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.
June 2023 BAS
It’s time to start preparing your June BAS
Using our BAS agent extension – the payment due date is 25th August.
Late lodgement will void any payment plan you have in place with the ATO and you also risk being fined.
Small Business Skills and Training Boost
This brand new piece of legislation has been back dated, you can claim an extra deduction for expenses in the last 15 months and the next 12 months.
2023 STP finalisation (Group Certificates)
It’s time to reconcile wages and submit STP finalisations to the ATO on behalf of your employees. You need to make the lodgement on or before 14th July.
Happy Birthday to us!
We’re celebrating our 26th birthday!
Happy Birthday to us!
That’s a heck of a long time supporting small businesses. Lets take a stroll down memory lane.
Employment costs go up
There are alot of changes taking effect from 1st July 2023, we’ve prepared an overview for you.
Super goes up on all wage payments made to staff on or after 1st July.
Minimum wages are rising for the first Full pay period from 1st July.
Paid Parental Leave is changing too.
Top 5 apps for trades
Here’s a summary of our Top 5 apps for trades
We’ve partnered with these apps, we reckon they are ace.
Ask us for a personalised demo if you’d like to know more.
Instant Asset Write Off 2023
The Instant Asset Write-Off will replace Temporary Full Expensing on 1st July 2023.
ATO says: Small businesses will be able to immediately deduct the full cost of eligible assets costing less than $20,000 that are first used or installed ready for use between 1 July 2023 and 30 June 2024.
Ask your tax agent to explain how to apply the rules to your situation, they are the only people who can legally advise you about tax deductions. And speak to them before you commit yourself and your business to large expenses.
Small Business Technology Investment Boost
This retrospective legislation finishes this week.
However, you can claim expenses you’ve already paid in running your business.
What does the ATO mean by ‘technology’? its pretty broad.
Group certificates and STP finalisation for staff 2023
Its June, so no doubt your staff are asking you about their group certificates (now called STP finalisation).
No so fast! Calm your farm!
Reconciliations need to be completed to make sure all payroll info is correct before submitting anything to the ATO.
You do not provide any documents to staff, everything is online.
XeroMe for data security
We’re seeing reports of scam emails with fake payslips for employees.
The easiest way to prevent employees clicking on hoax emails (and scammers getting access to your system), is not to send payslips by email.
XeroMe is available, for free, for all employees. They can access payslips, submit leave requests and check annual leave balances, and submit timesheets (if you use them).
Ask us to get you and your team setup.
