News

‘Cash in hand’ payments to workers no longer tax deductible

From 1st of July 2019, the ATO reminds employers that any ‘cash in hand’ payments will not be considered tax deductible.

It is important that employers comply with their pay as you go (PAYG) withholding obligations.

Should contractors not supply their ABN and the business does not withhold any tax, these payments will also not be tax deductible from 1 July, 2019.

In addition to the loss of a tax deduction, penalties will be imposed for employers who are caught not complying with their PAYG obligations for failing to report correct amounts under the PAYG withholding system.

What is Single Touch Payroll?

What is Single Touch Payroll?

As of 1st July 2018, Single Touch Payroll was introduced to businesses of 20+ staff. This year from 1st July 2019, businesses with fewer than 20 employees and businesses that had extensions granted will also have to start reporting using Single Touch Payroll. Are you ready for the switch?

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What is Single Touch Payroll? | Aspect Accountants and Advisors

Meet The Aspect Accountants and Advisors Team

Meet The Aspect Accountants and Advisors Team

Here at Aspect Accountants and Advisors, it is of utmost importance we understand each and every one of our clients. With this in mind, and to ensure each client feels their most comfortable, we invite you to get to know each of the Aspect Accountants and Advisors team.

So, without further ado, please give a warm welcome to Aspect Accountants and Advisors Senior Accountant; Janette Gray!

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Meet the Aspect Accountants and Advisors Team Member Janette