Podcasts about single touch payroll

Welcome to Episode 181 of The Numbers Game. Tax time is approaching, and Jase is here to guide you through what you need to know. From understanding payroll tax thresholds, the rise in work cover premiums, and timely superannuation payments to avoid penalties, to understanding the changes to HELP debt, we've got you covered.On this episode, we discuss:Class Action Against the Victorian GovernmentTax and Business Compliance for Small Business OwnersPayroll Tax InsightsWork Cover Premium RisesSuperannuation Compliance and PenaltiesTax Planning for Small Business OwnersFamily Trusts and Capital Gains TaxSmall Business CGT ConcessionsSuperannuation Contributions and Tax SavingsHelp Debt Repayments and Family WealthImmediate Asset Write-Offs and DepreciationCheck out the free resources from Inovayt here.Send us an email: hello@thenumbersgamepodcast.com.auThe Numbers Game is brought to you by Future Advisory & Inovayt.Hosts:Nick ReillyJason RobinsonMartin VidakovicThis podcast is produced by VIDPOD.

Small Biz Matters: People, Policy, Purpose ~ Episode #219 Broadcast date: 16th January 2024 Host: Alexi Boyd, Small Business Advocate & Policy Advisor Guest: John Shepherd PSM, First Assistant Secretary, Digital Identity Taskforce, Dept Finance You don't have to be a Fintech or a tech company to work with data as a small business owner. We work on a daily basis with business data, integrated personal information and the data held on behalf of our customers. For most, it's just contact information in a CRM but small businesses are becoming increasingly aware that even the simplest data is personal, it can be sensitive and should be protected. Digital Identity is coming and will transform the way a lot of small businesses deal with the data for which we are responsible. It sounds like another Government process which will create more red tape. Well, John Shepherd PSM's role is to make this economy wide transition as seamless as possible. Luckily he has plenty of experience dealing with small business having previously been in charge of Single Touch Payroll rollout and understands the importance of integrating such a change into small business' natural processes. PEOPLE - This new legislation will have direct impact on how small businesses operate with their data and accompanying responsibilities.  Can you give us an overview of what they can expect? POLICY - Where are we in the legislation cycle for Digital Identity? When will these changes take affect? With whom did you consult from the small business community? PURPOSE - What's the purpose of this legislation, what problem is it trying to solve? Is it going to make the landscape fairer for small businesses? What does it mean for the data processes we have in place now? John Shepherd PSM has held a range of senior positions in the Commonwealth Public Service and has more than 20 years' experience leading successful large scale transformation programs. John is the First Assistant Secretary, Digital ID and Data Policy Division within the Department of Finance. The Division includes the Digital ID Taskforce, which is leading work to develop a comprehensive, economy-wide system for digital ID, including the introduction of legislation and rules and establishment of a regulator. The Division is also responsible for whole of government public sector data policy, cross jurisdictional data and digital ministerial engagement, and assurance of the Australian Government's high-cost and high-risk projects and programs. John held a number of senior roles at the ABS and ATO, leading significant change programs and projects focused on improving the client experience including leading the implementation of Single Touch Payroll. For this he was awarded a Public Service Medal (PSM) in the 2022 Australia Day Honours list.

As we come to the end of the financial year in Australia, it's crucial for businesses to be across the various tasks involved when it comes to reporting their numbers. Today, we'll be exploring the fundamentals of Single Touch Payroll, and why it is essential for business owners to understand how it works. In the past, group certificates or payment summaries provided a breakdown of income and were relied upon for determining taxable incomes and assessing tax deductions. However, the government's introduction of the Single Touch Payroll (STP) initiative has replaced this process and is now the mandatory system for reporting to the Australian Taxation Office.So what exactly is STP, and why has it been introduced? Being a system where data flows into relevant government departments (not just the ATO), Single Touch Payroll aims to reduce administrative burden, as well as help create transparency around monitoring whether people are being paid regularly or correctly. In this episode, I dive into STP and share with you the important details on:Understanding what exactly STP reports on;How STP can link to your payroll software;The requirements and deadlines for employers reporting through STP;How STP gives employees access to their own tax and super information;Who you can and can't delegate your payroll responsibilities to.No matter the size of your business or number of employees, Single Touch Payroll is now the only way to do your payroll reporting. I hope this episode provides you with clarity so that you can ensure you're complying with your duties and setting up processes that will serve you in the best possible way. LINKSConnect with Lisa Turner: Instagram:     @accountedforyouWebsite:         https://accountedforyou.com.au/ Join us in the Accounted For You Numbers Club on Facebook here Join my Numbers List for small business news and fun, helpful tips here Download the New Biz Checklist here Download the FREE P&L Generator here Check out my blog here!

Late payment of super has always been a problem but now with Single Touch Payroll, it has become a much bigger problem, especially the late payment of super for director wages.

Today on the podcast I provide an overview of what you need to know about Single Touch Payroll 2 (STP2). For business owners who have staff or are employees themselves, this is relevant for you. And STP2 is already here, so there are things that you need to know.I actually suspect that many employing business owners are living in blissful ignorance right now because they don't know what they don't know about STP2. Don't stress - this episode is here to help and runs throught the basics.First up, I explain what STP is, why you need to care about it and what it's replacing.I then run through the changes that STP2 will mean for reporting and the types of details that you are now required to report on. Depending on your business these changes may have no impact or, it may have a massive impact for the payslips that you're producing.I run through two practical examples of what this might look like and also explain the areas that should be simple and those that you may need to pay a little more attention to, depending on the nature of your business.Additionally, there are two methodologies that the Australian Taxation Office (ATO) is proposing for the changeover to STP2, so I explain the difference between those.This is a big change to the payroll reporting requirements in Australia and there is a lot of detail to take in. This episode will help you understand the basics so grab and pen and paper and tune in so that you stay on top of the changes!LINKS:Register your interest in the Bookkeeping it Real Mentoring Program here.Check out my course Bookkeeping it Real here!Where to Find Bec:Website:https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

In this week's episode, Jo and Jade will be discussing the following: - What have our hosts been up to? - Our Sponsor of the Month! - Some great recommendations from our team that you MUST check out -  Elon Musk's offer is put on hold! -  ATO Director Penalty Notices - scary stuff! -  Housing Affordability and Government Announcements -  More ATO Due Dates, ATO Letters and Crypto Crash -  The Table of Knowledge - The Second Wave of STP Check out our sponsor Tradie Pad here-www.tradiepad.com.au Links  (if links are not clickable please visit moneyhoneymedia.com.au ) - ATO on Single Touch Payroll Xero on Single Touch Payrolland MYOB on Single Touch Payroll Follow, share and support our podcast so we can get in the ears and help as many small family businesses around!  Until next week,  Jo & Jade - Co-Hosts Joel - Producer Lauren - Marketing/Sustainability Guru 

In this episode of Tax Yak, Nicole Rowan chats with Haydon Green, Director of Single Touch Payroll, Policy & Content at the Australian Taxation Office, about the implementation of STP Phase 2. Haydon is a director at the ATO and his extensive experience in tax administration and policy development has seen him involved in Single … Tax Yak – Episode 59 – STP Phase 2 Read More »

In this episode of the Tax inVoice podcast, hosts Julia Cook and David Jepsen are joined by Assistant Commissioner Jason Lucchese to explore Phase 2 of Single Touch Payroll (STP), what it means for employers and employees, key dates and how to prepare for the new changes. Links to information and resources mentioned in this episode can be found below: Working from home expenses - shortcut methodato.gov.au/homeato.gov.au/wfhStapled super fundsato.gov.au/stapledsuperfundDirector IDabrs.gov.au  ato.gov.au/directorIDSingle Touch Payroll Phase 2ato.gov.au/stp2ato.gov.au/stpresourcesmyGov and myGovIDato.gov.au/mygovwww.mygovid.gov.au/setupOther resourcesato.gov.au/supportato.gov.au/podcastlanguagesIf you would like to submit a question to be answered in a future episode of Tax inVoice, please send your question to podcast@ato.gov.au.

Welcome to Finance and Fury. This episode we’ll be talking about latest federal budget that was announced this week - and the implications this will have for individual There were many announcements in the budget – few good things like the reduced tax on innovated products – but we will be focusing on individuals Many of these announced changes haven’t passed legislation yet – but very likely they will – the budget for individuals focused on taxation, superannuation and housing Personal Income Tax cuts – not too much has changed here The Government continues its Personal Income Tax Plan with the announcement of a number of measures targeted towards low and middle-income earners – the changes to the tax rates is still expected to continue as planned The aim of this is to provide immediate relief to individuals and support economic recovery by boosting consumer spending Comes from the demand side of economics – allowing people additional income to spend more within the economy to boost GDP – as the majority of our GDP comes from consumer spending, allowing people to keep most of their own money can assist with GDP – but it does depend on how the money is spent Retaining the low- and middle-income tax offset for another year The low and middle income tax offset (LMITO) was a temporary measure introduced – but this has been extended for a further financial year to the 2021-22 income year. The LMITO provides a reduction in tax of up to $1,080 for those earning less than $90,000 and will be received on assessment after individuals lodge their tax return- basically it means you get an extra $1,080 back at tax time – it starts to reduce once you exceed the threshold – but it is still more money in you pockets It is estimated that more than 10 million low and middle-income earners are expected to benefit from the extended tax cut Save the Australian population $7.8 billion in tax - the government expects the extra cash will flow towards businesses, encouraging more employment or investment – boosting GDP by around $4.5 billion in 2022-23 Right away here there is something that stands out – that they don’t expect all of these funds to be actually spent – consider the concept of the multiplier effect – where $1 within the economy should lead to more in an increase in GDP – granted that this can take more than a year to potentially materialise – but 42% is expected to be retained by individuals Self-education expense deductions The Government will also remove the exclusion for the first $250 deduction for prescribed courses of education. The first $250 of expenses relating to prescribed course education is currently not deductible. The measure aims to reduce compliance costs for individuals claiming self-education expenses. This is another minor change – but at least if you are taking a course to further your income capacity in your current job you can claim the full amount of your education costs Superannuation – Superannuation guarantee increase – this isn’t specifically a part of this budget as it was meant to occur a number of years ago – but the increase in SG is occurring from 1 July to 10% The superannuation guarantee refers to the minimum percentage of earnings an employer needs to pay into their employee’s superannuation fund. The superannuation guarantee is currently 9.5%, but will increase on 1 July 2021 to 10% Can provide an additional boost to individuals superannuation – but might have some unintended consequences An individual’s superannuation balance is expected to benefit all things being equal – i.e. same wage levels and wage growth – but SG is based around wages Most employers look at total package – what will it cost to employ someone– wages plus SG and any other benefits – Wages of $80k used to have $7,600 of SG on them – total package of $87,600 Now an employer either needs to find an additional $400 per employee or reduce any wage rises by $400 – as the new SG is $8k – this doesn’t sound like a great amount in the grand scheme of things – and that is correct – but an employer with 1,000 employees now need to find an additional $400k for this – and this is just the first of the planned increases – meant to increase to 12% - or for someone on $80k this is $9,600 or an extra $2k p.a. This equates to $200k for a medium employer with 100 employees, or $2m for a larger company with 1,000 employees there are pros and cons to this Pros are that at least people are forced to have savings for retirement Examples – someone starting off their career with $50k income – works for 30 years and gets wage growth of 3.5% p.a. on average – assuming super gets 8% return p.a. 5% - $827k in super 12% - $1.044m in super or $217k more The CC cap will be increased as well to $27,500 – this is another change that was already on the cards – but is coming into effect 1 July – the CC cap will increase by $2,500 This means that people can salary sacrifice an additional amount each financial year This is a benefit – allows people more room to SS more into superannuation – this is good as the changes over the years have been to reduce the CC cap – even though over time with the devaluation of the dollar and inflationary pressures, it should have been going up initially this was an unlimited cap – then $150k, then $50k when I started in the industry, then got brought down to $25k. Superannuation Guarantee Eligibility Threshold removed The Government is proposing to remove the $450 per month minimum income threshold which determines whether employees have to be paid the superannuation guarantee by their employer. Currently, where employees are paid $450 or more (before tax) in a calendar month, superannuation guarantee is payable on those wages. This threshold was introduced to prevent the administrative burden of facilitating the superannuation guarantee for employers with employees in casual employment arrangements.    This proposed measure will ensure lower income earners are not missing out on the benefit of having superannuation accrue for their retirement. In particular, an estimated 300,000 individuals would currently be eligible to receive these additional superannuation guarantee payments So the minimum monthly income threshold of $450 before super guarantee contributions are payable by employers will be abolished - given SuperStream and Single Touch Payroll exist, the admin burden has been lessened slightly – but one thing to watch out for if you are a casual worker is to make sure you track your super payments – make sure you have the one fund First Home Super Saver Scheme (FHSSS) changes aimed to increase uptake In the latest change to the scheme, the maximum releasable amount of voluntary concessional and non-concessional contributions has been increased from $30,000 to $50,000. Voluntary contributions made from 1 July 2017 up to the existing limit of $15,000 per annum will apply towards the total amount able to be released. This increase will apply from the start of the first financial year after Royal Assent, expected to occur by 1 July 2022. The increased cap will ensure the FHSSS continues to help first home buyers raising a deposit more quickly, primarily through the special tax treatment of super and associated investment earnings. Self Managed Superannuation Funds (SMSFs) & residency SMSFs have long been disadvantaged from a tax perspective where SMSF members are absent from Australia for extended periods of time. In this budget the Government proposes to relax the rules such that the SMSF and members now only need to meet two rules to be eligible for concessional tax treatment: The fund must be established in Australia or hold an asset in Australia The members cannot be temporarily absent from Australia for more than five years. Other changes that affect older Australians The Work Test has been proposed to be abolished - From 1 July 2022 Australians will no longer need to meet the work test to be eligible to make non-concessional superannuation contributions and receive salary sacrifice contributions after reaching preservation age The old rules were that anyone over the age of 65 would need to meet a work test to contribute to superannuation – make a non-concessional contribution or salary sacrifice contribution Individuals aged 67-74 years will still have to meet the work test to make personal deductible contributions The worst test is that you are working at least 40 hours in a 30 day consecutive period Downsizer contributions - From 1 July 2022, Australians over 60 years of age will be eligible to make downsizer contributions. Previously the downsizer contribution was limited to Australians over age 65. The other eligibility criteria for the downsizer contribution remain unchanged. Housing  The government has established a new Family Home Guarantee, which will be awarded to 10,000 families with single parents, allowing them to build a new home or purchase an existing home with a 2 per cent deposit The Family Home Guarantee is set to allow single parents to purchase a property with a deposit as low as 2%, with the government guaranteeing the remaining 18%. Applicants can either build a new home or purchase an existing home. Usually, home buyers would need to save up at least a 20% deposit, or take out lenders mortgage insurance (LMI) which can leave them thousands of dollars out of pocket. The Family Home Guarantee is limited to 10,000 places. However, this will be spread out over four financial years – which equates to 2,500 spots per year - The Federal Government says about 125,000 single parents will be eligible for the scheme. That means only 8% of eligible families would benefit from the measure over the four-year period – or 2% per year Eligibility for the Family Home Guarantee - Single parents with dependants who earn up to $125,000 per year - must also be Australian citizens and at least 18 years old. The scheme is open to first home buyers as well as those who have previously owned a home. The New Home Guarantee - An extra 10,000 places in the New Home Guarantee scheme will be added for 2021-22 This is similar to the family home guarantee – as the government guarantees the remaining 15% of the deposit value – so it can help to support first home buyers in building a new dwelling or to purchase a newly constructed The New Home Guarantee scheme helps first home owners build or purchase a new home with a deposit as low as 5 per cent. But that means existing properties are not eligible for the scheme, which limits the opportunities for prospective first home owners living and working in capital cities or built-up areas. With these measures as well as the FHSSS – can help people get into property But the thing to watch out for is that you are getting either a 98% loan or a 95% loan – In both cases the government is guaranteeing the remaining 18% and 15% level of funds that would be needed to make up the 20% deposit to avoid LMI – but I don’t believe that they are putting up the capital for you as a deposit – As an example – buying a $600k property – normally you need $120k as a deposit With the FHG – you need $12k – plus stamp duty (depending on if you are eligible to get any concessions on this depending on the state you live in) – But means you have a $588k loan So your repayments will be higher and you will still need to prove that you can afford your loan repayments with the bank With a 20% deposit at 2.8% = $1,972 p.m. in repayments, with 2% = $2,416 p.m. = extra $5,328 p.a. Other consideration is that if prices go down slightly, you would be left with more debt than property value – so you may be trapped in the property and cant sell unless you are willing to take the loss and come up with the funds to repay the bank HomeBuilder – 12-month extension of the HomeBuilder construction commencement period for existing applicants This was the $25k for new home construction or renovations above $150k – there has been massive delays in the building industry so the extension is in hopes that people where were expecting it won’t miss out Summary: Budget for individuals does have some small improvements for individuals Extension for income tax offsets Additional superannuation for employees Additional foothold in the door for property – but can come at some risks to be aware of Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/ 

The rollout of Single Touch Payroll seems like just yesterday, but we now have the second phase lurking on the horizon. In this episode of Accountants Daily Insider, host Jotham Lian is joined by the Institute of Certified Bookkeepers executive director, Matthew Addison, to explore everything related to STP Phase 2 to help prepare practitioners and their clients for the 1 January 2022 deadline. Matthew goes over why the change is happening, what advisers need to be doing now and key dates to remember. He also discusses the upcoming end of STP concessions for micro-employers and closely held payees, and explores the government’s mandate for e-invoicing.

How do you cut a government form down from 164 questions to 10 without losing the rigour?How can you leverage existing business information systems to take the hassle out of payroll and superannuation guarantees? These are just two of the innovations introduced by public servants this year to make Australians lives easier. The Public Sector Innovation Awards highlight public servants who rethink government services to make them easier to access and use. On this week’s episode, David Pembroke sits down with Helen Bailey, Manager of the Public Sector Innovation Network, and representatives from award-winners Services Australia and the Australian Tax Office to discover how large scale innovation projects were delivered. Ailsa Borwick, National Manager of Employment Income and Single Touch Payroll joins us to talk about simplifying JobKeeper forms on behalf of Services Australia. Jason Lucchese, Assistant Commissioner of the Superannuation and Employer Obligations of the Single Touch Payroll Programme joins on behalf of the Australian Tax Office.Discussed in this episode:· Identifying where to target innovation efforts · The importance of knowing your customer journey· What does user-centred design look like in practice?· The importance of team building to deliver major innovations · Connecting innovation with the priorities of your authorising environment See acast.com/privacy for privacy and opt-out information.

Up Yourself presented by Money Honey MediaUp Yourself - Episode 7 – Single Touch Payroll - STPUp Yourself is a short form podcast by Money Honey Media where our listeners can ask questions about all things tax, business or money and we will do our best to answer them.  In this episode recorded back in April, Nicole and Jo catch up to discuss Single Touch Payroll.  We would love everyone to join our Facebook Group Money Honey/ Tradie WAGS https://www.facebook.com/groups/moneyhoneyWAGS/Follow Jo McCauley on Instagram @tradiewagjoFollow Tradie WAGS on social media @TradieWAGS (both Facebook and Instagram)Connect with either of us on Linkedin – Nicole McCabe or Joanne McCauley Thank you to our sponsor Jigsaw Tax & Advisory https://www.jigsawtaxandadvisory.com.au/

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.with Alexi Boyd, broadcaster, advocate and small business owner.Date: 30 June 2020 You may have been distracted by a couple of international crisis’ in the past few months but here we are again; end of financial year! Hopefully 2020 will keep moving this quickly so we can get back to some semblance of normal small business life but in the meantime your requirements haven’t changed as a small business. Single Touch Payroll reporting, super obligations, BAS deadlines and wrapping up your end of financial year finances and still there, whether you’ve bounced back from this weird economy or not. One positive aspect of experiencing a slow down is we can all focus a little more on your admin and bookkeeping and what the EOFY requirements are from the ATO. Joining us today is Andrew Watson, the Assistant Commissioner in charge of Small Business Experience, Small Business, at the Australian Tax Office. He’s going to share with us what the ATO expects, supports and how they assist if you’re one of the many many businesses experiencing hardship. Welcome back to the show Andrew. Topics we’ll be covering: What should small businesses do to prepare for Tax time 2020? Record keeping and who’s responsible for this? Increase in digitising of document and record keeping - recording and reporting are getting faster Mention of e-invoicing How does e-commerce feed into this? Digitised businesses are more likely to keep on top of their obligations New developments in the business platform Typical errors we in EOFY processes inc - apportioning incorrectly business/private especially home office expenses How is this different due to covid. STP Finalisation - how is this different from the old payment summary for the first time Instant asset write-off timings - installed and ready to use rather than when it was ordered and paid for - beware of self assessment. The affect of the supply chain changes Give examples Shout out to bookkeepers & accountants for their help with bringing the legislation to small business What do small businesses need to know about the stimulus packages and EOFY? Coding the stimulus measures on your tax return - Jobkeeper / Cashflow boost credits / talk to your accountant about the state based payments What if a small business is impacted by multiple disasters (i.e. bushfires, COVID-19, and drought)? ATO relief and support thats available - deferments, PAYGI drop to NIL but bear in mind you can’t amend once the next quarter’s BAS is generated Switching from quarterly to monthly Debt relief If they’re not happy with the service then escalate, and of course So how do businesses access this assistance? Through the Business Portal? I’ve heard about myGovID changes. Do Businesses need to use myGOVID to access the Business Portal? Extension to availabilities of the ATO - giving 1800 number out, which is for tailored, specialised support and available indefinitely at the moment. Struggling with different issues like losing homes, losing records Changes to MyGovID system To find out more go to their website: www.ato.gov.au About our Speaker: Andrew Watson is an Assistant Commissioner for the Australian Taxation Office in the Small Business line. He is currently responsible for understanding how small businesses engage with the tax and super systems, collaborating with small businesses, industry groups and government agencies to shape the client experience and drive improved digital services. His area also helps small businesses manage cash-flow and digital readiness so sustainable and viable businesses can thrive, and advocates for small businesses within the ATO.

In this episode of Accountants Daily Insider, host Jotham Lian is joined by Matthew Addison, executive chair of the Institute of Certified Bookkeepers, to break down the latest developments on the JobKeeper front. Matthew explains some of the complications that have arisen around meeting JobKeeper deadlines, a new concession regarding enrolments for the months ahead, and an amendment that ensures employers are not subject to additional superannuation guarantee obligations by participating in the scheme. Matthew also shares his insight into concerns around cash-flow boost payments, the implications of Single Touch Payroll on this year's tax lodgements, and his tips for practitioners on getting through the coming weeks.

Perhaps at no point in Australia’s history has the demand for real-time figures been stronger than during the coronavirus crisis. The Australian Bureau of Statistics has stepped up its efforts to get data fast, to help inform the government’s COVID-19 decision-making. David Gruen, the Australian Statistician and ABS head, in this podcast tells how the bureau has used small, quick surveys to mine timely data from businesses and households. Some of the more interesting findings concern household stresses felt during the crisis. Some 28% of women reported feeling lonely, compared to 16% of men. “Overall, only about a fifth of people said they were lonely, but that was the most common of the stressors,” Gruen says. ABS survey results also showed 75% of parents kept their children home from school. “Women were almost three times as likely to have stayed at home to take care of their children on their own, than men.” “About 15% of parents said that a lack of access to a stable internet connection was impeding their children’s ability to undertake schooling from home,” Gruen says. In the wake of the roll out of the single touch payroll system last year, the ABS has also had instant access to almost all business and tax data. “[Single Touch Payroll] is a huge addition to the statistical arsenal,” Gruen says. In the next census of the Australian population, to be held in August 2021, there will be two new fields of questions - on chronic health conditions and veterans. But the census will no longer ask Australians whether they use the internet. “There’s huge public value in having an accurate census, because you collect an enormous amount of information which is of value both to government decision makers, and to decision makers in the community,” Gruen says. “The things that you learn from the census form the basis for an awful lot of decision-making in subsequent years.”

On this episode of Accountants Daily Insider, TaxBanter's senior tax trainer, Robyn Jacobson, explains the implications of the passing of the Superannuation Guarantee Amnesty Bill, which now awaits royal assent. Robyn joins host Jotham Lian to provide her insight into journal entry practices in the industry, how the government can provide the profession with certainty around proposed changes to Division 7A, and what actions practitioners need to take in the lead-up to 1 July. She also shares what advisers need to know about a new law regarding CGT main residence exemption, impending changes to Single Touch Payroll, and legislative adjustments regarding agents' access to deceased clients' information.

According to director at LMS Advisory Alexander Laureti, policy changes are a great opportunity for accountants to review and improve relationships and processes with their clients. In this episode of Accountants Daily Insider, Alexander joins host Sarah Kendell to discuss the implications of upcoming changes in the accounting space, including the transition from AUSkey to myGovID, the implementation of Single Touch Payroll and the imminent rollout of e-invoicing. Alexander shares his insight around timing such transformation projects, the feedback he's received from clients in response to the changes, and the challenges and opportunities he foresees for the industry in the year ahead.

Welcome to Episode 047 of the Wise Accounting Podcast. This week we discuss the latest developments including: - ATO lodgement and payment concessions to those affected by the bushfires in Australia. - The changes to Single Touch Payroll with the integration to the Child Support Agency - ATO increased data matching and how insurance companies may provide the key to the ATO taxing previously untaxed and unknown asset disposals. If you enjoy the podcast, please feel free to leave a review, as they help immensely; and subscribe to never miss an episode!

Jason Lucchese is a seasoned public servant with more than 19 years of experience executing large-scale government programs including the introduction of SuperStream and Single Touch Payroll. Currently ATO Assistant Commissioner and Single Touch Payroll Program Lead, Jason works closely with the employers, payroll service providers and intermediaries to support the introduction of STP. We aim to clarify STP for you, and give you the most reliable information possible by taking it back to the STP basics. Discussing why the ATO decided to bring the system in the first place helps us to understand the benefits for small businesses, and so far the feedback of the 70% or so of businesses that are signed up has been positive. There are some fears amongst small employers that STP is perhaps difficult to use, however as Jason explains, it has been designed to actually make lives easier. Throughout the podcast, we ask Jason how small business owners can get educated on STP, what options will suit them best and the fact that although the deadline has passed, there is still time to sign up.

Tim Hoopmann, Founder of Spinn Business Solutions interviews Assistant Commissioner Jason Lucchese about Single Touch Payroll (STP). They discuss why it has been introduced, how to comply with the new reporting requirements and what to do if you haven't started reporting.

With the introduction of digital requirements such as Single Touch Payroll, accounting practices are being encouraged to embrace the paperless movement. However, not all firms are enthusiastic about the inevitable switch to digital. In this episode of Accountants Daily Insider, the strategic partnerships manager of Receipt Bank, Christopher McColm, shares his insights with host Sarah Kendell about how accounting firms can change their attitudes towards going paperless, talks about the importance of empathy for historical businesses that have already been through abundant change, and addresses the widespread misconception that accountants might lose revenue due to technology replacing so many aspects of their role.

Julian Campbell talks about teething problems with singe touch payroll.

Julian Campbell talks about teething problems with singe touch payroll.

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.with Alexi Boyd from Boyd Office Management ServicesDate: 16 July 2019 Do you want to do it cheap or do you want to do it right? In discussion with an expert bookkeeper Michele Grisdale A question bookkeepers get asked all the time: what is it going to cost to get it right? And that is the crux of it. It DOES take time, money, expertise and sometimes a whole lot of patience to support small biz as they navigate (or rather trip) their way through the maze that is small business compliance. Take Single Touch Payroll for instance (and if you just asked what that was you need to change jobs). It is a big change for the 2.2million small businesses and is just one example of compliance which you need to know about. So the solution is make sure you have got the right expert to help you. How do you find them? What or who do you need to avoid? And what should and should you NOT expect them to do for you? Michele Grisdale is a BAS Agent with clients in all sectors of small business, a speaker and proud advocate for bookkeepers. Let’s chat about the big change that is Single Touch Payroll and what your employees need to know. What’s changed and what’s the right/mandatory thing to do? Group certificates or payment summaries and now called income statements Payslips must be issued each payrun on the day Allowances, super, PAYGW need to be clearly shown on payslips Don’t forget all the minimum awards all went up on 1Jul19 How to search on PACT What if I’m a husband & wife business owner. Now needs to be quarterly and you need to apply for a concession to report quarterly as a minimum? ATO says not a long term solution Only an agent or business owner can lodge it Just because it’s the way you’ve always done it, doesn’t mean its right. Why a good bookkeeper is so important for your business? Would you hire an untrained mechanic? Ask about their experience, their qualifications. As you licenced? Read their emails… Business owners, contractors, admin support people are being pressured into doing payroll. They are untrained, and the biggest risk is the business owner because unless you authorise someone else in writing to lodge for you CPE constantly. It takes us hours each week to keep up with this. How are you, the business owner going to understand all that’s required? Bookkeepers can: Follow systems designed by others Process Reconcile & produce results but not if client is relying on them to make financial decisions Raise questions but not answer them Can NOT submit payroll, STP reporting, super, TPAR, BAS, ATO, Tax Decs, arrange payment plans. THAT is a BAS Agent You have an admin support > Bookkeeper > BAS Agent > Tax Agent So why are we having this chat and Michele why are you so passionate about this issue in small business? What is a bad or unqualified bookkeeper costing you and your business? Time, money, relationships More importantly what is NO bookkeeper costing you Your relationships With allowances, super, PAYGW being reported to the ATO each payrun now in your experience as a bookkeeper what do you think the ATO will be looking for with STP? The main thing is matching super liabilities with what the Correct entitlements data matching with industry benchmarks

When the new financial year starts on Monday ((July 1)) small businesses with fewer than 20 staff will face sweeping changes in the way they interact with the Tax Office. - با شروع سال مالی جدید از دوشنبه آینده، یکم جولای، کسب و کارهای کوچکی که کمتر از ۲۰ کارمند دارند با تغییرات زیادی در ارتباط با اداره مالیات استرالیا یا ATO مواجه خواهند شد.اداره مالیات استرالیا از این قوانین جدید با عنوان "بزرگترین تغییرات پس از اجرای قانون "GST" نام برده و بر اساس یافته های برنامه "اسرار کسب و کارهای کوچک" اس بی اس (SBS) بعضی از مالکان و گردانندگان این کسب و کارها با این سیستم جدید دچار مشکلاتی شده اند.

When the new financial year starts on Monday (July 1) small businesses with fewer than 20 staff will face sweeping changes in the way they interact with the Tax Office. The ATO describes it as the ‘biggest change since the GST. - NEWS: เมื่อปีการเงินใหม่เริ่มขึ้นในวันจันทร์ที่ 1 กรกฎาคม ธุรกิจขนาดเล็กที่มีลูกจ้างต่ำกว่า 20 คน จะต้องเปลี่ยนมาใช้ระบบบันทึกการจ่ายค่าจ้างออนไลน์ (หรือ Single Touch Payroll) แต่ผู้ประกอบการจำนวนไม่น้อยยังคงไม่เข้าใจการใช้ระบบใหม่นี้

On this episode of the "Business Blocks podcast" we run through all you need to know about Single Touch Payroll or STP and how your businesses reporting will change and when this will be need to be ready. Single Touch Payroll reporting can be straight forward if you follow our steps.    Listener Perks: All listeners have access to our Free Accounting software, https://www.tax4u.com.au/free-accounting-software/

David sat down with John Shepherd from the ATO to discuss all thing Single Touch Payroll. 

With interest rates going down and the minimum wage going up, what effect are these important economic shifts having on your business? The Fair Work Ombudsman ruled that Uber drivers are independent contractors and not employees, meaning every Uber driver is their own small business. Speaking of Uber, with the proliferation of ride-sharing services, many private vehicles are racking up kilometres. Which means they need a good mechanic. Independent, local mechanics offer service options at more competitive prices than dealership networks and you are not at risk of breaching the conditions of your warranty. On Workwise, it’s tax time and a major change is coming to the way businesses report salary, wage and superannuation payments to the ATO. Mark Chapman from H&R Block, in partnership with Officeworks, explains the ins and outs of Single Touch Payroll. Peter Switzer from growyourbusiness.com.au reveals why business owners could benefit from belonging to an industry association.

On Workwise, it’s tax time and a major change is coming to the way businesses report salary, wage and superannuation payments to the ATO. Mark Chapman from H&R Block, in partnership with Officeworks, explains the ins and outs of Single Touch Payroll.

Tax Wrap speaks to the ATO's STP program lead John Shepherd, Assistant Commissioner, Single Touch Payroll, about the progress made so far introducing the STP initiative to Australian businesses, and the way forward from July this year.

In this episode of Tax Yak, Robyn yaks with Michael Karavas, Director at the ATO and Design Lead of STP, in a Q&A format, addressing all your questions about the ATO’s approach to transitioning around 750,000 small employers into STP from 1 July 2019. The discussion covers the transitional approach for small employers, micro employers and employers with closely held payees. Host: Robyn Jacobson Guest: Michael Karavas, ATO Director & STP Design Lead Recorded: 17 April 2019

From 1 July 2019, Single Touch Payroll is mandatory for all employers, even those with just one employee. This is the most significant change to reporting systems for businesses since the introduction of the GST. In this episode of Tax Yak, Robyn yaks with John Shepherd, Assistant Commissioner at the ATO and Program Lead for STP, about the introduction of STP and what it means for employers and employees. Host: Robyn Jacobson Guest: John Shepherd Recorded: 15 April 2019

Demystifying Single Touch Payroll - Gemma Heaney Hey, I'm so glad you could join us. Welcome to the Small Business Talk Podcast today, we are talking to Gemma Heaney of HBG Tax & Accounting and we're going to be talking about single Touch Payroll. What do small business owners need to know about single touch payroll? The main thing that most businesses need to be aware of is that it is now going to be mandatory for all employers, from the first of July 2019. Listen on and get the full show notes at https://smallbusinesstalk.com.au/011

Julian Campbell talks Tony Vidray from AV Charttered Accountants about why it is time for employers to get ready for Single Touch Payroll.

Julian Campbell talks Tony Vidray from AV Charttered Accountants about why it is time for employers to get ready for Single Touch Payroll.

All good Australian stories start in the pub, and the journey for Paul Sharpe from Easy Payslip started with a great story involving some mates and a few beers. Come join us as we talk about schooners, spreadsheets and payslips AND solving your payroll headaches with a single touch!

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.with Alexi Boyd from Boyd Office Management ServicesDate: 19 February 2018 Let’s be honest, there’s probably not a lot of love out there for the ATO coming from Small Business. Many of us are worried if we get the smallest thing wrong they’ll come down on us like a tonne of bricks.   There are frighteningly effective ways the ATO is finding and fining those who are deliberately doing it wrong, come 1 July there are some changes you need to be aware of as an employer, but on the other hand there are also loads of ways the ATO supports, assists and educates us. So let’s have a chat to them. They want to engage better with small businesses and today we have the perfect guest with the inside knowledge. Deborah Jenkins is the Deputy Commissioner for the ATO and joins us to talk about top record keeping tips, getting online, who to ask for help and where to turn to when it all goes wrong. Welcome to the show Deborah. Topics we’ll be covering: How small businesses can get the basics right (cash flow, record keeping, tax tips)Good record keeping Using Online portals to make your life easier Keeping up to date means better understanding of your cashflow What can small business do if they are having difficulties Where can you get advice and how the ATO can help Tools and services ATO offerResources such as ATO Small Business Newsroom newsletters and the Small Business online section is excellent! What about illegal Phoenixing activity?How do you know when you’re getting it REALLY wrong? Why is the ATO cracking down on it? What can the legitimate, honest businesses out there do to let the ATO know about the dodgy guys? We couldn’t talk about the 1Jul2019 without touching on the changes Single Touch Payroll will bring for all employers. Where can small business find out more? ATO Small business tips - starting the year off well Take the opportunity to get your business organised for the New Year, and make 2019 the best year yet for your business. Check your business follows these tips: keep good records, helps you stay organised throughout the year. In addition to meeting your tax obligations, having good records will give you a more accurate picture of your business to help you understand how you are doing. This will give you an opportunity to spot potential problems sooner rather than later. seek advice, we know around 95 per cent of small businesses use a registered tax or BAS agent. Your tax professional can help you prepare and lodge your tax return and also help you to identify areas for improvement, which allows you to focus on running your business. report & lodge online, going digital is the quickest and easiest way to manage your tax and super. Our Business Portal allows you to prepare, lodge and revise activity statements, view your reports for Single Touch Payroll (STP) plus more. If you’re a sole trader, you can manage your tax online using ATO online services, via myGov. This includes lodging your tax return via myTax. keep up to date, subscribe to our Small business newsroom where you can get all the latest tax news delivered straight to your email inbox. Visit ato.gov.au/SBsupport for an overview of resources, tools and services the ATO offer. To find out more go to their website: Small business newsroom  & ato.gov.au/SBsupport Know the signs of illegal phoenix activity Illegal phoenix activity is when a new company is created to continue the business of a company that has been deliberately liquidated to avoid paying its debts, including taxes, creditors and employee entitlements. This activity costs the Australian community up to $5.13 billion per year. The Phoenix Taskforce, a group of 34 state and federal agencies are working together to combat it - so far they’ve returned over $230 million to the community. The ATO has developed a video to help you Know the signs of illegal phoenix activity and protect yourself. We’d love you to help spread the word and share this video, or some informative factsheets with your networks. If you suspect phoenix activity, report it on 1800 807 875 or online. Links: Illegal phoenix activity Phoenix taskforce Factsheets Tweet

Join us this week as we discuss single touch payroll! Do you need to use it and if so what do you need to do to prepare! Also we discuss Taylor Swift, Sleep and Richard Branson.

Julian Campbell discusses the single-touch payroll with Tony Vidray, charted accountant.

Julian Campbell discusses the single-touch payroll with Tony Vidray, charted accountant.

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it.with Alexi Boyd from Boyd Office Management ServicesDate: 25 September 2018 I'm proud to announce that Small Biz Matters is now working with the Australian Taxation Office to provide regular updates on how they supports small business including having regular ATO representatives speaking on the show! Today we’re joined by John Shepherd an expert in Single Touch Payroll  to chat about how this big change will affect you as a small business. Welcome to the show John. Discussion Points: Single Touch Payroll is the largest change to payroll and overhaul of the Tax System since the GST. Why has this been initiated? What is the ATO hoping to achieve with these changes? For a small business with up to 19 or fewer employees for example when does this start and what changes do they need to make in their payroll processes to be compliant? Take us through the steps to be ready What takes place in the end of financial year finalisation process? Will this change anything about the way we work with contractors as opposed to employees? How will this impact employees and what can small business do to inform employees of the changes? What resources does the ATO provide to support small businesses in these changes? What do you say to those employers and employees who have concerns about their data protection?   John Shepherd, Assistant Commissioner – Australian Taxation Office. John is the Program Lead for Single Touch Payroll. John has performed a number of senior roles in his 27 years with the ATO, leading significant change programs and projects seeking to improve the client experience. Playing an active role in the implementation of SuperStream, John also led the delivery of a number of other super reform initiatives, including driving online superannuation account consolidation. John has been a passionate Movember ambassador since 2009, the ATO team he leads raised over $40,000 last year. John holds a Masters of Taxation and is based in Canberra. To find out more go to their website: https://www.ato.gov.au/Business/Single-Touch-Payroll/

Single Touch Payroll is one of the biggest reporting changes for the tax profession in years. In this episode of Accountants Daily Insider, host Katarina Taurian is joined by STP program lead at the Australian Taxation Office John Shepherd, who runs through how the first STP deadline fared for employers and the ATO alike. John also reveals some good news for accountants and bookkeepers about reporting requirement changes, and what small business can expect for their July 2019 deadline. Spoiler alert: there’s flexibility for microbusiness on the horizon. This episode is proudly bought to you by Attaché Software

Single Touch Payroll reporting has started for employers with 20 or more employees, Assistant Commissioner John Shepherd talks to Michael Croker, Tax Australia Leader at Chartered Accountants Australia and New Zealand about the journey ahead.

Julian Campbell finds out about single touch payroll with Tony Vidray, from AV Charterred Accountants, and discovers the Hunter Innovation Festival with Christina Gerakiteys.

Julian Campbell finds out about single touch payroll with Tony Vidray, from AV Charterred Accountants, and discovers the Hunter Innovation Festival with Christina Gerakiteys.

Simon Dorevitch of A&A Tax Legal Consulting discusses updates to FBT for cars, Senior Tax Counsel Peter Adams talks about the definition of a "fringe benefit", and ATO Assistant Commissioner John Shepherd runs over the finer details of Single Touch Payroll.

In our latest episode, we discuss Single Touch Payroll – is your business ready? Hosted by : Director of Business Concepts Group, Financial Planner and... Go to Podcast

In part 1 of this episode Assistant Commissioner John Shepherd talks to Michael Croker, Tax Australia Leader at Chartered Accountants Australia and New Zealand. They have a chat about Single Touch Payroll and how to get ready for the transition.

With Andy Nguyen, Letty Tsoi, and Nathan Hewitt. This week, the team goes through Single Touch Payroll, including the uncertainties and possible avenues for improvement. Produced by Nathan Hewitt.

With Letty Tsoi, Bill Mavropoulos, Andy Nguyen, and Nathan Hewitt. This week the team talks YouTube vloggers and income averaging protocols, as well as Div 7A revelations and the introduction of the Single Touch Payroll system. Produced by Nathan Hewitt.