2022-2023 Financial Year Calendar

Another year has ticked over!!  Can you believe we are now into the 2023 Financial Year?

Here’s our new 2022-2023 calendar to help you remember all the key financial dates for tax, superannuation guarantee payments and BAS dates.

If you need assistance with your tax, BAS or any other accounting issues, give us a call on 02 9267 1688 or use our Contact Us form.

2021-2022 Calendar

Here’s our new 2021-2022 calendar to help you remember key tax, superannuation guarantee and BAS dates.

Categories: Tax

Remember key dates with our 2020/2021 Financial Year calendar

 

    

Happy New Financial Year!! 

 

 

 

Download our 2020/2021 financial year calendar to help remind you of key accounting and tax dates.

This year, we have two versions  – our usual DL version in jpg picture format, which you can use this as a screen wallpaper, and an easy to print A4  pdf version.

Download here:

DL version (.jpg)

DL version calendar

 

 

 

 

 

 

 

 

A4 version (.pdf)

 

 

 

 

 

 

 

 

 

 

 

Single Touch Payroll now required for all Australian Businesses

Single Touch Payroll is a Government initiative that will change the way you report on your payroll to the ATO from 1 July 2019.

Under Single Touch Payroll (STP), all businesses will report on salary or wages, pay as you go (PAYG) withholding and superannuation directly to the Australian Taxation Office (ATO), electronically, and at the same time as you pay your employees.

 

This new streamlined reporting to the ATO will make it easier for you to meet your payroll processing obligations.

Single Touch Payroll (STP) was introduced on 1st July 2018 for all businesses with 20 or more employees.  Now STP is set to be rolled out in stages to smaller businesses with less than 20 employees as at 1 July 2019.

 

What do you need to know?

STP will require you to have your payroll transaction data transferred to the ATO each time your employees are paid. This may require you to use a software solution that will transmit the data to and from the ATO on your behalf.

Talk to one of our team members to review your software and payroll processes to ensure you are STP ready.  Email us at admin@gockcpa.com.au or phone us on 02 9267 1688.

How to gain back time in your business

As a small business owner, we all know how time consuming it is to manage the invoices, receipts and other documentation for our business.  Now, there is a new app that can change your life and allow you to take back some valuable time.

Introducing Hubdoc, an app that auto-fetches key financial docs and seamlessly syncs them with your accounting system.  With Hubdoc, you can say goodbye to chasing documents and data entry and say hello to increased productivity and automation.

Check out this 2 min video on Hubdoc to find out more.

 

 

If you want further information on how Hubdoc or any other cloud accounting system can help save you time, please email admin@gockcpa.com.au

For a limited time, we are offering a FREE 1 month trial of Hubdoc.  Email admin@gockcpa.com.au for further details.

 

General advice disclaimer

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making any decision on the basis of this advice, you should consider how appropriate the advice is to your particular needs, and objectives.  Information is current at the date of posting and may change.

Are you ready for Single Touch Payroll?

Single Touch Payroll is a reporting change coming into effect on 1 July 2018 for some employers.   Check if this affects you!!

At each pay cycle, you will need to electronically send payment information to the ATO, as opposed to waiting to the end of the month or quarter.  This is to streamline the reporting to the ATO.

Payments, such as salaries and wages, pay as you go (PAYG) withholding and super information, will need to be reported to the ATO directly from your electronic payroll system at the same time you pay your employees.  Your payroll cycle does not need to change. You can continue to pay your employees weekly, fortnightly or monthly – whatever you do now.  You  may have even have different pay cycles for different employees.

 

Time for Action

How many employees do you have on your payroll?

If you have 20 or more employees, then you must start reporting via Single Touch Payroll from 1 July 2018.

You will need to do a headcount on 1 April 2018 to determine if you need to report via Single Touch Payroll on 1 July 2018.

The headcount should include:

  • full-time employees
  • part-time employees
  • casual employees who are on your payroll on 1 April and worked any time during March
  • employees based overseas
  • any employee absent or on leave (paid or unpaid)
  • seasonal employees (staff who are engaged short term to meet a regular peak workload, for example, harvest workers).

If your headcount is 20 or more, then you will need to ensure you have a Payroll solution that is Single Touch Payroll ready.   Contact us on 02 9267 1688 or email enquiries@gockcpa.com.au if you have any questions or are looking for a Payroll solution.

 

Less than 20 employees?

If you have less than 20 employees, you may have an extra year to comply with Single Touch Payroll.  The Australian Government has announced it will expand Single Touch Payroll to include employers with 19 or less employees from 1 July 2019, subject to legislation being passed in parliament.

 

What do I need to do?

Check if your payroll software provider is Single Touch Payroll compliant or is working towards being compliant.

If you currently do not have an electronic payroll system in place, we can help you find a suitable solution that is Single Touch Payroll compliant and will meet your business’ needs.

One payroll solution is Xero.  If you would like to discuss what payroll solution would be best for your business or need help implementing a payroll solution, contact us today for a free chat to see how we can help you!

General advice disclaimer

General advice warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making any decision on the basis of this advice, you should consider how appropriate the advice is to your particular needs, and objectives.  Information is current at the date of posting and may change.