September 2019 Newsletter


Single Touch Payroll – The final reminder before it starts happening! 
As mentioned in previous editions of S & W Insight, and as a final reminder before it starts happening, as from 30 September there will be changes applicable to the reporting for wages and super information for employers. This is called Single Touch Payroll (STP). In our article we outline what is STP, how does it work and what information will be in the STP report.

From 1 July 2019 your insurance cover in your superfund maybe changing! 
In February this year, the Government passed legislation which prevents trustees of APRA-regulated funds from providing insurance to members with inactive superannuation accounts, unless a member has directed otherwise.

Our article outlines the common practice for many individuals with a SMSF to also have a secondary APRA-regulated fund.  If this applies to you, please click here to read our full article on what you should do.

It is even more important to get the PAYG withholding right now! Changes from 1 July 2019!
From 1 July employers can only claim tax deductions for payments to workers (employees or contractors) where they have complied with the Pay As You Go (PAYG) withholding and reporting obligations for that payment. If you are paying employees or contractors, please click here to view our article.

Industries with new reporting requirements – road freight, IT and securities industries 
Are you in the road freight, IT or security industry?  Did you know that from the 2019/2020 financial year you will now be required to report TPAR (Taxable Payments Annual Reporting). Please click here to view our article.

S&W have moved back to the 1st floor
We are pleased to announce that we have officially moved back up to Level 1 at 34 Burton Street. This includes our reception and all our meeting rooms. We no longer have access to the offices on the Ground Floor.

Could you please change your records to show our address as 1st Floor, 34 Burton Street Kirribilli. Our postal address of PO Box 50, Milsons Point NSW 1565 has not changed.

The refit has gone very well and we look forward to welcoming you to our new meeting rooms on Level 1.

Thank you for your patience during our renovation. I think you will agree when you visit us that it has been worth the wait, as the new rooms look fantastic.

Any queries don’t hesitate to contact us.

Kreston Stanley Williamson Team

*Correct as of September 2019

*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.

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