Information from Australia Taxation Office

Info from ATO

1) Protected Earnings for 2017

The Protected Earnings Amount (PEA) is the amount of wage or salary that is exempt from child support deductions.

This is the minimum amount a worker must receive as net pay, that is, after the tax and child support has been deducted. It is calculated on the basis of 75% of the basic Newstart Allowance.

The PEA is adjusted on 1st January each year.

The new weekly rate for 2017 is $358.05

2) New GST Registrations can Adopt Simpler BAS NOW Easier GST Reporting for New Small Business From the ATO

From 19 January 2017, newly registered small businesses have the option to report less GST information on their business activity statement (BAS).

Talk to your clients who plan to register for GST after 19 January 2017 and let them know they can access the reporting benefits of the simpler BAS early.

To take advantage, they need to do the following based on the reporting cycle they elect when registering for GST:

• Quarterly – select ‘Option 2: Calculate GST quarterly and report annually’ on their first BAS. We will not seek the additional GST information or lodgment of the Annual GST information report. This will provide them with a simpler BAS reporting solution.

• Monthly – insert ‘0’ at labels G2, G3, G10 and G11 on their BAS.

• Annual – they can leave labels G2, G3, G10 and G11 blank on their Annual GST return.

Related References

ATO - Simpler BAS 3) Criminal Activity Targeting AUSkeys Message from the ATO: Check your Access Manager Permissions

We have detected criminal activity where identity thieves have fraudulently obtained AUSkeys linked to businesses. They have used these to access the portals, lodge activity statements and change account details for refunds.

We were able to take preventative action quickly. These AUSkeys have been cancelled and we are working with the affected businesses to protect their online security and monitor activity on their accounts.

To help protect your practice from identity theft, we recommend you take the following steps:

• use Access Manager regularly to check people's level of access to the portals is appropriate

• cancel AUSkeys (in AUSkey Manager) for people who no longer work for you

• immediately disable or remove a person's account if you have any concerns about their activities

• ensure that each person who deals with us online on behalf of your practice has their own AUSkey

• keep passwords secure – they must not be shared

• report any unknown or suspicious AUSkeys by phoning 1300 287 539 between 8.00am and 6.00pm, Monday to Friday.

Original article can be found here - Check you Access Manager permissions