Can you tell the difference between an employee and a contractor?
Getting it wrong has become more expensive! Closing the loopholes changes to the Fair Work Act have increased penalties from 27th February 2024.
A sham contracting arrangement is when an employer attempts to disguise an employment relationship as a contractor relationship.
Join Nicole, Trent & Julianna at ABE (Accounting Business Expo).
They will be feature on the bookkeeping stage discussing: The Business of Bookkeeping
What is happening in March?
Monthly lodgers will need to submit and pay February IAS
We’re heading off the the Accounting Business Expo in Melbourne – Nicole will be speaking on a few panels.
The Easter bunny is hopping over for a long weekend and its the end of the Fringe Benefits Tax year. FBT (or Fun Business Tax) is payable on business fun – parties, restaurant meals, gym memberships, company cars, gifts, paying or reimbursing for personal costs. Ask your accountant for more info and where it might impact your business.
How do you show your team that you appreciate them?
If you’re thinking of conveying recognition with a gift – keep the fun business tax (or Fringe Benefits Tax if you want to use the technical term) in mind.
Employee of the month awards and a public pat on the back can also be powerful (and cost effective).
You are probably receiving notifications that its time to switch to new invoicing in Xero.
We recommend sticking with the cornflakes of invoicing (the original and still the best) at the moment.
Not all the ingredients we know and love have been updated for the new system.
Ignore the in app messaging for now, we’ll let you know when the boffins have built out the features as the switch-over deadline looms.
This is it, we’ve reached the absolute last minute!
Lodge and pay your December BAS today to avoid fines.
Haven’t got the funds available to pay in full? Make a payment plan or risk the debt collectors knocking on your door.
Are your team working their proper hours? Do you know what the proper hours are?
Fairwork says:
Maximum weekly hours form part of the National Employment Standards (NES). The NES apply to all employees covered by the national workplace relations system, regardless of any award, agreement or contract.
– maximum ordinary hours that can be worked in a day, week, fortnight or month
– minimum ordinary hours that can be worked in a day
– times of the day that ordinary hours can be worked this is called the spread of hours (for example, between 7am and 7pm).
The ‘spread of hours’ may catch you out if you allow your team to work flexible hours (after they’ve had dinner) – they still need to fit inside the spread of hours or you could be up for overtime rates!
Existing Amex bank feeds will stop working on 28th February – act now to prevent missing data!
Please see notice and instruction from Xero
Bookkeepers and accountants looking to reduce time spent on manual tasks can join Nicole on Thursday 15th February 2024 to see how you can ‘streamline’ your workflows.
It promises to be insightful!
On 6th December 2023 the ATO released a new Tax Ruling in response to a High Court decision about classifying workers.
We’ve trawled through various ATO pages and summarised it for you with links.
To work out if your worker is an employee or contractor, you need to determine whether your worker is serving in your business or is running their own business. You do this by reviewing the legal rights and obligations in the contract you entered into with your worker.
– Ask for help if you need it!
