September 2015

Many exceptional companies have bonus plans to reward employees. Why would you consider a bonus plan? Advantages include: Staff retention, attraction and motivation. Added incentives to complete jobs on time and achieve agreed milestones. Assists cash flow in the company by minimising annual salary increases.

Why Consider the Contractor issue now? The contractor issue is not at all new, nor has it been subject to any dramatic recent change.  However there are a number of diverse factors that have brought this issue back to the spotlight. Growth in the number of Contractors: The attractions of contractors are many: a substantial

The Government released their Mid-Year Economic and Fiscal Outlook (“MYEFO”) report and announced the following key changes: Corporate PAYG Tax Instalments Companies with a turnover in excess of $20 million per annum will be required to make PAYG Income Tax instalments on a monthly basis. In-House Fringe Benefits Under the current legislation, the taxable value

The new legislation containing changes to the current Living Away From Home Allowances (“LAFHA”) regime was recently passed. For employers with LAFHA arrangements entered into after 8 May 2012, the new rules will apply from 1 October 2012. The new rules require the following from the employers and/or employees:

The ATO has started offering refunds to some individuals who have exceeded their annual superannuation concessional contributions cap. From the 2011-2012 year, there is a once-only opportunity to have excess concessional contributions refunded.