Y Partners Blog

You may have heard about Single Touch Payroll (STP). Single Touch Payroll is a reporting change for employers and has already taken effect from 1 July 2018 for employers with 20 or more employees. However, for employers with 19 or less employees, STP will take effect from 1 July 2019. This is subject to legislation being passed by parliament. Read more…
Enhancements in technology and data matching mean the ATO is able to detect people and businesses operating outside the tax system this tax time. The ATO are keeping a watchful eye and looking out for behaviours, characteristics and tax issues that may raise questions and attract their attention. Read more…

Federal Budget 2018 Snapshot

On Tuesday 8 May, the federal government handed down its Budget for the 2018-19 financial year. This is the third budget delivered by Treasurer Scott Morrison and is likely to be the final Budget before the next federal election.

According to the Treasurer, this year's Budget measures aim to provide tax relief to ordinary Australians, while supporting small-to-medium businesses and improving Australia's essential services. The Treasurer claims that these measures will help to end Australia's decade-long deficit and return a modest surplus of $2.2 billion by 2019-20. Read more…