What is Single Touch Payroll (STP)? Single Touch Payroll is a Government initiative that will change the way you report on your payroll to the ATO from 1 July 2019. Under Single Touch Payroll (STP), all businesses will report on salary and wages, pay as you go (PAYG) withholding and superannuation directly to the Australian…
There is a worrying trend when it comes to Australian business owners planning for their retirement and personal financial future beyond life as a business owner.
If you have a niggling feeling that your business set up may not be in your best financial interests, it’s probably time to review your structure.
Business owners commonly pay more tax than they need to. One small mistake can lead to BIG tax consequences for your business, yet all it takes is a little planning to avoid paying more than you should.
For the best possible outcomes for your business, preparation for tax time should start before the end of the financial year. For the 2017/18 financial year, this means now.