A senior figurehead from the Tax Office will join the My Business Live webcast this month, with the aim of answering the many questions SMEs have about transitioning to Single Touch Payroll.
The webcast — partnered by Intuit and to be broadcast live from 11am on Tuesday, 14 May — will see the My Business team joined by ATO assistant commissioner and program lead John Shepherd (pictured) to discuss some of the major points on Single Touch Payroll (STP).
Also joining the webcast will be Lielette Calleja, director of All That Counts, who will share her own experience as a business leader of making the transition to STP.
Both will be available to answer viewer questions in real time.
It comes ahead of the 1 July 2019 roll-out of STP to employers with fewer than 20 employees.
Bookkeeper Leanne Berry of Love Your Numbers recently said that some business owners are more willing to pay money for entertainment subscriptions than for business ones like accounting software.
“We live in a subscription world — they are happy to have subscriptions for Netflix for their entertainment, but they are not happy to have a subscription for the financial management and security and safety of their business,” she said.
“You are paying a subscription for Netflix, Stan, Spotify, and they all add up to a more than $100 on a monthly basis, and you are paying that without any qualm and it’s solely for entertainment purposes.”
But many business owners — even those who already have accounting software — remain unsure or even fearful of the impending change to payroll reporting and how they will adjust to the new reporting standard.
“I have STP reporting on my bookkeeping software but am having trouble making time to learn how to set it up!” one My Business reader said in response to the story.
“It is not a matter of just pressing a button; you have to set up pay runs and to do this there are other things to set up which I haven’t had the time to look at, so I will get to this when I am not snowed under with BAS, super, invoicing, tenders, payroll in general, end-of-year TAX etc. (my list is endless).”
The webcast is free for anyone to access, and it can be accessed via the My Business Live registration page.
My Business has also compiled a dedicated guide for business owners on the transition to STP, which can be downloaded for free ahead of the webcast.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
Ask the Experts: Does automation stack up financially?
By Christopher Overton
Opinion: How bad do things have to get?!
By Adam Zuchetti
Business lessons from the All Blacks
By Steve Stanley