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Single Touch Payroll Phase 2 employer reporting

Single Touch Payroll (STP) phase 2 is now the way an employer reports their employees superannuation and tax information to the ATO when you run your payroll. The information that will be submitted to the ATO includes gross pay, paid leave, allowances, PAYG withholding & super liability information. You’ll no longer have to send the…

Business Costs Assistance Program Round Four – Construction

Earlier this month, the Victorian Government announced that there will be a grant available to businesses in the construction industry. This grant is called the Business Costs Assistance Program Round Four – Construction, which is now open for applications! Businesses must have incurred direct costs due to the lockdown of construction sites from 21 September…

New Grant: Small Business COVID Hardship Fund

This week, the Victorian Government have released a new Grant for small and medium businesses called the Small Business COVID Hardship Fund. If your business has been majorly impacted by COVID-19 and has had at least a 70% reduction in turnover as a result of COVID-19, you may be eligible to apply for this grant!…

COVID-19 Business Support Grants – Top-Up Payment

Has your business been significantly affected by the current (July 2021) Victorian lockdown? The Victorian Government has just released a new Business Support Grant for businesses and sole traders that have been affected by the lockdown extension announced for Victoria this week. See information below regarding this “Top-up Payment” Eligibility Criteria To be…

Starting a Business - Types of Business Structures

Types of Business Structures in Australia

When starting a business, you will need to decide which type of business structure is best for your business. During this process, you should consider your personal circumstances and who will be the key operator of the business. Making the right decision from the onset is critical because the business structure you choose can impact:…

MyGov accounts are NOT compulsory | So, do you really need one?

In February 2020, legislation came into effect that requires all employers to start reporting their payroll through Single Touch Payroll from 1 July 2019. Employers were given until 30 September 2019 to start reporting without needing to apply for additional time. As an employee, these changes mean that your tax and super information is now…

Single Touch Payroll Reporting – Closely Held Companies

Hey everyone, Following a recent email sent by the ATO on Single Touch Payroll, we felt it important to share the following info with you too. The ATO recently sent an email blast to owners of closely held companies stating that they had missed the Single Touch Payroll (STP) start date. However, this was incorrect…

Marketing Services - Knox Taxation and Business Advisory

Introducing Our New Marketing Services!

Do you need help or advice with your marketing? From April 2019, we are going to start offering all-round marketing advice & strategies for small business, alongside our business advisory and tax compliance services. If you’re not interested in marketing, not a problem at all. We’ll continue to look after you and your business with…

Small Business Accounting Software – Which is best for your business?

These days, many business owners are investing in good quality small business accounting software to help with the successful running of their business. Are you feeling frustrated with the amount of time you spend: Recording receipts? Reconciling and balancing accounts? Keeping track of debtors or creditors? Manually entering data into excel spread sheets? Filing away…

10 Tips to Help You Build a Successful Business

Building a successful business can be challenging, regardless of whether you’re starting from scratch or striving to grow your existing business. As a small business owner, you may find yourself being pulled in multiple directions at the same time, and needing to wear different hats each day. Some days you’ll be delivering your product or…