Company directors have a legal responsibility to ensure that their company meets its pay as you go (PAYG) withholding and superannuation guarantee charge (SGC) obligations. The director of a company that fails to meet a PAYG withholding or SGC liability by the due date automatically becomes personally liable for a penalty equal to the unpaid amount. […]
Director Penalty Notices Read More »
According to a recent study by CareerBuilder, in 2013 alone, a whopping 32 per cent of workers called in sick when they were actually feeling fine. In addition, 30 per cent of workers admitted to going to work when they were sick, in order to save their sick leave for when they are feeling well. So it
Employees take the ‘sickie’ to a new level Read More »
From 1 January 2014, employers need to make super contributions to a fund that offers a MySuper product for employees who haven’t selected a preferred fund. A ‘MySuper product’ is a new super account that will replace existing ‘default funds’ used for employees. A MySuper account has a simple set of product features, regardless of who
MySuper replaces your default superannuation fund Read More »
Shutting down your business over Christmas Before you decide to shut down your business, you need to check that there is a term in your award or agreement that allows you to require your employees to take paid annual leave. If your award or agreement doesn’t let you require your employees to take paid leave,
Christmas shutdowns and Christmas parties Read More »
Car fringe benefit contracts entered into after 16 July 2013 can no longer use the Statutory Formula method, and must instead use the Operating Cost method. Thankfully, cars under existing contracts can continue to use the statutory formula for the remainder of the arrangement or until the contract is materially varied or changed. The result
Changes to car fringe benefits July 2013 Read More »
Superannuation Contribution Cap for 2013 – 2014 has been released by the ATO. We recommend that if you are offering salary sacrifice superannuation to your employees, include a disclaimer in your staff handbook that employees have received professional financial advice and understand the tax implications of what they are requesting the Payroll Officer to do.
Superannuation Contributions Cap 2013 – 2014 Read More »