Single Touch Payroll (STP) 2 is coming
What do you need to do?
Nothing right now, your accounting software will do most of the work in the background – Xero has an extension to December 2022, so there is plenty of time to transition.
Sit Tight Please (STP).
To qualify for a tax deduction in the 2022 financial year, or if you are managing your super cap, super contributions must be received (by fund) by 30th June.
Payments need to be authorised before 14th June to meet the deadline.
The usual final deadline of 28th July still applies if you decide not to pay early.
If you are trying to make the most of super caps – you need to be aware of what a valid salary sacrifice looks like.
Working from home is now kinda normal, but as an employer what do you need to be aware of?
What are you responsible for? How do you protect your team? What support or equipment might they need?
Your responsibilities to protect your team still apply, even if you can’t see them.
See what Safe Work Australia says you need to be aware of.
Don’t forget to record when your staff take annual or sick leave to make sure leave balances are up to date.
Need help to make sure your records are correct? Ask an expert to help.
January-March super contributions must be received (by fund) by 28th April.
Payments should be authorised right now (Xero recommends by 2pm today) as it can take several days to process and there are a bunch of public holidays coming up.
Easter public holidays vary by state.
Not sure? Ask for help to make sure you get it right.
January-March super contributions must be received (by fund) by 28th April.
Severe penalties will apply for late payments.
The end of the Fringe Benefits Tax financial year is next Thursday 31st March.
If you use a company car, it is a good idea to note your odometer reading on this day in case your accountant needs it for your FBT return.
We are now using a program called Tanda for easy and paperless employee onboarding.
Our main concern is TFN confidentiality. It is not best practice to send confidential details by email – we don’t want their identity to be compromised if any part of the email chain gets hacked.
For your next hire just send us their email and phone number – easy as that!
Have you checked your eligibility for:
2022 Small Business Support Program
Applications close on 31st March 2022
Small Business Fees And Charges Rebate
The rebate will be available until 30 June 2022.
