Your Employee Payment Summaries are required to be delivered to your employees by the 14th July 2018. Before you produce the Payment Summaries it is recommended that an end of year check is done to make sure everything reconciles. It is much
Annual Wages Review for 2018
Each year, the Fair Work Commission reviews the national minimum wages and pay rates paid under Awards and has announced a 3.5% increase to base rate of pay applying from 1 July 2018. If you are paying your employees under an Award, please make
Workplace Health & Safety ALERT for business owners
The following is an extreme example but one that demonstrates the need for business owners to ensure they have proper WH&S practices in place. The following story was related to me by an associate who is a partner in another accounting
Contractors v Employees – follow up
We had a lot of feedback in respect of the April article on contractor v employees. We thought we should follow it up with some further information. From the feedback there appears to be some confusion about the application of the penalties. The
Taxable payments reporting for couriers and cleaners
Background From 1 July 2018, if you are a business that provides courier or cleaning services you will need to report payments you make to contractors if: · the payments are for courier or cleaning services · you have an Australian business number
SMSF’s have new reporting obligations
Due to recent legislative changes it is a requirement by the ATO that all superannuation funds report the pension balance as at 30 June 2017 by the 1 July 2018. This is reported to the ATO using the Super transfer balance account report
NSW emergency services levy – what’s changed?
Firstly, what is the NSW Emergency Services Levy? The NSW ESL provides funding for emergency services in NSW, including Fire and Rescue NSW, the NSW Rural Fire Service and the State Emergency Service all of which help keep out community
Receiving wages in the form of cash
Author: Steve Ryan - this article appeared in the May 2018 newsletter The ATO is targeting employers paying wages in the form of cash. While this is not illegal, some businesses deliberately pay wages in cash to avoid tax and employee
Federal Budget update
Author: Stephen Mason - this article appeared in our May 2018 newsletter On Tuesday 8 May, the Government announced the Federal Budget including these proposed changes and initiatives: A new tax offset for low and middle income earners, up
Downsize contribution to super
Author: Stephen Mason (this article appeared in our May 2018 newsletter) Last year’s Budget introduced the ability for retirees older than 65 to contribute up to $300,000 each into super where the proceeds arose from the sale of their
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