Payroll News and Tips – January 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.