News

SINGLE TOUCH PAYROLL

Single Touch Payroll is a government initiative to streamline business reporting obligations. From 1st July 2018 employers with 20 or more employees will need to report using Single Touch Payroll.  Employers will need to report payments such as salaries and wages, pay as you go (PAYG) withholding and super information directly from their payroll software […]

ATO SUPER CLEARING HOUSE CHANGES

In early 2018 the ATO Small Business Superannuation Clearing House (SBSCH) will be moving to online services. You will be able to access the SBSCH using the Tax Agent portals, BAS portals or mygov account. The ATO will email SBSCH authorised contacts about the transition in due course. If you have any questions regarding this […]

PAYROLL TAX CUTS FOR REGIONAL VICTORIAN BUSINESSES

In the 2017/18 Federal Budget the Government announced cuts to Payroll Tax for Regional Victorian Businesses. From 1 July 2017 Regional Victorian business may now qualify for a 25% cut in their payroll tax. Employers that pay at least 85% of their Victorian wages to employees working mainly in regional areas will be eligible for […]

SIMPLER BAS FOR SMALL BUSINESSES

From 1st July 2017, GST reporting on Business Activity Statement will become easier with Simpler BAS. All small businesses with an annual GST turnover of less than $10 million will be automatically moved to Simpler BAS. If your annual GST turnover is $10 million or more, your reporting requirements will remain the same. If you qualify […]

FEDERAL BUDGET 2017-18 – What it means for you

The 2017-18 Federal Budget was handed down by the Treasurer on Tuesday 9 May 2017. Highlights include: Notwithstanding speculation to the contrary, the Temporary Budget Repair Levy (levied at two percent of taxable income in excess of $180,000) will cease on 30 June this year as planned. The $20,000 immediate write-off for small businesses is being extended […]

TFN Declaration forms can now be downloaded

TFN Declarations can now be downloaded and printed from the ATO website.  Alternatively, employees can download the form, fill it in on screen and print it off. Make sure you have taken a copy for your records. The Original copy needs to be sent the ATO address on the form within 14 day. For more information or to […]