Tag "Payroll"

Payroll – What to expect from the NSW Review of Payroll Tax Administration

All readers that are interested in payroll tax should consider the outcome of the NSW Review of Payroll Tax Administration. The review should be regarded as a useful predictor of developments in all states and territories, not just NSW.

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Payroll Q&A – Superannuation guarantee: payment in lieu of notice

Question We have a case where an employee is terminating employment and our organisation (the Council) is paying the employee XX* weeks’ pay in lieu of notice. According to SGR 2009/2, payments in lieu of notice are considered ordinary time earnings (OTE) (see paragraph 38). Therefore, super would be payable because the payments are equivalent […]

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Payroll Q&A – Are council subsidiaries exempt from payroll tax?

The payroll tax legislation of some states allows an exemption for the subsidiaries of councils. Does this exemption exist in Queensland payroll tax legislation?

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Payroll Article – Voluntary retirement: Is it worth considering?

Severance payments made under an ATO approved early retirement scheme are subject to a tax-free threshold. This article explores the tax implications of certain early retirement packages that may incentivise voluntary retirement for your employees.

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Payroll Q&A – Do the new ‘Black Economy’ measures for PAYG withholding apply to income tax exempt bodies?

There is legislation currently sitting before parliament which apply to payers that have failed to withhold from payments of salary and wages to their employees. If passed, will the new legislation apply to income tax exempt bodies?

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Payroll – Streamlining the transition to Single Touch Payroll

Are you finding it impractical to provide a written declaration each time a registered agent lodges a STP pay event on your behalf? The ATO has responded to recent feedback by allowing eligible parties to sign an annual declaration to streamline the new reporting process.

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Payroll Q&A – Genuine redundancy payments and entitlements under contracts

Question Under our employment contracts, there is usually a clause included that there will be a payment for one month’s salary for normal terminations and a payment of six months’ salary for a redundancy. In the case of a genuine redundancy, would this mean that the first one month’s salary payment would be treated as […]

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Payroll – Changes to Victorian Long Service Leave: What you need to know

Victorian employers, are you aware of the changes to long service leave (LSL) from 1 November 2018? Now is the time to review and update your LSL policies and procedures to ensure that LSL entitlements will be correctly calculated and administered once the new law takes effect.

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Payroll Q&A – Genuine redundancy payments made to employees over the age of 65

Question I have an employee over 65 who is genuinely being made redundant due to their position no longer being required. They will receive redundancy payments per the council’s redundancy provisions. My question is, how should those payments be taxed? If the payment is not eligible for tax-free treatment under the bona-fide redundancy rules, are […]

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Payroll – Withholding on redundancy payments: Not as simple as it seems

The Board of Taxation has announced that it is conducting a review into FBT compliance costs. Click below to read how this could affect your organisation.

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