The ATO has recently sent out an update to businesses called "Are you ready for tax time?"

Most of the updates are about using appropriate software more and ensuring the correct receipts and records are kept.

The most important action for business owners coming up are:

1. STP Finalisation: i.e., lodging the Single Touch Payroll (STP) reports by 14 July 2021. This should be easily done through your software and if not, time to change software!  Contact us on BDTeam@Primarius.net.au
2. SG change: the super guarantee or compulsory super for employees goes up to 10% as of 1 July 2021.
3. Temporary full expensing: the instant asset write-off and temporary full expensing of depreciating assets for business continues. Read the fine print to ensure you qualify.

Read the full ATO update - just click here.

Remember - the ATO cannot provide advice and are not bound by any advice they give you, so contact us if you need advice relevant to your situation, just email us at BDTeam@Primarius.net.au