Staff – Page 20 – Streamline Management

Fashion Day in your family business

Do several members of your family have the same taste in work clothes because you work together in a family business?

From 1st July 2021 the exemption for businesses to regularly report wages for closely held employees (owners/directors/shareholders & their family members) is being removed.
Single Touch Payroll (STP) reporting for closely held employees must be at least quarterly, declaring a wage as at 30th June each year will no longer be acceptable.

09/07/2021

Streamline Management Super increases to 10% of wages

Employee Super has increased to 10%

Don’t forget superannuation paid on behalf of all employees (including owners/directors) has increased to 10% for wages paid (bank transfer) on or after 1st July 2021 (based on payment date not period worked).
Annual concessional super contribution caps have increased to $27,500 for the 2021/22 financial year.

06/07/2021

I Forgot Day

I forgot is not something you want to be saying often about compliance deadlines!

02/07/2021

2021 STP finalisation – Deadline extended

Remember how Group Certificates / Payment Summaries have been phased out and Single Touch Payroll (STP) has taken over?
Its now time to reconcile your payroll accounts and finalise income statements for your employees. You have until 31st July 2021.

02/07/2021

June 2021 quarter super is due soon

Have we mentioned super lately??
Any remaining unpaid April-June super contributions must be received (by fund) by 28th July. If you paid everything early, scroll on!
Penalties will apply for late payments.

01/07/2021

Group certificates for staff

Shortly your staff may ask you for a Group Certificate/Payment Summary. Staff will not be receiving any documentation from you, Group Certificates have been replaced by Income Statements under the STP system. An annual ‘STP Finalisation’ to the ATO by 14th July. Staff will be able to access details in their MyGov account. Personal tax

28/06/2021

2021 Increase to minimum wages

Following the Annual Wage Review 2021, the Fair Work Commission (FWC) has announced a 2.5% increase to the national minimum wage.
The increase applies to anyone who is paid minimum award wages or the national minimum wage.
The award increase will happen in 3 stages.
Most awards will increase from 1 July 2021.

18/06/2021

Single Touch Payroll mandatory for ALL employess

From 1st July all employers will need to report wage details (gross wages, PAYG withholding and super) for ALL employees using Single Touch Payroll (STP) enabled software.
Reporting exemptions for closely held employees (owners and their families) will expire on 30th June 2021.
STP reporting removes the need to create group certificates or payment summaries – data is reported to the ATO throughout the year and employees can view it at anytime in their MyGov account.

10/06/2021

EOFY Review wages

If you’ve tipped over the payroll tax threshold this year, you’ll need to register and make payments.

Check the rules in each state you operate in, certain contractor payments may be included in wage calculations.

Be aware of entity grouping.

07/06/2021

Super is increasing from 1st July 2021

Superannuation paid on behalf of employees (including owners/directors) will increase to 10% for all wages paid (bank transfer) on or after 1st July 2021.

31/05/2021

Category: Staff