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Tag: Payroll

Personal Services Income. What is it?

  • On November 29, 2019
This article aims to cover Personal Services Income (PSI) issues faced by contractors, freelancers, medical professionals etc. Though Personal service income act has been in existence for a while, it is still a deeply misunderstood tax act. The article starts by explaining what PSI is and why was it introduced. Then it goes onto cover PSI rules […]

Single Touch Payroll/STP

  • On June 24, 2019
Single Touch Payroll (STP) is a new system of reporting wages, tax and superannuation information to the ATO. Initially, large employers were required to report from 1 July 2018. Now, all employers must enter into the reporting system from 1 July 2019. Small and micro employers have until 30 September to enter the system. STP is a […]

Single Touch Payroll or STP

  • On February 8, 2019
Single touch payroll (STP) is a change in the way of how small businesses report payroll activity to the Australian Tax Office (ATO). Businesses used to report this information to the ATO once a year. Now, they need to send a report after each pay cycle. And those reports must be submitted digitally, using Standard […]