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Latest Accounting News
Hot Issues
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Director Penalty Notices (DPN)
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Articles
ATO clears up FAQs about Single Touch Payroll
GST reporting: common errors and how to correct them
LRBAs, guarantees in need of review after property market falls
Victorian Property Valuation Cycle
Australia - toward EOFY 2019
Australian Taxation Office (ATO) expects 200,000 to miss out on refunds by failing to lodge
Biggest personal tax cuts in a decade a priority for Government
Government rules out GST changes following ATO report
ATO issues warning after ‘unprecedented’ spike in impersonation scams
Crypto transactions in ATO sights with new data-matching program
Government to establish $2 billion fund for small business lending
Small business corporate tax rates Bill is now law
ATO to double rental deduction audits to 4,500
ATO set to issue excess super contribution determinations
How's Australia going as we approach the election?
Single Touch Payroll (STP) is compulsory for all small businesses.
Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
FBT Reminder – Odometer Reading
‘Big awareness push’ underway as STP deadline approaches
GST collection on overseas goods at 300% of forecasts
The problem with getting to 53 years of age.
Lost Beneficiaries
New quarterly STP reporting method for closely held payees revealed
Some Australian figures to help on Budget night.
Employers hit with rolling SG audits as ATO toughens stance
Single Touch Payroll (STP) is compulsory for all small businesses.

STP is mandatory for all small Australian businesses with 19 or less employees and it starts on the 1st July 2019.  Are you ready?  Your Accountant can help with any questions you have.


Some basic questions that are being asked and the answers.



       


 


What is STP?


Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO. ... There will also be a number of options available for employers who do not use payroll software, such as No-cost and low-cost Single Touch Payroll solutions.


Is STP compulsory?


Single Touch Payroll is already compulsory for businesses with 20 or more employees. Those businesses already report their employees' payroll and super information to the ATO each time they pay their employees. 


From the 1st July 2019 STP becomes compulsory for all businesses, not matter how few employees they have.


What is STP Australia?


Single touch payroll is a new regulation that changes when and how small businesses report payroll activity to the Australian Tax Office (ATO). Now, they need to send a report after each pay day.


What are the benefits of STP?


Single Touch Payroll is the government trying to align reporting obligations to payroll processes. With STP, business owners can submit payroll information, such as salaries, allowances, deductions, PAYG and super, immediately after a 'payroll event' – avoiding the need for action at a later date.


Click here to for more information and resources on the ATO website.


 


Australian Taxation Office - ATO




3rd-May-2019
        
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