latest news from the bespoke payroll team
There are several reasons why an Australian business might consider outsourcing their payroll functions Ultimately, the decision to outsource payroll should be based on the unique needs and circumstances of each business. It’s essential to assess the costs, benefits, and potential risks involved before making a […]
In big news for casual/part-time workers, The Australian Federal Government has announced it will remove the $450 monthly earnings threshold. Employees will now be eligible for the Superannuation Guarantee of 10% of their relevant wages, regardless of their earnings. From 1 July 2022, employers will be required to […]
For those who know just how demanding it can be dealing with multiple government agencies and their online portals, the Single Touch Payroll (STP) reporting platform has been earmarked for an expansion that will streamline reporting requirements. The aim is to alleviate some of the burden […]
Off the back of the ‘employment retention’ success that has been the JobKeeper scheme, the Australian Government has continued it’s focus and momentum in ensuring businesses are engaging as many Australians as possible. The JobMaker Hiring Credit scheme is set to reward businesses that hire new […]
Keeping your business up to date The ATO has implemented further changes to the JobKeeper employee eligibility rules. This adjustment to the criteria now means employers may be able to receive the JobKeeper payment for more of their employees. The new date for assessing employee eligibility […]
What it means for your business Latest figures from the government show 960,000 employers having met the eligibility requirements for the initial JobKeeper scheme. This then filters through to around 3.5 million workers. The JobKeeper V2 ‘extension’ is estimated to cost taxpayers $16.6 billion, with the […]
What is the Superannuation Guarantee (SG)? A compulsory amount that an employer must pay into any eligible employee’s chosen super fund. The guarantee has remained stagnant at 9.5% since July 1st 2014, despite CPI increases year on year. This rate is due to increase to 10% […]
What is award interpretation & the National Employment Standards (NES)? Modern awards are set by Fair Work and provide pay rates and conditions of employment such as leave, overtime and shift work entitlements. It sets out the minimum terms relevant to a role, on top of […]
STP – What it means for you From the 1st July 2019, employers must report all payroll information such as salaries and wages, pay as you go (PAYG) withholding and super to the ATO through STP-enabled software each time you pay an employee. Super funds will […]
