What is Single Touch Payroll? Single Touch Payroll is a compulsory reporting change for employers. Single Touch Payroll will be expanded to include employers with 19 or less employees from 1 July 2019. (Compulsory reporting for employers with 20 or more employees across all grouped companies, came into force 1 July, 2018.) You will need to report to the Australian Taxation Office (ATO) payments such as salaries and wages, pay as you go (PAYG) withholding…
Recently the government introduced measures regarding withholding tax that has the potential to affect any business. The new legislation denies a tax deduction to the payer where they have a withholding obligation that has not been met. Commonly this will affect salaries, wages, commissions, bonuses or allowances to an employee, directors fees and payments for a supply of services.
Recent warnings from the Australian Taxation Office (ATO) and Australian Securities & Investments Commission (ASIC) has highlighted the number of fraudulent and unsolicited emails, SMS and phone calls.
Scammers, pretending to be from these organisations have been contacting people asking them to pay outstanding debt and fees and to disclose personal information.
Comprehensive Credit Reporting is a change to credit reporting by banks in Australia. In line with other financial service providers, and a number of banks have elected to participate immediately. Under the new comprehensive credit reporting system, your credit reports will show more information about your credit behaviour for home loans, credit cards and personal lending applications.