If you have been reporting Single Touch Payroll (STP) to the ATO this financial year, you will need to make a finalisation declaration. This takes the place of employee payment summaries, which you no longer need to issue for payments reported through STP.
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With the outbreak of the Covid-19 virus, and the recent natural disasters around Australia, businesses and employers are having to adapt very quickly to new ways of working in order to cope with the challenge of this unprecedented situation.
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We hope that you will never have to deal with the impact of having your own or your client’s accounts breached by hackers! In today’s online world safety and improved security are paramount, especially for business owners and tax professionals who need to keep your own and/or clients’ information confidential.