1st Quarter 2019

16 JULY 2018

• Payers must issue 2017-2018 PAYG Withholding payment summaries to payees (that is, employees and other workers).

TEMPORARY BUDGET REPAIR LEVY

The temporary budget repair levy of 2% has finished and no longer applies for 2017–2018.

SINGLE TOUCH PAYROLL BEGINS 1 JULY 2018 FOR EMPLOYERS WITH 20 OR MORE EMPLOYEES

Single Touch Payroll is a reporting change for employers. You will report payments such as salaries and wages, pay as you go (PAYG) withholding and superannuation information from your payroll solution each time you pay your employees.

The Australian Taxation Office (ATO) is changing the way they collect goods and services tax (GST) on some property transactions during the settlement process.

From 1 July 2018, buyers who purchase new residential premises or potential residential land need to withhold an amount from the purchase price and pay it directly to the ATO on or before settlement.