4th Quarter 2018

21 APRIL 2018

• March 2018 monthly activity statement - due date for lodgement and payment.

Using the simplified depreciation rules, assets costing less than the instant asset write-off threshold are written off in the year they are bought and used, or installed ready-for-use. This applies irrespective of whether the asset is purchased new or second-hand.

The current threshold is $20,000.

Single Touch Payroll (STP) is mandatory for 'substantial employers' (those with 20 or more employees) from 1 July 2018.

From 1 July 2018, GST will apply to sales of low value imported goods (valued at A$1,000 or less) to consumers in Australia. These GST changes will also affect Australian GST-registered suppliers including Australian retailers who 'drop ship'.