SINGLE TOUCH PAYROLL PENALTIES Single Touch Payroll (STP) has certainly given bookkeepers and their clients a lot to think about, and we all can appreciate that the ATO has taken a measured and considered approach to its implementation. But we…
FAIR WORK PRIORITIES FOR 2019–2020 Fair Work Ombudsman (FWO) Sandra Parker has announced the FWO priorities for 2019–2020 Key themes (ICB extract) a stronger approach to enforcementstrong message of deterrence to would-be lawbreakers Priorities Fast food, restaurants and cafes Horticulture…
Written by: The Institute of Certified Bookkeepers The TPAR informs the ATO about payments that are made to contractors for providing services.Industries required to report TPAR for 2019 are listed in the below table. Contractors can include subcontractors, consultants and…
SUPERANNUATION Compliance New legislation to amend laws relating to Super and PAYG withholding compliance have become effective from 1st April 2019: The ATO are now able to disclose information to employees: the non-payment of superannuation by employers (past and present) including…
On 30 May 2019 the Fair Work Commission announced that as of the first full pay period in July, the minimum wages in modern awards would increase by 3% (and so would the Federal minimum wage for award-free employees). But…
Review Assets Bought and Sold Fixed assets are commonly known as property, plant and equipment and is an accounting term for assets that cannot be easily converted into cash. Therefore, the allocation of assets is important to ensure the asset…
SUPER CONTRIBUTIONS – TOO MUCH CAN MEAN EXTRA TAX There are caps on the amount you can contribute to your super each financial year to be taxed at lower rates. If you contribute over these caps, you may have to…
Help for small business The ATO are committed to making it as easy as possible for all small businesses to understand and meet their tax obligations. The ATO have an extensive and dedicated focus on: education, prevention and support delivering…
This article is the first in a series introducing you to the importance of intellectual property and how to protect your intellectual property. In this first article you will learn about trade marks and domain names. Your brand can be…