Cashing Out of Annual Leave

March 17, 2017 by AbacusSolutions — No Comment

Following recent decisions of the Fair Work Commission, most modern awards now allow employees to cash out annual leave in certain circumstances : Both the employer and employee agree in writing to the cashing out The agreement to cash out annual leave must not result in the employee’s remaining paid annual leave balance being less […]

Backpacker Tax – Have you registered ?

March 7, 2017 by Isabelle Orr — No Comment

If you employ working holiday makers in Australia on a Visa Subclass 417 or 462, you would need to make some changes to their employment record for the new backpacker tax, applicable from 1 January 2017. From 1 January 2017, the working holiday maker tax rate of 15% applies from the first dollar earned, up to $37,000 […]

Tax Changes which affect your business

June 7, 2016 by Isabelle Orr — No Comment

Here is a brief summary of the May 2016 Federal Budget which impacts on small business from 1/7/2016: The small business income tax offset will increase from the current 5% to 8%. It benefits sole traders. The company tax rate will reduce from 28.5% (for 2015/16 financial year with turnover less than $2M) to 27.5% […]

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