12 common myths – Employee or contractor?

There are several myths and assumptions by both workers and employers when it comes to trying to decide whether or not someone is a contractor or an employee. Here are 12 common myths that often get both businesses and workers into hot water. Having an Australian business number (ABN) Myth: If a worker has an ABN they are a contractor. Fact: Just because a worker has an ABN does...

It’s Fringe Benefits Tax time

FBT — your business basics If you own a business that employs staff, and provide remuneration to your employees in a form other than straight salary, you may be up for fringe benefits tax (FBT). The upside for your workers is that they do not then have to pay income tax on the value of the benefits provided to them. FBT is separate to income tax.  The FBT regime...

SuperStream is here. 5 steps to ensure you’re ready.

The government wants to improve the superannuation system and bring it into the modern electronic world through the introduction of SuperStream, and this includes for SMSFs. Under the new system, employers must interact electronically using approved software. Employers with 20 or more employees should have already started using SuperStream from July 1 last year, but smaller employers (those with 19 or fewer employees) have until July 1, 2015 to...