Payroll and Employment - TMS Financial

Single touch payroll phase 2 in 2023

by Thomas S Phabmixay | Oct 13, 2023 | Payroll and Employment

Home | Articles | Single touch payroll phase 2 in 2023What is single touch payroll? Single Touch Payroll (STP) is a streamlined payroll reporting system in Australia that requires employers to report various aspects of their payroll, including salaries, wages, and...

What is a Superannuation Standard Choice Form?

by Thomas S Phabmixay | Oct 4, 2023 | ATO, Business Owners, Payroll and Employment, Self Managed Superannuation Funds (SMSF), Tax & Accounting

Home | Articles | What is a Superannuation Standard Choice Form?Super Choice, short for Superannuation Standard Choice Form, is used to let employers know their employee's selected superannuation fund. Superannuation funds, often referred to as super funds, are a type...

Understanding how to withdraw super

by Thomas S Phabmixay | Oct 2, 2023 | ATO, Business Owners, Payroll and Employment, Self Managed Super Funds, Tax & Accounting, Tax Planning

Home | Articles | Understanding how to withdraw superWhat is superannuation?Superannuation, commonly referred to as 'super,' is a long-term investment designed to provide financial stability during your retirement years. It functions by pooling funds into a super...

FBT for Small Business: What You Need to Know to Stay Compliant

by Thomas S Phabmixay | Apr 24, 2023 | Bookkeeping, Business Owners, Fringe Benefits Tax, Payroll and Employment, Tax & Accounting

Home | Articles | FBT for Small Business: What You Need to Know to Stay CompliantAs a small business owner, you're probably familiar with the various tax obligations that you need to comply with. One such obligation is Fringe Benefits Tax (FBT), which can be a little...