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Touch Payroll (STP)
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‘Calm before the storm’: Government proposes 12-month SG amnesty
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Government intensifies cash payments crackdown - Kelly O'Dwyer
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Passive investment companies tax rate still 30%
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Australia by numbers – Update
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No GST on digital currency
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Federal Budget 2018 - Overview
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Your Budget
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4 components of our 2018 Federal Budget
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New rules capture SMSFs trading big with cryptocurrency
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Tools to help you manage your financial position are available on our site.
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Australia by numbers – Update
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Meaningful tax reform in high demand
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Single Touch Payroll – 1 April 2018 Action
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FBT Reminder – Odometer Reading
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Our website is really our digital office.
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‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Article archive
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Quarter 3 of, 2015 archive
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Individual Tax Returns – Medical Expenses 2015
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Resources on our site to help you and your family.
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Retirement Planning becoming more difficult
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Salary and Superannuation after the death of an employee
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Ambiguity in Shareholder Agreements - what you need to know
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Five reasons the RBA will likely cut rates again
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Consistency between Income Tax and Business Activity Statements (BAS)
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Tax Time Checklist - Individual - 2015
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Tax Time Checklist - Company Trust or Partnerships - 2015
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Tax Time Checklist - Superannuation Funds - 2015
Touch Payroll (STP)

Extensive STP resources can be found in a related article in last month's edition below.

       

 

There are some minor benefits to an employer, from reporting to the Australian Taxation Office (ATO) employee details with every pay.

An employer that has met its STP reporting obligations for an income year will not need to comply with the following obligations:-

  • Notification of withholding amounts
     
  • Annual payment summaries
     
  • Payment summaries for payments for termination of employment
     
  • Annual reports to the Commissioner
     
  • Part-year payment summaries

The ATO will be able to make the information currently recorded on an annual payment summary progressively available throughout the income year to employees on ATO Online.

The ATO will use the information collected through STP reporting to pre-fill employees’ income tax returns.

 

 

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