The ATO has recently announced that from the 1st January 2022, employers will be required to provide additional Single Touch Payroll (STP) information. This will reduce the reporting burden for employers who need to report information about their employees to multiple government agencies. But what does this mean for you? If you currently employ people, please read on to learn more!

As of the 1st November 2021, the Australian Business Registry Services (ABRS) will be introducing and maintaining the Director Identification Number. This means that individuals who are currently a director of a company or will be acting as a director in the future must apply for a Director ID. If this is you, please read on to learn more.

The end of the tax year will soon be upon us, with 30th June just around the corner. For many business owners, it’s a stressful time, as you frantically rifle through your files trying to find that missing invoice or receipt! There’s one sure way to avoid that last-minute rush: making sure you’re prepared for tax time. In this blog post, we’re sharing with you our top tips to ensure you’re as prepared as you can be before it’s time to lodge your tax.

Nobody wants to attract unwanted scrutiny from the ATO! Tax audits can be a very stressful and costly time. The best way to avoid an audit is to know how to stay out of trouble in the first place. So, as tax time 2021 kicks off next week, we’re outlining below the most common ATO red flags to avoid when submitting your tax.

Not paying your own superannuation is cheating yourself out of future earnings and lowering your own value in your business. Plus it can have a serious impact on your retirement down the track; you may have to work beyond the standard retiring age, or you might find it difficult to make ends meet once you do retire. You can avoid this scenario by planning ahead. And the sooner you start planning, the more time you’ll have to grow your retirement fund. Here are a few tips on paying superannuation as a sole trader.

Good news starting off 2021: the JobMaker Hiring Credit legislation has now been passed into law! This credit is part of the 2020-21 Budget, which is in place until 6th October 2022. We’re breaking down what this means for you below: