No SG obligation on JobKeeper payments where work is not performed
Regulations confirm no SG obligation on JobKeeper payments where work is not performed The federal government has registered the Superannuation Guarantee (Administration) Amendment (JobKeeper) Payment Regulations 2020. These regulations ensure that amounts of salary or wages that do not relate to the performance of work and are only paid to an employee to satisfy the […]
1.75% increase to minimum wages
The Fair Work Commission has announced a 1.75% increase to minimum wages This will apply to all award wages. Increases to awards will start on 3 different dates for different groups of awards. See When will my award increase for information on when the awards will increase. Most employees are covered by an award. If you’re not […]
Guidance on JobKeeper reporting via STP
The ATO has issued guidance to help employers reporting eligible employees and JobKeeper top-up payments through Single Touch Payroll (STP). For each eligible employee, employers must notify the ATO: when an eligible employee started being paid JobKeeper payments; top-up payments to employees earning less than $1500 per fortnight; and when an employee is no longer […]
ATO reminder for employers – Finalise STP data for 2020
Single Touch Payroll 2020 data The ATO has issued a reminder to employers who report through Single Touch Payroll (STP) – which should be all employers, unless an exemption or deferral applies – that they will need to finalise payroll information for the 2020 income year by making a declaration. The due date for making […]
Shortcut method to claim deductions if working from home
As the situation around COVID-19 continues to develop, the ATO understands many employees are now working from home To make it easier when claiming a deduction for additional running costs you incur as a result of working from home, special arrangements have been announced. A simplified method has been introduced that allows you to claim […]
COVID-19 Government’s JobKeeper Payment
A major part of the Government’s response to the COVID-19 pandemic is the JobKeeper payment scheme The JobKeeper Payment is a wage subsidy that will be paid through the tax system and administered by the ATO to eligible businesses impacted by COVID-19. Under the scheme, eligible businesses receive a payment of $1,500 per fortnight per […]
Extension of time to enrol for the JobKeeper scheme
JobKeeper Payment The Tax Commissioner has extended the time to enrol for the initial JobKeeper periods, from 30 April 2020 until 31 May 2020. If you enrol by 31 May you will still be able to claim for the fortnights in April and May, provided you meet all the eligibility requirements for each of those fortnights. This includes […]
Deductibility of work-related expenses
Employer’s requirements and the deductibility of WREs Some employees may wonder whether a work-related expense (WRE) becomes deductible merely because their employer specifically requires the employee to incur the expense. Importantly, the ATO’s recent draft ruling on the deductibility of work-related expenses reiterates that an employer’s requirements do not determine the question of deductibility. Specifically, […]
Company directors personally liable for GST
New laws can make directors personally liable for GST The government recently passed new legislation designed to strengthen laws to “crack down on illegal phoenixing activity by dodgy business operators who try to avoid their obligations to their customers, employees and creditors.” In particular, the changes allow the ATO to collect estimates of anticipated GST […]
JobKeeper payment subsidy open today
JobKeeper: Your business may be eligible for a maximum of $19,500 per eligible employee During the week commencing today (Monday 20 April 2020), one of our team will be in contact with all business clients to discuss your possible eligibility for the JobKeeper payment. We are already working with a number of clients to complete this […]
