BOOKKEEPING & PAYROLL

New era of payroll reporting has started

Successful start for Single Touch Payroll Single Touch Payroll (STP) reporting is off to a successful start, with around 40,000 employers already sending tax and superannuation information from their payroll software each time they pay their employees. The STP transition year for employers with 20 or more employees started on 1 July, delivering on the commitment to streamline reporting obligations and…

Superannuation Budget changes

1 July changes

What’s changing on 1 July 2018? Individuals Personal tax bracket changes – The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000*. Introduction of the Low and Middle Income Tax Offset* providing a tax offset for those with taxable income of up to $125,333. GST on property developments and…