Hawkesbury Bookkeeping

Affordable Bookkeeping Solutions for your Small Business

Employee Entitlements

Assistance for your Business as a result of COVID-19

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The following resources have been provided by Federal and NSW State Governments in relation to the Coronavirus outbreak in Australia.

Australian Government

Australian Taxation Office

Fair Work

Coronavirus and Australian workplace laws

Business.gov.au

Coronavirus information and support for business

The Treasury

Economic Response to the Coronavirus

Department of Health

Coronavirus (COVID-19) health alert

NSW Government

Fair Trading NSW

Coronavirus (COVID-19) FAQs on consumer and business rights

SafeWork NSW

Coronavirus (COVID-19): Advice and guidance for NSW workplaces

NSW Health

COVID-19 – Frequently asked questions

SG Amnesty – a chance to set things right

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If you haven’t paid the right amount of super guarantee (SG) to your workers, the SG amnesty is the time to come forward. If you disclose your SG shortfalls during the amnesty, you can rectify past unpaid SG without incurring charges or penalties.

The SG amnesty runs until 6 September 2020 however, given this is a Sunday, applications are accepted until 11.59pm on Monday 7 September 2020.

SG shortfalls for any quarter between 1 July 1992 and 31 March 2018 may be eligible if you have not been told we are examining your SG obligation for the period your disclosure relates to.

If you disclose your SG shortfalls and are found eligible:

  • you must pay the SG shortfall plus interest
  • any payments you make before 11.59pm on Monday 7 September 2020 in your local time are tax deductible, including payments through a payment plan.

However, you must pay your SG shortfalls (or payment instalments) to remain eligible. If you default on your payment plan, you will no longer be eligible for the amnesty.

It’s important you act on this opportunity now to get your obligations up to date. If you’re aware of any unpaid SG for the periods covered under the amnesty and choose not to come forward, the consequences will be significant. Penalties include:

  • up to 200% penalty on top of the SG and interest you owe (minimum 100% penalty)
  • administration charges ($20 per employee per quarter).

If you’ve been impacted by recent bushfires, we understand that your priority is on your family and community at this time. However, the law doesn’t allow us to vary the due date for lodgment of an SG amnesty application.

Please view other resources:

ATO: Superannuation guarantee amnesty

If you need assistance in lodging SG shortfalls, please Contact Us or Book a Chat.

Information provided by ATO Small Business Newsroom

Christmas Parties and FBT

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‘Tis the season to be jolly! But ho-ho-hold up before you start making spirits bright and rewarding your employees with gifts or parties this Christmas, as fringe benefits tax may apply when providing all the trimmings.

So you don’t get your tinsel in a tangle for your work Christmas party, consider:

  • how much it costs
  • where and when it is held – a party held on work premises on a normal work day is treated differently to an event outside of work
  • who is invited – is it just employees or are partners, clients or suppliers also invited?

Similarly, where you provide Christmas gifts, you’ll need to consider:

  • the amount you spend
  • the type of gift – gifts such as wine or hampers are treated differently to gifts like tickets to a movie or sporting event
  • who you are giving the gift to – there are different rules for employees and clients/suppliers.

Find out more about Fringe Benefits Tax and Christmas Parties

Find out more about Fringe Benefits Tax and Entertainment for small business

Information provided by the ATO Small Business Newsroom

HeadsUp for R U OK?

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As a small business owner there is much to enjoy about being your own boss such as the freedom to make the decisions and the autonomy to run the business your way. Following your passion can help you to feel good and be productive and can also contribute positively to your mental health.

But anyone who has run a small business knows that there are also a range of stressors or challenges too. Putting in long hours, feeling isolated, worrying about cash-flow and all that decision making can come with a sense of great responsibility. On top of that, there can be external factors outside your control that influence your business or the demands on your time too.

Today is R U OK Day and a good day to assess how mentally healthy your workplace is.

The mental wellbeing of people at work is good for everyone and enhances personal and organisational resilience, and success. Everyone has a role to play both in looking after their own mental health and creating a mentally healthy workplace.

The headsup.org.au website has some fantastic resources to help small businesses, business owners and their employees in achieving a mentally healthy workplace.

Download some of their resources:

If you think that someone may be struggling, start an R U OK? conversation by using these four steps:

  1. Ask R U OK?
  2. Listen
  3. Encourage Action
  4. Check in

Visit ruok.org.au for more information on learning the signs and finding help.

Want to know more about Superannuation Guarantee?

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Are you confused about Superannuation Guarantee or want to make sure you are getting it right for your employees?

The ATO website has loads of information plus the products and tools to help you understand what you need to do for super as an employer.

They have recently published a free online course on Super Guarantee Employer Obligations. It is designed to help employers understand their obligations to pay super for eligible employees.

The course is free and is available on the ATO website. The course takes around 2 hours to complete and will result in the following learning outcomes. You will understand:

  • the importance of paying super guarantee
  • the circumstances in which it is payable
  • the steps to setting up super for your employees
  • how to calculate super guarantee
  • how to lodge and pay super guarantee
  • what to do when a super guarantee payment is late or missing
  • your record-keeping requirements.

Click here to access the free ATO web course.

You can also find out more about Super for Employers by clicking here.