News

For the 2013/14 income tax year there are no changes to the income tax rates or thresholds, therefore most tax tables currently used by employers can continue to be used for the next financial year. However, there will be changes to tax tables for 2013/14 where employers have employees that: have a Higher education loan … Read more

Tax-free Threshold for Redundancy Payments From 1 July 2013, the tax-free threshold for redundancy payments is as follows: $ 9,246 (formerly $8,806 for 2012-2013); plus $ 4,624 (formerly $4,404 for 2012-2013) for each completed year of service Employment Termination Payment (ETP) Cap For 2013-2014, the ETP cap amount is $180,000 (formerly $175,000 for 2012-2013). Whole-of-income … Read more

Q/ Can employees salary sacrifice their cashed in leave? A/ This is quite complicated – and the practical answer is “possibly not” This is a 2 step process Step 1 – cashing in leave For most employees, cashing in annual leave is only allowed in very limited circumstances: Where the employee is covered by an … Read more

Q/ Our General manger has asked why we should accrue LSL on-costs from day one? If you have any supporting documentation/website link that you can forward me, it would be a real help. A/ While companies usually do not have to make LSL payments for their employees until after 5, 7 or 10 years (depending … Read more

Q/ An employee has requested copies of their payslips. How far back in time can an employee request an employer to provide copies? A/ An employer is required to keep payroll records for seven years, so it would not be “unreasonable” for an employee too request copies going back that far. However if an employer … Read more

With Easter just around the corner, it is important for all to know their obligations when it comes to public holidays. http://www.fairwork.gov.au/leave/public-holidays/pages/default.aspx