The countdown to 30 June is on!
Your EOFY Checklist
End of Financial Year can be overwhelming. We've broken it down into do-able tasks, so you can go into 2019-20 feeling prepared.
Reminder: All employers must be using STP by 1 July 2019!
Single Touch Payroll (STP) is the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO.
Businesses with more than 20 employees were required to start using the system last year, and now employers with less than 20 employees need to be set up and running by 1 July 2019.
Who is exempt?
Exemptions apply to "closely held payees" for the first financial year. Closely held payees are directly related to the entity, such as family members of a family business, directors of a company and shareholders or beneficiaries.
If you own a micro-business, or your business is in an area with no viable internet connection, then exemptions may also apply.
The instant asset write-off threshold for businesses has changed several times in recent months. This means that different rules apply depending on when you purchased an asset.Read More…
In the 2017-18 financial year, Australians claimed over $47 billion in rental deductions, and the ATO will be auditing 4,500 tax returns to crack down on errors and undeclared income.Read More…
There is a potential issue with the 2019 Land Tax Notices. We recommend you follow these steps to determine if you are affected.Read More…
How did we do?
We're genuinely interested to hear your feedback on our work.
We've put together a very brief survey for your convenience, which you can access below.
If you'd like to give us feedback over the phone, or in person, give our office a call on 03 9851 7999.
Upcoming Key Dates
10 June - Queen’s Birthday (Public Holiday)
17 June - Plant: Grow: Reap Coaching Session
21 June - May monthly BAS due
28 June - Victorian School Term 2 ends
30 June - End of Financial Year
01 July - Single Touch Payroll mandatory for all employers