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HOW THE ATO MANAGES DEBT ... The ATO considers your behaviour, individual circumstances, lodgement history and payment history when determining the most appropriate action for a tax debt.
Some individuals may occasionally experience temporary cash flow issues that prevent them from making payment. The ATO offers payment plans to help with this. * Support for clients experiencing serious hardship is available in some circumstances.
Prevention & Support
To make it as easy a
PAYG Instalments are due to be paid and lodged by 28th February. Pay as you go (PAYG) instalments is a system for making regular payments towards your expected annual income tax liability for the current year.
If you're required or choose to pay quarterly, the ATO will send you either an activity statement or an instalment notice at the end of each quarter. You need to pay the amount due, by 28th February. The amount will be 25% of your PAYG instalment liability for the inc
STP FOR ALL EMPLOYERS – WHAT IS IT AND HOW DOES IT AFFECT YOU? STP is now a requirement for all businesses who employ any number of staff as of 1 July this year so you must not ignore this new obligation which is awaiting Royal Assent but passed through parliament this week.
STP is a computerised Single Touch Payroll reporting system. You must lodge with the ATO via a STP ready software every time you process a pay.
If you currently use a STP-ready software, and manag
Single Touch Payroll (STP) is a way of sending tax and super information to the ATO from your payroll or accounting software. It allows you to upload payments to employees such as salaries and wages, PAYG withholding, and super information.
Employers with 20 or more employees
STP reporting started from July 1st 2018 for substantial employers (with 20+ employees). If you had 20+ employees on April 1st 2018, you will need to report through STP from July 1st 2018 even if your
In the 2017-18 Budget, the government announced that foreign residents will no longer be entitled to claim the main residence exemption when they sell property in Australia. This change is not yet law and is subject to parliamentary process.
If the law is passed and you are a foreign resident when a CGT event happens to your residential property in Australia, you may no longer be entitled to claim the main residence exemption. For property held prior to 9 May 2017, the exem