Welcome to our September 2022 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today and throughout the year ahead.

This special edition of our newsletter is to remind you of your employer obligations for the year ended 30 June 2022, as well as to provide an update on key changes from 1 July 2022 onwards. We also cover some employment related matters that should be reviewed routinely. Please contact your StewartBrown Manager or Partner should you need any assistance with any of the matters mentioned in the newsletter.

Important 2022 Year End considerations covered in the newsletter include:

1. Single Touch Payroll ("STP")
2. Superannuation Obligations
3. Taxable Payments Annual Reporting (TPAR)
4. Payroll Tax
5. Directors Personal Liability & Director Identification Numbers
6. Salary Sacrifice Arrangements
7. Workplace Health & Safety (WHS)
8. Contractor or Employee?
9. Workers Compensation
10. Fair Work System

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For the information of clients we enclose this checklist which you may find helpful in planning your year-end tax strategies. Careful planning (and in many cases timing) is even more important this year. Please contact your StewartBrown Manager or Partner should you need any assistance with understanding or applying the below.

Here’s a quick summary of what you need to consider for yourself and your business before the end of the financial year:

FRINGE BENEFITS TAX ("FBT")

The FBT year ended on 31 March 2022 and each employer is required to calculate their liability for FBT. Where a liability for FBT exists, an annual return is required to be lodged and any tax paid by 21 May 2022. However, if the return is lodged electronically by a Tax Agent the due date of lodgement and payment is 25 June 2022.