It is the way you report your employees’ tax and super information to the ATO. It requires employers to report this data to the Australian Taxation Office (ATO) with each pay run, ensuring real-time accuracy and compliance. We can play a crucial role in navigating the complexities of STP. Firstly, we can assist in setting up and configuring STP software to seamlessly integrate with the company’s payroll system. Secondly, we can ensure accurate and timely reporting, avoiding penalties and non-compliance issues. Furthermore, we can keep you updated on STP legislative changes, helping businesses adapt and remain compliant with evolving regulations.

The Business Activity Statement (BAS) is a crucial component of the Australian tax system, requiring businesses to report and remit various taxes such as Goods and Services Tax (GST), Pay as You Go (PAYG) withholding, and other obligations. This statement is typically lodged either monthly or quarterly, depending on the business’s turnover. We specialize in providing comprehensive assistance with Business Activity Statement (BAS) preparation and lodgement. Our experienced team can efficiently compile and organize your financial data, ensuring accurate reporting of GST and other tax-related transactions. We also offer expert guidance on claiming eligible input tax credits and deductions, optimizing your tax position. With our support, you can confidently navigate the BAS process, adhere to regulatory requirements, and focus on your core business activities.

It is a tax reporting requirement in Australia that involves businesses making regular payments toward their expected income tax liability and employers fulfilling the PAYG withholding Tax Liability. These payments are made in instalments throughout the financial year, helping businesses manage their tax obligations more effectively. Depending on the size of Payroll you may have to lodge IAS on a monthly or quarterly basis. We can provide valuable assistance with the Instalment Activity Statement (IAS) process. Our expertise lies in accurately calculating the required instalment amounts based on your business’s projected income and withholding tax liability. With our guidance, you can optimize your cash flow, avoid underpayment or overpayment penalties, and maintain compliance with tax authorities.

As business owners, we universally recognize that our employees constitute our most valuable assets. In an effort to foster employee loyalty, business owners’ endeavour to provide incentives beyond salaries. When extending non-salary perks to your staff, such as company cars, housing, gym memberships, and entertainment expenses, you incur the responsibility of FBT reporting. Maintaining distinct records for FBT is crucial, as it enables your accountants to accurately calculate taxes for your fringe benefits. FBT reporting occurs on an annual basis, with the reporting year spanning from 01 April to 31st March, distinct from the financial year. Many business owners perceive the tax system as complex, which sometimes deters them from extending benefits to their employees. Our proficient team of accountants specializes in simplifying the intricacies of Fringe Benefit Tax (FBT), making it more accessible for business owners. We offer assistance in precisely identifying, calculating, and reporting the fringe benefits offered to your employees. With our guidance, you can effectively navigate the detailed FBT regulations and exemptions, thereby maximizing benefits while minimizing tax obligations.