Business Alert at 9:00am With CVA – Single Touch Payroll, are you ready?

Clear Vision • January 23, 2019

Single Touch Payroll is also called real-time payroll reporting because it means every time a business pays their workers, all salary information is sent to the ATO. This includes wages, deductions and super information. This real-time reporting is generally done through accounting software platforms such as MYOB, Xero or Quickbooks.

The ATO has said about 730,000 businesses will need to start doing STP reporting under the changes; there are about 45,000 businesses currently doing STP reporting after it became a requirement for businesses with more than 19 workers in July 2018.

There’s no shortage of concerns about the extension of STP reporting to smaller employers. Worries range from businesses not being aware of the changes to micro-employers (four or fewer workers) not having digital payroll software or access to reliable internet.

Digital payroll software, makes STP reporting simple and straight forward. Unfortunately if you’re not reporting correctly, it will increase the risk of your business and increase the risk of potential audit activity. Therefore we urge everyone to contact us and get up to date as soon as possible. You’re not alone.

STP There will be more Business Alerts relating to STP in the coming months but if you would like more information now, call us on 07 4688 2500. We can get you ready now to ensure a smooth transition later.

How Much Do You Need to Make? Understanding Business Turnover

By Caroline Gillies • July 13, 2025
Running a business isn’t just about making sales — it’s about making enough sales to cover your costs and pay yourself what you deserve. But how do you figure out how much turnover (aka revenue) you actually need to make each month? Knowing this number helps you: Set realistic sales targets Price your products or services properly Know when to cut costs or increase margins Understand when your business is sustainable This isn’t just about numbers — it’s about clarity and control. Once you know your required turnover, you can stop guessing and start planning. Whether you’re a solopreneur, a growing startup, or a small business owner, this is the foundation of making your business work for you — not the other way around. We love numbers — seriously. And we get that not everyone does. If you need help breaking things down in a way that’s simple, practical, and actually makes sense (even if numbers aren’t your thing), call Clear Vision Accountancy Group today on 4688 2500.

12% Superannuation Guarantee - 1 July 2025

By Caroline Gillies • June 22, 2025
From 1 July 2025, the Superannuation Guarantee (SG) rate in Australia will increase to 12%. This means employers will be legally required to contribute at least 12% of an eligible employee's ordinary time earnings to their superannuation fund. This increase is the final step in a legislated rise from 9.5% in 2021 to 12% by 2025, aimed at boosting retirement savings for Australian workers. If you use Xero for payroll, the SG rate should automatically update in the system. However, we recommend you double-check your payroll settings to ensure everything is correct. If you’re unsure or need assistance, please contact your bookkeeper or get in touch with us at: Clear Vision Accountancy Group (07) 4688 2500 We’re here to help you stay compliant and avoid any costly errors.

Capital Gains Tax Implications of Subdividing Land in Australia

By Caroline Gillies • June 1, 2025
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