What’s new in payroll Feb 2018

March 4, 2018

ATO Small Business Superannuation Clearing House (SBSCH).
Access to the clearing house through the ATO website has stopped from 19/2/18.
Access is now available through the ATO online services.

3 options to consider:

  • Move to the free clearing house in your accounting software – requires some set-up Xero, MYOB AccountRight,  MYOB EssentialsQBO
  • Continue to use the ATO’s SBSCH using the new platform. Requires some initial set-up
  • Contact your default fund and ask about whether they offer a free clearing house

Sick Leave
This one caught my eye this week. Are you unnecessarily paying your
employees sick leave for elective surgery of cosmetic procedures? Check this
Here’s another dire warning from Fair Work.
A business owner who confessed to being “too busy and lazy” to keep adequate financial
records has been hit with penalties worth more than $43,000
“Proper record-keeping and the provision of payslips is essential to ensure
there is compliance with workplace laws,” deputy FWO president Michael Ardlie

Lodgement Due Dates

Date Lodgement Dates to be reported
7 March State payroll tax Feb
21 March Monthly BAS and IAS Feb
7 April State payroll tax March
21 April Monthly BAS and IAS March
28 April Quarterly super guarantee Jan-Mar
7 May State payroll tax April
21 May Monthly BAS and IAS April
26 May Quarterly BAS (if lodged by tax or BAS Agent) Jan-Mar
28 May FBT Return 1/4/17-31/3/18

Fringe Benefits tax year finished 31st March.
If you provide benefits to your employees other than wages, you may be liable
for FBT. Please contact your tax accountant if you’re not sure.

Important Dates


Monthly BAS and IAS – 21st of following month.

Quarterly BAS 3  2018 (Jan-Mar 2018) paper lodgements 28 April 2018. Business Portal due 11th May 2018. Electronic lodgements –  (if lodging through Effective Services or your tax agent) 26 May 2018

Quarterly Super payments* –by 28th day following end of quarter – due 28th April 2018 (for Jan-Mar 2018).  **  

**Note: your required contributions must be received and banked by the funds by 28th day following the end of a quarter.  You may need to remit monthly if:

  • Your employees are making personal contributions
  • The employee’s Award requires it
  • It’s a requirement of the fund for insurance purposes

The ATO’s Small Business Superannuation Clearing House has changed in February 2018.  Please contact us to discuss the right alternative for your business.

NSW Payroll Tax   7th day of following month (or next working day).  Some States may offer extensions, check with your local OSR.





Payroll News and Tips – January 2018

January 22, 2018

  • ATO Small Business clearing House changes Some of you have already made new arrangements to cater for the changes to the SBSCH.  If you still haven’t made the change and need some help, please let us know?
  • Employees – new and old
    • New staff On-boarding procedures We’ve developed a new document for you when you get a new staff member.  As soon as you have someone new, let us know and we’ll take you through the process.
    • Terminations and security When staff leave it’s important to make sure ALL their company access is removed.  Bank access, accounting systems, other software, office and PO box key, authorised access to deal with suppliers, and more.
  • Penalties for late super payments. Paying your employees’ super on time should arguably be at the top of your cash flow list.  The penalties for late payment are considerable. More than late BAS, more than credit card interest etc.  This article by fellow bookkeeper, Lielette Calleja explains how to avoid these penalties.
  • Single Touch Payroll Matthew Addison, executive director, Institute of Certified Bookkeepers recently updated members with an article in Accountants Daily.  In summary he says:
    • >The systems are just not ready yet!
      > There is nothing you or your employers need to do to engage in STP yet.
      > The ATO and the software developers are working on providing the solutions leading up to the April 2018 date.
      > Remember, a key to-do item is to prepare and clean up your systems in preparation for your payroll to be reported more regularly to the ATO.


Things to watch out for in 2018

January 8, 2018

For Business:

  • Cyber security
  • Accounting systems and add-ons providing more automation
  • Changes to small business tax rates
  • The Small Business instant asset write-off threshold of $20,000 is currently due to stop on 30 June 2018
  • More data moving on-line
  • Baby Boomers selling or closing businesses
  • Interest rates to rise – getting a loan may be harder
  • Less use of cash – more use of ‘Block-chain’ type technologies and digital currencies
  • More remote workers


And for employers:

  • Changes to Small Business Superannuation Clearing House
  • New penalty rates in some Awards
  • Changes to 457 Visas
  • More ATO paper forms being moved to mygov
  • Single Touch Payroll

Contact us if you need more information 02 9555 2395

Does your accounting system provide you with the information YOU want?

November 2, 2017

Now that business owners are getting more savvy around their finances, the reporting from the basic accounting system may not give them everything they need.  With on-line accounting business owners can access their information in real-time without having the wait until ‘month end.’

The accounting system can provide good information on past results around Debtors, Credits, Wages, Profit and Loss and Balance Sheets.

To get current and, more importantly, future information a specialised reporting system may be what you need.  These can help forecast Cash Flow, Profit, Calculate Break even Point and even track your progress against your goals.

In order to assist clients with reporting and analysis of their business finance data, we have introduced some new tools, available for use right now:

Tax debts for business can affect your credit applications

October 15, 2017

If you have a small business tax debt over $10,000 and it is at least 90 days overdue, the tax man will disclose this information to credit reporting agencies. This is a new measure announced during the federal governments’ mid-year budget update in order to encourage tax debts to be paid off faster. The only way around avoiding your tax debt being reported to credit agencies is to pay it off.

If you have an existing tax debt, you should check out this article.