Are you a small business with employees?

small business

The ATO has recently made some changes that might affect you.

Have you hired a new employee recently?

You’ll need to complete a Tax File Number Declaration form and send it in to the ATO within 14 days of the employee’s start date. If you are manually completing the form and posting it to the ATO, don’t forget to keep a copy for your own records and write the date posted on it, as the latest version of this form doesn’t include a copy for employers to keep. From September this year you won’t be able to get these forms from newsagencies anymore – the ATO is very much moving away from paper-based forms and encouraging business to embrace their online services.

There are benefits to lodging forms online, so don’t be afraid to look into the ATO’s Business Portal or Standard Business Reporting (SBR).

Happy bookkeeping.

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