Hawkesbury Bookkeeping

Affordable Bookkeeping Solutions for your Small Business

Superannuation

Changes to AusKey

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Don’t forget that from the end of March you won’t be able to use AUSkey anymore. It is being replaced because it hasn’t kept up with modern technology.

AUSkey will be replaced with:

  • myGovID – the Australian Government’s digital identity provider and a new way to prove your identity online. Establish your identity once and use your myGovID to access government services online.
  • Relationship Authorisation Manager (RAM) – a new Australian Government authorisation service that allows you to link your myGovID to your ABN and manage who can act on behalf of your business online.

You can already use these new services for the Business Portal.

Get started today by downloading the myGovID app and setting up your digital identity. Then using RAM; link your ABN to your myGovID so you can work on behalf of your business online.

For more information on accessing online services with myGovID and RAM, please click here.

Is your employee super up-to-date?

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Single Touch Payroll (STP) reporting, combined with improvements in super funds’ reporting through the Member Account Transaction Service (MATS) means that the ATO now has near real-time data to show employers’ compliance with their super guarantee (SG) obligations.

The ATO will use this data to help prevent and correct late or under-payment of employer superannuation guarantee contributions.

If you have not met your SG obligations, the ATO may be making contact to:

  • request lodgment of super guarantee charge statement(s), if you have paid late or under-paid SG obligations in a previous quarter
  • remind you to pay their current quarterly SG obligations by the due date

If you need help in getting your superannuation in order, please Contact Us or Book a Chat.

Information provided by the ATO

Want to know more about Superannuation Guarantee?

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Are you confused about Superannuation Guarantee or want to make sure you are getting it right for your employees?

The ATO website has loads of information plus the products and tools to help you understand what you need to do for super as an employer.

They have recently published a free online course on Super Guarantee Employer Obligations. It is designed to help employers understand their obligations to pay super for eligible employees.

The course is free and is available on the ATO website. The course takes around 2 hours to complete and will result in the following learning outcomes. You will understand:

  • the importance of paying super guarantee
  • the circumstances in which it is payable
  • the steps to setting up super for your employees
  • how to calculate super guarantee
  • how to lodge and pay super guarantee
  • what to do when a super guarantee payment is late or missing
  • your record-keeping requirements.

Click here to access the free ATO web course.

You can also find out more about Super for Employers by clicking here.

Don’t want to pay for STP Software?

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If you run a small business and manage your payroll manually, you’re not alone but Single Touch Payroll is now here and it’s time to look at managing your payroll utilising software.

Manually managing your payroll may feel like a low-cost solution however it’s probably costing your business much more than you think. If you’re worried about spending money on a software system, there are affordable software solutions available and you will also find that these systems save you so much time and money.

Here are three reasons why:

Payroll is time consuming

It takes time to process employee hours and errors may occur. An online accounting solution gives you the option to have your employees enter their hours into an ap.

Time saving!

Single Touch Payroll is here

STP requires business owners to be reporting their payroll activity every time a pay run is processed. This requires an approved software solution.

Single Touch Payroll reports wages and salaries, PAYG withholding and superannuation directly to the ATO. Your employees can then access their payroll data via the my.gov.au website.

You need to comply.

Save yourself some money

An online accounting solution will save you a lot of time and our packages start at just $19 a week. Whilst you may think you’re saving some money without software in place, you will probably find that it’s actually costing your business money.

Affordable!

Book a Chat with us today or Contact Us to see how affordable and easy it is to have a software system in place.