Picture: Australian Taxation Office
All Employers! From 1 July you’ll need to start reporting through Single Touch Payroll (STP) if you have one or more employees.
Parliament passed legislation to extend STP requirements to all employers.
This means that everyone must have a software that enables this type of reporting to the ATO. Software providers are jumping on board with this information and are offering separate packages to accommodate. Xero has release a payroll only subscription for those who do not need their full business subscription.
One thing is for sure, all employers should be taking steps now to get ready.
For more information, visit www.ato.gov.au/business/Single-Touch-Payroll
The government has announced plans to increase the Instant Asset Write-off!
The $20k Instant asset write off was due to cease at 30 June 2019 and return to $1,000. Rather than listening to calls for the government to make the $20k permanent they have decided to increase it to $25k and extend it to 30 June 2020.
Once in place, any small business asset purchased from 29 January 2019 to 30 June 2020 will be eligible for the instant write-off.
“Businesses can go out and invest today, whether it’s a vehicle, a piece of plant or equipment, all of it, up to $25,000, immediate write-down,” Morrison said in his first economic speech of 2019.
Even though the Bill has only just been presented and read for a first time.
Picture: Xero Pty Ltd
Xero is offering 50% OFF
for 3 months!
Get 50% off for three months on new subscriptions to Xero Business Edition plans.
Be quick, this offer expires 31 March 2019.
Call us now for details on how to access this offer.
**T&Cs apply
For more Information on any of the above please do not hesitate to contact us on 0444 587 616.
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