Director ID Deadline

Director ID Deadline

The deadline for directors of Australian companies to apply for a director ID has now passed. If you missed the deadline, you can still apply. We’ll take a reasonable approach with directors who are trying to do the right thing. After 14 December 2022, penalties may apply for directors who have deliberately not met their obligations.To apply onlineExternal Link, you must have at least a Standard identity strength myGovID. If you have a Strong myGovID it will streamline the application process as you only need to provide your TFN or residential address, as held by the ATO, at the ‘proof of record ownership’ step.If you’re one of the more than 1.9 million directors who have already lodged an application, you don’t need to contact us. Once you receive your director ID, keep it safe until you need it. You can share it with your accountant, company secretary, agent or tax professional. Resources are available in languages other than EnglishExternal Link and our demonstration videoExternal Link has a step-by-step guide to applying online.

For more information go to the Small Business Newsroom

https://www.ato.gov.au/Newsroom/smallbusiness/General/Missed-the-director-ID-deadline-/?sbnews20221214

Single Touch Payroll Phase 2 Reporting

Need help with STP Phase 2? Contact us for assistance to make sure your payroll is set up correctly in Xero for the new rollout of STP Phase 2 reporting.

Find out more about STP 2 on the ATO website – https://www.ato.gov.au/Business/Single-Touch-Payroll/Expanding-Single-Touch-Payroll-(Phase-2)/

Fuel Tax Credits Have Changed

When you claim fuel tax credits for your clients, you’ll need to apply the lower rates for fuel acquired from 30 March 2022 to 28 September 2022.
 
The lower rates for fuel tax credits are the result of halving the fuel excise duty for 6 months. The reduced rates apply to petrol, diesel, and all other petroleum-based products, except aviation fuels.

Find out more on the ATO website – https://www.ato.gov.au/Business/Fuel-schemes/Fuel-tax-credits—business/

SG Changes – New Super Rate

Is your system updated for the latest SG changes?

10 August 2022

As of 1 July 2022, the $450-per-month super guarantee (SG) eligibility threshold was removed. This means that if an employee meets the other SG eligibility requirements, you must pay them SG, regardless of how much they earn. However, employees under 18 must still work more than 30 hours in a week to be eligible.

It’s important to make sure your payroll and accounting systems have been updated for salary and wages paid from 1 July 2022. This will ensure you correctly calculate your employee’s SG entitlement.

An employee’s eligibility for SG is determined when they are paid, not when they earn the income. This means if you pay an eligible employee on or after 1 July 2022, you need to pay their super regardless of how much they have earned – even if all or part of the relevant pay period is before 1 July.

The ATO’s Superannuation guarantee eligibility decision tool can help you determine if your employees, including any contractors treated as employees for super purposes, are eligible for super.

You can also check out the Super guarantee contributions calculator to help you work out how much super you need to pay.

See also

• Eligibility requirements
• Work out if you have to pay super
• Superannuation guarantee eligibility decision tool
• Super guarantee contributions calculator