Auctus Advisory


Posts tagged Business
Single Touch Payroll: Are You Ready?

If you run a business, you've probably heard a lot about Single Touch Payroll (STP) recently, so what is it and how does it affect you? Basically, STP aligns your reporting obligations to the ATO to your payroll processes. Each pay cycle you send information to the ATO including employees' salaries and wages, allowances, deductions, other payments (ie termination of employment, unused leave or parental leave pay), PAYG withholding and superannuation.

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Improvements to GST risk assessment

The Inspector-General of Taxation (IGT) has recently released his review into the verification of GST refunds by the ATO. The review was initially conducted as a response to concerns raised by taxpayers which had their GST refunds delayed as a part of the ATO risk assessment program to verify certain details before refunds are issued.

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Simon WilsonGST, Tax, Business, Risk