• You need to be paying and reporting super electronically using the new SuperStream format by 28 October 2016.

If you're currently using cheque or direct deposit, you need to make the switch now.

Even if you're already paying by EFT or BPAY directly to super funds, you may still need to make some changes to your reporting to get across the line.

Get help with our SuperStream webinar - sign up today!

We're running free webinars designed to help you understand SuperStream and the steps you need to take to implement SuperStream.

Next webinars:

• Wednesday 5 October 2016 10:00am AEST
• Saturday 22 October 2016 11:00am AEST.

Small Business Superannuation Clearing House
A free service that distributes super contributions to employees’ nominated funds in one transaction. You will meet SuperStream standards when you use the clearing house service.

Find out about:

• SuperStream employer checklist
• Using the Small Business Superannuation Clearing House

Register for Xero Auto Super if your subscription is Business Standard or higher

Using Xero Auto Super 

Send us an email or give us a call to discuss setting this up - we are always here to assist :)

"We've become aware of scam email designed to mislead our customers into making a payment. The email is titled 'Request for ASIC correspondence reprint' and states that the customer has requested an invoice reprint. The email also contains a link to download the invoice.

The invoice has not been issued by ASIC. If you receive this fraudulent email, please delete it."

​For further details click here.

A reminder for those of you in the building and construction industry that paid contractors in 2015-16, your Taxable payments annual report is due 28 August 2016.

Here are four simple tips to get it right:

• Check your contractor’s ABN and GST registration details as you deal with them through the year to make sure you correctly report them. To do this - use the ABN lookup tool or the ATO app. Report each contractor’s ABN, the total GST and gross amount paid to them for the year, in the correct fields.
• Show whole dollar amounts – ignore the cents
• Lodge online - make the process quick and easy this year by lodging online. All you need is an AUSkey and business software that can generate the annual report.
• Tell us if you don’t need to report – if you’re no longer in the building and construction industry or didn’t pay contractors for the year, let us know by completing the simple online form on our website. That way we will know not to contact you further about it.​

The Australian Competition and Consumer Commission (the ACCC) is warning Australians to steer clear of tax scams, after more than $1 million has been reported lost to their "Scamwatch" already in 2016, with over 300 people reporting they lost money to tax scams in the first half of 2016.

According to the ACCC, these scams often use personal information found online and ask for payment for "unpaid debts".

Scam phone calls often look like they come from local phone numbers but most use voice over internet protocol (VOIP) phone numbers to disguise the fact that they are calling from overseas.

While it does make outbound calls to taxpayers, the ATO said that it would never "cold call" taxpayers about unpaid debts, would never threaten jail or arrest or behave in an aggressive manner. Further, while it does send taxpayer emails, SMS messages or official social media updates about new services from time-to-time, the ATO will never request personal or financial information by SMS or email. If personal details were required, the recipient would be redirected to ATO online services.

To check whether an email or a call is genuine, call the ATO on its official contact number, 1800 008 540. Suspected ATO email scams can be reported by forwarding the original email to ReportEmailFraud@ato.gov.au. Scams can also be reported to the ACCC via the Scamwatch report a scam page or by calling 1300 795 995.

As an employer, you must give each of your employees a payment summary at the end of the financial year. The payment summary must show the payments you have made to them and the amounts you withheld from those payments. Payment summaries should be provided to your employees by no later than 14 July.

It is important that you provide payment summaries to all your employees, even if you were not required to withhold any tax. You are still required to include these payments in your payment summary annual report that you send to us.

​If you would like assistance with preparing your Employee Payment Summaries make sure you contact us now.

Making sense of workers' compensation is a webinar aimed at small businesses.

In just 20 minutes you can find out why WorkCover insurance is so important, and how it protects your business and your workers.

A copy of the recording is available here.

Our workers' compensation accident insurance policy renewal season starts on 1 July.

We've outlined three steps to help employers declare their wages so they can have peace of mind that their workers and business are covered when they renew their policy from 1 July. 

Find out more here.

WorkCover Connect, the online service for Queensland businesses to manage workers’ compensation, is about to get even better.

From 4 July you can create task reminders, contacts and file notes, save your own resource tools, plus access new reports and analytics to help your business.
Login or register here.

Are you thinking about buying assets to help your small business grow? Now is the time to buy! If you use the simplified depreciation rules you use the $20,000 write-off threshold.

Simplified depreciation rules can get a bit tricky, so here's how to get it right and make sure you claim everything you're entitled to.

1. If you buy assets that cost less than $20,000 claim each of them in full as a deduction in your tax return at the end of the year.

2. For assets that cost $20,000 or more group them into what is called a small business pool.  
    - In your tax returns claim 15% of the pool in the first year then 30% of the pool each year after that, as a depreciation deduction.
​
3. If the balance of your small business pool falls  (before you deduct the 15% or 30%) claim this amount in full as a deduction in your tax return at the end of the year.

The ATO has updated their information on simplified depreciation to make it easier for you to understand and know what assets are eligible; see the link below to continue reading.

​Find out more: Simpler depreciation for small business.

If you run a small business that has 19 or fewer employees, you have until 30 June 2016 to start using SuperStream.

With SuperStream you will only need to make one electronic transaction to cover all your employees' super contributions. It's easier and will save you time.

The ATO is running free webinars to help you learn about SuperStream and understand your options. To ensure all employers have an opportunity to attend one of these webinars, the ATO is scheduling more, including on weekends. The ATO will continue to schedule extra webinars as they book out.

Find out more by using the SuperStream employer step by step checklist.

You may think that your workers are contractors because they invoice you – but this is a myth.

​Receiving an invoice from a worker is not a deciding factor on whether they’re an employee or contractor. You need to consider the whole working arrangement so that you are clear on your tax and super responsibilities for them.

So how do you get it right with your workers?

• Employee/contractor decision tool 

Use the ATO's Employee/contractor decision tool to get a quick and reliable answer. The tool will tell you if your worker is an employee or contractor for tax and super purposes and what this means for your business.

• Webinar

Register for the ATO's free Employee or contractor webinar to help you understand your obligations in more detail – the sessions are interactive if you have questions you’d like to ask.

Find out about:
Employee or contractor