Last week, the ATO released some new indexed figures that will commence in the 2025/26 financial year. The relevant changes are as follows: Lump Sum D Threshold The Lump Sum D threshold will increase to $13,100 + $6,552 for each completed year of service from 1 July 2025. ETP thresholds The life benefit termination payment ETP cap … Read more

The ATO has released new HECS-HELP tax tables that apply from 1 July 2023. There are no changes to the normal PAYG tax tables for the 2023–24 income year. The only change is to study and training support loans. Study and Training Support Loan changes to apply from 1 July 2023: With the annual indexing of … Read more

From 1 September 2022, there will be new annualised salary arrangement rules in the Hospitality Industry (General) Award 2020 and Restaurant Industry Award 2020. The new rules will replace the previous provisions found in these awards. Under these annual wage arrangement provisions, an employer needs to pay their employee at least 25% higher than the … Read more

This is not an easy topic due to the interaction of different laws. It is important to note that when making a decision about which rule applies in a given situation concerning an employee, the legislation will always over-ride the award, enterprise agreement or employment contract where the legislation is more beneficial to the employee, … Read more

Occasionally, an employee can decrease the amount of tax withheld from their salary. The employee must apply and obtain an approved withholding variation from the ATO in order to have their tax decreased in payroll. This is also known as a ‘downward variation’. What process must the employee follow to vary their PAYG? In order … Read more