Miscellaneous

Are you an Uber driver?

 

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The sharing economy is such a hot topic right now.  Think Airbnb, Uber and Airtasker.

If you bring in income via the sharing economy you might be disappointed to learn that tax rules apply to the sharing economy just like they do to the rest of the economy.

The Federal Court of Australia has handed down its decision that ride-sourcing is taxi travel.  For GST purposes, the word taxi means a car (vehicle) made available for public hire that is used to transport passengers for fares.  Don’t be caught out thinking that you earn less than the current GST registration threshold of $75,000 – it doesn’t apply to ride-sourcing enterprises!

In Australia, if you operate a ride-sourcing enterprise you are required to:

  • keep records
  • have an Australian business number (ABN)
  • register for GST, regardless of how much you earn
  • pay GST on the full fare received from passengers for each trip you provide
  • lodge activity statements
  • include income from ride-sourcing in your income tax returns.

Not sure if what you are doing is considered running a ride-sourcing enterprise?  Australian Taxation Office website provides more information:

Providing taxi travel services

 

Happy bookkeeping…

 

Looking for more related tips?

 

 

 

 

 

 

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5 great business blogs you should be following

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In the 4 years I’ve been writing about bookkeeping on my website The Savvy Bookkeeping Blog I’ve learned a lot from reading other people’s posts on small business.

Here are some of my favourites that I’d recommend having a look at if you’re needing inspiration or tips to run a successful business.

 

Insanely Clever Marketing

https://insanelyclevermarketing.com/

Penelope is a fellow Adelaidian whose blog covers not only marketing, but also office design and style, as well as office fashion.

One of my favourite posts: Where the heck is your branding? Get it recognised now

 

Cath Cox

https://cathcox.com/

Cath runs her own massage practice in the U.S and I love this blog because it’s such an honest insight into running a business and what has and hasn’t worked well for her. Cath’s blog has tips on such things as handling your small business taxes, getting new customers and much more.

One of my favourite posts: How to show clients you love them

 

Adventures of a QBO Bookkeeper

https://qboadventures.com/

Jennie is a Canadian bookkeeper and has a tonne of great stuff on her blog including articles, small business app reviews and videos.   Jennie manages to make bookkeeping fun (what??).

One of her short videos:  What is cloud accounting Jennie – I don’t get it.

 

Steve J Bicknell

https://stevejbicknell.com/

Steve Bicknell is an accountant based in the U.K. and is very generous in the free content he makes available for readers.  If you are a business owner based in the U.K. you are going to get a lot out of this blog.

One of my favourites posts: Do you want to work for yourself?

 

Colin Sander

https://colinsander.wordpress.com/

Colin is based in New Zealand and is the founder of Top Performers.  His focus is to “find ways for people and businesses to achieve more from less.” I particularly learn a lot from his sales-focused posts but there are lots of other areas he covers as well, including:  5 Tips to manage overload

 

All these bloggers regularly post content so you’ll always have something new to read – and in the true spirit of blogging they are extremely generous in the professional advice they give for free via their posts.

 

Happy reading…

 

The Festival Bookkeeping story

 

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I grew up in small mining towns, attended high school in Whyalla, South Australia, and got my first job as a legal secretary for a law firm there. This was also my first foray into studying at TAFE, where I was introduced to the mysteries of double entry bookkeeping.  (Little did I know this would make an appearance further down the track and become a big part of my life).

Fast forward 22 years and I’m now married with 2 children and living in Adelaide. I’ve studied and gained an Advanced Diploma in Accounting and gained the experience and extra studies required to become a Registered BAS Agent.  In between I’ve worked in accounting and administration for large corporations, for several small businesses, government organisations and a non-profit.  On the side I’ve sold Body Shop products in people’s homes where I first learned to become comfortable standing up and speaking in front of groups of people.  Without knowing it at the time, this equipped me with the confidence and skills needed to teach accounting to students at TAFE in the following years.

So this has all culminated in where I am today – having a small business based in the North Eastern suburbs of Adelaide that enables me to help other local business owners with their finances and also teaching students at TAFE.  Two things I love doing.

And that is basically the Festival Bookkeeping story. I hope that by reading this you have been able to gain an insight into both my personal and business background and why I love to do what I do.

Oh, and the short version of the story:

Country girl turned City Girl. Accounting Nerd. Small business owner helping other small business owners.

Happy bookkeeping…

You can find me on Facebook here: Festival Bookkeeping

And find me on Instagram here: Festival Bookkeeping

My 3 most popular posts of 2015

My 3 most popular postsPosts about not-for-profit bookkeeping have topped my list of most viewed posts of the past year.  Followed closely by my more general bookkeeping posts.

In case you missed them (or would like a re-cap) here they are:

  1. Not-for-profits – 6 Ways Your Bookkeeping Differs from Other Organisations
  2. What Does a Treasurer Do?
  3. 4 Common Bookkeeping Mistakes

Thanks for your support throughout the past year.  I’m looking forward to providing more information and insight into not-for-profit and small business bookkeeping in 2016. Hope you can come along for the ride.

Happy bookkeeping…

 

 

 

The Versatile Blogger Award

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The lovely Laura O’Hanlon has recently nominated Savvy Bookkeeping Blog for the Versatile Blogger Award.  Thank you Laura! Her blog Living Minimalist always guarantees a good read and was one of the first blogs I started following on WordPress.

In turn, I would like to nominate the following fellow bloggers, whose blogs I have enjoyed reading and who I believe are worthy nominees:

Swerve
Mai So-called blog
Anjalivarma
Champagne Cartel
Small Food Business
If Winning Isn’t Everything Why Keep Score?
Rocky Mountain Cowgirl
Busy-Avnish
Plus Ultra
Attila Ovari
Your Career Success Blog
An Effort to Evolve
For the Love of Wanderlust
The Quickbooks Pro Blog
The Journey – Virtual Finesse

The rules to accept the Award are the following:

  • Display the award certificate on your blog.
  • Make a post announcing your nomination and include a link to your nominator.
  • Nominate 15 deserving bloggers and notify them by leaving them a comment.
  • Post 7 interesting things about yourself.

And now to 7 interesting facts about me:
1.    I own an energetic  11 year old deaf Jack Russell terrier
2.    I think, read and dream about travel constantly
3.    I live in Australia
4.    I have a family of 4 – my gorgeous husband and 2 sons
5.    I grew up in a very small iron-ore mining town
6.    I used to be an avid fun-runner and miss the energy I used to have!
7.    I’m glad to have discovered WordPress and the blogging community

I hope you all accept and enjoy the award as well as choose fifteen other worthy bloggers to pass it onto!

Looking forward to writing and sharing!

Have so much stuff I want to write about – finally time to get some things down in writing. Everything from the mystery of debits and credits to internal control and everything in between.  Love bookkeeping and small business – finding ways to do things more accurately and efficiently is a joy (yes, I am a bit nerdy). Watch this space …