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Restaurants & Cafes

 

We at nexZen offer a full-service arrangement to manage all the financial aspects of your business, ensuring you have the time and space to focus on your frontline management, customer service and future growth.

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Restaurants and Cafes Industry Insights

The Australian hospitality industry has experienced significant growth over the past decade, with employment in the sector increasing by 30%. For individual businesses, with increased opportunities come challenges. Competition for local and tourist dollars is heating up, while volatile exchange rates, reduced margins and increasingly complex regulations have heightened pressure on hospitality business owners.

We understand that, while your main focus is to deliver top quality hospitality to your Clients, in order to do so, we at nexZen ensure that you comply with all the regulations and also actively provide you with the advice so that you can reach your full potential.

Rich Industry Experience

We have hands-on experience gained through establishing, owning and operating venues including resorts, cafes and restaurants. We utilise that experience to deliver customer focused advisory services.
 
We also have innovative systems which offer integration between your point of sale and cloud accounting platform and automated payroll and invoicing to save your business significant time and resources.
No-cost Analysis

More control with all your Bookkeeping, Accounting and Advisory services integrated in one place (ours) saving you time, money & effort.

Low-Cost-High-Value

Packaged pricing across Bookkeeping, Accounting & High-End Tax Advice saving you thousands of dollars in fees.

Availability & Accessibility

Not just 9-5, we will meet at your place or ours and can even meet after hours to suit your needs.

Proactive versus Reactive

We follow-up to move your business forward and keep you informed on your progress towards your goals.

I have a cafe/ Restaurant

Owning a cafe/ Restaurant, you are responsible for followings:
  • New Business Setup to Start or Grow a Business Company, Trust Setup, ABN, GST, TFN, PAYG, STP, SUPER, Xero, Quickbooks, CRM, Business Name
  • Compliance to Keep The Business Solvent BAS, End of Year Accounts & Tax, STP, Super etc
  • Day to Day Accounting to get money in your bank & pay Expenses. Sales Invoicing, Paying Bills, Collecting money, Bookkeeping, Keeping Records
  • Answers to your & Team’s ongoing bookkeeping, tax & Payroll, software Queries
  • Liase with tax & Business Advisors for Business Performance, Tax Advice
  • Profitability, Cashflow Management, KPIs Management Reporting

Business Services

New Business Set up

A number of businesses shut down in first five years. At nexZen we make sure you have the right business structure, a thorough business plan, an affordable marketing plan & break even analysis so that you can place yourself with confidence in business world.

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Proactive Compliance

Compliance is one of the most important goals of any business in Australia. A non compliant business can not achieve growth or its other financial & non financial goals. At nexZen Accounting, we make sure all our clients are compliant all the time.

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Day to Day Accounting

We understand that for small businesses it is not value for money employing a full time bookkeeper or accountant these days. We work like your accounts department and provide you all the accounting services you need at an affordable price so that you just pay for what you get not for the downtime.
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Business Queries & Support

We are one stop solution for all your bookkeeping, payroll, taxation, accounting systems, all kind of business queries. We follow our 10 phase analysis system to provide customised solutions for your queries
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Business Advisory

nexZen Accounting is involved in the everyday and long term business decisions of our clients. We provide customised solutions to markedly improve business management, internal systems, sustainability and profitability.

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Business Value Creation

This service is heart of nexZen Accounting We work together with our clients to increase attractiveness & market value of their business by setting up clear vision, values & directions of their business. We bring efficiencies by setting efficient systems in place in sync with our mission statement

Read more

New Business Set up

A number of businesses shut down in first five years. At nexZen we make sure you have the right business structure, a thorough business plan, an affordable marketing plan & break even analysis so that you can place yourself with confidence in business world.

Read More

Proactive Compliance

Compliance is one of the most important goals of any business in Australia. A non compliant business can not achieve growth or its other financial & non financial goals. At nexZen Accounting, we make sure all our clients are compliant all the time.

Read More

Day to Day Accounting

We understand that for small businesses it is not value for money employing a full time bookkeeper or accountant these days. We work like your accounts department and provide you all the accounting services you need at an affordable price so that you just pay for what you get not for the downtime.

Read More

Business Queries & Support

We are one stop solution for all your bookkeeping, payroll, taxation, accounting systems, all kind of business queries. We follow our 10 phase analysis system to provide customised solutions for your queries

Read More

Business Advisory

nexZen Accounting is involved in the everyday and long term business decisions of our clients. We provide customised solutions to markedly improve business management, internal systems, sustainability and profitability.

Read More

Business Value Creation

This service is heart of nexZen Accounting We work together with our clients to increase attractiveness & market value of their business by setting up clear vision, values & directions of their business. We bring efficiencies by setting efficient systems in place in sync with our mission statement

Read More

NDIS Tax Concessions

NDIS Charities must be registered with the Australian Charities and Not-for-profits Commission (ACNC) before they can be endorsed by the Australian Taxation Office (ATO) to access charity tax concessions.
Income tax exemption is an exemption from paying income tax, removing the need to lodge income tax returns. Entities that are endorsed as income tax exempt are entitled to a refund of franking credits on franked dividends they receive.
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Want To Talk?
Please Call Us: 1300 347 678

Accounting is not just Compliance or Meeting ATO deadlines It is more about YOU, Your Business & Your Lifestyle – it is about setting up your goals & placing the strategies to achieve those.
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We are loved for what we do

See why people love us

Glen Coventon

“Mukesh and his team take the time to understand your business and are willing to do what it takes to provide a quality service at fair price”.
Glen Coventon
-Pertrain Pty Ltd

Suman kaushal

“Mukesh is very approachable. He and Nidhi give concise positive advice. What I really appreciate is the personal service I get. I recommend them”.
Suman kaushal
-Shalimar Indian Restaurant-

Annette Holdaway

“We have been with Nexzen Accounting for a number of years and recommend them highly for their personal service, professional knowledge and just how they make it so easy to cover all our accounting needs”.
Annette Holdaway
— Aussie Bargain

Ross Broadfoot

“I have always found the team led by Mukesh at Nexzen Accounting to be very helpful. As a Sole Operator, moving to Xero has been a great move! Mukesh also set up a Drop-Box for us to share documents to each other”.
Ross Broadfoot
- HRB Consulting

Stevhan Pereira

“I like Nexzen’s idea of providing us a quarterly analysis of our financials along our BAS lodgement. It helps us to keep on track”.
Stevhan Pereira
-Bombaywala Pty Ltd

Bryce Coventon

“I would like to recommend Mukesh to anyone seeking a competent accountant who offers a service that is tailored to meet their exact need. It is refreshing to meet a professional who I can trust with our finances“.
Bryce Coventon
- Performance Training

Steve & Sancha

“Mukesh and the team at NexZen Accounting have been so proactive with regard to responding to the Covid-19 situation. I called first up Monday morning and from the outset they explained that they were working on customised responses to suit all their individual clients needs and particular circumstances. At times like this you need strong professional action like this! many thanks”.
Steve & Sancha
-Suncoast Sign

Soraya Saraswati

“Mukesh from NexZen Accounting has been very helpful and we are so impressed they are now our new accountants. We are very happy with the service. Thank you.”
Soraya Saraswati
-Global Records Essential oils

Simon Murray

“Consider this. With all my years in business I have never come across a more professional company then NexZen Accounting. Their transferable knowledge is beyond reproach.”

Simon Murray
-CEO Sunshine Coast Disability Services

Neil Steffensen

“Setting up accounting software for business is not an easy task anytime. But Mukesh and his team has been extremely helpful and well informed which is why I would not hesitate to recommend their services to any business.”

Neil Steffensen
-SQ Homes

Anton Oud

“nexZen are next level accountants and bookkeepers. If you’re looking for a proactive, high value, low cost, one stop solution at a fixed cost and is never on holidays, then I highly recommend nexZen accounting”

Anton Oud
- PSS Group Pty Ltd

Vivek Nayyar

“The support and help we receive from nexZen is just excellent. Their expertise in accounting and taxation assures us the best possible decision for our business.

Vivek Nayyar
-VKN Pty Ltd —
Glen Coventon
- Pertrain Pty Ltd -

“Mukesh and his team take the time to understand your business and are willing to do what it takes to provide a quality service at fair price”.

Annette Holdaway
—Aussie Bargain—

“We have been with Nexzen Accounting for a number of years and recommend them highly for their personal service, professional knowledge and just how they make it so easy to cover all our accounting needs”

Ross Broadfoot
—HRB Consulting—

“I have always found the team led by Mukesh at Nexzen Accounting to be very helpful. As a Sole Operator, moving to Xero has been a great move! Mukesh also set up a Drop-Box for us to share documents to each other”.

Stevhan Pereira
—Bombaywala Pty Ltd—

“I like Nexzen’s idea of providing us a quarterly analysis of our financials along our BAS lodgement. It helps us to keep on track”.

Bryce Coventon
—Performance Training—

“I would like to recommend Mukesh to anyone seeking a competent accountant who offers a service that is tailored to meet their exact need. It is refreshing to meet a professional who I can trust with our finances“.

Steve & Sancha
—Suncoast Sign—

“Mukesh and the team at NexZen Accounting have been so proactive with regard to responding to the Covid-19 situation. I called first up Monday morning and from the outset they explained that they were working on customised responses to suit all their individual clients needs and particular circumstances. At times like this you need strong professional action like this! many thanks”.

Soraya Saraswati
— Global Records Essential oils—

“Mukesh from NexZen Accounting has been very helpful and we are so impressed they are now our new accountants. We are very happy with the service. Thank you.”

Simon Murray
—CEO Sunshine Coast Disability Services—

“Consider this. With all my years in business I have never come across a more professional company then NexZen Accounting. Their transferable knowledge is beyond reproach.

Neil Steffensen
—SQ Homes—

“Setting up accounting software for business is not an easy task anytime. But Mukesh and his team has been extremely helpful and well informed which is why I would not hesitate to recommend their services to any business.”

Anton Oud
—PSS Group Pty Ltd—

“nexZen are next level accountants and bookkeepers. If you’re looking for a proactive, high value, low cost, one stop solution at a fixed cost and is never on holidays, then I highly recommend nexZen accounting”

Vivek Nayyar
—VKN Pty Ltd—

“The support and help we receive from nexZen is just excellent. Their expertise in accounting and taxation assures us the best possible decision for our business.

nexZen 5 Star Performance Guarantee

  • Price: If you get an unexpected bill that we haven’t agreed to, then don’t pay it!
  • Response: We’ll return calls/emails within one business day OR give you $100 credit
  • Deadlines: We’ll meet ATO deadlines OR give you $100 credit.
  • Support: All Clients receive Free Unlimited Help Desk; fair use applies.
  • Quality: 100% Service Satisfaction OR we’ll redo the work at our cost.

No-Cost, No-Obligation, No-Selling One-on-One Session

Partners and certifications

Accredited Practice

nexZen Accounting is a CPA Practice. We are fully accredited Tax Agents, Public Practice Tax Accountants, Cloud Bookkeepers and Business Advisors.

We have a dedicated Quality Control Department to lodge your documents on time and meet Quality Standards

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SYSTEMS REDEFINED

The member presented as a confident and capable professional and impressed me with his commitment to maintaining a very high level of professionalism.

His system displayed a real focus on assessing his clients behaviour and his philosophy was on building a relationship with his clients that would be long term. As you would expect with a practice using this model the Quality Control Manual and Risk Management statement showed evidence of being continually updated and adjusted as needed.

I really felt that the investment the member has made in building his systems will pay off as his client numbers grow.
Reviewer - RHETT Robinson CPA
Review Date - 11 May 2016
NexZen Accounting

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This is a loser that most people are probably pretty happy about — the government is extending a task force that targets tax avoidance by multinationals, large public and private groups, trusts and wealthy individuals.

It is giving the Australian Tax Office (ATO) more than $600 million over the next three years to keep the scrutiny on those groups.

The budget forecasts the extension of the task force will make the government $2.1 billion in revenue from tax over the next four years.

In bad news for people’s pay packets, real wages are not forecast to grow until later this year at the earliest thanks to higher-than-expected inflation.

At the end of last year, Treasury predicted the inflation rate would be 2.75 per cent. The reality has ended up being around 4.25 per cent.

The budget is predicting wages will only be just higher than inflation in the next couple of years, meaning cost of living pressures are unlikely to ease any time soon.

Despite current price hikes, the budget is forecasting inflation will taper off and wages will grow faster by the middle of the decade.

Buried under the wildly exciting headline of Commonwealth’s Deregulation Agenda, is the $19.9 million spend by the Australian Bureau of Statistics to develop a new reporting application to enable businesses to submit surveys on business indicators directly through their accounting software. Excellent. Real time reporting utilising verified data on the state of Australian business. Guarantee of Origin scheme, and the development of a Biodiversity Stewardship Trading Platform to support farmers to undertake biodiversity activities ahead of the introduction of a voluntary biodiversity stewardship market.

Another $148.6m is for the development of community microgrids and just over $50m to develop gas infrastructure projects.

An additional $652.6m has been set aside to extend the ATO’s Tax Avoidance Taskforce by 2 years to 30 June 2025.
In that time, the taskforce is expected to increase receipts by $2.1bn and increase payments by $652.6m.

Just prior to the Federal Budget, the Government announced the extension of the:

  • Boosting Apprenticeship Commencements wage subsidy, and
  • Completing Apprenticeship Commencement wage subsidy.

    Any employer (or Group Training Organisation) who takes on an apprentice or trainee up until 30 June 2022 can gain access to:
  • 50% of the eligible Australian Apprentice’s wages in the first year, capped at a maximum payment value of $7,000 per quarter per Australian Apprentice,
  • 10% of the eligible Australian Apprentice’s wages in the second year, capped at a maximum payment value of $1,500 per quarter per Australian Apprentice, and
  • 5% of the eligible Australian Apprentice’s wages in the third year, capped at a maximum payment value of $750 per quarter per Australian Apprentice.

From

7:30pm AEDT, 29 March 2022 until 30 June 2024

The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on external training courses provided to employees. The deduction will be available to small business with an aggregated annual turnover of less than $50 million. External training courses will need to be provided to employees in Australia or online, and delivered by entities registered in Australia.
Some exclusions will apply, such as for in-house or on-the-job training and expenditure on external training courses for persons other than employees.
We assume there will need to be a nexus between the employee’s employment and the training program undertaken for the boost, although we are waiting on further details of this initiative to be released. 
The boost for eligible expenditure incurred by 30 June 2022 will be claimed in the tax return for the following income year (that is, the 2023 tax return). The boost for eligible expenditure incurred between 1 July 2022 and 30 June 2024, will be included in the income year in which the expenditure is incurred.

From

1 July 2021

As previously announced, work‑related COVID‑19 test expenses incurred by individuals will be made tax deductible. 
Changes will also be made to ensure that FBT will not be payable by employers if they provide fringe benefits relating to COVID‑19 testing to their employees for work‑related purposes.
The changes for deductions will be effective from 1 July 2021, with the FBT changes to apply from 1 April 2021.
At this stage it is not entirely clear whether the deduction rules will cover expenses incurred where the employee is able to work from home. The initial media release indicates that the measure will cover situations where the individual has the option of working remotely, while the Budget only refers to costs of taking a COVID-19 test to attend a place of work but doesn’t specifically refer to employees who can work from home.

From

1 July 2022
Back in the 2019-20 Budget, the Government announced that Australian Business Number (ABN) holders would be stripped of their ABNs if they failed to lodge their income tax return. In addition, ABN holders would be required to annually confirm the accuracy of their details on the Australian Business Register.


This measure has been deferred for 12 months, which means that the tax return lodgement obligation is due to commence from 1 July 2022 with the annual confirmation of ABN details to commence from 1 July 2023.

As announced prior to the Budget, the Government will commit $6.6 million for the development of IT infrastructure that will enable the ATO to share Single Touch Payroll (STP) data with State and Territory Revenue Offices on an ongoing basis. 

The funding will be deployed following further consideration of which states and territories are able and willing to make investments in their own systems and administrative processes to pre-fill payroll tax returns with STP data in order to reduce compliance costs for businesses.

The measure that enables payments from certain state and territory COVID-19 business support programs to be treated as non-assessable non-exempt (NANE) income has already been extended until 30 June 2022. 
The Government has announced that the following state and territory grant programs have been made eligible for this treatment since the 2021-22 MYEFO, although it is not clear whether the relevant legislative instruments have been issued as yet:

  • New South Wales Accommodation Support Grant 
  • New South Wales Commercial Landlord Hardship Grant 
  • New South Wales Performing Arts Relaunch Package 
  • New South Wales Festival Relaunch Package 
  • New South Wales 2022 Small Business Support Program 
  • Queensland 2021 COVID 19 Business Support Grant 
  • South Australia COVID 19 Tourism and Hospitality Support Grant 
  • South Australia COVID 19 Business Hardship Grant.

    This builds on the list of existing grants paid by New South Wales and Victoria that can already qualify for NANE income treatment. 

From

1 January 2024

As announced prior to the Budget, businesses will be able to report Taxable Payments Reporting System data via their accounting software on the same lodgment cycle as their activity statements.
The measure is expected to reduce the costs of complying with the system and increase transparency.

From

1 January 2024

As announced prior to the Budget, companies will be able to choose to have their pay as you go (PAYG) instalments calculated using current financial performance, extracted from business accounting software, with some tax adjustments. 
The move is intended to ensure that instalment liabilities are aligned to the businesses cashflow. In addition, the digitisation of PAYG instalments will improve transparency and provide more accurate data on performance. 

From

2022-23 income year

Normally, GST and PAYG instalment amounts are adjusted using a GDP adjustment or uplift. For the 2022-23 income year, the Government is setting this uplift factor at 2% instead of the 10% that would have applied. 

The 2% uplift rate will apply to small to medium enterprises eligible to use the relevant instalment methods for instalments for the 2022-23 income year and are due after the amending legislation comes into effect:

  • Up to $10 million annual aggregated turnover for GST instalments and 
  • $50 million annual aggregated turnover for PAYG instalments 
From 7:30pm AEDT, 29 March 2022 until 30 June 2023
The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on business expenses and depreciating assets that support their digital adoption, such as portable payment devices, cyber security systems or subscriptions to cloud based services. The technology boost will be available to small business with an aggregated annual turnover of less than $50 million.An annual expenditure cap of $100,000 will apply to the boost. The boost for eligible expenditure incurred by 30 June 2022 will be claimed in tax returns for the following income year. The boost for eligible expenditure incurred between 1 July 2022 and 30 June 2023 will be included in the income year in which the expenditure is incurred. That is, the additional deduction available under this measure is expected to be claimed in the 2023 tax return.  

The temporary 50% reduction in superannuation minimum drawdown requirements for account-based pensions and similar products has been extended to 30 June 2023. 


Minimum superannuation drawdown rates 2019-2023

Age 

Default minimum drawdown rates (%) 

Reduced rates by 50% for the 2019-20 to 2022-23 income years (%) 

Under 65 

4 

2 

65-74 

5 

2.5 

75-79 

6 

3 

80-84 

7 

3.5 

85-89 

9 

4.5 

90-94 

11 

5.5 

95 or more 

14 

7 

 

From

1 July 2024

Trust and beneficiary income reporting and processing will be digitalised with all trusts being provided with the option of lodging income tax returns electronically.

While this measure will reduce compliance costs, it will also increase transparency and provide the ATO with a greater insight into where anomalies are occurring.

From

1 July 2021

The Medicare levy low income thresholds for seniors and pensioners, families and singles will increase from 1 July 2021.

 

2020-21 

2021-22 

Singles 

$23,226 

$23,365

Family threshold 

$39,167 

$39,402

Single seniors and pensioners 

$36,705 

$36,925

Family threshold for seniors and pensioners 

$51,094 

$51,401

 
For each dependent child or student, the family income thresholds increase by a further $3,619 instead of the previous amount of $3,597. 

The Home Guarantee Scheme guarantees part of an eligible buyer’s home loan, enabling people to buy a home with a smaller deposit and without the need for lenders mortgage insurance. The Government has extended two existing guarantees and introduced a new regional scheme.

Just prior to the Budget, the Government announced:

  • First Home Guarantee – from 1 July 2022, an increase from 10,000 to 35,000 guarantees to support eligible first homebuyers to purchase a new or existing home. 
  • Single parent Family Home Guarantee – 5,000 guarantees each year from 1 July 2022 to 30 June 2025. The family home guarantee supports eligible single parents with children to buy their first home or to re-enter the housing market with a deposit of as little as 2%.
  • Introduction of a Regional Home Guarantee. This guarantee will support eligible citizens and permanent residents who have not owed a home for 5 years (including non-first home buyers) to purchase or construct a new home in regional areas with a minimum 5% deposit areas (subject to the passage of enabling legislation).

From

April 2022

A one-off $250 ‘cost of living payment’ will be provided to Australian resident recipients of the following payments and concession card holders:

  • Age Pension 
  • Disability Support Pension 
  • Parenting Payment 
  • Carer Payment 
  • Carer Allowance (if not in receipt of a primary income support payment) 
  • Jobseeker Payment 
  • Youth Allowance 
  • Austudy and Abstudy Living Allowance 
  • Double Orphan Pension 
  • Special Benefit 
  • Farm Household Allowance 
  • Pensioner Concession Card (PCC) holders 
  • Commonwealth Seniors Health Card holders 
  • Eligible Veterans’ Affairs payment recipients and Veteran Gold card holders.

    The payments are exempt from taxation and will not count as income support for the purposes of any income support payment. An individual can only receive one payment.

From

1 July 2021 to 30 June 2022

The low and middle income tax offset (LMITO) currently provides a reduction in tax of up to $1,080 for individuals with a taxable income of up to $126,000.

The tax offset is triggered when a taxpayer lodges their 2021-22 tax return.

For the 2021-22, the LMITO will be increased by $420 which means that the proposed new rates for individuals are as follows:

 

Taxable income 

Offset 

$37,000 or less 

$675

Between $37,001 and $48,000 

$675 plus 7.5 cents for every dollar above $37,000, up to a maximum of $1,500

Between $48,001 and $90,000 

$1,500

Between $90,001 and $126,000 

$1,500 minus 3 cents for every dollar of the amount above $90,000 

From12.01am 30 March 2022

There are a few jokes going around social media about the price of fuel.

As widely predicted, the Government will temporarily reduce the excise and excise-equivalent customs duty rate that applies to petrol and diesel by 50% for 6 months from Budget night. That is, the current 44.2 cents per litre excise rate will reduce to 22.1 cents per litre from Budget night. However, the measure is subject to the passage of the enabling legislation so don’t expect to see a change right away. 

 The reduction extends to all other fuel and petroleum based products except aviation fuels.

At the conclusion of the 6 months on 28 September 2022, the excise and excise-equivalent customs duty rates revert to previous rates including any indexation that would have applied during the 6 month period. 

The Australian Competition and Consumer Commission (ACCC) will monitor the price behaviour of retailers to ensure that the lower excise rate is passed on to consumers.

The measure comes at a cost of $5.6bn.

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