How to get your payroll right A series of high-profile examples of businesses underpaying their employees has brought the need to get payroll right into sharp focus. Complex award and enterprise agreements can complicate payroll obligations, in terms of both regular salary and wages and the ongoing need to pay employee superannuation. On top [...]
Bushfire relief from ATO obligations The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes. Taxpayers can also call the ATO directly to request further assistance, such [...]
5 things that will make or break your business’s Christmas The countdown to Christmas is now on and we’re in the midst of the headlong rush to get everything done and capitalise on any remaining opportunities before the Christmas lull. Busy period or not, Christmas causes a period of dislocation and volatility for most businesses. [...]
Australia embraces Black Friday and Cyber Monday The Black Friday and Cyber Monday sale concepts have well and truly arrived in Australia with retailers embracing this latest retail event to stimulate what has been an economically lack lustre year. Why ‘Black Friday’? For many Australians, Black Friday is just confusing – shouldn’t Black Friday’ [...]
When you start using Xero, you’ll wonder how you ever managed without it. We’re big fans here at Acme Accountants and know how happy clients are when they can see their cash flow situation whenever they want, send online invoices, pay bills and run their businesses more effectively. While we set up the basics for [...]
Legislation in limbo A budget, an election and the legislation that hasn’t made it through. The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation. Next month, on 2 April, Parliament reconvenes for the Federal Budget and it’s likely that an [...]
Contractor or employee? Defining workers in the gig economy A former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. We explore the implications of the case. Pivotal to the Fair Work Commission’s decision was the classification by Foodora of Mr [...]
No tax deductions if you don’t meet your tax obligations New laws passed by parliament last month directly target the behaviour of taxpayers that don’t meet their obligations. Tax deductions denied If taxpayers do not meet their PAYG withholding tax obligations, from 1 July 2019 they will not be able to claim a tax deduction [...]
The new rules for gift cards – What you need to know In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates. Until recently, there was no national regulation for the minimum length of time [...]
Accelerated tax rate reduction for small business Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses. Parliament recently passed legislation to accelerate the corporate tax rate reduction for corporate tax entities that are [...]
