New business benchmarks available
ATO small business benchmarks The ATO has updated its small business benchmarks with the latest data from the 2015/16 financial year. In addition to helping businesses to see if they are performing within their industry average, the benchmarks are one of the tools the ATO uses to identify businesses that may be a higher risk. […]
Single Touch Payroll
It’s time to get ready for Single Touch Payroll From 1 July 2018, if you have 20 or more employees, you’ll need to use Single Touch Payroll-enabled software to report your tax and super information to the ATO. You’ll need to report the following on or before your payroll pay day: employee payments such as […]
ATO’s new look SBSCH here in February
On 26 February, the Small Business Superannuation Clearing House (SBSCH) service will join the ATO’s online services Business Portal. To manage the transition, the SBSCH will be unavailable from Tuesday, 20 February 2018 to Sunday, 25 February 2018 inclusive. During this time the ATO will be transferring your data across to the new system. Super contribution payments in […]
ATO’s Transparency of tax debt measure
Businesses encouraged to engage with the ATO and pay debts in a timely manner to avoid credit reporting In the 2016–2017 Mid-Year Economic and Fiscal OutlookExternal Link (MYEFO), the government announced that the ATO will be allowed to report to registered credit reporting bureaus (CRBs) the tax debt information of businesses that do not effectively engage with the ATO to […]
2016–17 SMSF return extension
ATO extends due date for 2016–17 SMSF returns This week the ATO announced that it will extend the due date for lodgment of self-managed superannuation fund (SMSF) annual returns for 2016–17 to 30 June 2018. Deputy Commissioner James O’Halloran said “We recognise there are some major new considerations and decisions for SMSFs and their advisers to […]