Single Touch Payroll: what businesses need to know

Single Touch Payroll: what businesses need to know

From 1 July 2018, the introduction of a new payroll reporting system has changed how organisations with 20 or more employees report to the Australian Taxation Office (ATO). Single Touch Payroll (STP) requires employers to report information such as salaries and wages,...
IPA heralds ABN reform, flags black economy pitfalls

IPA heralds ABN reform, flags black economy pitfalls

Earlier this week, Treasury opened for public consultation its proposals to strengthen the ABN system, of which submissions close on 31 August.IPA chief executive Andrew Conway said the ABN plays a critical role in the tax system, but registering an ABN without...
Government to examine ABN renewal fees

Government to examine ABN renewal fees

In a Treasury consultation paper, the government noted that the Black Economy Taskforce proposed that ABNs should be subject to periodic renewal. It said a renewal process would indirectly address fraudulent behaviour by prompting ABN holders to have closer engagement...
Accountants pivotal in minimising SME financing risk

Accountants pivotal in minimising SME financing risk

KPMG Australia partner for enterprise Dominic Pelligana told Public Accountant of the importance of accountants informing small businesses around accessing patient capital, in particular the proposed Capital Enhancement Fund (CEF) and the Business Growth Fund (BGF) as...