Step 1: Determine eligibility Eligible employers Employers are eligible for the JobKeeper payment if all of the following apply: On 1 March 2020, you carried on a business in Australia or were a not-for-profit organisation that pursued your objectives principally in Australia. You employed at least one eligible employee on 1 March 2020. Your eligible employees are […]
UPDATED: Proposed economic responses: how does it affect you?
Up to date as at 23/03/2020. FEDERAL[1] 1. Instant Asset Write Off threshold (from 12/03/2020 to 30/06/2020) The threshold will increase from $30,000 to $150,000 This will apply to businesses with aggregated annual turnover of less than $500 million, up from $50 million. How does it work? You may be able to claim the cost […]
Proposed economic responses: how does it affect you?
Proposed economic government responses: how does it affect you? We understand that these are tumultuous times for everyone, particularly businesses; we feel it too. We’ve noticed there’s a lot of information circling, a fair bit of misinformation as well. With that in mind, we’ve prepared a summary of points we believe people would benefit from […]
Technology v Expertise: who’s the winner?
Technology v Expertise: who’s the winner? Software developers have reinforced the message that by systemising certain functions they can be left to set and forget. However, there is a danger in relying too much on technology, especially in relation to payroll. While everyone may not have a business the size of Woolworths or Wesfarmers where […]
Get ready for Single Touch Payroll
Get ready for Single Touch Payroll! Single Touch Payroll (STP) reporting is available through payroll, accounting and business management software. Most software providers are offering STP-enabled products for Employers. What is it? STP automatically sends tax and super information from your payroll or accounting software to the ATO as you run your payroll. Once STP […]
