Additional information to report as part of Single Touch Payroll (STP) Phase 2 will include:
amounts paid to staff — instead of reporting a single gross amount, you’ll separately show items such as overtime, paid leave, and […]
There are some mistakes being made with the move to STP Phase 2 reporting.
We’re sharing the most common errors so employers can avoid making them:
Re-mapping […]
Key dates in June
30 […]
You need to start reporting additional information on or before each pay day — this is known as STP Phase 2.
STP Phase 2 started on 1 January 2022
Some […]
The Government has announced a once-off $420 ‘cost of living tax offset’ for the 2022 income year, which will be provided in the form of an increase to the existing LMITO. This will increase the maximum LMITO benefit to $1,500 […]
In the changing commercial landscape, delaying indepth business reviews until the end of […]
The importance of accurate, ethical financial reporting can’t be underestimated.
Business Australia recently reiterated this fact in their article Accurate Financial Reporting: 12 Must-Dos, highlighting why good financial reporting is critical to your business for a range of […]
If you employ staff, you’ll need to be ready for this change.
New guidelines that explain the changes are now available to help.
STP Phase 2 reporting means changes to the way you report:
amounts paid […]
Most succeeded and, in the process, reinvented their business to suit the ‘new order’.
Some reduced the range of activities or down-sized in anticipation of better days. Others preserved cash by reducing external spending, cutting dividends, closing temporarily and […]
The ATO estimates that around 280,000 businesses need to lodge […]