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COVID-19 JobKeeper Payment update

The JobKeeper Payment, at $130B, is the single biggest economic support measure in Australia’s history. The more we hear and read, the more confident we are that this measure has definitely hit the mark and will be the saviour for many businesses and thousands of jobs.

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COVID-19 JobKeeper Payments

The third and largest COVID-19 (coronavirus) support package to date is a $130 billion economic injection designed to save jobs for the next 6 months. In this package, businesses may be entitled to receive a fortnightly wage subsidy of $1,500 per employee.

The so-called JobKeeper Payment is designed to keep people in work and the Government expects up to 6 million people will benefit from the subsidy.

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Fringe benefits tax (FBT) changes for the 2019 FBT year

Fringe benefits tax (FBT) is a tax paid by employers on specific benefits provided to employees (and their families). Benefits commonly provided to employees include company vehicles, car parking, low interest loans, and living-away-from-home allowances. FBT places the tax burden on the employer rather than the employee, which can be an attractive arrangement for many workers.

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Claiming GST credits for employee reimbursements

Did you know that employers registered for GST can claim GST credits for reimbursements made to employees?

Here’s a quick run-down on what qualifies, what doesn’t, and how to claim.

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STP reporting compulsory for all Australian employers

The extension of Single Touch Payroll (STP) requirements to employers with 19 or less employees has finally passed both houses of Parliament. From 1 July 2019, STP reporting will become compulsory for all Australian employers.

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Compulsory Single Touch Payroll (STP) reporting rolls out to small employers

Months of uncertainty for small businesses ended yesterday with the Senate passing the Bill to now extend compulsory Single Touch Payroll (STP) reporting to employers with 19 or less employees. Effective from 1 July 2019, it comes on the back of STP rolling out to larger employers from 1 July 2018.

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5 tips to avoid FBT on your staff Christmas gifts and work party

Christmas will be here in a moment and many employers will be thinking about recognising their team’s efforts throughout the year. Have you thought about how to manage tax and Christmas gift giving?

Feel free to celebrate, but make sure you don’t get stung with unexpected taxes. Fringe benefit tax (FBT) and associated income tax and GST pitfalls are the big ones to watch out for.

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Employee or contractor? 12 common myths

Do you know whether your worker is legally an employee or a contractor?

There are plenty of myths and assumptions made when it comes to deciding the status of a worker. Many employers (and workers) rely on inaccurate indicators of what makes a worker an employee or contractor. However, the employee-or-contractor status is important to get right.

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Are you ready for Single Touch Payroll?

Single Touch Payroll (STP) changes the way employers report payroll information to the Australian Taxation Office (ATO), and it is mandatory from 1 July 2018 for employers with 20 or more employees.

So … you might be wondering: ‘What is Single Touch Payroll?’; ‘How do I get ready?’. And they are great questions!

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Employers: understanding the tax system

Navigating the tax system to ensure you are meeting all your obligations as an employer can get confusing. In this article we look at some common areas of concern for business owners and provide some handy tools and tips.

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