If you are upgrading your phone to something a little more modern – you’ll need to transfer your 2 step authenticator BEFORE you lock yourself out of all your cloud apps!
Ask us for help so you don’t temporarily lose access to xero.
On Friday 26 March 2021, the Fair Work Act 2009 (FW Act) was amended to change workplace rights and obligations for casual employees. The changes were made by the Fair Work Amendment (Supporting Australia’s Jobs and Economic Recovery) Act 2021 (Amendment Act).
Are you all over business record management?
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’re registered BAS agents, we can help setup systems and apps to get your records under control.
(we can also help you convert old records to digital so you can ditch the filing cabinet)
No idea what FBT even is?
Fringe Benefits Tax when an employee receives benefits from their employer other than wages (and the government still wants a cut of that).
Your tax agent can help you define what is considered a fringe benefit and prepare the paperwork for lodgement (and payment).
If you have a company car, take an odometer reading today and review your spending.
What are proper hours?
We know that a standard working week in Australia is 38 hours. You may not know they need to be completed inside a specific spread of hours.
If you are allowing your team to work outside and not their ‘proper hours’ you may be liable for overtime or penalty rates.
According to the ATO website: ‘An employee works in your business and is part of your business. A contractor is running their own business.
If a worker is legally an employee, a contract saying the worker is a contractor will not make the worker a contractor at law.
Now is the time to review your human resources
Best to refresh your memory on the allowable deductions and FBT rules, before the event, so you don’t end up with any surprise tax to pay!
It is possible to enjoy some tax benefits out of your generosity and avoid Fringe Benefits Tax (FBT).
The following is a general summary of the tax treatment of Christmas giving.
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.
