obligations due to such short-term difficulties.

his help includes:

flexible payment arrangements that align with cash flow remission of general interest charge (GIC) where appropriate

IC-free payment arrangements for activity statement debts

some cases we offer payment arrangements for activity statement debts free of GIC for up to 12 months.hese arrangements are aimed at helping small businesses that have a good history of meeting their taxdgment and payment obligations but are experiencing short-term financial difficulties.

Who is eligible?

ou may be eligible for a GIC-free payment arrangement if your business:

has an annual turnover of less than $2 million

has a recent activity statement debt of $50,000 or less, which has been outstanding for no longer than12 months

has a good payment and lodgment compliance history, includingis unable to obtain short-term financethrough normal business channels

o no more than one payment arrangement default within the last 12 months o no outstanding activity statement lodgments

is able to demonstrateongoing viability, and agrees to a sustainable direct debit payment arrangement that will allow the debt to be paid within 12

months

ow does it work?

ou will not have to pay GIC on your activity statement debt for a maximum of 12 months from the day onhich you enter into the arrangement with us.

he actual GIC-free period

starts on the day you make the agreement with us finishes on the day your final instalment is due

you default on the arrangement the GIC-free period will end on the date of default.

ou must meet all of your ongoing tax payment and lodgment obligations.
http://ato.gov.au/content/00288728.htmhttp://www.ato.gov.au/corporate/content.aspx?menuid=0&doc=/content/00224959.htm&page=5&H5http://www.ato.gov.au/corporate/content.aspx?menuid=0&doc=/content/00224959.htm&page=5&H5http://www.ato.gov.au/corporate/content.aspx?menuid=0&doc=/content/00224959.htm&page=5&H5http://www.ato.gov.au/corporate/content.aspx?menuid=0&doc=/content/00224959.htm&page=5&H5http://ato.gov.au/content/00288728.htm


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ow do you apply?

o apply, phone us on 13 11 42 between 8.00am and 6.00pm, Monday to Friday.

you are a registered user, you can contact us via theBusiness Portal.

ax agents can contact us using theTax Agent Portal.

ou can also submit a question via theDebt payment email enquiry.

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apital gains tax update 2011-12 income year

pdate on the capital gains tax developments during the 2011-12 income year. Current as at 31 July 2011.

tp://ato.gov.au/content/00289737.htm

ublished: 21 Oct 2011

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ease note that, in between newsletter issues, articles may be published straight to the Latest Newssectionthe website. Please check the headlines which can be found in the top right of the website homepage, to

nsure you stay up-to-date.

he Institute of Certified Bookkeepers complies with the Spam Act 2003 and we have a documentedSpamolicy on our website. You can unsubscribe from ICB newsletters and updateshere.

CB's Newslettercontains news articles, links and regular sections that we feel will be of interest. If there is

nything that you would like to see, whether a regular feature or a one-off, please let us know. Email youreas [email protected]

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he monthly Newsletter for members of the Institute of Certified Bookkeepers.

selection of those articles listed are accessible by ICB Members ONLY - ICB Members, you will need to begged onto the ICB website to view all the articles in full.

he newsletter of ICB is designed as information and resources for Bookkeepers with clients and alsoookkeepers in employment.

he content of the newsletter maybe relevant in part or in whole to other publications or other purposes.

he ICB withholds all rights of all content that is restricted to member access only and that informationcluded in the member newsletter. Member only information is not to be reproduced without specific consentom ICB.

he ICB permits reproduction of ICB articles and material contained in the non-members newsletter andvailable publicly on the website on the proviso that acknowledgement of ICB is specifically provided

cluding links to the ICB website and original article. eg "This information has been obtained from thestitute of Certified Bookkeepers fromwww.icb.org.au"
http://www.ato.gov.au/businesses/pathway.asp?pc=001/010/003http://www.ato.gov.au/businesses/pathway.asp?pc=001/010/003http://www.ato.gov.au/businesses/pathway.asp?pc=001/010/003http://www.ato.gov.au/taxprofessionals/pathway.asp?pc=001/005/044http://www.ato.gov.au/taxprofessionals/pathway.asp?pc=001/005/044http://www.ato.gov.au/taxprofessionals/pathway.asp?pc=001/005/044http://www.ato.gov.au/content.asp?doc=/content/debtpayment_emailenquiry.htmhttp://www.ato.gov.au/content.asp?doc=/content/debtpayment_emailenquiry.htmhttp://www.ato.gov.au/content.asp?doc=/content/debtpayment_emailenquiry.htmhttp://ato.gov.au/content/00289737.htmhttp://www.icb.org.au/The_ICB_Spam_Policyhttp://www.icb.org.au/The_ICB_Spam_Policyhttp://www.icb.org.au/The_ICB_Spam_Policymailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.icb.org.au/http://www.icb.org.au/http://www.icb.org.au/http://www.icb.org.au/mailto:[email protected]:[email protected]://www.icb.org.au/The_ICB_Spam_Policyhttp://www.icb.org.au/The_ICB_Spam_Policyhttp://ato.gov.au/content/00289737.htmhttp://www.ato.gov.au/content.asp?doc=/content/debtpayment_emailenquiry.htmhttp://www.ato.gov.au/taxprofessionals/pathway.asp?pc=001/005/044http://www.ato.gov.au/businesses/pathway.asp?pc=001/010/003


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nd regards,

CB Newsletter Team

stitute of Certified Bookkeepers

1300 85 61 811300 85 73 93

[email protected]

evel 27alto South Tower

25 Collins Street

elbourne 3000

sclaimer:e content of this e-mail (including any attachments) as received may not be the same as sent. If you consider that the content is material to the formation or performance ofontract or you are otherwise relying upon its accuracy, you should consider requesting a copy be sent by normal mail. The information in this e-mail is confidential and maylegally privileged. If you are not the intended recipient, please notify the sender immediately and then delete this e -mail entirely - you must not retain, copy, distribute or uses e-mail for any purpose or disclose any of its content to others. Opinions, conclusions and other information in this e-mail that do not relate to the official business of

Institute of Certified Bookkeepers shall be understood as neither given nor endorsed by it.
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October 2011 Members Newsletter

Documents

Transcript of October 2011 Members Newsletter