Now that we are in August (time flies!) and well into the 2019 financial year, many of you are probably busy preparing your file to send to us for review. Year-end reviews can sometimes be a daunting experience as you never know what the result will be, or what more documents you need to bring in to us… So is there anything you can do to make both of our lives easier? Definitely!
Every now and then we get asked the question – “I want to hire someone to help with our business so I can have more time growing my business.” But before you put an ad up, or spread the word around, have you considered the following 10 things about finding the right staff, your business financial situation and understand the extra compliance work required?
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 us.
This means that you need to do a headcount of the number of employees on 1 April 2018, if it is 20 or more employees then you are required to use Single Touch Payroll from 1 July 2018.
More information can be found on our article published earlier .
If you require assistance please get in touch with us!
The ATO is implementing the new Single Touch Payroll system so you can have quick access to your employee pay information.
How will it affect me?
The ATO is introducing a new system – Single Touch Payroll – to help employers report their employee payment information more easily and efficiently.
What is Single Touch Payroll?
Single Touch Payroll is a new system for employers to conveniently report their employee wages, withholding and superannuation information at the time when they prepare payroll on their accounting or payroll software.