As the festive season approaches, your clients may be considering hiring new employees to help with their business.
Here are some key things they should remember when it comes to their employer tax and super obligations.
Withholding the right amount of tax
Your clients will need to make sure they're withholding the right amount of tax from payments they make to their employees and other payees.
This is an important part of their role, as it'll help their employees to meet their end-of-year tax liabilities.
Your clients' accounting or payroll software, our tax tables or our online tax withheld calculator will help them do this.
Paying super guarantee (SG)
Your clients must pay SG to all eligible employees' super funds in full and on time to avoid paying the super guarantee charge.
The next SG payment due date is 28 October.
Our Super guarantee contributions calculator can help them work out how much SG they need to pay.
They can also use our checklist to ensure they're meeting their SG obligations.
Reporting through Single Touch Payroll (STP)
If your clients are still not reporting through STP and don't have an approved exemption, deferral or concession in place, they should start reporting now.
If they've just started a business or recently employed staff, they'll need to report through STP from their first payday.
It's important for them to remember if they report through STP, they don't need to send us their employee's completed TFN declaration. We've already received this information through their STP reporting. Just be sure they keep them for their own records.
Visit our website for more information on employer obligations.