Watch out for the Fringe Benefits Tax (FBT) Grinch ruining the fun for everyone this Christmas!
Read on to find out about nice festive fun that may attract naughty surprise taxes.
Given up trying to find a fully qualified experienced unicorn?
Is it time to consider hiring an apprentice, someone you can train to work your way?
Incentives are available for eligible employers.
Will you be closing your workplace during the Christmas period?
The rules changed earlier this year, let us give you an update.
If you are closing – let your staff know now and check available leave balances.
If your staff have taken leave to refresh recently (or glad to be back at work after the school holidays!) make sure you have processed the leave they’ve taken in xero.
Leave is reported differently to standard wages with STP (Single Touch Payroll) v2.
Keeping leave requests up to date makes it easy to see leave balances (important as we approach Christmas and the summer holidays).
Incorrect classification of workers puts your business at risk of receiving harsh penalties, so let’s make sure you know and understand your obligations.
In June 2023, the ATO updated their guidelines, so now is a good time to review.
You may find that over time a legitimate contractor could become an employee, so you need to monitor and review new and existing workers.
The penalties for misclassification of workers are not pretty.
July-September super contributions, at the new rate of 11%, must be received (by fund) by 28th October.
Severe penalties will apply for late payments.
Yay a day off!
What does that mean for wages?
Fairwork says: Full-time and part-time employees are entitled to be paid their base pay rate for their ordinary hours if they are absent from work because of a public holiday
Bosses and employees generally exchange labour for cash!
There’s a bit more to it than that. They also exchange lots of secret data.
How do your new employees safely exchange their personal details with your HR team (probably you!)? Please don’t say email, its just not a safe way to transfer TFNs and other identity documents.
Holler if you’d like to chat about ways to reduce the exchange of employee data with strangers.
So you are trying to save money/headaches/risk by hiring contractors, rather than employees. Make sure you don’t accidentally create more risk for yourself.We’ve googled a bunch of info and copy pasted it here and cut the rubbish to make it easy for you to review your situation. Links to source
On the 1st August changes take effect for small business.
Family and domestic violence means: violent, threatening or other abusive behaviour by certain individuals known to an employee that both: seeks to coerce or control the employee & causes them harm or fear.
On the 1st August changes take effect for small business (less than 15 employees).
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