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News & Updates
STP for Employees – What to tell your employees about STP
Effective 1st July 2019 or before, it is an ATO requirement for all businesses with employees to report payroll and superannuation data electronically to the ATO after each payrun instead of only providing annual Payment Summary information (previous named Group...
Helpful links to webinars and articles for FY19 Financial Year End
Regardless of the financial year of your organisation, there are some very important things to do for the end of the Tax, July to June financial year. Here are some links to very helpful webinars & articles to help you with the year–end tasks!! Watching and...
Amazing growth – Xero’s year end results
Xero continues to grow and grow. It achieved great results in the FY19 year just ended* *Xero’s financial year is 1 April – 31st March. Click here to hear Steve Vamos’, Xero’s CEO, presentation. Significant points are: Revenue Growth 36% Positive Cashflow result...
Religious Practitioners and Single Touch Payroll
From 1st July, 2019, all employers will need to submit payroll details to the ATO after each payrun. Many employers are already doing this and Ministers and other Religious Practitioners are included. Religious Practitioners have special fringe benefits tax...
Pros & Con’s of 3 different ways to pay your Minister’s Benefits
Religious institutions may be eligible for FBT concessions for benefits they provide to religious practitioners. Churches have different names for these benefits. Some are: Minister’s Expense Allowances (MEAs) Non-Cash Benefits Minister’s Benefits To...
The Assurance Review Service
Audit doesn’t have to be a year-end ordeal Maybe you have completed the audit for year end? Maybe you are rushing now to compete the church accounts and need just the final approval? This is the opportunity to consider the simpler and cheaper alternative to an...
Casual Employees may change to part-time – new legislation
Many churches employ people on a casual basis for many roles and tasks. New legislation was recently passed that affect many modern awards that may affect church employees – clerical employees in particular. In summary A person engaged by a particular employer as a...
Benkorp is getting ready for Single Touch Payroll (STP)
Benkorp is getting ready for Single Touch Payroll (STP) STP is mandatory for all organisations employing staff from 1st July, 2019. It has been mandatory for employers with 20 or more employees from 1st July, 2018. Single Touch Payroll is a new ATO initiative. STP...
Xero’s reporting platform – amazing flexible reports!
Xero continues to develop it’s new, flexible reporting platform. We at Benkorp, use these more and more. For Profit & Loss reports and Balance Sheets we can: Add many different columns for comparatives: Actual Data – eg last year, last month, Tracking ...