ICB Newsletter (September 2025)
October 17, 2025
Newsletter Contents
Our obligations in business are forever changing. Or maybe they don’t and we just need occasional reminders.
Maximum Business Solutions (MBS) can help. And we are also reminded through our membership of the Institute of Certified Bookkeepers (ICB). Here are two important subjects:
- Self-Onboarding Tools Don’t Replace ATO Obligations
- Including Debts On Hold In Account Balances
Newsletter Summary
Self-onboarding tools in payroll software let employees enter their own details, saving time and reducing errors. However, employers remain legally responsible for record-keeping and ATO compliance. Businesses must review and securely store onboarding documents, including TFN declarations, for at least five years.
From August 2025, the ATO will include “debts on hold” in account balances, making all outstanding amounts visible. Debts over $100 will trigger a notification, and interest is waived for six months after inclusion. This change improves transparency and helps businesses plan payments and avoid future interest.
