I have pleasure of writing this post as I am a member of the ATO’s Single Touch Payroll Readiness Working Group and I am quite passionate about Single Touch Payroll and the benefits it will bring to businesses and their accountants. Single Touch Payroll (STP) is set to change the way just over 100,000 employers report […]
The mere mention of the word Business Activity Statement (BAS) is enough to make many business owners break out in a sweat. Even more stressful than that, is having to come up with the cash to pay the BAS! The stress associated with BAS time can be more easily managed when you fully understand what […]
Your super contributions for the quarter (1 January – 31 March 2016) need to be RECEIVED by your employees’ super funds by 28 April 2016 which is the ATO cut-off date. Please allow enough time for payments to be received by your employees’ super funds.
You have probably heard the famous saying, “Turnover is Vanity, Profit is Sanity, Cash is King.” I want you to think for a moment about each of these very important aspects of your business. How is your turnover going? How is your profit going? How is your cashflow going? Are you monitoring these things […]
Reviewing the superannuation account and the PAYG Payable account works in much the same way as your bank accounts and credit card accounts with one exception and that is that the ‘new statement balance’ will always be $0.00. If your payroll has been setup correctly, the super guarantee contribution (SGC) and PAYG Payable will accrue […]