Directors are personally liable to pay certain unpaid tax owed by their company to the Commissioner of Taxation. Soon, this is likely to also include GST. This personal liability can be avoided by taking appropriate timely action. Directors need to be aware of when these liabilities can arise and which steps need to be taken …
Our councillors receive an annual telecommunications allowance that is paid fortnightly towards their telecommunications needs. How should this allowance be treated from a salary/wages, pay-as-you-go withholding (PAYGW) and superannuation perspective? Question Our councillors receive an annual telecommunications allowance that is paid fortnightly towards their telecommunications needs. How should this allowance be treated from a salary/wages, …
Read morePayroll Q&A – Telecommunications allowance paid to councillors
Businesses will often face the termination of an employee’s employment. There are a number of reasons this may happen—for example, via an amicable resignation or via a redundancy—and in many instances the employer will pay the exiting employee a termination package. This termination package can consist of various elements such as unused leave payouts, transfers …
Money flows out under digital process such as Single Touch Payroll (STP) – what if money could flow in through a digital process? E-Invoicing (a step beyond electronic invoicing) is coming. Readers will be aware that for many businesses, money has been flowing out through a fully digitised process under the STP regime for some …
Read moreGeneral Article – E-invoicing, not electronic invoicing – there is a difference