From 1 July 2015, some business owners will have their pay as you go (PAYG) withholding cycles changed. The cycle change is based on the amount you withheld under your Australian business number (ABN) in all branches during the 2013-14 Financial Year. If you withheld between $25,000 and $1 million, you will need to report and pay monthly. If the amount was more than $1 million, you will need to report and pay electronically according to the

SuperStream aims to improve the efficiency of Australia’s superannuation system and provides a new standard for employers when making super contributions. It requires an employer to send contributions electronically in a standard format with linked data and payments. Why Is This Happening? Without SuperStream reforms, each super fund sets their own requirements with regards to how they will receive payments and contribution advice details for each member. This can often

At the SMSF Association (formerly SPAA) National Conference held last month in Melbourne, the ATO confirmed that they are taking a new approach to when an Auditor Contravention Report (ACR) is lodged for an SMSF. The ATO will now telephone trustees of SMSFs (or directors where there is a trustee company) when they receive an ACR to confirm that the trustees or directors are aware that a breach was identified, as well as query why it