Federal Budget 2018/19: What It Means for Small Business Owners

Anita van Wyk Federal Budget, Tax

By now you have probably read many of the outcomes of the 2018-19 Federal Budget. However, you may still be wondering how exactly these outcomes are going to affect you as a small business owner? Below, we summarise some of the relevant key announcements and provide our own ‘lucent insight’ into what it all means for your business. Personal Income …

Everything You Need To Know About Single Touch Payroll Reporting

Anita van Wyk Payroll

You may already be familiar with the term ‘Single Touch Payroll Reporting’, as the government initiative is expected to be somewhat of a game-changer in the industry. Well if you’re not across it already, the deadline for compliance is fast approaching and it’s time for preparations to get underway. Clients of lucent advisory will not need to take any action …

HR and payroll outsourcing benefits

HR and Payroll Outsourcing Benefits

Anita van Wyk HR Manger, Payroll

Does the thought of managing and paying employees raise your level of anxiety? When we listen to CEO’s, Managing Directors, General Managers, Finance Manager or HR Manager of an organisation, we frequently hear… It’s a mess, we have people on so many different pay rates and varying entitlements….I do not have time to ensure everyone is paid correctly…..there are so …

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How to calculate superannuation

Anita van Wyk Payroll

Superannuation, that pesky ‘s’ word is a much misunderstood Australian phenomenon. To know how to calculate superannuation we must first know the rate employers need to contribute. The current percentage in the 2017/18 financial year is 9.5. That rate will continue to gradually increase up to 12% by 2025. Employees seem to forget that this is very much their money. …

award changes

Changes to casual & part-time entitlements in some awards

Anita van Wyk Awards, Payroll

On 12 December 2017, the Fair Work Commission (FWC) varied certain overtime rates and minimum shift entitlements for casual and part-time employees in several awards. The decision introduces overtime rates for casual employees in many of these awards and changes how part-time hours can be worked in others. These changes apply from the first full pay period on or after …

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3 Things every employer needs to know about Payroll Compliance in Australia

Anita van Wyk Payroll

Whether it’s your first employee or your fiftieth, payroll compliance matters. But navigating payroll laws and following industry best practices can be a challenge. The most important thing for employers to get their head around is, that ‘payroll’ is not just about paying your staff. In-fact under Australian law it covers hiring and firing, salary entitlements, leave entitlements and bonuses …

xmas gift tax

Tax on xmas gifts

Anita van Wyk Tax

If your work Christmas party is offsite but not a minor benefit (that is greater than $300 per person) there is a risk that there may be FBT payable on the benefit provided to employees or their associates. Where FBT is payable, the party expenses are tax deductible and GST credit is claimable. There won’t be any FBT for clients …

responsible drinking

Responsible drinking at work over the Christmas period

Anita van Wyk HR Advice, HR Manger

Just what is an acceptable amount to drink at work? With all the festivities coming up it is perhaps an ideal time to review your policies around consuming alcohol at work or a work related event. Ensure it sets out clear expectations and obligations for employees and clearly states the consequences of non-compliance. It can be challenging for employers to …

2017 xmas closure

Closing your office during the 2017/18 holiday period

Anita van Wyk HR Advice, HR Manger

While the run up to Christmas can be just as intense, Christmas Eve marks the beginning of the summer shutdown. Many offices traditionally close for the week between Christmas and New Year, with others running on just a skeleton staff for the first few weeks of January. Closing in the week between Christmas and New Year’s Day provides the perfect …