• If your employee’s gross wage reaches $450 per month, even he is a part timer or on student visa,
• For an employee who is less than 18 years old, he needs to be working more than 30 hours a week on top of earning at least $450 per month.
• SG needs to be paid within 28 days of the end of each quarter.
Single Touch Payroll (STP) is an ATO compliance regulation that requires employers to send employee payroll information including gross salary, wages, PAYG withholding and superannuation to the ATO at the same time as their standard pay run. These information need to be reported to the ATO via a STP enabled accounting software.
SuperStream is the way business must pay employee superannuation guarantee contributions to super funds. With SuperStream, money and data are sent electronically in a standard format between employer, super fund, service provider and the ATO.
At ML Tax Solution, we can help you to choose and to set up an accounting software which as the function of STP and SuperStream reporting. We can also help you or train you how to process STP and SuperStream.
Contact us on firstname.lastname@example.org or 03 95338980 if you would like to take the burden off your shoulder for STP and SuperStream.
The Audit Shield insurance policy is not compulsory although we highly recommend that all of our clients take up the insurance. Consolid8 receives a portion of the premium and we hold the policy on your behalf. The policy covers one financial year and we will contact you prior to arrange renewal in advance of the relevant expiry date. The Audit Shield Insurance is not automatic and you must opt in to receive the cover.