Build your financial security with OBT Financial Group – Lockyer Valley’s Business of the Year 2015 and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 30 years.
Join the ATO to learn about tax for small business at free face to face tax workshops in Gatton run by ATO staff in September.
Meet your PAYG Withholding Obligations or lose your tax deduction
Are you meeting your Pay As You Go (PAYG) Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
Employers, are you STP ready?
After a staggered rollout, Single Touch Payroll now requires all employers to transfer their payroll transaction data to the Tax Office each time employees are paid. Is your payroll geared to handle new reporting requirements?
No tax deductions for unmet tax obligations
Don’t lose your tax deduction for your employee or contractor payments. Do lodge your BAS on time and lodge your STP events every time you pay wages and withhold the correct amounts from your payments to employees and subcontractors. Read why.
Xero’s Payroll Only plan
From 1 July this year, Single Touch Payroll (STP) will apply to all employers in Australia. Following months of development by Xero, they’ve announced the launch of Payroll Only plan to assist small businesses with STP. See if it can help you.
Scammers adopt ‘Robocall’ to target taxpayers
The Australian Taxation Office is warning about the continuation of unprecedented numbers of pre-recorded phone calls experienced last year which impersonate legitimate tax office phone numbers. The latest scam is being initiated by robocall technology.
Bulk ABN cancellations set to continue
The ATO will carry on with its bulk ABN cancellation program in a bid to stamp out inactive ABNs, as the government continues to mull reforming the system.
Employers hit with rolling SG audits
Employers are increasingly being subjected to a rolling series of audits by the ATO when they slip behind on their SG obligations, as the Tax Office has now taken a harder line on non-compliance.
AUSkey replacement coming
AUSkey will be replaced in 2020 by myGovID and RAM to offer a secure, simple and more flexible mobile authorisation solution.
Single Touch Payroll
Single Touch Payroll is mandatory for employers with 20+ staff from 1 July 2018, and will be mandatory for all employers 1 July 2019. Read how to get ready.
