Reporting closely held payees through STP
The STP reporting exemption for small employers’ closely held payees ended on 30 June 2021. From 1 July 2021, amounts paid to closely held payees must be reported through Single Touch Payroll (STP). Small employers (19 or fewer payees) can choose to report payments to closely held payees on or before the date of payment, actual payments quarterly or a reasonable estimate quarterly. Small employers – closely held payees.
As you prepare for the new financial year, check if you need to lodge a Taxable payments annual report this year to report payments to contractors for certain services. Get ready to lodge by 28 August to avoid penalties for failing to lodge on time. If you don’t need to lodge this year, submit a Non-lodgment advice to let us know and avoid unnecessary follow up. Click here for information to help you work out if you need to report and how to lodge
ACCC Inquiry into the National Electricity Market
The ACCC has released its latest Electricity Markets Inquiry report, including an update to reflect current market conditions that shows electricity price rises have been significant and unprecedented in recent weeks. The May 2022 report includes small business billing data of 10 electricity retailers, who together supply the vast majority of electricity customers across the National Electricity Market states of New South Wales, South Australia, South East Queensland and Victoria.
Increasing the independence of vulnerable consumers
With many consumers being at a disadvantage, transformative service research has emerged in the services marketing research area, with a focus on services designed for vulnerable people. Vulnerable consumers, such as the elderly, overweight and obese consumers, cancer patients, and people with disabilities, are those considered as powerless in consumption experiences and have gained increasing attention in the literature, with scholars examining different ways to provide support. Become a member to access
Read the full scoop here.