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Snapshot of the ALP Key Tax Policies

Lodgement rates and thresholds guide

Single Touch Payroll

Single Touch Payroll (STP) is changing the way employers report their tax and super information to the ATO.  If you have payroll software, all you'll need to do is update it once it has been 'single touch payroll' enabled.

You will then begin reporting the following:

  • payments to employees such as salary and wages
  • pay as you go (PAYG) withholding
  • super information

The way you pay your employees won't change however you must send the ATO the information at the same time as you pay your employees.  STP has already started and will be mandatory for all employers from 1 July 2019.

November 2019

  • Lost or destroyed tax records?  Don't panic.
  • Super downsizer scheme: common errors.
  • An SMSF trustee duty not to be forgotten:  The investment strategy.
  • Small business:  Low-cost assets and the threshold rule.
  • Three wise FBT tips for Christmas.

October 2019

  • CGT when spouses have different main residences.
  • The SMSF sector is growing by $23,200 every minute.
  • Fictions (and facts) about work expense deductions.
  • An FBT reporting exclusion for personal security concerns.
  • SMSF event-based reporting: What needs to be reported, what doesn't.

September 2019

  • Property development and tax.
  • Tax and the kids' savings.
  • CGT exemption on inherited homes.
  • SMSF trustees: Operating expenses you can deduct.
  • Rental property owners:  Top 10 tips to avoid common mistakes.

August 2019

  • Tax when you're headed overseas.
  • What you need to know about trust distribution resolutions.
  • Keeping busy: but is it just a hobby, or are you in business?
  • Small businesses need to get "active" to pay less tax.
  • The small business income tax offset.

As always, please feel free to give us a call on (07) 54391600 to have a chat.

 

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