Posted on June 16, 2019
by LynPB
Please note this show is for our Australian listeners only.
In this special episode we interview Pauline Pickering, director of Globe Accounting and small business accounting specialist on the new Australian Single Touch Payroll system, and the superannuation guarantee, and discuss any issues there may be for VAs.
The Single Touch Payroll system (STP) may affect some VAs who pay themselves a wage or who have family members assisting them from time to time they are paying. And did you know if you are a sole operator structure you can’t pay yourself a wage? Instead you’ll take drawings.
A recent VA blog post raised the issue that VAs are eligible for superannuation so we discuss this with Pauline and whether this allegation is actually accurate or the information shared is oversimplifying things. Note, if you operate as a company, trust or partnership structure the superannuation guarantee legislation does not apply to you.
(As this episode is an interview recording the audio quality is slightly different to previous shows.)
© Lyn Prowse-Bishop – The Virtual Business Show
Reference Links:
Globe Accounting Pty Ltd
Globe Accounting Facebook
ATO – Single Touch Payroll
ATO – Contractor example for employers
ATO – Superannuation entitlements for contractors
ATO – Employee or Contractor Table
ATO – Contractor v Employee Decision Tool
ATO – Superannuation Eligibility Decision Tool
STP Solutions Vendors:
Xero
Easy Payslip (free trial)
Lightning Payroll (free trial)
Reckon (3 variations)
CloudPayroll MICRO (free trial)
ePayroll Micro (free trial)
GovReports (free trial)
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