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.
October IAS is due soon
It sure comes around quick, doesn’t it?
Put some money aside – its due on Monday 22nd November.
Don’t get fined for late lodgement!
(you will be able to make a payment arrangement with the ATO after lodgement if you are having cashflow issues)
Super for September quarter due!
Have you paid super for your employees for the September quarter?
Make sure you’ve updated super rates to 10% for all employees.
This also the first quarter of new rules for closely held employees (owners and their families), annual wages are no longer acceptable, they need to have wages declared each quarter and super will be payable.
The super needs to be in your employees account by 28th October – tomorrow! If you haven’t already paid you’ll probably miss the deadline. It takes longer than you think for clearing houses to process the payment and distribute to each employee. And you are on the hook for that delay.
Face to face ABN Coffee Club
We are hosting our Face to Face Australian Bookkeepers Network ABN Coffee Club next Monday 1st November for bookkeepers in the Chatswood area
in person!
with people!
come join us!
JobSaver fortnight ending 24th October
Service NSW is telling us you absolutely, totally, really will need to confirm eligibility to receive your next payment for the fortnight ending 24th October – which will be paid at 30% of wages (down from 40%) minimum payment will be $1,125.
To receive your next payment, you’ll need to login and confirm details on or after 25th October.
Make sure you have reconciled ALL of your deposits before you complete testing.
Stapled Super for Employees
Oh yay! More red tape for small business!
From 1st November 2021, stapled super kicks in.
Super funds will be stapled to employees as they move from job to job, so if they don’t complete a superchoice form, you’ll need to check for fund details with the ATO, rather than just add the new employee to your default fund.
JobSaver & Micro Business Grant last chance
Last chance to apply for either JobSaver or Micro Business Grant.
Applications close at midnight tonight 18th October
September quarter super is due now
Super is due now for staff (including owners and their families)
July-Sept super contributions must be received (by fund) by 28th October.
Don’t forget to check that all super has been accrued at 10%.
Authorise payments right now as it can take several days to process.
Crime Prevention Month
Its crucial to look out for banking/invoice scams in the small business world.
Email hacking where invoices are intercepted and bank details are changed are becoming more common.
Small Business Fees and Charges Rebate update
Update to Service NSW Small business fees and charges rebate announced – tolls to be added to the list of 500+ state and local government charges and fees that can be claimed, the cap will be raised from $1500 to $2000.
JobSaver Reconfirming Eligibility
*Edit: you may have received an email over the weekend saying your 2021 COVID-19 JobSaver payment has been initiated.
We have no idea what they are doing. Either they forgot to cancel the scheduled email or they have decided to pay you anyway. Let us know if you received funds into your bank account!
Businesses receiving JobSaver support will need to reconfirm eligibility fortnightly and payment should be received within a week of confirmation.
You do not need to submit details, however you need to keep records on file in case of audit. Make sure you have reconciled all of your deposits before you complete testing.
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