11 Oct 2019 STP – interesting times ahead
Member 274 writes:
Newish business: about 18 months old (set up by a previous accountant) – family trust with a corporate trustee – two employees only = Mum and Dad.
Me trying to do 2018-19: “Can I have your copy of the wages book?”
Client: “Sure, but for 2019-20, do I have to keep the wages book – I’m lodging everything with STP using my Reckon App on my phone.”
Surprised at this news, I decided to have a look on the Portal – sure enough, Mum and Dad’s records both have wages recorded for 2019-20.
The family trust record shows no wages paid yet for 2019-20. So, who is “paying” Mum and Dad via the App?
It’s the corporate trustee – somehow Dad has found the ABN for the company and is lodging everything in its name and sure enough, there is now a BAS sitting there for the company for September with PAYG(W) boxes on it.
Won’t reconciling everything at 30.6.20 be fun next year?