StewartBrown Chartered Accounting Firm

News and Articles

Single Touch Payroll (“STP”)

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What is STP?
In summary, STP is a Government initiative to simplify business reporting obligations relating to payroll. Essentially all employers will be required to report payroll information to the ATO at the time of payment. STP will also streamline processes including tax file number declarations, Super Choice forms and notifications to super funds and government agencies.

When and who does it apply to?
From 1 July 2019, STP relates to all employers however depending on your circumstances there may be some concessions or exclusions available.

What to do?
After you’ve spoken to your StewartBrown Manager or Partner you will either need to set up, upgrade or implement an STP compliant solution. We urge you to consult with us to assist with the process, in particular when processing annual Income Statements and Finalisation Declarations.

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March 2019 Aged Care Sector Financial Performance Survey

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This Sector Report is for the period ending March 2019 of the largest benchmark survey of Australia’s aged care sector – the StewartBrown Aged Care Financial Performance Survey. This quarterly survey takes in financial and supporting data from over 1,011 residential care homes, and over 26,386 home care packages (498 home care programs) nationally. The survey offers insights into the trends and drivers of financial performance at the sector level and at the individual residential and home care levels.

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Federal Budget 2019 - How will it impact you and your business?

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The Federal Budget has been delivered and has focused on infrastructure and essential services spending as well as income tax relief for low and middle income earners and business tax relief. Unsurprisingly (on the eve of a federal election), the budget is a somewhat safe and uneventful one, and rather than containing any major changes to the current tax base, has focused on minor tweaks and changes to what we already have.

As with all Budgets, these are announcements only and have not been legislated. The details are still to be worked through, and both Houses of Parliament need to pass legislation before the announcements take effect. Parliament won’t consider these announcements until after the Federal election, expected in May this year, so more than normal, the passage from announcement to legislation is uncertain.

The key tax (personal and business related) and superannuation highlights of last night’s Budget are summarised below:-

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Fringe Benefits Tax (“FBT”)

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FBT

The FBT year ends on 31 March 2019 and each employer is required to calculate their liability for FBT. Where a liability for FBT exists, an annual return is required to be lodged and any tax paid by 21 May 2019. However, if the return is lodged electronically by a Tax Agent the due date of lodgement is 25 June 2019 while the payment due date is 28 May 2019.

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StewartBrown Financial Advisory march 2019 investment update

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Given the upcoming federal election and the likelihood of the Australian Labor Party (ALP) winning the election, we wanted to bring you this update on the proposed changes we believe will impact clients and how we are positioning client portfolios to get ready for this change.

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Sydney Office

StewartBrown
ABN: 63 271 338 023
Level 2, Tower 1,
495 Victoria Avenue

Chatswood, NSW, 2067
Tel: (02) 9412 3033
Fax: (02) 9411 3242
info@stewartbrown.com.au


StewartBrown Advisory Pty Ltd
ABN: 19 143 011 750
AFSL: 355134
Level 2, Tower 1,
495 Victoria Avenue

Chatswood, NSW, 2067
Tel: (02) 9412 3033
Fax: (02) 9413 4202
info@stewartbrown.com.au

Adelaide Office

StewartBrown
ABN: 63 271 338 023
Level 1,
104 Frome Street

Adelaide, SA, 5000
Tel: (08) 8229 2280
Fax: (08) 8229 2288
info@stewartbrown.com.au

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