Our Insights
Single Touch Payroll changes
There have been changes to Single Touch Payroll (STP) Employers are required to report additional payroll information now or once your payroll product is ready.
Cents per kilometre deduction for car expenses
2023 income year The ATO has proposed for individual taxpayers that use the cents per kilometre method when calculating tax deductions for their work-related car
Penalties for overdue TPAR
The Taxable payments annual report (‘TPAR’) must be lodged by 28 August each year Taxpayers who operate in certain industries and that make payments to
Re-contribution of COVID-19 early release super amounts
COVID-19 early release super amounts Individuals can now re-contribute amounts they withdrew under the COVID-19 early release of super program without the re-contribution counting towards
JobMaker Year 2
Adjusting baseline headcount If you have been claiming the JobMaker Hiring Credit, please be aware that the ATO will now calculate an adjusted baseline headcount
Changes to superannuation regulations
Be aware of various new regulations and opportunities surrounding your superannuation New legislation regarding contribution requirements, visibility and guarantee eligibility is currently or soon to
Reminder of March 2022 Quarter SG
Reminder of March 2022 Quarter Superannuation Guarantee Employers are reminded that their SG obligation for the 1 January 2022 to 31 March 2022 quarter is
2022-2023 Budget Measures that are now law
Low and Middle Income Tax Offset A measure that will no doubt be beneficial for individual taxpayers is the increase in the Low and Middle
2022/23 Federal Budget
Federal Budget Highlights In this summary: Personal income tax changes (please scroll down) Changes affecting business taxpayers Other Budget announcements 1. Personal income tax changes
Managing business cash flow and income
Managing small business cash flow and income in 2022 It’s been a lean time for small businesses, and especially the families supporting them. Xero’s small
ATO business support
ATO support for businesses in difficult times The ATO has reminded taxpayers that it has a range of support available for small businesses experiencing difficult
Payroll matters February 2022
Higher PAYG withholding rates continue to apply to backpackers As we recently communicated, the High Court has held that the ‘working holiday maker tax’ (also
