Y Partners Blog

TaxWise Business News November

  1. Disclosure of business tax debts
  2. Are you holding vacant land?
  3. The end of $10,000 + cash transactions? 
  4. 7 tips to stay smart online and avoid cybercrime Read more…

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…