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In case you missed it – The company tax Bill that did pass Parliament.
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ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
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Salary sacrifice integrity
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Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Tax Office reveals adventurous, dubious claims ahead of tax time
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
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Super savings gap for women stuck at 30%
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
Statistics for all Australians
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
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Touch Payroll (STP)

Extensive STP resources can be found in a related article in last month's edition below.



       


 


There are some minor benefits to an employer, from reporting to the Australian Taxation Office (ATO) employee details with every pay.


An employer that has met its STP reporting obligations for an income year will not need to comply with the following obligations:-


  • Notification of withholding amounts
     
  • Annual payment summaries
     
  • Payment summaries for payments for termination of employment
     
  • Annual reports to the Commissioner
     
  • Part-year payment summaries

The ATO will be able to make the information currently recorded on an annual payment summary progressively available throughout the income year to employees on ATO Online.


The ATO will use the information collected through STP reporting to pre-fill employees’ income tax returns.


 


 


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27th-June-2018
 

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