As we approach 30 June, we thought it was timely to give our clients a refresher on some common EOFY tax planning tips, and also point out the key changes for the 2019 tax year that may impact you and/or your business. If you have any questions at all regarding any of the below as you prepare for 30 June,...
Is my business making money? Will I have enough cash to pay expenses when they are due? Will I be able to grow my business and increase my salary this year? Like most small businesses, if you find yourself pondering the above questions, then the preparation of an annual business budget is essential. We believe that all businesses should...
To assist you in ensuring your business understands and meets it’s payroll tax obligations, this blog highlights some of the common errors and misunderstandings that are to be avoided. Contractors Contractors vs employees You must consider the full relationship when deciding if your contractor is really an employee. This includes the following factors: The degree of control that the business...
From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include specific salary sacrificed amounts. Employers with 20 or more employees have been required to use single touch payroll since...