What Is NDIS?
National Disability Insurance Scheme or NDIS is established by National Disability Insurance Agency or NDIA. The purpose of NDIS is to facilitate the thousands of Australian who have permanent, life-changing disabilities either by birth or those that have developed over time.
The NDIS provides funds, support and care for these eligible individuals whose disabilities affect their daily lives.
Who Are NDIS Service Providers?
While the individuals who receive the care and support through NDIS are the participants, the individuals, and business owners, who offer this support are providers and registered under NDIS registration. NDIS providers make significant contributions to the community by becoming involved.
Since NDIS scheme providers target a niche, they can work with professional accountants to reduce their taxes and improve their growth.
Why Do NDIS Providers Need The Help of Professional Accountants?
While NDIS providers contribute so much to the community, they often overlook the financial aspects of their services and make common mistakes.
As an NDIS provider, you offer care services in the community by yourself and your sub-contractors. Along with your main services, you also have to manage your team and have progress reporting obligations.
In addition to this, you have time constraints, and you do what you think in terms of the accounting or taxation side without any professional guidance. Because of this, some common issues are as follows: