Prepare for Finalising Single Touch Payroll
If you have been reporting Single Touch Payroll (STP) to the ATO this financial year, you will need to make a finalisation declaration. There is no need to issue payment summaries to employees you have reported through STP. Large employers (with more than 20 employees) must complete the finalisation declaration by 14 July. Small employers (with 19 or fewer employees) have until 31 July to complete the finalisation. You may have some closely held payees who have not been repor
Lessons learned in lockdown – for your business and life
Lockdown has been (and remains) a tough time for business. Having to shut your business at short notice, or switch to an entirely digital, remote-working model, was a stressful experience. But there are things we have taken out of lockdown. Whether it enabled us to explore new ideas or dive into some fresh thinking regarding work, life or a business venture. So, what lessons did we all learn from this enforced period of business shutdown, quarantine and remote working? Carryi
Claiming deductions for working from home to be made easier
The ATO are announcing a 'working from home shortcut' measure for people to claim running expenses, now they are working from home due to Covid-19 restrictions. The new measure will allow people to claim a set rate of 80 cents per hour working at home. This provides a more straightforward system for people, without the need to calculate specific running expenses or to have a dedicated ‘work from home area’. The measure will apply to work after March 1. Claims for expenses inc
