Hospitality

Hospitality Industry Accounting

Specialist accounting for the hospitality industry, addressing ATO requirements and Fair Work award compliance.

Hospitality Tax Obligations

• GST on Food and Drink: Most food and drink sold for consumption on premises is subject to GST. Basic ingredients and some takeaway foods may be GST-free
• Liquor GST: Alcohol is always subject to GST
• PAYG Withholding: Correct withholding for all employees including casuals, part-time, and full-time
• Fringe Benefits Tax: Staff meals, entertainment, and other benefits may be subject to FBT

Award Wage Compliance

The hospitality industry is covered by the Hospitality Industry (General) Award and the Restaurant Industry Award. Key compliance areas include:

• Correct classification of employees under award levels
• Penalty rates for weekends, public holidays, and late nights
• Overtime rates and reasonable additional hours
• Allowances (uniform, laundry, meal, travel)
• Leave entitlements (annual, personal, long service)
• Superannuation guarantee on all ordinary time earnings

Our Hospitality Accounting Services

• POS Integration: Connect your point-of-sale system to accounting software
• Tip and Gratuity Reporting: Correct treatment of tips, service charges, and troncs
• Cost of Goods Sold: Food cost analysis, recipe costing, and waste tracking
• Payroll Management: Award interpretation, roster-to-payroll reconciliation
• Liquor Licence Compliance: Reporting obligations related to liquor licensing
• Cash Flow Management: Manage seasonal peaks and troughs in revenue
• Business Benchmarking: Compare performance against industry averages

Common Deductions for Hospitality Businesses

• Food and beverage purchases
• Staff wages, super, and workers compensation
• Rent and outgoings for premises
• Equipment and kitchen fit-out depreciation
• Marketing and advertising
• Liquor licence fees and regulatory costs

Sources: ATO ??? Hospitality Industry, Fair Work ??? Restaurant Industry