Working together during coronavirus
Working with Omnis Group during coronavirus Focussing on personal health and safety As the situation with the COVID-19 pandemic continues to rapidly escalate in Australia and around the world, we wanted to update all of our clients and key stakeholders on the measures Omnis Group has been putting in place. The priority of any measure […]
Bushfire crisis response
The ATO’s Bushfire crisis response In response to the devastating bushfires across large parts of Australia, the ATO has been keen to advise those impacted that it understands peoples priority is their family and community. If taxpayers live in one of the identified impacted postcodes, the ATO will automatically defer any lodgments or payments, meaning […]
STP and superannuation guarantee
ATO actively using data to warn employers not paying required SG on time In a presentation at the Australian Institute of Superannuation Trustees Chairs Forum, the ATO’s Deputy Commissioner confirmed that as a result of STP, the ATO now has an “unprecedented level of visibility” of super information. In particular, the ATO’s examination of Super […]
PAYG and deductions for payments to workers
PAYG withholding obligations The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019. If the PAYG withholding rules require an amount to be withheld, to claim a deduction for most payments to a worker, a […]
Super guarantee opt-out
Super guarantee opt-out for high-income earners now law From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee (‘SG’) from some of their employers, to help them avoid unintentionally going over the concessional contributions cap. If appropriate for them, they should submit the relevant ATO form to […]
ABR integrity
Measuring the integrity of the ABR From September, the Australian Business Register (ABR) will contact a random sample of ABN holders across all entity types to: confirm their business information; discuss how they use the ABN, and check their understanding of how ABNs are used; find out about their registration experience and ask for suggestions […]
STP transition ended for large employers
STP transition year for large employers has ended Single Touch Payroll (STP) reporting started for large employers (20 or more employees) from 1 July 2018. The 12 month transition period for large employers to start STP reporting ended on 30 June 2019. The ATO will contact large employers who have yet to start reporting through STP and […]
Numbers should tell a story
Money is a tricky topic for a lot of business owners There’s the matter of how to account for it, how to present it and, of course, how to raise it. In this day and age where accounting has been made a lot easier and financial information more transparent, how should business owners approach their […]
Single Touch Payroll deferrals
Transitional deferrals A transitional deferral should be used if you need more time to get ready to report through Single Touch Payroll (STP) including, being unable to report by your software provider’s deferred start date or needing more time to transition. Employers with 20 or more employees Your software provider may have applied to us for a […]
Employer warning re leave loading and OTE
ATO warning regarding annual leave loading and OTE The ATO has warned employers that it considers that annual leave loading should normally be part of ordinary time earnings (‘OTE’) for superannuation guarantee (‘SG’) purposes, unless it is referrable to a “lost opportunity to work overtime”. Therefore, if employers have self-assessed on the basis that their […]
