Running a small-medium business is hard work. Most small businesses are facing labour shortages and rising costs. Meanwhile, the legal requirements keep getting more and more complex. For example, the Federal Court could fine a business up to $66,000 for failure to pay unused annual leave. Fine for Unused Annual Leave There was a case…
Even though payroll tax is a state-based tax, all wages paid in Australia form a part of the threshold. Example: The Queensland threshold is $1.3M The Victorian threshold is $700K If you have Queensland wages of $1M and Victorian wages of $350K, you are subject to payroll tax in both jurisdictions What contributes to “Taxable…
The last sitting of the Queensland Parliament before the election was 17 September 2020. During that final session, legislation was passed that now makes it a criminal offence to knowingly underpay staff. (Stand by for some heavy legal argument around the term “knowingly”.) This potentially means jail time for erring employers for up to fourteen…
When it comes to employee super; it’s not what you think. Like us, you probably thought that paying your employee superannuation contributions by BPay on the 28th of the month following the financial quarter-end was meeting both the word and the spirit of the superannuation system. Well, it turns out that we are all wrong,…
This will be compulsory for every employer and the ramifications will be significant. Not least of all, the days of delaying payment of employee superannuation will be effectively finished. We have prepared a simple four-point guide so you will be completely familiar with what needs to be done. 1. When does it apply to you?…