Y Partners Blog

Do I Have to Pay Super?

Generally, if you pay an employee $450 or more (before tax) in a calendar month, you have to pay them super on top of their wages. 

If your employee is under 18 or is a private or domestic worker, eg a nanny, they must also work for more than 30 hours per week to qualify.  Read more…

Get your PAYG Withholding Obligations Right

All businesses, including not-for-profits, are now required to meet their PAYG withholding obligations before they can claim deductions for payments to workers – for example, salary, wages, bonuses, directors' fees and payments under a labour hire agreement. 

Payments to contractors where the contractor does not provide their ABN are also covered by these new rules.  Read more…

5 Tax Tips for Individuals

 A few common areas that can trip individuals up when they are preparing their tax returns are:
  1. including all assessable income;
  2. ensuring expenses claimed are deductible;
  3. determining whether superannuation contributions are deductible;
  4. determining Australian tax residency status; and
  5. keeping the right records to support your claims.

Read more…