As an employer, you have an obligation to contribute superannuation on behalf of your employees, but do you know what penalties are imposed, should you fail to make contributions? Failure to make payment of employee superannuation contributions can result in detrimental consequences, enforced by the Australian Tax Office (ATO). If super contributions are not paid or paid late, employers are required...
Today's job market is very competitive, and businesses are continuously looking for, and adopting, ways to gain competitive advantage in attracting valuable new talent or retaining and motivating their current employees. A frequently used method is by offering Fringe Benefits. What are Fringe Benefits? Fringe Benefits are provided in addition to employee wages, forming a total remuneration package, and can be...
In the last week, we have experienced unending downfalls resulting in severe flooding and the declaration of a natural disaster and state of emergency for parts of NSW. This devastating event has affected the lives of millions of people but there is now relief available. Yesterday, the Morrison government announced an immediate relief package of $1,000 per adult and $400...
Australia's largest labor market intervention measure as a response to the COVID-19 pandemic, Jobkeeper, is coming to an end after a lifesaving 12 months. With the end in sight, experts estimate 100,000 jobs will be lost, thousands of businesses will be placed into administration and approximately 1 million employees will still be heavily reliant on the scheme. So, preparing your...
You may have heard about the program known as Modernising Business Registers (MBR) that was originally announced in 2019 by the Australian Government. If you have had to use the Australian Business Register (ABR) or Australian Securities and Investments Commission (ASIC) portal, you will have found them to be very outdated and difficult to navigate. The proposed MBR Program aims...
