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A MESSAGE FROM OUR DIRECTORS Hello and welcome to the December issue of the Bongiorno newsletter. This month, we turn the spotlight on Single Touch Payroll, an issue that will soon have tax implications for all employers. We also showcase our new Managed Discretionary Accounts offering, outline why it’s important to review your insurance regularly, and look at the great work of RACS when it comes to supporting its younger fellows. As always, scroll to the very end for important tips, advice and dates. We’d also like to take this opportunity to wish you the very best for the festive season. Just so you know, our office will be closed from 22 December until 7 January. We look forward to working with you again in the New Year! Steven Wilkie Director |
SINGLE TOUCH PAYROLL (STP) WILL AFFECT ALL EMPLOYERS
MANAGED DISCRETIONARY ACCOUNTS – YOUR INVESTMENT IS IN GOOD HANDS
INTEREST ONLY LOANS – ARE YOU READY TO PAY MORE?
SCAM ALERT!If you receive a call from someone who says they’re from the ATO, telling you that you have a tax debt that must be paid NOW, please DO NOT act. This is a scam. Only act on correspondence from Bongiorno. GIVING NEW DOCTORS A CHANCE TO EXPERIENCE THE WORLD.
NO MORE TAX DEDUCTIONS FOR NON-COMPLIANT WAGES PAYMENTS.The Government is trying to make it harder for the Black Economy to function. If certain boxes aren’t ticked, like withholding tax for casuals, part-timers, full-time staff or contractors without an ABN, you will miss out on critical tax deductions. This measure is closely linked to Single Touch Payroll and will apply from 1 July 2019. There are already administrative penalties for failure to withhold income tax, however this new rule is in response to the Black Economy Taskforce Report, i.e. it makes it much easier to detect any non-withholding or thwart phoenix-type activity. WHY REGULAR INSURANCE REVIEWS MATTER.
UPCOMING DATES
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