<?xml version="1.0" encoding="UTF-8"?>
<root>
  <posts>
    <post_id>9</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Clean Books and Borrowing]]></post_title>
    <post_content_short><![CDATA[You will see advertising to business that says you can get a business loan without financial documentation. These "low doc" or
"no doc" loans may use recent bank statements and other easily available information to quickly process the application. But
getting a loan with full financials (including financials for the current year) is generally better than a low doc loan because it often
offers lower interest rates , higher borrowing capacity and better loan terms. While low doc loans provide speed and flexibility for
business they are considered higher risk by lenders reflected in higher fees and borrowing capacity.]]></post_content_short>
    <post_icon>https://www.penrithbookkeeping.com.au/media/website_posts/9/Screenshot-2026-04-28-091700.jpg</post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/clean-books-and-borrowing/</post_content_url>
    <post_date>2026-04-27 23:13:14</post_date>
  </posts>
  <posts>
    <post_id>8</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Getting ready before Tax Time]]></post_title>
    <post_content_short><![CDATA[If your books are reconciled and clean then your tax accountant can review them BEFORE 30 June and then tailor a response to give you the best tax outcome. By May, a business will have a fair idea what their profit or loss will look like by 30 June. There are quite a few
tax strategies your tax accountant can advise on with some of them requiring action before 30 June. For example any additional
Superannuation that is paid needs to be received by the Superannuation fund before 30 June. If we can help get your financials in order to give your Tax Accountant greater clarity then contact us.]]></post_content_short>
    <post_icon>https://www.penrithbookkeeping.com.au/media/website_posts/8/Screenshot-2026-04-25-203624.jpg</post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/getting-ready-before-tax-time/</post_content_url>
    <post_date>2026-04-25 10:45:55</post_date>
  </posts>
  <posts>
    <post_id>7</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Instant Asset Writedown]]></post_title>
    <post_content_short><![CDATA[Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or
installed ready for use up to $20,000. As the instant asset write off expires this financial year, if you’re planning to buy business office
equipment, tools or even vehicle upgrades, make sure they’re purchased and installed before the 30 June 2026 deadline. <br />
<br />
<strong>ATO Link</strong><br />
<a href="https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/depreciation-and-capital-expenses-and-allowances/simpler-depreciation-for-small-business/instant-asset-write-off?utm_source=nswgovt_business&utm_medium=email&utm_campaign=2026-04-22_sfmc_1945_april_business_multi&utm_content=01_instand_asset_write_off_aa&utm_term=instant_asset_write_off_link&j=687710&sfmc_sub=233373404&l=88_HTML&u=70765489&mid=524007053&jb=28006#ato-Eligibility">https://www.ato.gov.au/businesses-and-organisations/income-deductions-and-concessions/depreciation-and-capital-expenses-and-allowances/simpler-depreciation-for-small-business/instant-asset-write-off?utm_source=nswgovt_business&utm_medium=email&utm_campaign=2026-04-22_sfmc_1945_april_business_multi&utm_content=01_instand_asset_write_off_aa&utm_term=instant_asset_write_off_link&j=687710&sfmc_sub=233373404&l=88_HTML&u=70765489&mid=524007053&jb=28006#ato-Eligibility</a>]]></post_content_short>
    <post_icon>https://www.penrithbookkeeping.com.au/media/website_posts/7/Screenshot-2026-04-25-203127.jpg</post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/instant-asset-writedown/</post_content_url>
    <post_date>2026-04-25 10:29:52</post_date>
  </posts>
  <posts>
    <post_id>6</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Countdown to Payday Super]]></post_title>
    <post_content_short><![CDATA[Up until now Superannuation for employees  for most small business could be paid quarterly. The new law introducing Payday Super comes into effect on 1 July 2026. It means Superannuation needs to be paid when payroll is processed. So for a small business with a weekly pay
this means 52 payments of Superannuation compared to just four quarterly payments This may create Cashflow Challenges and processes will need to be amended to ensure that the payment is processed easily. If the payment does not go through in time there may be penalties. For a simple overview here is an ATO video link <a href="https://tv.ato.gov.au/media/c-bd9wqof/bi9or7or3x5bw8">https://tv.ato.gov.au/media/c-bd9wqof/bi9or7or3x5bw8</a>]]></post_content_short>
    <post_icon>https://www.penrithbookkeeping.com.au/media/website_posts/6/Screenshot-2026-04-25-185753.jpg</post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/countdown-to-payday-super/</post_content_url>
    <post_date>2026-04-25 08:34:13</post_date>
  </posts>
  <posts>
    <post_id>5</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[What is included in Super after 1 July 2026]]></post_title>
    <post_content_short><![CDATA[Superannuation at 12% is calculated on some, but not all Salaries and Wages. What is included is being expanded on 1 July 2026.
Currently the payroll items that are included in the calculation of Superannuation are called "Ordinary Times Earnings". The new definition after 1 July 2026 is called "Qualifying Earnings" and includes "Ordinary Times Earnings" plus some
additional payroll items (previously excluded) particularly around certain commissions and Salary Sacrifice earnings. The ATO have
supplied a table comparing the two definitions showing the difference on their website  <a href="https://www.ato.gov.au/businesses-and-organisations/super-for-employers/payday-super/payday-super-resources/explaining-qualifying-earnings#ato-Whatarequalifyingearnings">https://www.ato.gov.au/businesses-and-organisations/super-for-employers/payday-super/payday-super-resources/explaining-qualifying-earnings#ato-Whatarequalifyingearnings</a>]]></post_content_short>
    <post_icon>https://www.penrithbookkeeping.com.au/media/website_posts/5/Screenshot-2026-04-25-164009.jpg</post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/what-is-included-in-super-after-1-july-2026/</post_content_url>
    <post_date>2026-04-25 06:42:04</post_date>
  </posts>
  <posts>
    <post_id>4</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Superannuation Payable by end of June]]></post_title>
    <post_content_short><![CDATA[Superannuation - Claiming the Tax Deduction<br />
<br />
An employer , if intending to claim a tax deduction for Super payments , be aware that these payments are considered to be paid (and
therefore tax deductible in the current year) once they have been processed and received by the employee's Super funds  An employer meets its Superannuation Guarantee obligations when the Super is paid by 28 July 2025.]]></post_content_short>
    <post_icon></post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/superannuation-payable-by-end-of-june/</post_content_url>
    <post_date>2025-06-03 09:38:43</post_date>
  </posts>
  <posts>
    <post_id>3</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Interest on ATO Debt will not be tax deductible]]></post_title>
    <post_content_short><![CDATA[The Government has announced that GIC (interest on ATO debt) which is currently 11.17% will no longer be tax deductible from 1 July 2025 which means the true cost to the business is even higher. The ATO historically might have cancelled the interest upon request but
now because of the high levels of ATO debt they are becoming less likely to do so.  <a href="https://www.ato.gov.au/about-ato/new-legislation/in-detail/businesses/deny-deductions-for-ato-interest-charges">https://www.ato.gov.au/about-ato/new-legislation/in-detail/businesses/deny-deductions-for-ato-interest-charges</a>]]></post_content_short>
    <post_icon></post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/interest-on-ato-debt-will-not-be-tax-deductible/</post_content_url>
    <post_date>2025-05-13 05:00:19</post_date>
  </posts>
  <posts>
    <post_id>1</post_id>
    <post_category_id>2</post_category_id>
    <post_title><![CDATA[Director ID]]></post_title>
    <post_content_short><![CDATA[All estimated  2.5 M Directors in Australia from November 2021 will need to verify their identity as part of a new director
identification number (Director ID) regime. The Director ID will be a unique identifier that a director will apply for once and will keep
forever.]]></post_content_short>
    <post_icon></post_icon>
    <post_content_type>page</post_content_type>
    <post_content_url>https://www.penrithbookkeeping.com.au/news/director-id/</post_content_url>
    <post_date>2022-01-16 06:53:46</post_date>
  </posts>
</root>
