Are you aware of these new rules?
There have been a lot of tech updates in the business world recently, so we thought we'd roll all the information together and make sure everyone is in the loop.
Please read the details below carefully to ensure you're up to date on what new laws and requirements will apply to you.
Single Touch Payroll isn't far away!
Will Single Touch Payroll apply to you?
If you have employees, the short answer is yes... it's more a question of when!
A QUICK TIMELINE:
From 1 April 2018 - Employers are expected to do a head count to determine if compulsory Single Touch Payroll reporting will apply to them.
By 30 June 2018 - Employers may need to update their payroll software to ensure it’s compatible with the STP system.
From 1 July 2018 - The Single Touch Payroll system will become mandatory for all businesses with more than 20 employees.
From 1 July 2019 - STP will become compulsory for ALL businesses, regardless of business size.
Two-Step Authentication for Xero
If you have an account with Xero, please note that two-step authentication will become mandatory as of 26 March 2018.
Click here for a written step-by-step guide on how to set up two-step authentication.
Mandatory data breach reporting is here!
These laws took effect on 22 February 2018.
Be proactive and ensure your cyber security is up to scratch so all your data is protected.
Mandatory Data Breach Reporting
It is so important to ensure the security of your online data, for the sake of your clients’ privacy, and now also for the sake of your business reputation.
SMSF Data Feeds
If you're one of our SMSF clients, you may receive emails from our Communications Coordinator, Chelsea, about setting up Bank Feeds for your Superannuation Fund.
We are improving our administration service by utilising technology provided to us by our SMSF software supplier, BGL. This will allow us to automatically receive bank feeds from your account.
The benefits include:
- Faster access to accurate account data, which can help us provide the best possible service.
- Removing the need for you to send this data to us at year-end.
- There is no cost to you; we just require your consent and assistance before we can proceed!
If you receive an email about your data feed, please return the paperwork as quickly as possible, so we can implement this new service!
Make sure you've read:
Protecting Yourself From Email Scams
We’ve made a guide on how to identify scam emails, so you can be confident in your own ability to sniff out when something is wrong. Read More…
This guide can help ensure you (and your employees) are the first line of defence against phishing scams and hackers.