Tips for Better Financial Management
Lodging your Business Activity Statement (BAS) accurately is crucial for complying with Australia’s tax laws. The BAS is used to report and pay various tax obligations, including Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, and other taxes. However, the complexity of BAS can lead to errors that might result in penalties, […]
The Ultimate 9-Step Checklist for Year-End Single Touch Payroll (STP) Finalisation
Closing the year-end payroll in Single Touch Payroll (STP) is a meticulous task that requires thorough attention to detail and strict adherence to the Australian Taxation Office (ATO) requirements. This comprehensive checklist covers each essential step, ensuring a smooth and compliant year-end payroll process. Table of Contents 1. Review and Update Employee Information 2. Reconcile […]
Streamlining Payroll for Australian Small Businesses: A 6-Step Guide
Navigating employee payroll processing for your small business can be a challenge. In this quick guide, we’ll break down the essentials in just 6 steps, helping you manage payroll efficiently. Table of Contents 1. Collect Employee Info 2. Choose a Schedule 3. Calculate Gross Pay 4. Deduct Taxes and Superannuation 5. Issue Payments 6. Maintain […]