Employee Appreciation Day is tomorrow.
Want to say ‘thank you’ without inviting the ATO to the party?
Handle the ‘fun tax’ (FBT) like a pro.
Keep your gift under $300 (including GST) per person. For the best tax outcome, stick to Non-Entertainment gifts like a hamper or a gift card. You get the deduction, they get the prize!
And don’t forget the non-cash options
What are you planning for your team this year?
How is the powergrid in your business looking?
Are you plugged into a fast charger or are you trying to run your entire business on a single AA?
Do you fear your staff starting to leak acid as their leave balances are too high? Encourage them to take the time to recharge and reduce your liabilities.
Don’t forget about real batteries – carefully dispose of the old tech you might have lying around your office 📱 💻 📷 ⌚️ 🔦 🎧 🕹 🖥 🚗
Don’t wait for a blackout – book a long weekend off, a delegate a mentally draining task and save your energy for the important stuff – making sales and delivering services to your clients.
It’s only mid February, and if you are already down to 1% – ask us about our uninterrupted power supply accounts department services.
Its Employee Legal Awareness Day and awareness is important for small business owners.
When it comes to the law, what is an employee? And who can be a contractor?
Don’t forget that super may still apply for genuine contractors if they are principally supplying labour.
We’ve googled to bring you the important bits from various government departments.
To follow the law, businesses need to make sure they aren’t treating employees as contractors – it’s not as simple as whether or not they have an ABN or send invoices.
You are responsible for classifying your worker for tax and super purposes and you need to get it right. If you make an incorrect decision, you may face penalties.
Don’t forget to record staff leave and keep balances up to date.
– Keep records of when staff are at work or not at work for liability (workers comp) purposes.
– You must provide leave balances to employees in a timely matter to staff Fairwork compliant.
– Large balances might result in a request from a team member for a very long holiday – could you cope without them for a long period?
– Unused leave is a liability in your accounts – if an employee leaves, you’ll need to pay it out, so its best to know where you stand.
Back to school and back to work – let us know if staff leave needs to be updated.
October-December 2025 super contributions must be received (by fund) by 28th January for all employees – including working directors and some contractors, regardless if you pay monthly or quarterly.
Late payments of superannuation are not tax deductible and attract interest, fines & additional paperwork.
Directors also become personally liable for the debt.
Authorise payments from Xero no later than 2pm on Friday 16th January.
Thinking about rewarding staff with a bonus?💰💰💰
Ask us to help you with calculations.
– If you fail to withhold tax or report the payment (STP), the bonus becomes non-compliant (no tax deduction for you!)
– Superannuation is likely to apply to the bonus amount
– Schedule 5 tax scale must be used for PAYG withholding
We will calculate the total cost to you and the net amount the employee receives to avoid budget surprises.
What do you need to know about processing wages for annual leave over the Christmas break?
We’ve googled the important info for you.
Fairwork says:
Holiday pay (annual leave) allows an employee to be paid while having time off work.
Full-time and part-time employees get 4 weeks of annual leave every year. Casual employees don’t get paid time off, but can ask their employer about taking unpaid leave for holidays.
When a public holiday falls on a full-time or part-time employee’s usual work day, employers need to pay them their minimum pay rate for their usual hours.
The festive season is just around the corner, and you’re likely planning staff parties, client events, and gifts. While this is a wonderful time for celebration, it’s also a crucial period to consider Fringe Benefits Tax (FBT).
Mismanaging your Christmas cheer expenses could lead to a surprise FBT liability that lands well after the holidays are over!
Don’t wait for a nasty surprise in the New Year. Proactive planning now means you can enjoy the holiday season knowing your books are in order!
Speak to your licenced tax professional now
With the Christmas and New Year break approaching, many businesses are planning their annual shutdown. If you intend to close your workplace, it’s critical to be across the current Fair Work rules to ensure you are compliant and avoid unexpected wage costs. A “shutdown” is a temporary closure of a business, such as over the festive season. The rules for directing award-covered employees to take annual leave changed in 2023.
The full amount of super for 1st July to 30th September (at the new rate of 12%) must be received by the super funds on or before October 28th.
The moment a payment is late, it becomes non-deductible.
Directors of a company can be personally chased by the ATO for the unpaid super amount.
Authorise the payment now!
