June 2019 Newsletter
- Farm Business Assistance Program provides $2,500 support
- IT, Road Freight & Security added to Taxable Payments Reporting in 2019
- Single Touch Payroll to affect all employers
- SMSFs reminded on deadline with protecting your super measures
- Fair Work lifts minimum wage by 3% from 1st of July
- What’s on the table when you buy or sell a business?
The Victorian Government (through Agriculture Victoria of the Department of Jobs, Precincts and Regions (Agriculture Victoria) is offering Farm Business Assistance for eligible farm businesses in the Wellington Shire, East Gippsland Shire, Northern and North West Victoria.
If you run a business that makes payments to contractors, you’ll want to stay ahead of changes to the Taxable Payments Reporting System (TPRS) no matter what industry you’re in.
When you run a business, you have to keep up to date on all the latest regulations …
Single Touch Payroll is a change in the way employers will report their PAYG and super information to the ATO. Employers will now be required to report PAYG and super after a “payroll event” – essentially after payroll has been processed – rather than previously reporting monthly or quarterly. In addition to PAYG, super information …
In an online article, SuperConcepts executive manager Nicholas Ali said that, …
With the changes announced today, the new minimum wage will increase to $19.49 per hour, which is a change of 56 cents per hour.
Announcements:This month we celebrate one birthday and three work anniversaries. We wish Brian a very Happy Birthday and congratulations to Gabi (22 years), Dee (23 years) and Andrew (26 years) who all bring up work anniversaries this month!
Single Touch Payroll Presentation
QuickBooks Online Training
Monday 24th June at 5.45pm
Over the last 12 months there has been a big move toward cloud accounting software and the most popular choice has been QuickBooks Online due to it’s functionality and great price.
To assist clients that want to learn the basics Watts Price Accountants will be providing a QuickBooks Online training session on Monday 24 June from 5.45pm to approximately 7.00pm.
This session will be in a computer room using a demo version and we intend covering topics like:
- Navigation to the key behind the scene settings
- Transactions (including quotes)
- Setting up Single Touch Payroll
- We’ll also discuss setting up bank feeds and other housing keeping matters
Seating will be limited so secure your seat today by contacting our office on 5382 3001 or email us at firstname.lastname@example.org.
The details: Topic: QuickBooks Online training
Date: Monday 24th June 2019 at 5.45pm
Location: Centre for Participation (39 Urquhart St, Horsham VIC 3400)
Cost: $50 + gst
RSVP: By Friday 21st June
Commonly Asked Question
Q: How am I expected to process Single Touch Payroll with no internet?
- The ATO is offering a deferral for those in areas where there is poor or no internet available. This may provide a temporary reprieve but having seen the required documentation this may not be the most straight forward option.
- You can outsource the processing of your STP reporting to a registered Payroll provider, Tax agent or bookkeeper (who needs to be a registered BAS agent).
- Clients that use QuickBooks Online or Xero accounting software can use the accompanying mobile app available on Apple or Android devices.
- Software provider Reckon has just launched their free STP mobile app, so as long as you have mobile coverage and a suitable mobile device you will be able to lodge your STP reporting.
For more information attend our free Single Touch Payroll presentation on Monday 17th of June or contact our office on 03 5382 3001 or by email at email@example.com
All the best from the Watts Price Team!