Nail your requirements with these top tips from the ATO.

Checking out tools and equipment for the end of financial year sales? Here’s the best tool for your job – knowledge of your obligations as an employer.

14 July Single Touch Payroll (STP) deadline

You have STP reporting obligations for any employees and if you hire apprentices, trainees, labourers, and trades assistants as they’re classified as employees.

Make your end-of-year finalisation declaration through STP before 14 July, making it easier for your employees to complete their income tax return, and saving you time as you won’t have to provide statements.

But – tick the finalisation box again if you need to make updates after you’ve finalised the declaration. Otherwise, your finalisation declaration won’t update.

Keep things super with your employees

A good tradie takes care of their tools, and a good boss pays eligible employees their super, including contractors hired mainly for labour. Pay the right amount of super guarantee (SG) on time and to the right fund.

Don’t miss these dates

Pay and report your SG at least four times a year by the 28 January, April, July and October. Do this electronically so it meets SuperStream requirements.

If you miss the due date even by a day, lodge a super guarantee charge (SGC) statement and pay the SGC to the ATO. Avoid penalties of up to 200% of the SGC by lodging on time. The current rate is 10.5% of your employee’s ordinary time earnings (OTE), which will increase to 11% on 1 July. If you miss the due date and have to pay the SGC:

• it’s calculated using your employee’s salary and wages not OTE
• it costs more than the super you would have paid, and
• you won’t be able to claim it as a tax deduction.

When FBT comes along for a ride

Do you provide utes to your employees for private use?

The FBT exemption for eligible commercial vehicles applies only if private use is limited.

Eligible vehicles include:

• a single cab ute, or
• a dual cab ute designed to carry either:
  • a load of 1 tonne or more,
  • more than 8 passengers (including the driver), or
  • a load of less than 1 tonne but not designed for the principal purpose of carrying passengers.

Limited private use includes:

• travel between home and work,
• travel that’s incidental in the course of employment duties,
• non-work-related use that is minor, infrequent, and irregular (such as occasional use of the vehicle to remove domestic rubbish).

If your employees drive the utes to the footy, to the coast for a camping trip, or use it to tow the tinny for a weekend getaway, this is not limited private use. FBT applies as you’re providing a car fringe benefit or residual fringe benefit.

Further information

Check out ato.gov.au/employers or get advice from your registered tax advisor.