ATO Obligations

ATO Obligations

ATO Obligations

Put your mind at ease and ensure your business maintains its obligations to the ATO. We’ll reconcile your accounts monthly or quarterly and report to you on their status. From there, we’ll generate the required report and lodge it with the ATO. With Thats Right Bookkeeping on your side, you can rest assured your reporting is accurate and ATO compliant.

Payroll Tax

Depending on the amount of wages you pay, you may be required to pay payroll tax. This amount is taxed on wages and super and is due monthly or annually. From 1 July 2019 in Victoria, if your monthly payroll exceeds the threshold of $54,166, you’ll be required to contribute tax at 4.85% (2.425% for regional employers). TRB will carefully mind your payroll as your business grows to ensure you’re paying the correct amount of tax on your employee’s wages and super.

BAS (Business Activity Statements)

As registered BAS agents, we’re your top resource to ensure your Business Activity Statements are lodged on time. Your BAS is required to be lodged quarterly or monthly once you’ve registered for GST. Your BAS will include your: -PAYG summary -Goods and services tax (GST) -PAYG withholding tax -Any other taxes We’ll fill in the necessary fields, lodge your statement and advise whether you’ll need to pay or you are due a refund.

IAS (Income Activity Statements)

Are you required to lodge an IAS? If your annual PAYG withholding from your employees’ wages is between $25,000 and $1 million you’ll be required to lodge. Your IAS will show your gross monthly wages and the PAYGW (the tax withheld from payroll). We’ll lodge this with the ATO on your behalf. Your PAYGW will then be payable to the ATO by the 21st of the following calendar month.

Super Lodgements

Super shouldn’t be another stressor in your business finances. At TRB, we can process your employees’ super entitlements weekly, monthly or quarterly regardless of the super fund your employee chooses. Upon lodgement, we’ll send you BPay details of each required payment from your bank.

TPAR Lodgements

Does your business need to lodge a TPAR? A TPAR is your Taxable Payments Annual Report and may be required if you’re a business providing: -Cleaning Services -Courier or Road Freight Services -IT Services -Security, Investigation or Surveillance Services   If you need help understanding your TPAR requirements, we can advise you on meeting your obligation or filling the ‘not required to lodge’ TPAR.