Did you know that lower-income earning individuals who earn less than $450 per month are currently not eligible for superannuation guarantee (SG) contributions from their employer? The $450 per month threshold also applies if an employee has more than one part-time or casual job and they earn more than $450 per month from all jobs combined. It simply comes down to the amount earned per job which can disadvantage many younger or lower-income workers.
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.
The JobKeeper payment is a subsidy of $1,500 per fortnight per eligible employee paid in arrears to the employer by the ATO. It’s for businesses [...]
Woolworths is the latest company facing a fallout from the underpayment of staff. In what is believed to be the largest remediation of its kind, [...]
From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount [...]
New pay rates came into effect from 1 July 2019 with the minimum wage increasing by 3% from the first full pay period. The new [...]
The ATO has provided a concession from single touch payroll for payments by small employers to closely held payees. Single touch payroll (STP) was extended [...]
We are a Xero Single Touch Payroll (STP) ready practice. This means we have completed the training required to offer STP services to businesses and [...]
The taxable payments reporting system requires businesses in certain industries to record and report payments made to contractors to the ATO. From 1 July 2019, [...]
Single touch payroll (STP) reporting has changed the way businesses report salary and wages, PAYG withholding and superannuation contribution information to the ATO. For the [...]