NFP salary packaging allows not-for-profit employees to pay everyday expenses with pre-tax income, providing not-for-profits a way to save on taxes. This reduces taxable income and increases take-home pay. Around 600,000 Australians work in the not-for-profit sector, representing 10% of the workforce. NFP wages typically fall below corporate salaries. But the work delivers rewards beyond…
As an Australian employee, you’ve probably heard the term PAYG mentioned when discussing your pay and taxes. But what does it mean, and how does it affect you? In this article, we’ll break it down for you so you can understand your obligations and entitlements. What is PAYG? PAYG stands for “Pay As You Go”…
When running a small business, it’s important to ensure you’re taking advantage of all the tools and resources available. While your mind might immediately go to software or marketing automations, this also includes finding the right people to help your business grow. A common question we get asked when our clients start building their team…
Single Touch Payroll (STP) is a new and mandatory way of reporting your employees’ income and tax information to the Australian Taxation Office (ATO). It was introduced on 1 July 2018 and replaced the need to manually submit PAYG summaries and other payroll information each financial year. When introducing the Single Touch Payroll reporting regime,…
Single Touch Payroll (STP) is a new method of reporting tax and superannuation information to the ATO. Your payroll or accounting software can potentially offer STP reporting and will result in you sending your employees’ tax and super information to the ATO each time you run payroll and pay your employees. However, how you pay…
What to look out for when hiring your first employee Looking at hiring your first employee? Achieving entrepreneurial success isn’t just about picking anyone for your company. It’s also about making sound decisions and implementing the right strategy in attracting the best prospective employees. The first few stages in the life of your business are…
Understanding Employer Obligations As an employer, it’s imperative to understand that your employer obligations extend further than the monetary compensation owed to your employees. Australia’s extensive legislation revolved around employer obligations, and employee rights remains a treacherous area for many inexperienced business owners to navigate. Below, we explore the obvious and not so apparent obligations…
If you are someone who works in the construction or building industry then you may be entitled to construction industry long service leave. What is Long Service Leave? Long service leave refers to an extended period of leave awarded to employees who have been employed by the one employer for usually ten (10) years. This…
If you have stumbled upon this article, then chances are you want to learn how to pay super as an employer to your employees. What is superannuation? To understand how to pay super as an employer, you must first know what Superannuation is. Superannuation is a contribution made by the employer on behalf of the…
Modern awards (also known as industry awards) are a vital type of legal document that must be understood concerning having your employees. This is essentially a legal document that sets out minimum employment conditions in addition to the National Employment Standards (NES). As an employer, you must have a comprehensive understanding of which award covers…
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