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STP Phase 2 Starts January 2022

Learn what STP Phase 2 means for employers

Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022.

If you employ staff, you’ll need to be ready for this change.

If your business uses Xero, it will be compliant.

If not — or you know someone who is not — there’s time to start thinking […]

Single Touch Payroll (STP) Phase 2 reporting

Learn about what STP Phase 2 means for you

Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022.

If you employ staff, you’ll need to be ready for this change.

New guidelines that explain the changes are now available to help.

STP Phase 2 reporting means changes to the way you report:

amounts paid […]

Switch now to Online services for business

Online services for business replaces the Business Portal and the electronic super audit tool

With a range of new features, this new service allows users to interact with the ATO in a more contemporary way.

Online services for business can be accessed on multiple devices, including smart devices like your phone or tablet.

To start […]

Taxable payments annual report (TPAR)

It’s not just businesses that pay contractors in the building and construction industry that need to lodge a TPAR

The ATO’s taxable payments reporting system (TPRS) is a black economy measure designed to assist the ATO identify contractors who don’t report or under-report their income.

The ATO estimates that around 280,000 businesses need to lodge […]

Expansion of Single Touch Payroll

Employers to report additional information through STP on or before each payday.

In the 2019-20 Budget it was announced that the data collected through Single Touch Payroll (STP) will be expanded.

This expansion of STP reduces the reporting burden for employers who need to report information about their employees to multiple government agencies and supports […]

Family trust elections

Review your family trust elections to get your tax right

A family trust for tax purposes is one whose trustee has made a valid family trust election (FTE).

The FTE entitles the trust to access certain concessions, however family trust distribution tax (FTDT) is imposed when distributions are made outside the family group.

Example

The […]

Changes to STP reporting from 1 July

This may affect how you report to the Tax Office

There are changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021.

Employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are covered by a deferral […]

Changes to company tax rates

There are changes to the company tax rates

The full company tax rate is 30% and the lower company tax rate is 27.5%.

This page shows when to apply the lower rate and how to work out franking credits.

Company tax rates apply to:

companies corporate unit trusts public trading trusts.

The full company tax […]

JobMaker Hiring Credit

Information for employers

The JobMaker Hiring Credit is for employers

The JobMaker Hiring Credit recently opened for employers and we would like to share some information with our clients to make you aware of this opportunity.

The scheme applies to employees starting employment between 7 October 2020 and 6 October 2021.

It is a scheme […]

SG amnesty ends 7 September 2020

Time running out for employers to apply for superannuation guarantee (SG) amnesty

Catch up on past unpaid super without incurring a penalty or paying administration fees.

The ATO is encouraging employers to apply for the amnesty and make payments as early as they can. Any amnesty amounts paid before 7 September 2020 are tax-deductible.

For […]