July 2019 Newsletter

July 2019


‘Cash in hand’ payments to workers no longer tax deductible

The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible.

‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go ('PAYG') withholding obligations.

June 2019 Newsletter

Single Touch Payroll Update

Employers with 19 or fewer employees are required to start reporting through Single Touch Payroll (‘STP’) from 1 July 2019.

The ATO will be working with employers to support them as they transition to STP, including allowing small employers to start reporting any time from 1 July to 30 September (and the ATO will also be "generous" in granting deferrals to small employers who need more time to start STP reporting).

March 2019 Newsletter

Changes to the small business instant asset write-off

Tax scammer alert

Non-compliant payments to workers

What’s new for Australian business

April 2018 Newsletter

New superannuation rates and thresholds released 

$20,000 Small Business Write Off

The write-off threshold of $20,000 will cease on 3rd June 2018.

If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your tax return. 

The $20,000 threshold applied from 12th May 2015 and will reduce to $1000 from 1st July 2018.

What Your Business Needs to Know About Single Touch Payroll

From 1st July 2018, Australian businesses with more than 20 employees on the payroll will be required to use Single Touch Payroll.

Contact us for more information.