Payroll

Stage 3 tax cuts: welcomed, but a sting in tail for salary packaging

Whilst the new proposed Stage 3 tax cuts will produce savings for most taxpayers, the changes will also have an unconsidered, but significant, impact for salary packaging and employees of FBT exempt and rebatable employers. Find out how you and your employees might be impacted by the upcoming changes.

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Employees vs Contractors – Significant new guidance from the ATO

The Australian Taxation Office (ATO) has recently released draft guidance, TR 2022/D3 dealing with employee v contractor classification. This seeks to provide clarity on when an individual is an “employee” for the purposes of the PAYG provisions. Here are the details you need to know.

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Member Q&A: salary sacrifice at a Public Benevolent Institution and its impacts

Question I am new to working for a Public Benevolent Institution, and am wondering how salary sacrificed amounts impact the organisations payroll tax, workers compensation and other obligations. The organisation only allows employees to salary sacrifice amounts up to the FBT exemption cap so does not pay FBT. Answer Where an organisation allows an employee

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Are you reporting the correct STP information to the ATO?

Employers should now be fully conversant with reporting payroll data to the ATO under the single touch payroll (STP) Phase 2 rules. Whilst the Phase 2 initiative is intended to reduce an employer’s reporting burden by allowing the ATO to share payroll information with multiple government agencies (such as Services Australia), the additional data now

Are you reporting the correct STP information to the ATO? Read More »

This article provides a general summary of the subject covered and cannot be relied upon in relation to any specific instance. It is not intended to be, nor should it be relied upon as, a substitute for professional advice. TaxEd Pty Ltd and any person connected with its production disclaim any liability in connection with any use.