What are the proposed details of the JobMaker Scheme? Can your organisation utilize the Scheme? Is a particular prospective employee within the ambit of the Scheme? The JobMaker Hiring Credit scheme that was announced as part of the 2020-21 Federal Budget (‘Scheme’) is designed to improve the prospect of young individuals getting employment in …
Read moreJobMaker hiring credit: What is it & how does it work?
Question My organisation was not able to pay its employees superannuation by the due date. What happens now? Answer Before outlining the consequences of missing a superannuation payment, we note the due dates for payment of superannuation, as outlined on the ATO website, are as follows: *When a due date falls on a weekend or …
In a previous article (see September 2020 TaxEd Update re Moffet case) we examined who is an employee for superannuation guarantee (‘SG) purposes, in particular the extent to which contracts for the ‘labour’ of a person cause the person to be an employee of the other party. In the Moffet case a dentist was held …
Read moreSuperannuation payments to independent contractors – The MWWD Case
Question Our organisation has decided to provide employees with paid days off when they are required to get tested for COVID and self-isolate. These paid days off will be provided by our organisation without a corresponding reduction in the employee’s leave entitlements and will be provided regardless of whether they are full-time, part-time or casual …
Read morePayroll Q&A – Additional Paid Leave Provided for COVID Testing and Self-Isolation
Question Can an employee salary package child support payments? Answer The rules regarding salary packaging are set out in Taxation Ruling TR 2001/10 and are summarized on the ATO website (click here) Subject to the usual rules being satisfied regarding what constitutes an ‘effective salary sacrifice agreement’ an employee’s child support obligations can be included …
Read moreMember Q&A – Can child support payments be salary packaged?
JobKeeper 2.0 is finally here and looks slightly different to what was originally announced back in July 2020. This article highlights some of the key changes to the JobKeeper Payment scheme between JobKeeper 1.0 and JobKeeper 2.0. For the past couple of months, the extension to the JobKeeper Payment (‘JKP’) scheme (the extension is generally …
Australian employers are very much aware that they are required to provide a minimum level of superannuation support for their employees. The distinction between an employee or an independent contractor is not always clear cut and the risk for an employer of getting the status of their worker wrong can be very costly. Whether a …
As outlined in a recent TaxEd Update in this article, on 21 July 2020 the Treasurer announced that the JobKeeper Payment (JKP) scheme, which was due to end on 27 September 2020, would be extended from 28 September 2020 to 28 March 2021. This extension, colloquially known as ‘JobKeeper 2.0’, would also introduce modifications to …
Read morePayroll – And the changes to JobKeeper roll ever on…
Question Each year we get questions from employees regarding Reportable Fringe Benefits disclosed on their Income Statement that we are required to report under Single Touch Payroll and, previously, on their Payment summary. What are our obligations when dealing with these questions? Answer Another important year end function for employers is reporting an employee’s ‘reportable …
Read morePayroll Q&A – Employer obligations for questions regarding reportable fringe benefits
On 21 July 2020, the Government announced JobKeeper 2.0 to have effect from 29 September 2020 to 28 March 2021. This article considers some of the key modifications announced. Since its announcement on 30 March 2020, the JobKeeper Payment (‘JKP’) scheme has been a lifeline for businesses and not-for-profit entities alike, with many across various …