Category Archives: Accounting Information

STP gets the green light for smaller employers

Legislation to apply the Single Touch Payroll (STP) system to small employers (those with 19 or fewer employees) has finally been passed by the Senate. This has created a passage for the STP system to come into operation for such … Continue reading

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Scammers – as active as ever

The variety of scams designed to take money from the unwary is never-ending. The age old phone call claiming to be from the Australian Taxation Office and threatening jail for an unpaid debt is as popular as ever, with one … Continue reading

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ATO focus on income from car sharing services

The extra income earned by people taking part in car sharing services such as Car Next Door or DriveMyCar has come to the attention of the ATO. These car sharing services work by making private cars publicly available in a … Continue reading

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Ethical Investing

Ethical investing is rapidly gaining momentum, quadrupling in the last 3 years to approx. $622 billion. The UK and US have a sufficiently deep market to maintain a benchmark for ethical investments, unlike the Australian market which is still in … Continue reading

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Good news on Single Touch Payroll for “micro” employers

The ATO has recently confirmed that micro employers (i.e. those with less than 5 employees) will not need to purchase payroll software to enable them to comply with the Single Touch Payroll reporting obligations, which are due to commence on … Continue reading

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ACNC Annual Information Statement lodgement extension

The ACNC today announced an extension to the due date for lodgement of 2018 Annual Information Statements, due to the delay in the release of the AIS. All charities that have a due date between 31 December 2018 and 28 … Continue reading

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Casual employee granted leave entitlements

The recent judgement by the full Federal Court in the case of WorkPac Pty Limited V Skene has opened the way for staff employed on a casual basis to potentially access leave and other entitlements, which are normally the domain … Continue reading

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ACNC Legislation Review Report released

In June this year, the Panel charged with reviewing the ACNC Act presented its report to the Government.  After much anticipation, this report has now been tabled in Parliament.  It makes thirty recommendations, including the following: Basing financial reporting thresholds … Continue reading

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New Standards released for Charities operating overseas

When the ACNC was introduced, the legislation provided for the introduction of External Conduct Standards applicable to charities with overseas interests. Now, nearly six years on, Treasury has released the detail on these standards. The standards are intended to provide … Continue reading

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Fringe benefits provided to religious practitioners

The ATO has issued a draft tax ruling TR 2018/D2 expressing the Commissioner’s preliminary view of exempt fringe benefits provided to religious practitioners.  It replaces TR 92/17 immediately, but may be revised when the ruling is finalised. The law it … Continue reading

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