• I've just started up my own business as a sole trader: what do I need to know about tax?

    Starting up as a sole trader changes the way you report income and pay your taxes. We can make sure that you're ready for the transition, no matter which industry you're from.

    Book a consultation
  • Need accounting software advice and support?

    Our extensive expertise in all aspects of accounting software means you can concentrate on what you do best – running your business. We are accredited Xero specialists and have been MYOB, Intuit and Reckon Partners for many years.

    Learn more about Our Services
  • We want to start our own business: how do we set up the company?

    At PBA Financial Group we specialise in the setting up of start-up and new businesses. We'll set up a solid foundation for your new business so that you can hit the ground running!

    Learn more about Our Services
  • I've always done my own tax returns without the help of an accountant

    More often than not, people who do their own tax returns will miss out on valuable deductions simply because they didn't know what they were entitled to claim, or they incorrectly claim expenses.

    Are you sure your tax return is as accurate as it could be?

    Book an appointment

Latest News

Single Touch Payroll (STP) – Phase 2

 

Single Touch Payroll will be expanded from 1st January 2022, with additional requirements.

 

 

Whilst the Australian Taxation Office are currently working with digital services providers to update their Single Touch Payroll enabled software, there will be additional information to submit.

Some of the key changes include:-

Disaggregation of Gross Income

Separately itemising items of gross income such as, allowances (separated by type), bonuses and commissions, directors’ fees, overtime pay, paid leave (and the type of paid leave), salary sacrifice,

Employment Status

Information such as employee cessation date and reason, employment basis such as casual, full time, part time etc and tax treatment (e.g. as claiming tax-free threshold, Medicare levy exemption and study loans, etc)

Income Type & Country Codes

Details of type of income (i.e. Salary and wages, working holiday, closely held payees, inbound assignees, etc).  Country codes may be required for payments to Australian residents working overseas or a working holiday maker, for example.

Lump sum payments

Lump sum E payments and Lump sum W (i.e. return to work) payments.

Child support garnishees and child support deductions

This will reduce reporting to child support registrar

 

 

AcctWeb

 

 

 

Hot Issues