Another court decision has called into question how employees are classified.
To paraphase the decision: calling a worker a casual doesn’t make them a casual.
The same applies for contractors.
When you classify the nature of a worker you need to look at how they do their job.
Your workers are worthy of being paid the correct wages – that is the award wage or higher.
If you are paying your staff a salary you need to run BOOT (Better Off Overall Test) to make sure you aren’t taking advantage of ‘free overtime’.
Are you paying a worthy wage to your workers?
The ATO says:
As the business owner, you are accountable for understanding your record-keeping obligations. If you use a registered tax or BAS agent to manage your records, you still retain primary accountability.
We don’t recommend a filing cabinet as the best way to mange and store your records, e-record keeping is quicker, easier and cheaper.
We choose to partner with Receiptbank to help keep our clients compliant – with the minimum of fuss (for all of us).
It’s super easy for our clients to use – just snap a picture with the phone app or forward the email you receive. That’s it.
We’ll do the rest.
How secure is your password and therefore your business data?
Small businesses seem to be easy targets for scammers, so how can you protect your business?
Take some time to review your data security and update your passwords to passphrases. (And maybe don’t stick your new password to your computer screen)
Are you aware of the legal difference between an employee and a contractor?
There are a number of factors to consider when deciding if the workers is an employee or a contractor. And the agreement between you isn’t one of them!
The ATO and fairwork websites can help you to decide.
So you’ve decided you want to start your own business, now what?
Get some proper advice from experts (not your mates at a BBQ or the pub).
We make it look easy – but there are plenty of traps for young players, contact us for a chat.
The most popular or common delusion we hear from small business owners is: ‘I paid by Amex, so I don’t need a Tax Invoice, I can just use the statement.’
Wrong!
You need a valid tax invoice for everything above $75 (+GST if applicable) if you are planning to claim for the GST paid on your next BAS.
What do peanuts have to do with bookkeeping? Keep reading to find out
What’s the difference between a bookkeeper and a BAS agent?
A BAS agent is a licensed and insured bookkeeper who invoices you for their work.
Don’t be a peanut! Make sure your bookkeeper is a registered BAS agent.
to keep up with the news
Be the first to know about critical dates and important gossip!