Streamline Management News
* This is generic info to give you a few pointers and should never be relied on as specific accounting advice.
Contact your expert (not your mates at a BBQ or the guy trying to sell you something) to discuss your situation.
Work From Home Day
Working from home in some way, shape or form is normal/expected/happening, and this carries risks for employers.
What are you responsible for? How do you protect your team?
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.
It’s time to start preparing your March BAS
Using our BAS agent extension – the due date is 25th May.
If we haven’t received all data required by 30th April, we cannot guarantee your BAS will be lodged on time.
Late lodgement will void our annual authority to file STP, any payment plan you have in place with the ATO and you also risk being fined.
act now!
March quarter super
Put your undies on over your clothes and get super sorted for your team!
There are a heck of a lot of public holidays this month and that will make it harder to meet the deadline for payment – authorise super for your team now or you could be personally liable for the debt and penalties (and lose the tax deduction for the payment).
Don’t forget that some contractors and employee directors will be entitled to superannuation and the same deadlines apply.
April 2025
Mark your diary – there are a couple of key dates around all of those public holidays!
Fringe Benefits Tax year end is today
Today is the end of the Fringe Benefits Tax year – take an odometer reading for your company car.
Tomorrow is April Fools Day – its probably just a coincidence?
The Fringe Benefits Tax year comes to an end on 31st March 2025
Are you aware what might trigger this extra tax for your business and just how costly it could be?
ATO says:
Fringe benefits tax (FBT) is a tax paid by employers on certain benefits provided to their employees, or to their employees’ family or other associates.
The employer pays FBT. This is equivalent to the gross income your employees would have to earn, at the highest marginal tax rate (including the Medicare levy), to buy the benefits themselves.
FBT can be quite costly, those employee perks might cost you a lot more than you anticipated or budgeted for!
Landline Day
Are you upgrading to a new phone?
If you’re planning to upgrade to a new phone,
as us to give you a hand to move your authenticator app,
BEFORE your lock yourself out of Xero.
Employee Appreciation Day
Its heartwarming to be appreciated – but rewarding your team could cost you so much more than you anticipate!
Before purchasing gifts to show appreciation – check the Fringe Benefits Tax implications of your intentions.
ReceiptBank/Dext New Features New Price
Have you seen all the new releases from ReceiptBank/Dext?
All of this comes with the best search tool in the game to find those outrageous bargains/bills again.
March 2025
There are a handful of important dates in March.
A crucial date is the FBT year end – if you don’t know what FBT is, its time to speak to your accountant to ensure you don’t get caught out with the Fun Business Tax.
