Talking tax with new workers
Completing a tax file number declaration The ATO is reminding employers that have taken on new employees that those employees can complete a TFN declaration through ATO online services, and that this is an easy way for them to provide both their employer and the ATO with the information needed. If a new employee has […]
SG contribution due for September 2022 quarter
Super guarantee contribution due date for September 2022 quarter The due date for employers to make super guarantee contributions for their employees for the September 2022 quarter is 28 October 2022. Varying PAYG instalments The ATO is reminding taxpayers that they can vary their pay-as-you-go (‘PAYG’) instalments if they think the amount they pay now […]
Small business tax incentives back on the table
The Government has confirmed its commitment to implementing two tax incentives These aim to support small businesses to train and upskill employees, and improve their digital and tech capacity. The Technology Investment Boost and the Skills and Training Boost were announced in the 29 March 2022 Federal Budget but remain unlegislated. Small businesses with an […]
Single Touch Reporting Phase 2
Get ready for STP Phase 2 in Xero The next stage of the Single Touch Payroll (STP) journey is coming soon in Xero. STP Phase 2 will see Australian businesses build on their existing reporting to share more information each pay run. When will STP Phase 2 reporting be available in Xero? The rollout will […]
SG contribution due date for June 2022 quarter
Super guarantee contribution due date for June 2022 quarter The due date for employers to make super guarantee contributions for their employees for the June 2022 quarter is 28 July 2022. Note that the super guarantee rate in relation to salary and wages paid on or before 30 June 2022 is 10%. Employers that do […]
Super Guarantee changes from July
Get ready for changes to super guarantee From 1 July 2022, two important super guarantee (SG) changes will apply to your business. These are: the rate of SG is increasing from 10% to 10.5% the $450 per month eligibility threshold for when SG is paid is being removed. What this means for you These changes […]
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. You need to start reporting additional information on or before each pay day — this is known as STP Phase 2. STP Phase 2 started on 1 January 2022 Some […]
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 for the claim. The ATO will amend the prefill in the claim form based on information provided in earlier claims. The ATO does this each period by calculating the greatest […]
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 due by 28 April 2022. An advance warning is also provided to employers that the compulsory 10% SG rate is going to increase to 10.5% from the period 1 July […]
COVID-19 vaccination incentives and rewards
FBT consequences of providing non-cash benefits The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination. When employees are provided a cash payment, including paid leave for employees to get their COVID-19 vaccination (or additional paid leave to recover from […]
