employees and workers

Misclassifying a worker as an employee

The implications of misclassifying a worker The implications of misclassifying a worker go well beyond industrial relations. If a business misclassifies an employee, it impacts on superannuation guarantee (SG), PAYG withholding, workers compensation and payroll tax. These entitlements will often need to be met even if the misclassification was a genuine mistake. For SG obligations,…

news

Tax rate reduction

Accelerated tax rate reduction for small business Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses. Parliament recently passed legislation to accelerate the corporate tax rate reduction for corporate tax entities that are…

deductions

Personal income tax

1 July 2018 Personal income tax cuts New personal income tax rates come into effect from 1 July 2018. The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000. Dovetailing into the tax bracket change is the introduction of the Low and Middle Income Tax Offset for those with…