ATO Superannuation Compliance

ATO Superannuation Compliance (extract from the ATO 16 January 2019) Paying superannuation to your employees is an important part of being an employer. We are here to assist in meeting your obligations but the ATO are keeping a better…

Is it a scam?

Is it a scam? From the ATO 3 January 2019 Story: You get a phone call. The caller says they’re from the ATO. They want you to pay a debt (which you know nothing about), or are asking for your personal details. But it doesn’t seem…

Rental Property investors to lose out from proposed budget changes

Rental Property investors to lose out from proposed budget changes May 2017 The 2017 Federal Budget, handed down by Treasurer Scott Morrison on Tuesday night, 9th May at 7:30pm AEST includes proposed changes which will affect residential…

Single Touch Payroll

Single Touch Payroll STP is a new concept being introduced to have business pay their staff obligations at the point of incurring the liability. If staff are paid weekly then the PAYG Withholding along with any Superannuation would be transmitted…

SuperStream

SuperStream The ATO introduced a new payment system for employee Super Contributions called SuperStream on 1 July 2016. SuperStream is the way businesses must now pay employee superannuation guarantee contributions to the choice super…

Contractor Taxable Payments Annual Reporting

Contractor Taxable Payments Annual Reporting From 1 July 2012, businesses in the building and construction industry need to report the total payments they make to each subcontractor for building and construction services during that year. You…

Novated leases and the deductibility of after-tax running costs

Article provided by Tax & Super Australia Including a car in a salary package is a popular remuneration arrangement, and doing so as part of a salary sacrifice package will often give rise the a “novated lease”.  Costs in operating…

Substantiation for mobile, home phone and internet costs

Provided by Tax & Super Australia The ATO has issued guidance on making claims for mobile phone use as well as home phone and internet expenses. Substantiation for mobile, home phone and internet costs It says that if a client uses…

Using a Tax Agent

Individual Lodgments You have until 31 October each year to lodge your tax or you have a later due date when a registered tax agent prepares your tax return. Failure to lodge on time penalty The ATO may apply a penalty for failure…