spacer
spacer
spacer
spacer



CPA LOGO
spacer
Latest News
Hot Issues
A 2022 Advent Calendar for our clients
Difference Between Leasing vs Hire Purchase
How Have Australians Reacted to Interest Rate Hikes?
FBT – Christmas Parties and Taxi Fare/Rideshare
Employee Christmas Parties and Gifts – Any FBT?
Big-end-of-town tax: miners, banks pay up, but for one-third it’s zip
Cash flow forecasting template
Buyback law closes loophole ‘but franking credits here to stay’
Budget October 2022-23-Comprehensive summary
Federal budget 2022 -- Winners and Loser
Federal Budget 2022/23 - Documents and Facts Sheets
Budget: all the key points you need to know
Sole traders cut back super, work longer hours
Small business debt and tax gap at top of ATO hit list
Christmas ‘crunch time for economy, inflation outlook’
What business needs to know about the skills and technology boosts
SMSF scam investigation sees call centre raided
How to avoid personal liability when dealing with DPNs
The Countries that Consume the Most Beer in the World
ATO’s interest charges hit highest level in seven years
Australian Taxation Office warns against asset wash sales
Take action on valuations now to avoid delays, says ATO
Australian Taxation Office-(ATO) reminder to small businesses this tax time
Why you need a contract of employment
Tax benefits for unused “carry forward” concessional superannuation contributions
Cyber security and work-from-home become key executive concerns
Largest wind power producers in the world
Chalmers revives 120% deductions for spending on skills, digital
What is Single Touch Payroll Phase 2?
Australian Taxation Office (ATO) reminder to small businesses this tax time
Articles archive
Quarter 3 July - September 2022
Quarter 2 April - June 2022
Quarter 1 January - March 2022
Quarter 4 October - December 2021
Quarter 3 July - September 2021
Quarter 2 April - June 2021
Quarter 1 January - March 2021
Quarter 4 October - December 2020
Quarter 3 July - September 2020
Quarter 2 April - June 2020
Quarter 1 January - March 2020
Quarter 4 October - December 2019
Quarter 3 July - September 2019
Quarter 2 April - June 2019
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 2 of 2019
Articles
ATO clears up FAQs about Single Touch Payroll
GST reporting: common errors and how to correct them
LRBAs, guarantees in need of review after property market falls
Victorian Property Valuation Cycle
Australia - toward EOFY 2019
Australian Taxation Office (ATO) expects 200,000 to miss out on refunds by failing to lodge
Biggest personal tax cuts in a decade a priority for Government
Government rules out GST changes following ATO report
ATO issues warning after ‘unprecedented’ spike in impersonation scams
Crypto transactions in ATO sights with new data-matching program
Government to establish $2 billion fund for small business lending
Small business corporate tax rates Bill is now law
ATO to double rental deduction audits to 4,500
ATO set to issue excess super contribution determinations
How's Australia going as we approach the election?
Single Touch Payroll (STP) is compulsory for all small businesses.
Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
FBT Reminder – Odometer Reading
‘Big awareness push’ underway as STP deadline approaches
GST collection on overseas goods at 300% of forecasts
The problem with getting to 53 years of age.
Lost Beneficiaries
New quarterly STP reporting method for closely held payees revealed
Some Australian figures to help on Budget night.
Employers hit with rolling SG audits as ATO toughens stance
ATO clears up FAQs about Single Touch Payroll

Ahead of the 1 July deadline for small business to be compliant with the new Single Touch Payroll (STP) regime, the ATO and professionals alike have cleared up some common points of confusion about associated AUSkey and myGov requirements.



     


 


The ATO’s project lead for STP, John Shepherd, joined a panel of professionals to discuss the practical implications of STP earlier this week. You can access the webcast here.


AUSkey requirements


A common point of confusion for small business is whether an AUSkey is required as part of STP regime.


Mr Shepherd clarified that whether a business will need its own AUSkey will depend on the type of software they use.


“Some products don’t require the employer to get their own AUSkey,” he explained.


The ATO’s website states the following around the use of an AUSkey for STP:


“Your software can connect directly to the ATO using a device AUSkey (more common for larger employers).


“Alternatively, your software may connect to the ATO using a software service ID (SSID) which is usually displayed by your software during the STP setup.


“You or your registered agent will need to provide the ATO with your SSID. To do this phone 1300 852 232, or complete a one-off notification through Access Manager (you need an AUSkey to use Access Manager).


“We will not be able to receive your STP report without the correct SSID.


“Another option is your software may connect to the ATO through a sending service provider (SSP). If this is how your software connects to the ATO, you do not need to contact the ATO to set up a connection. Your SSP will do this for you.”


myGov accounts


Small business owners will not need to open a myGov account to be STP compliant.


“myGov is a whole-of-government access to services, through one sign-in. What that allows you to do is to see that superannuation information that had been reported, as well as your STP information that’s been reported, so each inpidual can see that through there,” Mr Shepherd explained.


“But it won’t be mandated.”


He did, however, recommend that anyone who does not have such an account set one up, because of the availability of customised information through the portal.


“It is the way, if you want to get access to your income statement, that you will get that at the end of the year rather than from your employer anymore.


“We suggest it’s a good thing to do, because it gives you access to better services, better information about your inpidual circumstances ... and you also get access to all your super accounts and you can roll them over.”


Mr Shepherd also recommended that employers notify their staff ahead of the transition to STP that personal income summaries will no longer be issued, and that this information will be made available to them through their own myGov account.


New milestone


Mr Shepherd also revealed the ATO has hit a new milestone with STP, with over 100,000 employers now reporting through the new system.


He also talked through the ATO’s future plans with this and similar technology, which you can access here.


 


 


Adam Zuchetti 
16 May 2019
accountantsdaily.com.au


 




30th-June-2019
spacer
Privacy Policy | Disclaimer