News

Monthly BAS and IAS – 21st of following month.

Quarterly BAS 3 – (Jan-Mar 2024) 25th May 2024 (if lodged by your tax or BAS Agent)

Single Touch Payroll – You are required to report a pay event to the ATO on or before the pay day.

Quarterly super guarantee payments – 28th day following end of quarter*

• Jan-Mar 2024 – 28th April 2024

Monthly Payroll Tax – 7th of following month

*Note: your required super contributions must be received by the funds by 28^th day following the end of a quarter.  Allow time for clearing houses to pass on payments.

You may need to remit super monthly if:

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

From the ATO “Essentials to strengthen your small business is a flexible and free online learning resource for small businesses, educators and tax professionals to share and use with their staff, students and clients. There are currently 21 short courses covering topics such as record keeping, cash flow, deductions, GST and super.

Share this resource with your small business clients to help them get the basics right and improve their business knowledge. They can choose a learning pathway relevant to them, depending on where they are in the business lifecycle.”

Employers and employees need to start planning how their businesses will operate during the end-of-year holiday season.

Many businesses get busier and may need their employees to work more hours and on public holidays. Other businesses may shut down (also known as a ‘close down’) or reduce their staff numbers.

Find out about the rules and entitlements during the end-of-year holiday season that may affect you.

From Fair Work:

• • Requiring an employee to take annual leave during a shutdown
• Employees without enough annual leave to cover a shutdown
• Awards and agreements without shutdown rules
• Working during a shutdown
• Working overtime or on a public holiday
• Paying employees who don’t work on a public holiday
• Resources for young workers
• More information

The ATO is changing the way Tax and BAS agents can take over a client’s affairs for either tax, BAS or payroll from 13^th November 2023,

Outlining the new procedure, the ATO said: “Businesses and organisations included in the process will need to nominate their agent before the agent can add them to their client list.”

“They will need to login to their ATO Online Services for Business and use the new agent nomination feature in when they:

• Engage a new tax or BAS agent, or payroll service provider to represent them
• Provide extra authorisation to their existing authorised agent (for example, the agent begins representing them for a new obligation, such as income tax or a new entity in their group).”

“After a client completes the agent nomination, the agents will have seven calendar days to add them to their client list in Online Services for Agents. The agent won’t get an automated notification advising that a client has completed the nomination. So, the client must notify the agent that the nomination has been completed.”