The ATO reminds employers they need to keep on top of their payroll governance.  This includes:

  • using their tax and super software to record the amounts they pay;
  • withholding the right amount of tax; and
  • calculating superannuation guarantee (‘SG’) correctly.

As 30 June gets closer, employers should check their reporting obligations, along with any upcoming key dates, including for:

  • SG rate change — From 1 July, the SG rate will increase to 12%.  Employers must pay their SG contributions by 28 July in full, on time and to the right fund; and
  • Single touch payroll (‘STP’) reporting — Employers should remember to make STP finalisation declarations by 14 July for all employees the employer has paid during the financial year and also check their employees’ year-to-date amounts are correct.
  • Employers in the following industries are reminded of the need to prepare a Taxable Payment Annual Report (TPAR):
    • Building and construction
    • Cleaning services
    • Couri services
    • Road freight services
    • Information technology services
    • Security, investigation or surveillance services
    • Mixed services (provides one or more of the services listed above)

Should you require assistance with your year-end payroll obligations please contact our office.