Reality Cheque Bookkeeping Services

12/11/2025

Payday Superannuation - 1 July 2026

The government has passed legislation regarding changes to superannuation.

From 1 July 2026, employers will be required to pay their employees' superannuation guarantee at the same time as their salaries and wages.

Also, the ATO Small Business Super Clearing House (SBSCH) will close to all employers. Payments to superfunds will need to be made through a payroll software solution. Most bookkeeping and payroll solutions already offer this function.

It is a good time to start transitioning from the SBSCH to a payroll software solution.

The government announced changes to superannuation guarantee from 1 July 2026.

24/09/2025

ABN Lookup - Trading names will not be displayed from 1 November 2025

Businesses should take necessary steps to register their business name with ASIC as trading names will cease to be displayed soon.

Provides access to the publicly available information provided by businesses when they register for an Australian Business Number (ABN).

15/08/2025

What is considered a BAS Service? We get this question a lot! So, we’ve recently updated our website to include a non-exhaustive list of over 42 different types of services. Check out which ones may or may not constitute a BAS service under the Tax Agent Services Act 2009: https://ow.ly/erCf50WCBbh

21/03/2025

A handy tip for businesses to manage their tax obligations

https://www.facebook.com/share/1NUJ27Qdgc/

03/11/2023

The Fairwork Ombudsman has released a checklist for Christmas hiring -check out the October newsletter

October 2023 Employer Newsletter

18/10/2023

ATO Lodgement Penalty Amnesty - until 31st December 2023

A lodgement penalty amnesty program is being provided for small businesses with an aggregate turnover of less than $10 million to encourage them to re-engage with the tax system.

The amnesty applies to overdue income tax returns, business activity statements and fringe benefits tax returns that were due between 1st December 2019 and 28th February 2022.

If eligible, overdue forms are to be lodged between 1st June 2023 and 31st December 2023. Any failure to lodge penalty applying to the late lodgment will be remitted. Interest will still apply.

Consider the help of a registered BAS or Tax Agent to get your business' reporting obligations up-to-date. Contact Reality Cheque Bookkeeping Services for an obligation free chat today.

The Australian government announced a lodgment penalty amnesty program for small businesses to encourage them to re- engage with the tax system and get their obligations up-to-date.

17/08/2023

TPAR Lodgement Deadline 28 August approaching

Businesses who are required to lodge a Taxable Payments Annual Report (TPAR) for payments made to contractors need to report their contractor payments for the 2023 financial year by 28 August.

This includes business in the following industries:
- Building and Construction Services
- Cleaning Services
- Road Freight and Courier Services
- Information Technology Services
- Security, Investigation or Survellaince Services

When your business or government entity needs to report contractor payments and lodge a TPAR.

24/07/2023

Cars and Tax

From 2024, new thresholds apply for the 2024 financial year:

Depreciation: the maximum value for calculating depreciation on the business use of a car first used or leased in the 2024 financial year is $68,108

GST: the maximum GST credit that can be claimed for the purchase of a car during the 2024 financial year is $6,191

Luxury Car Tax (LCT): the LCT threshold for fuel-efficient vehicles is $89,332. For all other luxury vehicles it is $76,950

Check the link to the ATO for further information.

Make sure you understand the luxury car tax thresholds that apply.

11/07/2023

New kilometre rate is 85c for 2023-24 Financial Year (up from 78c for 2023-23FY) for a maxium of 5,000 business kilometres per car

Check how sole traders and some partnerships can use the cents per kilometre method for car-related business expenses.

03/07/2023

Happy New Financial Year.

A few things to remember regarding payroll:

Superannuation increased to 11% (from 10.5%) for any wages PAID on or after 1 July 2023.

Wage increases for minimum wage and award wages are applicable from the first full pay period on or after 1 July 2023.

Payroll for the 2023 financial year needs to be finalised and declared through STP by 14 July 2023.

Changes to parental leave scheme come into effect from 1 July, including combining parental leave pay and dad & partner pay.

02/06/2023

Minimum Wage Increase on 1 July 2023

The Fair Work Commission has announced the following wage increases:

- National Minimum Wage (for award free employees) will rise from currently $21.38 per hour to $23.23 per hour.
- Minimum award wages will increase by 5.75%

The Superannuation Guarantee rate will increase from currently 10.5% to 11% on 1 July 2023.

Read more about this and other upcoming changes in the article below

The Fair Work Commission has announced its Annual Wage Review 2023 decision. Learn more.

27/03/2023

Failure to lodge TPAR - Penalties may apply

Entities who are required to report contractor payments in a Taxable Payments Annual Report (TPAR) need to lodge TPAR by the 28th August each year.

The ATO will now follow up and possible fine entities who have overdue TPAR's. To avoid penalties, lodge them now.

Failure to lodge penalties will be applied to some clients who have not lodged their TPAR on time.