Happy New Financial Year!

As we embark on a new financial year, we wanted to take a moment to express our heartfelt gratitude for your trust and support in choosing SaabTeece as your partners in your financial success. We are thrilled to continue our journey together and wanted to share our excitement for the opportunities that lie ahead.

We are also excited to be celebrating 5 years of SaabTeece! Whilst we have over 60 years of history, this year marks 5 years since the merge of Saab & Teece. Please click here to read George & Andy’s reflections on the last 5 years.

To start the new financial on the front foot, there are a few obligations that must be attended to at this time of year to ensure your business remains compliant:

STP Finalisation

DUE: 14th July 2023.

Single Touch Payroll (STP) Finalisation replaces payment summaries/group certificates. Your employees can access their income statements through MyGov or their tax agent. Hence, there is no need to provide them with a paper copy.

Please remember that the 2023 financial year saw the transition to STP Phase 2; where more data is being reported to the ATO in each pay run, therefore, the reconciliation process with STP Finalisation will look a little different this year.

If you would like us to review your STP Data and manage the STP Finalisation process for you, please get in touch, we will then send you a proposal outlining the scope of work and fee.

NSW Payroll Tax Annual Return

DUE: 28th July 2023.

The payroll tax threshold in NSW for the 2023 financial year is $1.2M. It includes wages, superannuation, and some other specific payments.

If you would like us to manage this obligation on your behalf, please click here. A fee of $330 + GST will apply.

Taxable Payments Annual Report (TPAR)

DUE: 28th August 2023.

If your business operates in one of the following industries, you must lodge TPAR to report payments made to contractors and subcontractors:

• Building & construction services.
• Cleaning services.
• Courier services.
• IT services.
• Security, investigation or surveillance services.

Please note that even if you did not engage any subcontractors during the year, if your business operates in the above industries, you must submit a non-lodgement advice.

If you would like us to manage this obligation on your behalf, please click here. You will receive a proposal outlining the scope of work and fee.

Long Service Leave Employer Return

DUE: 31st July 2023.

All NSW employers in the Building & Construction or Contract Cleaning Industry must lodge a Long Service Leave (LSL) Employer Return.

If you would like us to manage this obligation on your behalf, please click here. A fee of $250 + GST will apply.

As always, do not hesitate to contact us.

Kind regards,

SaabTeece