Posted in Employees

  You don’t need a pay rise to increase your income.  Salary Packaging is an entitlement granted by the Federal Government to all workers that allows you to take part of your income as a tax-free benefit. Salary packaging works by having a portion of your pre-tax salary deducted to pay for certain expenses. Income tax will then only apply to the amount of your salary that remains after these deductions have been applied. Salary packaging is limited for ...

If you or your employer paid concessional (before tax) contributions to a complying superannuation fund you may be eligible for the low income superannuation contribution (LISC). The LISC is a government payment designed to help offset the tax paid by superfunds for low income individuals. The LISC is 15% of the concessional contributions paid into your super fund during the financial year. The maximum payment that you can receive is $500. Are you eligible? To be eligib...

  Did you know that you are required by law to give your employees their payslip within one day of their pay day, either in hard copy or electronically? Not providing your employees their payslips in a timely and correct manner can lead to serious consequences under the Fair Work legislation. So… what should be included on the payslips? The name of the employer The employer’s ABN The employees’ name Date of payment The pa...