The beginning of a financial year brings those of us in business many great things - new energy to make this year better than the previous, and a chance to review the previous year and reflect on our successes and learnings (we don't like to call them mistakes).
It also brings with it the first of the end of year compliance dates - Payment Summaries (previously called Group Certificates) for your employees are due to be issued by the 14th July.
The new PAYG Withholding schedules for 2011/2012 have been released by the Australian Taxation Office.
If you're using accounting or bookkeeping software, such as MYOB or Quickbooks and pay employees, please don't forget to update your software prior to your first pay run for the 2011/2012 year.
Paycycle subscribers on the other hand can sit back and relax knowing that the 2011/12 tax tables have already been updated for them, at no extra charge - it is all part of their awesome cloud based payroll service.
And if you're still calculating youremployee pays in a wages book and using your brains instead of a computer, then you can find the new tax tables here.
Accounts HQ is Perth, Western Australia's leading outsourced accounts and bookkeeping service. Our friendly team of bookkeepers are experienced in Xero, Paycycle, MYOB and Quicken and can help to make sure you get the most out of your financials.
