Posts

FBT, COVID-19 tests and the otherwise deductible rule

Be aware of the rules and exemptions regarding COVID-19 testing

Whilst FBT obligations do exist, there are exemptions and deductions that can be granted when providing COVID-19 tests to employees

You may have to pay Fringe benefits tax (FBT) if you:

provide your employees or their family members with COVID-19 tests such as a rapid antigen test, […]

Stapled super fund details start November

Request stapled super fund details for employees

What you need to do from 1 November 2021

From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. You may now need to request their […]

Extra ‘super’ step when hiring new employees

Stapled super funds

Most new employees are eligible to choose the super fund into which employers pay their super guarantee contributions.

Currently, when a new employee doesn’t choose their own super fund, the employer must pay super contributions into their default fund.

From 1 November, if any new employees start, the employer may have an […]

Single Touch Payroll (STP) Phase 2 reporting

Learn about what STP Phase 2 means for you

Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022.

If you employ staff, you’ll need to be ready for this change.

New guidelines that explain the changes are now available to help.

STP Phase 2 reporting means changes to the way you report:

amounts paid […]

How business owners can win and keep the right talent

Many small business owners remain optimistic about a new financial year

Despite this, the ongoing uncertainty around COVID-19 has resulted in an unstable economy, with the impact on the job market hard to predict.

In fact, Xero research revealed that almost half of small and medium business owners believe small businesses will be key […]

Financial year-end preparation

What’s changed and what’s new?

It has been a year of recovery for Australian businesses, with the country achieving some of the best economic outcomes in the world.

While there have been disruptions, there have also been additional allowances and tax changes designed to assist businesses.

Stay on top of your obligations with this helpful […]

Expansion of Single Touch Payroll

Employers to report additional information through STP on or before each payday.

In the 2019-20 Budget it was announced that the data collected through Single Touch Payroll (STP) will be expanded.

This expansion of STP reduces the reporting burden for employers who need to report information about their employees to multiple government agencies and supports […]

Changes to STP reporting from 1 July

This may affect how you report to the Tax Office

There are changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021.

Employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are covered by a deferral […]

JobMaker Hiring Credit

Information for employers

The JobMaker Hiring Credit is for employers

The JobMaker Hiring Credit recently opened for employers and we would like to share some information with our clients to make you aware of this opportunity.

The scheme applies to employees starting employment between 7 October 2020 and 6 October 2021.

It is a scheme […]

Small business owners bear brunt of mental health challenges

Uncertainty driving mental health concern for small business

The COVID-19 pandemic and its wider economic impact is the key business-related cause of mental health challenges for Australia’s small business owners, according to a recent MYOB Business Monitor survey.

Speaking at the recent Small Business Recovery roundtable co-hosted by American Express and The Australian Financial Review, MYOB […]