Although it's not a time of celebration around the globe, we are very appreciative of our current environment here in Western Australia compared to the rest of the world.
Our team has been working hard on the remaining 2019 Tax compliance outstanding due to the lost hours working on JobKeeper, JobSeeker and PAYG Cash Boost. We thank you again for your patience at this time.
Please note that the ATO have recommended NOT lodging your 2020 Income Tax Returns until the end of July 2020. They are currently updating their systems and will be under maintenance at times during this period. The advice we have received is to withhold lodgements in case taxpayers' Employment Income Statements are not finalised via STP which could result in incorrect data reported on tax returns.
If you wish to provide your 2020 information to us for preparation, we recommend that we delay the lodgement until such time as advised by the ATO.
This year, we will be introducing a new system for contacting you with any queries in relation to your income tax returns and/or financial statements. Rather than direct emails, you can expect to receive a series of questions via our Xero system called ASK. Should you receive an ASK email, please click here for instructions on how to log in.
Those businesses enrolled by MTCA would have received regular emails reminding you to check your minimum wages payments for all your Eligible and Enrolled Employees at the end of each fortnight. You will also have received a questionnaire through ASK requesting information for your monthly JobKeeper claim submission.
For the remainder of the JobKeeper Scheme, please look out for the following:
All enrolled businesses with Eligible Enrolled Employees will receive a reminder through the ASK system to confirm your minimum gross wages payment requirements. This reminder will not be sent to businesses who have no Enrolled Employees in the JobKeeper Scheme.
We are currently in ATO JobKeeper Fortnight #7 (22/6/2020 to 5/7/2020) therefore the next reminder will be sent on Thursday 2 July 2020.
All businesses enrolled in the JobKeeper Scheme will receive a questionnaire through the ASK system requesting information required to accurately complete and submit the Monthly Claim Form with the ATO.
Please review and answer ALL the questions for us to efficiently complete your JobKeeper claims promptly.
An annual requirement for a business with employees is to prepare Payment Summaries and declare the final wages figures to the ATO. With Single Touch Payroll this system is a lot simpler than previous years. Those businesses who have been reporting their payroll via STP will not be required to prepare Payment Summaries for their Employees. They will however need to submit a Final Report through the STP system confirming all wages for the financial year.
For those businesses reporting STP through Xero or MYOB, please contact Alison or Vanessa at our office for assistance.
For all other enquiries, please contact us.
Mark Trovato Chartered Accountants