Single Touch Payroll 2.0 is coming in 2022
What does that mean for your business?
The ATO wants you to report wages in a more granular way, gross wages will be broken down into the various components
What do you need to do?
Nothing right now, your accounting software will do most of the work in the background, so Sit Tight Please.
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Have you paid super for your employees for the September quarter?
Make sure you’ve updated super rates to 10% for all employees.
This also the first quarter of new rules for closely held employees (owners and their families), annual wages are no longer acceptable, they need to have wages declared each quarter and super will be payable.
The super needs to be in your employees account by 28th October – tomorrow! If you haven’t already paid you’ll probably miss the deadline. It takes longer than you think for clearing houses to process the payment and distribute to each employee. And you are on the hook for that delay.
Oh yay! More red tape for small business!
From 1st November 2021, stapled super kicks in.
Super funds will be stapled to employees as they move from job to job, so if they don’t complete a superchoice form, you’ll need to check for fund details with the ATO, rather than just add the new employee to your default fund.
Super is due now for staff (including owners and their families)
July-Sept super contributions must be received (by fund) by 28th October.
Don’t forget to check that all super has been accrued at 10%.
Authorise payments right now as it can take several days to process.
Here in NSW we will have more freedoms next week, so what do you need to organise this week?
If you’ve had to stand down staff – do you need to make sure they are ready to return to work?
Are staff still home schooling their kids and can’t return just yet?
Have you got everything organised for next week?
July-September super contributions must be received (by fund) by 28th October.
Ensure all pay runs are processed for the September quarter, before you attempt to make payment.
Closely held employees (owners and their families) will also need to be included.
Don’t forget minimum rates of super should be 10% of wages.
Does anyone really understand personal / carers leave (Sick leave in the old lingo)?
Well here is the official explanation from FairWork
Employees can’t usually take sick leave to get vaccinated against COVID-19. This is because the entitlement to sick leave under the National Employment Standards is only available when an employee is unfit for work because they are ill or injured.
We have a new process for employee onboarding staff on Boss/Employee Exchange Day!
We are now using a program called Tanda for easy and paperless employee onboarding.
Sing out if you have any questions when it comes time to exchange wages for labour in your business.
Not sure of the best way to keep your employees safe and protect your business?
FairWork has update their website with more info on Australian workplace laws and COVID.
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