JobMaker Year 2
Adjusting baseline headcount If you have been claiming the JobMaker Hiring Credit, please be aware that the ATO will now calculate an adjusted baseline headcount for the claim. The ATO will amend the prefill in the claim form based on information provided in earlier claims. The ATO does this each period by calculating the greatest […]
Payroll matters February 2022
Higher PAYG withholding rates continue to apply to backpackers As we recently communicated, the High Court has held that the ‘working holiday maker tax’ (also known as the ‘backpackers tax’) did not apply to a taxpayer on a working holiday visa from The United Kingdom who was also an Australian tax resident. This was due […]
ABN ‘intent to cancel’ program
The ATO is cracking down on inactive ABNs The ATO is reviewing Australian business numbers (‘ABNs’) to identify potentially inactive ABNs for cancellation It has introduced a new automated process to allow taxpayers (or their tax agents) to confirm if their ABN is still required via a secure voice response system. An ABN may be […]
Super is now following new employees
New super rules from 1 November 2021 The ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the choice of super fund rules. If a new employee does not choose a super fund, most employers will need to request the employee’s […]
Paid Parental Leave changes support parents in lockdown
Paid Parental Leave changes The Paid Parental Leave (‘PPL’) scheme has been amended to enable expectant parents whose work has been affected by COVID-19 lockdowns to access Parental Leave Pay or Dad and Partner Pay under the scheme. Many people who would otherwise have qualified for PPL, may no longer meet the ‘work test’ condition […]
ATO support for employers with expansion of STP
STP Phase 2 As part of the expansion of Single Touch Payroll (known as STP Phase 2), from 1 January 2022, employers will need to report additional payroll information in their STP reports including: disaggregation of gross amounts (including separate reporting of paid leave, allowances, overtime, directors’ fees and salary sacrifice amounts); employment and taxation […]
SG obligations for September 2021 quarter
Reminder of SG obligations for September 2021 quarter Under the Superannuation Guarantee (‘SG’) scheme, employers are required to make quarterly contributions on behalf of their employees. From 1 July 2021, the minimum contribution required is 10% (up from 9.5%) of an employee’s Ordinary Time Earnings base, up to a maximum quarterly contribution base of $58,920 […]
Extra super step when hiring new employees
Stapled super funds Employers may soon need to do something extra when a new employee starts to work for them. Currently, if a new employee does not choose their own fund, their employer can pay contributions for them to a default fund. From 1 November 2021, if a new employee does not choose a specific […]
Export Market Development Grant
From 1 July 2021, the Export Market Development Grant underwent some major changes This grant is available to any Australian exporter operating in any type of business entity – Sole Traders, Partnerships, Trusts or Companies. Over 4,000 Australian businesses participate in this grant program each year and may be particularly relevant for business exporters or […]
SME Recovery Loan Scheme
Expansion of support for SMEs to access funding The Government is providing additional support to small and medium-sized businesses (SMEs) by expanding eligibility for the SME Recovery Loan Scheme. Specifically, in recognition of the continued economic impacts of COVID‑19, the Government will remove requirements for SMEs to have received JobKeeper during the March quarter of […]
