SPV Accounting has the experience!
Our aim, is to provide personalised business, accounting, taxation service and advice.
We are a family run business with a fantastic team of professional staff.
Please call to arrange an obligation free consultation to see if we are a business that can satisfy your needs.
To help you prepare for your visit to our office we have uploaded checklists that we use to help prepare your financial statements and tax returns.
If you are unable to come to our office, these checklists will help you organise your information to either post or email us.
Click the relevant links below to download to your computer:
Read Our December Newsletter for Full Details
Merry Christmas and a Happy, Healthy & Prosperous 2019
Everyone at SPV Accounting wishes their valued clients a merry and safe Christmas and a Happy, Healthy and Prosperous 2019.
We look forward to working with you and helping you achieve your goals in the new year.
This office will be closed for some Christmas cheer from Midday Friday 21 December 2018 and will re open Monday 7 January 2019.
December 2018 BAS
The December 2018 Business Activity Statement is due to be lodged and paid by Thursday 28 February 2019. Everyone gets this extension.
If you engage our office to prepare these statements, please have your records to us by Thursday 31 January 2019 to allow our office enough time to complete your BAS by the due date.
9.5% Super Guarantee
Unfortunately, you do not get the Christmas extension for this.
If you have employees and you pay them more than $450 (gross) in a calendar month you are liable to contribute 9.5% into their nominated superannuation fund. This can only be done using a superstream. That is, you declare how much super you are liable to pay to a super clearing house. The super clearing house then distributes these funds to the employees nominated super fund. Please note, this needs to be paid by 27 January 2019. You should allow for at least 7 days for the super clearing house to process this payment, therefore, you should aim to complete the clearing house online paperwork by the 20 January 2019.
If you are not sure on this process please feel free to give us a call.
What is Single Touch Payroll?
Single touch payroll is a new ATO initiative aimed at online payroll reporting. It's a way for employers to lodge the payroll of employees directly to the ATO.
How does it effect me?
Digital connectivity is becoming a necessary part of running a business in Australia, and STP compliance is just one benefit of adopting the cloud.
Instead of typically reporting payment once at the end of a financial year, certain employers will now be required to send information to the ATO with every pay run.
If you have between 4 - 19 employees you nay need to look at your current payroll system to see if you are or will be compliant by 30 June 2019. If you currently run payroll on Xero, QBO, MYOB (essentials or the latest version of Account Right) or similar cloud accounting software then a few simple steps is all that you might require to do. If you don't currently use these types of software, for payroll, you may need to look at some alternatives.
The senate, as recently as the 5 December, passed the bill that will enable the Single touch payroll regime to begin 1 July 2019 for employers with 1 - 19 employees. There is going to be very few carve outs:
If you have up to 4 employees, the ATO have started to consult with digital service providers to provide low cost alternatives. Some of these alternatives will cost less than $10pm. We will wait to see what this offering is;
Exemptions to STP (Single Touch Payroll) reporting will also be available to businesses that have no internet or an unreliable connection.
We will endeavour to contact you sometime in the new year when the final details of STP have been released.