All employers are required to pay and report super guarantee payments electronically to ensure they meet SuperStream requirements. With the introduction of SuperStream it is now easier for the ATO to monitor your payments to ensure they have all been paid on time.

Super guarantee payments must be made by employers to their employees' complying funds by quarterly due dates, which are 28 days after the end of each quarter.

The due dates for each quarter are as follows:  

Quarter

Period

Payment due date

1

1 July – 30 September

28 October

2

1 October – 31 December

28 January

3

1 January – 31 March

28 April

4

1 April – 30 June

28 July

 

When a due date falls on a weekend or public holiday, you can make the payment on the next working day.

If you miss the due date your payment will NOT be tax deductible.

Please note the above due dates in your calendar and ensure all superannuation guarantee payments are made on or before these dates. 

 

Next date for payment:

Period: 1 July 2021 – 30 September 2021

Payment due date: 28 October 2021

 

 

If you would like any further information or assistance with complying with your super guarantee obligations please contact us on 1300 885 761.

Super choice rules will change from 1 November

From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don't choose a super fund. You may now need to request their 'stapled super fund' details from the ATO.

A stapled super fund is an existing super account which is linked, or 'stapled', to an individual employee so that it follows them as they change jobs.

This change aims to reduce the number of additional super accounts opened each time they start a new job.

What you need to do from 1 November 2021

You may need to request stapled super fund details when:

  • your new employee starts on or after 1 November 2021
  • you need to make super guarantee payments for that employee, and
  • your employee is eligible to choose a super fund but doesn't.

You don't need to offer a choice of super fund to some employees, but you may still need to request their stapled super fund details. This includes employees that are either:

  • temporary residents
  • covered by an enterprise agreement or workplace determination made before 1 January 2021.

Step 1: Offer your eligible employees a choice of super fund

You need to give your eligible new employees a Super standard choice form and pay their super into the account they tell you on the form. Most employees are eligible to choose what fund their super goes into.

There is no change to this step of your super obligations.

You cannot provide recommendations or advice about super to your employees, unless you are licensed by the Australian Securities & Investments Commission (ASIC) to provide financial advice.

Step 2: Request stapled super fund details

If your employee doesn't choose a super fund, you may need to log into ATO Online services and go to 'Employee Super Accounts' to request their stapled super fund details.  We can also do this for you.

The ATO will provide your employee's stapled super fund details after they have confirmed that you are their employer.

If the ATO provide a stapled super fund result for your employee, you must pay your employee's super using the stapled super fund details the ATO provide you.

Step 3: Pay super into a default fund

You can pay into a default fund, or another fund that meets the choice of fund obligations if:

  • your employee doesn't choose a super fund, and
  • the ATO have advised you that your employees don't have a stapled super fund.

Get ready

To make sure you are ready to request stapled super fund details,  we recommend that you check  the access levels of your authorised person in ATO online services.

If an authorised person doesn't have full access in ATO online services, they will need to have the 'Employee Commencement Form' permission in order to request a stapled super fund.  If, on the other hand, they have no need to access this service, you should remove this permission in order to protect your employees' personal information.

More information about the new stapled super fund rules can be found here, or contact us on 1300 885 761 to discuss.

Paid contractors? Don’t forget your TPAR

With all the changes due to COVID-19, you may have contracted out more services in the past year. This could mean you need to lodge a Taxable payments annual report (TPAR) for the first time. TPARs are due on 28 August each year.

You may need to lodge a TPAR if your business pays contractors or subcontractors for the following services:

  • building and construction
  • cleaning
  • courier services
  • road freight
  • information technology
  • investigation, security or surveillance.

Contractors can include subcontractors, consultants and independent contractors. They can be operating as sole traders, companies, partnerships or trusts.

The detail that you need to report about each contractor can be found on the invoice you should have received from them, and includes:

  • Australian business number (ABN), if known,
  • Name and Address and
  • The gross amount you paid to them for the financial year (including any GST).

The Taxable payments report can be lodged online or by completing a paper form.  If you are unable to lodge online, you can order the TPAR paper form from the ATO publications ordering service.

If you need to lodge a TPAR but missed the due date, lodge it now.

If you lodged your TPAR but made a mistake, you can amend it.

Keeping good records makes it easier for you to prepare your TPAR. Remember to include details of cash payments to contractors on your TPAR.

If you would like any further information or assistance with lodging your taxable payments annual report please contact us on 1300 885 761.

Extension of the 2021 NSW Covid-19 Business Grant

The Government is extending the application period of its temporary Covid-19 Business Grant from 13 September 2021 to 1 October 2021. The payment rate and eligibility criteria remain the same.

Available funding

Eligible businesses (including non-employing businesses such as non-employing sole traders) and not-for-profit organisations can apply for a one-off grant of $7,500 (tier one), $10,500 (tier two) or $15,000 (tier 3) via one application if their turnover declined over a 2-week period between 26 June 2021 to 17 July 2021:

  • $7,500 (tier one): Businesses that have experienced a decline in turnover of 30% or more due to the Public Health Orders will be eligible for a grant of $7,500.
  • $10,500 (tier two): Businesses that have experienced a decline in turnover of 50% or more due to the Public Health Orders will be eligible for a grant of $10,500.
  • $15,000 (tier three): Businesses that have experienced a decline in turnover of 70% or more due to the Public Health Orders will be eligible for a grant of $15,000.

Note: Eligible businesses may only receive one grant tier and only one grant is available for a single ABN.

The Grant is designed to assist employees over the first 3 weeks of the current restrictions. Assistance after this period is available through the JobSaver program.

Eligibility

To be eligible, a business must:

  • have an Australian Business Number (ABN) and be operating in New South Wales as at 1 June 2021;
  • have total annual Australian wages of $10 million or less as at 1 July 2020;
  • had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020;
  • have business costs for which there is no other government support available;
  • maintain their employee headcount from 13 July 2021 for the period for which the business is receiving payments under this Grant and the JobSaver scheme;
  • must experience a decline in turnover over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to the same period in 2019, or 2020, or the 2 weeks immediately prior to any restrictions of 12-25 June 2021 (inclusive) :
    • $7,500 for a decline of 30% or more
    • $10,500 for a decline of 50% or more
    • $15,000 for a decline of 70% or more
      • for Southern Border businesses the turnover period is from 27 May 2021 to 17 July 2021 compared to the same period in 2019, or 2020, or the 2-week period immediately before the Victorian Stay at Home Directions commenced (13 May-26 May 2021) .

Please refer to our article '2021 NSW Covid-19 Business Grant' for the other details of the Grant.

If you would like any further information or assistance with 2021 Covid-19 Business Grant please contact us on 1300 885 761.

Who can claim Fuel Tax credits?

You may be eligible to claim fuel tax credits for fuel purchased for use in your business. To be eligible you must:

  • Be registered for GST
  • Use the fuel for an eligible activity including but not limited to:
    • Use in heavy vehicles travelling on public roads if the vehicle has a gross vehicle mass (GVM) greater than 4.5 tonnes.
    • Use in business activities such as agriculture, forestry, mining, construction and manufacturing if the vehicle (including light vehicles) was travelling on private roads and off public roads.

Further details regarding eligible fuels and business activities can be found on the ATO website.

Indexation of rates:

The rates for fuel tax credits are indexed bi-annually on 1 February and 1 August in line with the Consumer Price Index (CPI).

The indexed rates for the period from 2 August 2021 to 31 January 2022 are as follows:

  • Increase from 16.5 to 16.9 cents per litre for liquid fuels used in a heavy vehicle on public roads;
  • Increase from 42.7 to 43.3 cents per litre for liquid fuels in all other business uses;
  • Increase from 18.305 to 18.565 cents per litre for E85 (85% ethanol/15% petrol) in all business uses except heavy vehicles on public roads;
  • Increase from 13.9 to 14.1 cents per litre for liquefied petroleum gas (LPG) ; and
  • Increase from 29.3 to 29.7 cents per kilogram for compressed natural gas (CNG) and liquefied natural gas (LNG).

These changes will affect fuel tax credit calculations for September quarter Activity Statements.

If you claim less than $10,000 in fuel credits each year you can calculate your fuel tax credit using the rate that applies at the end of the BAS period.

The ATO fuel tax credit calculator can be found here.

Please contact us on 1300 885 761 for more information.  

The 80 cents per hour method to claim deductions for home office running expenses has now extended and can be used for the 2020/21 income year. Home office running expenses incurred as a result of working from home can generally be claimed where employees and business owners use their home to carry out genuine income-earning activities.

The hourly rate covers all additional running expenses, namely:

  • Electricity expenses (e.g., in relation to heating, cooling, lighting and electrical items, such as a computer and a printer being used for work).
  • Gas expenses (e.g., in relation to heating).
  • Cleaning costs for a dedicated work area at home (e.g., for a dedicated home office).
  • Phone (including mobile phone) and internet expenses.
  • Computer consumables (e.g., printer paper and printer cartridges).
  • Depreciation of office furniture and furnishings (e.g., an office desk and a chair).
  • Depreciation of home office equipment (e.g., computers and printers).

The 80 cents per hour method is an optional and alternative method to claiming home office running expenses and that individuals still have the option to use the following existing claim methods, even during the period 1 July 2020 to 30 June 2021:

  • the '52 cents per hour method' (which only covers heating, cooling, lighting, cleaning an depreciation of office furniture); and/or
  • the 'actual method' – which involves analysing separate running costs associated with working from home and claiming the work-related portion of such costs.

The ATO's 80 cents per hour method is generally a more simplified method for claiming home office running expenses compared to above existing claim methods. This is particularly because it is simply based on a fixed hourly rate of 80 cents for each hour worked at home and will only require minimal records to be kept (i.e., a record of the number of hours worked from home during this period).

A deduction can only be claimed by a taxpayer in these circumstances for expenses associated with their home, where the relevant expense:

  • has been incurred by the taxpayer (and not paid for by a third party – e.g., an employer);
  • has a sufficient connection with the taxpayer's income-earning activities; and
  • can be substantiated or verified (e.g., by providing written evidence of the expense and a record of the hours worked at home to verify the deduction portion of the expense).

If you would like any further information or assistance in regards to Home Office Expenses, please feel free to contact us on 1300 885 761.

Several Bills containing important superannuation measures which may impact you have passed both Houses of Parliament. These measures have now also received Royal Assent, which is the final step required for a parliamentary bill to become law.

The two changes which affect self-managed superannuation funds are:

1.       Treasury Laws Amendment (More Flexible Superannuation) Bill 2020: which extends the three year non-concessional contribution bring forward rule to individuals under age 67. This measure is effective 1 July 2020.

Two important amendments were made to the Bill to provide for:

  • Removal of the excess concessional contribution charge
  • Ability to re-contribute COVID-19 early release amounts without impacting your non-concessional contribution cap

Removal of the excess concessional contribution charge

Starting 1 July 2021, the excess concessional contribution charge will be removed. The excess concessional contributions charge is an interest penalty that applies to the increased tax liability due to adding excess concessional contributions to assessable income.

Excess concessional contributions will still be automatically added to an individual's personal assessable income and taxed at personal marginal tax rates. Individuals will also remain entitled to non-refundable tax offset equal to 15%.

COVID-19 re-contributions

If an individual made an early super withdrawal under the former COVID-19 condition of release, they may re-contribute these amounts without it counting towards their non-concessional contributions cap.

To be eligible, re-contributed amounts must be made between 1 July 2021 and 30 June 2030. The total amount of contributions covered under this exemption must not exceed the COVID-19 release amount. An individual will not be eligible to claim a personal tax deduction on amounts they elect to treat as COVID-19 re-contributions.

2.       Treasury Laws Amendment (Self-Managed Superannuation Funds) Bill 2020: permits the maximum number of members allowed in a self-managed superannuation fund and small APRA fund to increase from four to six. This measure will commence from 1 July 2021.

You should note that some states including NSW only permit up to four individual trustees. Members who are impacted by state-based law limitations may wish to consider a corporate trustee if they wish to expand the SMSF to five or six members.

How can we help?

If you have any questions, require assistance or would like further clarification with any aspect of above superannuation changes, please feel free to contact us on 1300 885 761.

2021 NSW COVID-19 Micro-Business Grant

The 2021 COVID-19 Micro-Business Grant provides a fortnightly payment of $1,500 to NSW micro businesses (small business, sole traders or not-for-profits organisations with aggregated annual turnover between $30,000 and $75,000) who have been impacted by the recent COVID-19 restrictions.

Applications opened on 26 July 2021 and close at 11:59pm on 18 October 2021.

Eligibility

To be eligible, a business must:

  • have an active Australian Business Number (ABN) registered in, or demonstrate your business was primarily operating in, NSW as at 1 June 2021;
  • have had aggregated annual turnover between $30,000 and $75,000 for the year ended 30 June 2020;
  • have experienced a decline in turnover of 30% or more due to the public health orders over a minimum 2-week period within the Greater Sydney lockdown period (commenced 26 June 2021  and due to end 28 August 2021), compared to the same period in 2019;
  • have business costs for which no other government support is available;
  • have not applied for either the 2021 COVID-19 Business Grant or the JobSaver payment;
  • maintain your employee headcount as at 13 July 2021 while receiving payments from this grant, if you're an employing business;
  • have this business as your primary income source, if you're a non-employing business such as a sole trader.

Note: Only one application can be submitted for a single ABN, therefore separate businesses under one ABN will not be eligible separately.

Certain entities, including those primarily earning passive income (such as rents, interest or dividends) or those with an ABN registered after 1 June 2021, are not eligible for this grant.

Evidence to support eligibility

  • submit evidence of your business' decline in turnover of 30% or more over a minimum 2-week period within the Greater Sydney lockdown period (commenced 26 June and due to end 28 August 2021) compared to the same period in 2019. This will be in the form of a:
    • letter from a qualified accountant, registered tax agent or registered BAS agent, or
    • business bank account statement (separate from any personal accounts).
  • submit evidence of an aggregated annual turnover between $30,000 and $75,000 for the year ended 30 June 2020. This can be in a form of a:
    • letter from a qualified accountant, registered tax agent or registered BAS agent; or
    • business activity statement (BAS); or
    • business bank account statement (separate from any personal accounts); or
    • Australian income tax return (or Notice of Assessment) – businesses can choose to redact their tax file number.
  • if you do not have employees, declare that the business is the primary income source for the owner of the business;
  • if you do have employees, declare that you will maintain your employee headcount on 13 July 2021 for the period for which the business is receiving grant payments and notify Service NSW if employee headcount declines over the period of the payment due to any actions of the business, and
  • lodge other supporting documents, as required, to demonstrate that they meet the eligibility criteria.

Alternative circumstances

If your micro-business does not meet all the eligibility criteria, you may still be able to apply for the grant. See the alternative circumstances outlined in the guidelines.

What you need

  • a MyServiceNSW Account
  • your proof of identity
  • your valid ABN/ACN number
  • your business banking details for payment
  • a business activity statement (BAS)
  • Australian income tax return or Notice of Assessment.

Once deemed eligible, businesses will receive automatic fortnightly payments. Businesses will not need to re-apply, but businesses with employees must notify Service NSW if they are not maintaining the number of employees they had on 13 July 2021. Payments will be made in arrears with the first payment backdated to 26 June 2021.

How to apply

Details of Micro-Business Grant can be accessed here.                          

The application can be lodged online through Service NSW website. Or if you are not able to apply online, you can call 13 77 88.

If you would like any further information or assistance with Micro-Business Grant please contact us on 1300 885 761.

2021 NSW COVID-19 JobSaver Payment

The JobSaver program provides NSW businesses, sole traders and not-for-profits impacted by recent COVID-19 restrictions with fortnightly payments to maintain the 13 July 2021 employee headcount.

Eligible businesses and not-for-profit organisations with employees will receive fortnightly payments to cover costs incurred from week 4 of the Greater Sydney lockdown (from 18 July 2021 onwards).

Applications opened on 26 July 2021 and close at 11:59pm on 18 October 2021. Payments will be backdated to 18 July 2021.

The payment will be equivalent to 40% of the weekly payroll for work performed in NSW:

  • minimum payment will be $1,500 per week
  • maximum payment will be $10,000 per week.

Weekly payroll should generally be determined by referring to the most recent Business Activity Statement (BAS) provided to the ATO before 26 June 2021 for the 2020-21 financial year.

If you're a non-employing business, such as a sole trader, you may be eligible to receive a payment of $1,000 per week.

Businesses that have applied and are eligible for the 2021 COVID-19 Business Grant will generally be automatically eligible for JobSaver but must provide further information on employee headcount and payroll. These businesses may be contacted by Service NSW if further information is required.

Eligibility

To be eligible, a business must:

  • have an active Australian Business Number (ABN) and be operating in NSW as at 1 June 2021;
  • have had a national aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020;
  • have experienced a decline in turnover of 30% or more due to the Public Health Order over a minimum 2-week period within the Greater Sydney lockdown period (commenced 26 June) compared to the same period in 2019;
  • for employing businesses, maintain your employee headcount on 13 July 2021 while you continue to receive JobSaver payments;
  • for non-employing businesses, such as sole traders, show that the business is the primary income source for the associated person. If you have more than one non-employing business, you can only claim payments for one business.

Note: Each ABN can apply for JobSaver only once, therefore separate businesses under one ABN will not be eligible separately.

Evidence to support eligibility

If your business is on the highly impacted industries list, you will be required to:

  • declare that you meet the eligibility criteria;
  • declare your employee headcount at 13 July 2021;
  • if you have employees, declare that you will maintain your employee headcount on 13 July 2021 for the period for which you will receive JobSaver payments. Service NSW must be notified if the headcount declines over the payment period;
  • if you do not have employees, declare that the business is the primary income source for the owner of the business;
  • submit an Australian income tax return, Notice of Assessment or other documentation demonstrating the business had a national aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020;
  • provide details of your qualified accountant, registered tax agent or registered BAS agent;
  • provide evidence of weekly payroll;
  • lodge other supporting documents as required to demonstrate you meet the eligibility criteria.

If your business is not on the highly impacted industries list, in addition to the evidence requirements outlined above, you will need to:

  • Submit a letter from a qualified accountant, registered tax agent or registered BAS agent, using the template provided, to demonstrate that you experienced a decline in turnover over a minimum 2-week period within the Greater Sydney lockdown period (commenced 26 June) compared to the same period in 2019.

Alternative circumstances

If your business does not meet all the eligibility criteria, you may be able to apply for JobSaver if you can provide evidence to support the alternative circumstances outlined in the guidelines.

What you need

  • A MyServiceNSW Account – you can create one when you start your JobSaver application
  • your proof of identity
  • your valid ABN/ACN number
  • your business banking details for payment
  • evidence of your annual turnover and loss of income
  • Australian income tax return or Notice of Assessment
  • qualified accountant, registered tax agent or registered BAS agent details, where required.

Once deemed eligible, businesses will receive automatic fortnightly payments. Businesses will not need to re-apply but must notify Service NSW if they are not maintaining the number of employees they had on 13 July 2021. Payments will be made in arrears with the first payment backdated to 18 July.

How to apply

Details of JobSaver Payment can be accessed here.                                 

The application can be lodged online through Service NSW website. Or if you are not able to apply online, you can call 13 77 88.

If you would like any further information or assistance with JobSaver Payment please contact us on 1300 885 761.

2021 NSW COVID-19 Business Grant

The 2021 COVID-19 business grant will be open to NSW businesses which have less than $10 million in total wages and aggregated annual turnover between $75,000 and $50 million for the year ended 30 June 2020. The intention of the Grant is to help businesses survive the lockdown so they can continue to support employment and the economy after restrictions are lifted.

Applications will open on 19 July 2021 and close at 11:59pm on 13 September 2021.

Businesses that received previous COVID-19 small business grants, including the 2020 Small Business COVID-19 Support and Small Business Recovery grants, can apply for this Grant. However, non-employing businesses are not eligible to apply if persons associated with the business, and who derive income from it, have applied for, or are receiving, the Commonwealth COVID-19 Disaster Payment.

Available funding

Eligible businesses (including non-employing businesses such as non-employing sole traders) and not-for-profit organisations can apply for a one-off grant of $7,500 (tier one), $10,500 (tier two) or $15,000 (tier 3) via one application:

  • $7,500 (tier one): Businesses that have experienced a decline in turnover of 30% or more due to the Public Health Orders will be eligible for a grant of $7,500.
  • $10,500 (tier two): Businesses that have experienced a decline in turnover of 50% or more due to the Public Health Orders will be eligible for a grant of $10,500.
  • $15,000 (tier three): Businesses that have experienced a decline in turnover of 70% or more due to the Public Health Orders will be eligible for a grant of $15,000.

Note: Eligible businesses may only receive one grant tier and only one grant is available for a single ABN.

Eligibility

To be eligible, a business must:

  • have an Australian Business Number (ABN) and be operating in New South Wales as at 1 June 2021;
  • have total annual Australian wages of $10 million or less as at 1 July 2020;
  • had an aggregated annual turnover between $75,000 and $50 million (inclusive) for the year ended 30 June 2020;
  • have business costs for which there is no other government support available;
  • maintain their employee headcount as at 13 July 2021 for the period for which the business is receiving payments under this Grant and the JobSaver scheme;
  • must experience a decline in turnover over a minimum 2-week period from 26 June 2021 to 17 July 2021, compared to the same period in 2019:
    • $7,500 for a decline of 30% or more
    • $10,500 for a decline of 50% or more
    • $15,000 for a decline of 70% or more.
      • for Southern Border businesses the turnover period is from 27 May 2021 to 17 July 2021 compared to the same period in May and/or June and/or July 2019.

Evidence in support of eligibility

If your business is on the highly impacted industries list, you will be required to:

  • declare that you experienced a decline in turnover as outlined above based on different tiers;
  • declare that you have eligible expenses for which there is no other support available. You will not be required to provide evidence of costs on application (e.g. invoices) but will need to keep evidence of costs for a possible future audit;
  • declare your employee headcount at 13 July 2021;
  • declare you will maintain your employee headcount as at 13 July 2021 for the period for which the business is receiving payments under this Grant and the JobSaver scheme;
  • provide details of your qualified accountant, registered tax agent or registered BAS agent for possible compliance checking;
  • submit an Australian Income Tax Return (or Notice of Assessment) or other documentation to demonstrate your business had an aggregated annual turnover of between $75,000 and $50 million (inclusive) for the year ended 30 June 2020; and
  • lodge other supporting documents as required to demonstrate that you meet the eligibility criteria.

If your business is not on the highly impacted industries list, in addition to the evidence requirements outlined above, you will need to:

  • Submit a letter from a qualified accountant, registered tax agent or registered BAS agent, to demonstrate that you experienced a decline in turnover over a minimum 2-week period within the Greater Sydney lockdown (commenced 26 June) compared to the same period in 2019.

How to apply

Details of The Grant can be accessed here.                                                 

The application can be lodged online through Service NSW website. Or if you are not able to apply online, you can call 13 77 88.

If you would like any further information or assistance with 2021 Covid-19 Business Grant please contact us on 1300 885 761.