+61 7 3844 5555

At this time of year, it is easy for things to slip through the cracks, to avoid this ensure you are prepared for the below:

Superannuation:

  • Superannuation for the June 2020 quarter needs to be paid to employees funds by 28 July 2020 (However you need to allow for the time taken by your clearing house to allocate the funds, so you should check when these are due).

Some common ones:

  • Xero                                      21 July 2020
  • MYOB                                   21 July 2020
  • Payments after this date are not tax deductible and are subject to a super guarantee charge.
  • In most circumstances there is no obligation to pay superannuation on Job-keeper Top up Amounts.

Payroll Tax – Queensland:

  • Annual Payroll tax returns are due for lodgement by 21 July 2020.
  • You can still apply to defer paying payroll tax for the 2020 calendar year until January 2021 – Apply by 31 December 2020.  However, you still need to meet lodgement deadlines for returns.
  • Include all taxable wages (including any COVID-19 payroll tax relief amounts) for the financial year.
  • Job-keeper wages are exempt from payroll tax but must be included on the annual payroll tax return in the “Other non-taxable wages” field.  An example is provided on the link below.
  • An Employment growth rebate up to $20,000 may be available if over the year, your number of full-time employees has increased.
  • For more information see:

Payroll Tax – NSW

Payroll Tax – Victoria

  • The due date for lodgement and payment of the 2020 Annual reconciliation and payment is 21 July 2020.
  • Businesses with annual Victorian taxable wages up to $3million will have their payroll tax waived for the 2020 Financial year and any payroll tax already paid will be refunded.
  • For more information see:
    • https://www.sro.vic.gov.au/payroll-tax

Qld Workcover:

Please do not hesitate to ask for assistance with any of these returns or processes. This year end is more complex than normal due to JobKeeper. The Macro Team are here to help, please call or email us to discuss further.

 

Published: 9 July 2020

220 Melbourne Street
, SOUTH BRISBANE QLD 4101

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