‘Cash in hand’ payments to workers no longer tax deductible The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible. ‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go (‘PAYG’) withholding obligations. Payments […]
Single Touch Payroll Update Employers with 19 or fewer employees are required to start reporting through Single Touch Payroll (‘STP’) from 1 July 2019. The ATO will be working with employers to support them as they transition to STP, including allowing small employers to start reporting any time from 1 July to 30 September (and […]
Federal Election Called! Federal Election has been called for Saturday 18 May 2019, and the Governor-General has ‘prorouged’ the Parliament from 11 April, until May 2019, and dissolved the House of Representatives. The election will also be for half the Senate. As a result, all outstanding Bills have also lapsed (so any measures not yet […]
Many of our business clients like to renew their tax position at the end of the income year and evaluate any year-end strategies that may be available to legitimately reduce their tax. Traditionally, year-end tax planning for small businesses is based around two simple concepts-ie. accelerating business deductions and deferring income. However, Small Business Entities […]
