The end of the financial year is coming, and FY2020 will be here in just 2 days, John from EndureGo Tax will share with us in this video how to manage the Single Touch Payroll and the better tax deduction method for the special levy for your business, as of 1 July 2019, Every business in Australia who has one or more than one employee.
The regime of the Single Touch Payroll will mean you must report to the ATO at every wage payment cycle whether it is weekly, fortnightly, or monthly.
The following information must be provided to ATO, with which include,
- The name of the employee
- Tax file number
- Gross wage
- PAYG withheld
The super paid and the super company. It is a reporting obligation for the employer, and failure to do so will have the potential of having a failure to lodge a penalty. As one of the most experienced and professional accountants and tax agents in Sydney and Adelaide, we are here to help you, one of our Single Touch Payroll Specialists will talk with you and make sure your business is all ready for the Single Touch Payroll, we take care of your Single Touch Payroll hence you can take care of your business.
Another key concern in the coming financial year would be the imposition of the special levy for certain apartment owners, whos apartments had been reported as having structural issue, apartments like Mascot Tower, , Opal Tower, Wolli Creek. If your apartment is needing to pay special levy, or capital work levy, please watch the video, as John will explain the difference between special levy, and normal admin levy, and that special levy sometime is not deductible, as it is to do with capital work of the common area. As one of the most experienced, and professional accountant and tax agent in the Inner West Sydney and Adelaide, we will help you to maximize the tax benefit of your rental property, and to ensure all the money you paid to the strata levy will be able to help with your tax.
Please give John from EndureGo Tax on 0410-829-900 a call hence he can help you with the rental property and single touch payroll