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
If you are participating in JobKeeper v2.2 – it is now time to submit January actual and February estimated sales to the ATO.
Reports need to be submitted by the 14th February for you to receive JobKeeper payment for January wages.
The portal declaration is a legal document, fibbing to the ATO isn’t a good idea!
In order to receive JobKeeper v2.2 you need to enrol and have made minimum wage payments by 31st January.
If you would like us to assist you, please let us know ASAP!
December is super due now
October-December super contributions must be received (by fund) by 28th January.
Payments should be made now as it can take up to 7 days to process.
Please note that late payments of superannuation are not tax deductible.
JobKeeper v2.1 ends on Monday 4th January – don’t overpay!
Do not change your payment cycle to make an extra final payment.
Float is a cashflow app for business owners who don’t like money surprises!
Why we love Float: Daily bank balance projection and ‘what if’ scenarios.
Ask us to arrange a demo.
It’s holiday time! Hurrah!
Don’t forget to record staff leave – you’ll want to keep their balances up to date.
If we usually process wages for your staff, please let us know your office closure dates and we’ll let you know if there are any issues with leave balances, explain the fine print and discuss your options with you.
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.
Hot off the press!
The ATO says:
Important information – October 2020 updates
Employers have until 16th November 2020 to update their payroll systems.
JobKeeper 2 is go, but it is too early to confirm if you qualify.
Confused yet?
Your business needs to measure ACTUAL turnover for the September 2020 quarter and compare to September 2019 using the same method as your BAS. Decline must be 30% or more to be eligible for JobKeeper2 payments.
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