Newsletter

WINDING UP

When you first set up an SMSF it is generally because it meets your needs at that time. But, as we all know, things change and an SMSF might not always be right for you. You should regularly review your circumstances and decide whether to continue with your SMSF - or if you should wind it up.

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.