Know Your Business
When it comes to paying your team, many business owners ask the same question:
“Should I do payroll myself or outsource it?”
The right choice depends on your time, confidence, and risk tolerance, especially with STP Phase 2 and ever-changing compliance rules.
Let’s break down the pros and cons of each approach.
[Read more…] about DIY Payroll or Outsource? What’s Best for Your Small Business
The ATO’s next major step in payroll reporting is here: Single Touch Payroll Phase 2 (STP2). While the name might sound like more of the same, there are some important differences every employer needs to understand.
Whether you run your own payroll or outsource it, here’s a quick overview of what’s changed, what it means for you, and how your software provider is handling the rollout.
[Read more…] about Single Touch Payroll Phase 2: What’s Changed and What to Do Now
Legislation was recently passed to extend Single Touch Payroll (STP) Reporting to smaller employers (those with 19 or fewer employees) from 1 July 2019. Recognising the short time to this start date the ATO have granted a grace period of 3 months for these businesses to comply – so STP reporting will be mandatory by 30 September 2019.
So what have the major accounting software players got to say about this?
[Read more…] about STP Reporting Now Extended to All Employers
As many of you may have heard already, the ATO is currently rolling out their Single Touch Payroll (STP) reporting system. All businesses will be required to report each payroll run to the Tax Office. Businesses with 20 employees or more are already on this system, and smaller businesses will need to be STP compliant by 1 July 2019.
[Read more…] about What’s This Thing Called Single Touch Payroll (STP)?
