Viewing entries tagged
payroll tax

What does Single Touch Payroll mean with your EOFY reporting?

What does Single Touch Payroll mean with your EOFY reporting?

Single Touch Payroll (STP) is a new regulation introduced by the ATO. All large businesses (more than 20 employees) should now be using STP, or have applied for a later start date. For employers with less than 20 employees, STP reporting will begin on 1 July 2019.

Single Touch Payroll: what you need to know

Single Touch Payroll: what you need to know

Single Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – comes into effect from 1 July 2018.

What's changing in 2018?

What's changing in 2018?

On 1 July 2018 Super concessions for downsizers come into effect. If you are over 65, have held your home for 10 years or more and are looking to sell, you can contribute a lump sum of up to $300,000 per person to superannuation without being restricted by the existing non-concessional contribution caps - $100,000 subject to your total superannuation balance - or age restrictions.

Are you a tradie? Here's some tips about what you can claim as tax deductions

Are you a tradie? Here's some tips about what you can claim as tax deductions

If you work in a particular trade that involves manual labour then you are undoubtedly a tradie…or trades person.

Any financial outlay that you have in order to be able to carry out your job is classed as an expense. Tradies have many costs in doing their business, including transport, tools and safety or particular types of clothing.