Category: Key Dates for Business

Key Dates for Business – May & June 2020

Posted on May 25, 2020 by - Blog, Featured Articles, General, Income Tax & FBT, Key Dates for Business

Many lodgement and payment deadlines are looming for business including those relating to Activity Statements, superannuation, and more. 

MAY 2020 
12 May – 3rd Quater 2020 Activity Statements – due for lodgement and payment if lodging electronically 
21 May – April 2020 monthly Activity Statments – due for lodgement and payment 
21 May – 2020 FBT Annual Return – due for payment 
28 May – Due for lodgement and payment of the Superannuation Guarantee Charge Statement if yu failed to pay Superannuation Guarantee on time for the January-March quarter. Superannuation Guarantee charge is not deductible 

JUNE 2020 
21 June – May 2020 monthly Activity Sxtatments – due for lodgement and payment 
30 June – Superannuation Guarantee payments must be received by Superannuation funds by this date in order to be duducted in 2019/2020 
30 June – End of 2019/2020 financial year

SINGLE TOUCH PAYROLL

Posted on June 13, 2019 by - Blog, General, Key Dates for Business, Small Business, Superannuation

1 July Employers with less than 20 employees should start transition to Single Touch Payroll (STP)

Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO.

If you are using a solution that offers STP reporting, such as payroll or accounting software, you will send your employees’ tax and super information to the ATO each time you run your payroll and pay your employees.

The information is sent to the ATO either directly from your software, or through a third party – such as a sending service provider.

If you have a software provider, they can tell you more about the type of STP solution they offer. For a list of available STP solutions visit the https://api.gov.au/productregister/

There will also be a number of options available for employers who do not use payroll software, such as http://No-cost and low-cost Single Touch Payroll solutions.

Options will depend on your number of employees:

  • Large employers with 20 or more employees should now be reporting through STP, or have applied to the ATO for a later start date.
  • Small employers with 19 or less employees will need to report through STP from 1 July 2019. This is a gradual transition, and the ATO is providing flexible options.
    • If you’re an employer with four or less employees you will have additional options.