Single Touch Payroll starts 1 July 2019

Single Touch Payroll (STP) compulsory for all businesses from 1 July 2019

How will this change affect your business? 

Single Touch PayrollWe've got you covered with all the top questions on STP answered.

What is Single Touch Payroll?
Single Touch Payroll, also called STP or one touch payroll, is an ATO initiative that requires employers to report salaries and wages, PAYG withholding and superannuation to the ATO each time they pay their employees.

Why is STP being introduced?
Legislation made it compulsory for businesses with 20 or more employees to digitally report payroll details to the ATO. However, following an amendment, it is now mandatory for all employers in Australia to adopt a compliant payroll solution, which are often software-based, from 1 July 2019.  Read more…

Contaminated land and property transactions

What lies beneath - contamination in the Northern Rivers

This article has been written by Hailey Spry of Easterly Point Environmental. Hailey is a senior environmental scientist who specialises in the assessment and management of contaminated sites.

contaminationContaminated land is usually thought to be associated with heavy industry such as gasworks, refineries, power stations, and the like. While this is justified stereotyping, the ubiquitous and pervasive nature of contaminants means that any piece of land has a potential to be "contaminated". After all, contamination just means something you don't want, or more formally; the presence of a substance above the concentration at which it is normally present, with an associated risk of harm to human health or the environment.

Read more…

Single Touch Payroll from 1 July

Single touch payroll extended to all employers

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. 

roger tsengWhat employers need to report will also be extended to include certain salary sacrificed amounts. 

Employers with 20 or more employees have been required to use single touch payroll since 1 July 2018. The new rules push all businesses with employees into the single touch payroll system. This includes the situation where payments are made to the owners of the business in the form of salary, wages or directors fees.

The ATO has asked software providers to provide new low-cost payroll options for micro employers (1-4 employees). MYOB and Xero have announced new $10 per month offerings (limited to 4 employees) with other software houses following suit.

Read more…

STP for under 20 employees

Under 20 employees? What you need to do.

1 July 2019 is not that far away. If your business does not already use STP compliant software, you may need to upgrade your systems or implement new ones.

payroll wagesSTP requires PAYG withholding and superannuation contribution details to be reported to the ATO as payments are made to employees or superannuation funds.

When it comes to PAYG withholding, employers will report details of salary and wages paid to employees as well as the PAYG withholding amount at the time the payment is made to the employee. Employers have the option of paying the PAYG withholding liability at the same time, although this is not compulsory.

Read more…

Environmental consultancy case study

Easterly Point Environmental

Easterly Point Environmental is a specialist consultancy firm experienced in providing a range of environmental services to clients in the private and public sectors including assessment and management of contaminated land; contaminated land auditing, and radiation surveys and assessments.

Easterly Point EnvironmentalBased in the Northern Rivers, business owner and principal Marc Salmon is a contaminated land auditor in New South Wales and Queensland, a CEnvP site contamination specialists, and a member of the Australasian Radiation Protection Society, and was EIANZ's 2017 Environmental Practitioner of the Year. 

Marc has been working with Peter Fowler for over a decade. "Since becoming self-employed in 1998, I have worked with a number of accountants, but Peter is the first who has taken the role from 'tax advisor' to 'business advisor and strategist'. I consistently recommend people in small business/start-ups to call Peter".  Read more…