The JobKeeper Payment Legislation
JobKeeper Payment Bills passed but no detail yet JobKeeper Payment details still not available We would like to take this opportunity to update you on the JobKeeper Payment Scheme. Bills passed but no detail yet Yesterday, the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 was introduced and passed both Houses of Parliament. Unfortunately, […]
Coronavirus Jobkeeper Payment
Federal Government offers $130b in coronavirus wage subsidies for businesses to pay workers The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) […]
Car parking fringe benefits
Valuing car parking fringe benefits Where businesses provide car parking fringe benefits to their employees, the taxable value of these benefits must be calculated correctly to ensure they are meeting their fringe benefits tax (FBT) obligations, regardless of the method used. The ATO has advised they may directly contact businesses who have engaged an arm’s […]
PAYG and deductions for payments to workers
PAYG withholding obligations The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019. If the PAYG withholding rules require an amount to be withheld, to claim a deduction for most payments to a worker, a […]
Omnis Group gives a hand with hampers for homelessness
Can your generosity help make a difference to homeless and vulnerable people this Christmas? St Patrick’s Community Support Hampers Omnis Group in Perth have just increased our giving in time for Christmas by delivering 30 hampers to St Patrick’s Community Support in Fremantle. St Patrick’s Community Support Centre is Fremantle’s key organisation for homeless and […]
Company or trust home-based business deductions
Deductions for a company or trust home-based business The ATO reminds taxpayers that, if they run their home-based business as a company or trust, their business should have a genuine, market-rate rental contract (or similar agreement) with the owner of the property. The agreement will determine which expenses the business pays for and can claim […]
Uber drivers not employees
Relationship between Uber Australia and drivers not an employment relationship The Fair Work Ombudsman has completed its investigation relating to Uber Australia Pty Ltd and its engagement of drivers, concluding that the relationship between Uber Australia and the drivers is not an employment relationship. The investigation found that Uber drivers are not subject to any […]
Cash in hand payments no longer deductible
‘Cash in hand’ payments to workers no longer tax deductible The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible. ‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go (‘PAYG’) withholding obligations. Payments […]
Payroll update
Single Touch Payroll Update Employers with 19 or fewer employees are required to start reporting through Single Touch Payroll (‘STP’) from 1 July 2019. The ATO will be working with employers to support them as they transition to STP, including allowing small employers to start reporting any time from 1 July to 30 September (and […]
Six FBT issues
FBT issues on the ATO’s radar The ATO has updated their What attracts our attention list with six items that specifically relate to fringe benefits tax (‘FBT’), as follows: Failing to report motor vehicle fringe benefits, incorrectly applying exemptions for vehicles or incorrectly claiming reductions for these benefits. Incorrectly calculating car parking fringe benefits due to: […]
