May Reporting deadline for Jobkeeper is 14th June
Don’t forget you need to log into the ATO portal to complete the reporting by 14th June.
ATO sounds warning on STP deadline
The 30 September deadline for small businesses with 19 or less employees to become single touch payroll compliant is now just two weeks away.
According to the ATO, there are 350,000 small businesses now reporting under STP, or just under 50 per cent of the estimated 750,000 small business population.
The ATO Assistant Commissioner said it was important for employers to understand the range of concessions or deferrals available to them if they are not ready to report by 30 September.
Concessional reporting is available to micro employers, closely held payees, and seasonal intermittent employers.
For more info pls contact Maurie on 0418573667
STP Update Due Date
Small employers with 19 or less employees – need to report through STP any time before 30 September 2019.
The ATO will be contacting all employers over the next few weeks to ensure they register. Not sure what to do? Phone Maurie on 0418 573 667
Single Touch Payroll Legislation Passed
All employers will now be required to submit their payroll and Super data each Payrun come 1 Jul 19. If you don’t have a payroll system, we can help you with this from around $10 per month. Call Maurie on 0418573667.
Building Contractors Report due 28 Aug
If you are in the building and construction industry, and have paid contractors for building and construction services in 2017–18, your Taxable payments annual report (TPAR) is due by 28 August 2018. Pls contact Maurie on 0418573667 for assistance in completing and filing this if needed.
Single Touch Payroll
The Australian Taxation Office (ATO) has introduced a new system, Single Touch Payroll (STP), that may impact your business payroll reporting from 1 July 2018. If you have more than 20 employees as of 31 Mar 18, you will need to commence on 1 Jul 18. For further info pls contact Maurie on 0418573667.
Simpler Bas is here!
From Jul 17 small business clients with a GST turnover of less than $10 million can now use Simpler BAS and they only need to report:
- G1 Total Sales
- 1A GST on Sales
- 1B GST on Purchases
Simpler BAS is not available for clients with a GST turnover of $10 million or more.
For more info contact Maurie on 0418 573 667
Simpler BAS is coming soon
The ATO is reducing the amount of information needed for the business activity statement (BAS) to simplify GST reporting.
From 1 July 2017, Simpler BAS will be the default GST reporting method for small businesses with a GST turnover of less than $10 million.
They will only need to report:
- Total sales
- GST on sales
- GST on purchases.
This will not change their reporting cycle, record keeping requirements, or how they report other taxes on their BAS.
Please contcat Maurie for more info on 0418573667
New Bas Reporting
From 1 July 2017, small businesses will only be required to report:
- GST collected (1A)
- GST entitled to be claimed (1B)
- Total sales (G1).
Stay tuned for more information. Note this does not change your Bas amounts paid or refunded.
Super Stream Update
The deadline for all employers to be SuperStream compliant has now passed. All employers should be paying super and sending the corresponding data in an appropriate electronic format.
If you haven’t made this compulsory switch contact Maurie on 0418 573 667 for assistance
