Tag "Payroll"

PAYG Witholding on “allowances”

Generally employers must withhold from payments to employees, directors and office holders, and this applies to all full-time, part-time and casual employees. An amount must be withheld from the following payments to employees:

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Single Touch Payroll

The Minister for Small Business, Bruce Billson MP, and the Assistant Treasurer, Josh Frydenberg MP, recently announced that the government will cut red tape for employers by simplifying tax and superannuation reporting obligations through Single Touch Payroll.

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Payroll Q&A – tax implications of a payout of a M/V Lease

An employee is being terminated and is being paid out a number of months salary as part of the termination.

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Payroll treatment of paid parental leave ‘ a confusing mess for employers

The paid parental leave scheme originally commenced on 1 January 2011. Under this scheme, eligible persons are entitled to a maximum of 18 weeks of government funded paid parental leave at the national minimum wage (currently $640.90 per week or $16.87 per hour).

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ATO ID 2014/28: Superannuation Guarantee Status of worker

It is critical to ascertain whether a worker is an employee or a contractor for income tax and superannuation guarantee purposes. The law generally requires a substance over legal form approach; consequently, there is a plethora of judicial and administrative (Tax Office) guidance but no hard and fast rules

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Tax compliance documentation when engaging employees

When a new employee commences work, it is the employers’ responsibility to: • provide the employee with a TFN declaration form • ensure the employee completes the employee section • complete the payer section • send the form to the ATO within 14 days of when employment begins. If the payee does not give the […]

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Service period to be used for determining bona fide redundancy payments

In the recent case, Australian Municipal, Administrative, Clerical and Services Union v Fairfax Regional Media – Newcastle Newspapers (Herald) [2014] FWC 5631, the Fair Work Commission has determined that past casual service is not to be counted towards the period of continuous service for the purposes of calculating redundancy entitlements for former employees of the […]

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Payroll Q&A – Expense payment fringe benefits relating to reimbursement of HECS/HELP fees

Council has received a query regarding a reportable FBT amount from an employee who has received expense payment fringe benefits relating to reimbursement of HECS/HELP fees.

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Call for submissions on guidance for registration of payroll service providers

In an earlier article this year we alluded to the risks in using or acting as a payroll provider that does not hold tax agent registration or BAS registration through the Tax Practitioners Board. Now following requests from key stakeholders in the Australian payroll industry, the Tax Practitioners Board (TPB) has released an exposure draft […]

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Payroll Q&A – Minor & infrequent use of a shared car

Is a shared car that is allocated to one driver but shared from time to time for the private use of another driver while the main driver is on leave (i.e. taking it home for 2 or 3 nights at a time a few times a year while the main driver is on leave) considered […]

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