Once you start reporting under Single Touch Payroll, you will no longer be required to issue a Payment Summary. Your final payment summary to employees is due 14th July. After this date your employees can access their income statement through the ATO via myGov. This is what you will need: Payroll Checklist · Make sure you
Are you ready for Single Touch Payroll? For employers with 19 or fewer employees, single touch payroll (STP) legislation comes into effect today. Are you ready? What is Single Touch Payroll and what do the changes mean for your business and who does it affect? What will you need to do to prepare, so that
If you are already reporting Single Touch Payroll (STP) to the ATO, there is a different process for issuing payment summaries from now on. Employers must provide payment summaries to employees by 14 July. In the STP reporting system, employers must make a finalisation declaration by this date, in order that the employee’s information will
With the Federal election in our mist and the war on budgets plastered all over the media you have probably heard a lot about the instant asset write-off changes. Finally the Treasury Laws Amendment (Increasing the Instant Asset Write-Off for Small Business Entities) Bill 2019 has officially been passed by the Senate, House of Representatives
Businesses that advertise as “cash only” can expect a visit from the taxation office in the upcoming financial year. Peter Holt, the ATO’s Commissioner Assistant has stated that in the 2019/20 financial year, the ATO will be visiting a further 10,000 small businesses nationwide. The taxation office will be targeting their efforts towards businesses who
Legislation recently passed requires ALL EMPLOYERS, big or small, to send a report to the ATO after every pay run, starting 1 July. No more paper ledgers or using Excel spreadsheets to print payslips. And gone will be the days of payroll advice via fax or hard copy mail. What actually is Single Touch
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