Reminder of new mandatory data breach reporting laws.
Must-read articles this month:
Update on Single Touch Payroll
Key dates for 2018
Key Dates February 2018:
1 February – February fuel tax credit change due to indexation. 19 February – Plant: Grow: Reap coaching session. 21 February – January monthly BAS due. 23 February – Mandatory Data Breach Laws take effect. 28 February – December quarterly BAS due. 28 February – December quarter SG charge statement due. 28 February – December quarter PAYG instalment due.
Please update your accounting software!
We're asking all our clients to make sure they are using recent versions of the accounting software use to send information to us (MYOB, Quickbooks, Reckon, Cash Flow Manager etc).
There have been some difficulties accessing important information because it was sent through very outdated software.
If you have any questions about updating these programs, you can get in touch with us and we can help make sure everything is up to date.
Mandatory Data Breach Reporting
A reminder that as of 23 February 2018, many businesses will be required by law to report any data breaches that occur.
The Privacy Amendment (Notifiable Data Breaches) Bill 2016 is a notification regime for eligible data breaches in Australia.
Under the new law, if you believe your organisation has been breached, or data has been lost, you are required by law to report the incident to the Privacy Commissioner and any affected customers or clients as soon as you become aware of the breach.
This intends to hold businesses accountable for any breach of data that occurs, and therefore encourage a proactive approach to cyber security.
You can read more about these new laws, who it will apply to and how you can protect your business, on our website.
An update on Single Touch PayrollAll businesses, regardless of number of employees, will be required to use the Single Touch Payroll (STP) system as of 1 July 2019.
Important dates for 2018
A list of the key dates for this year, including ATO deadlines, Victorian school term dates and daylight savings. You can also download a copy of the list directly from our blog.