FBT 2021: Tax & employee benefits Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed. A fringe benefit is a ‘payment’ to an employee or an associate (an [...]
COVID-19 vaccinations and the workplace The first COVID-19 vaccination in Australia rolled out on 21 February 2021 preceded by a wave of protests. With the rollout, comes a thorny question for employers about individual rights, workplace health and safety, and vaccination enforcement. The rollout, managed in phases, is expected to complete by the end of [...]
The Stimulus Package: What You Need To Know The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four-part package focuses on business investment, sustaining employers and driving cash into the economy. For business Business investment Increase and [...]
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 [...]
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 [...]
Reminder on cents per km car expenses rate The cents per kilometre car expense rate increased from 66 cents to 68 cents per kilometre from 1 July 2018. Employers who use the cents per kilometre rate to pay car allowances for employees should ensure that car allowance rates are up to date. If more than [...]
New domestic violence leave entitlements come into force A Fair Work Commission decision created a new entitlement for most Australian employees; unpaid family and domestic violence leave. The Fair Work decision provides five days’ unpaid leave per annum to all employees (including casuals) experiencing family and domestic violence. The leave will also be available in [...]
Got a HELP debt? The impending changes to speed up your repayments The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt. New lifetime caps on Higher Education Loan Program (HELP) debt will prevent people [...]
Clothing deductions hung out to dry The Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns. The ATO says that clothing claims are up nearly 20% over the last five years with people either making mistakes or deliberately over-claiming. Common mistakes include people claiming ineligible [...]
One-off Super Guarantee Amnesty Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self-correct” under a new amnesty announced late last month. The ATO estimates that $2.85 billion is currently owed in late or missing SG payments. Running from 24 May 2018 for 12 months, the amnesty encourages [...]
