2019/20 Seminar Topics

Taxation & Payroll Seminar

  1. THE PAY AS YOU GO (PAYG) WITHHOLDING SYSTEM
    1. Employee commencement
      1. Registering for PAYG Withholding
      2. Employee or Contractor?
    2. 1.2 Tax File Number (TFN) Declaration
      1. Who should complete a TFN declaration?
      2. Section A
      3. Section B
      4. Obtaining and submitting a TFN Declaration
    3. The Withholding Declaration (NAT 3093)
      1. When is an employee required to complete a Withholding Declaration
    4. Applying to the ATO to reduce tax withholding
      1. Types of PAYG withholding variation forms
    5. Paying Salary and Wages
      1. At which time is salary and wage income taxable?
    6. 1.6 General Rates of Income Tax (Incorporating Medicare Levy)
      1. Tax rates and thresholds – Australian resident for tax purposes
      2. Medicare Levy
    7. Foreign Employees/Non-residents
      1. Penalties for employing an illegal worker
      2. Tax rates for foreign employees working in Australia
      3. Treatment of Expats – Inbound and Outbound
      4. Reporting foreign employment income for Single Touch Payroll
    8. Issues for specific employees
      1. Study and training loan repayment thresholds and rates 2019/20
      2. Short Term or Seasonal Workers
      3. Performing Artists
      4. Actors, Variety Artists and other Entertainers
      5. Volunteers and Respite Workers Paid by Non-profit Organisations
    9. Tax Treatment of Specific Payments
      1. Additional withholding when financial year contains extra pay day
      2. Taxing Annual Leave & Long Service Leave (for continuing employment)
      3. Taxing Bonuses, Commissions & Back Payments (Marginal Rate Calculation)
      4. Grossing up a net amount
      5. Making Adjustments for Repayment of Overpaid Amounts
      6. Withholding Tax from Allowances
      7. Treatment of reimbursements
      8. Treatment of Workplace Giving amounts
      9. Honorariums
      10. Taxation of Return to Work Payments
      11. The Paid Parental Leave (PPL) Scheme
      12. Treatment of Child Support Deductions
      13. Treatment of pay with purchased leave
    10. Treatment of payments made under a Labour Hire arrangement
      1. Withholding under a Labour Hire arrangement:
    11. Treatment of payments made under a Voluntary Agreement
      1. Establishing a Voluntary Agreement
      2. Rates of withholding under a Voluntary Agreement
      3. GST Implications of a Voluntary Agreement
    12. Treatment of payments made to a supplier who does not quote an ABN
      1. Rate of withholding where no ABN is quoted
      2. Statement by supplier
    13. Treatment of payments made for a Non-Cash Benefit (that are not FBT items)
    14. Which withholding takes priority?
  2. SINGLE TOUCH PAYROLL (STP) & OTHER REPORTING REQUIREMENTS
    1. Interacting with the ATO online
      1. Interaction using an Auskey
      2. Alternative to Auskey – Manage ABN Connections – suitable for smart devices
      3. The ATO’s Business Portal
      4. Standard Business Reporting (SBR)
      5. Individuals and sole traders use myGov to lodge Activity Statements online
    2. Single touch payroll (STP) reporting
      1. Measures for small business
      2. How does STP work?
      3. How payments are reported
      4. Where to find information on payroll reported using STP
      5. STP Finalisation
      6. Deferrals / Exemptions
      7. Transitional deferrals
      8. Other types of deferrals
      9. Exemptions for the 2019/20 financial year
      10. Other issues for STP
      11. Income Statements
      12. Items on the Income Statement
    3. Payment Summaries
      1. STP negates the requirement to issue payments summaries in most cases
      2. The Business and Personal Services Income Payment Summary
      3. The Withholding where ABN not Quoted Payment Summary
    4. Reporting PAYG Withholding on the BAS/IAS
      1. Small and Medium Withholders
      2. Large Withholders
      3. Transferring amounts to the PAYG withheld section on the BAS/IAS
      4. Penalties for Late Lodgement, Late Payment and Non-payment
    5. Taxable Payments Reporting System
      1. Affected Industries
      2. How does it work
      3. Who Needs to Report?
      4. Businesses not required to lodge
      5. Payments that need to be reported
      6. Payments that are not reportable
      7. Keeping records
      8. The Taxable Payments Annual Report
      9. Specific information for businesses in the Building and Construction Industry
      10. Specific information for businesses in the Courier Industry
      11. Specific information for businesses in the Cleaning Industry Entities that provide leaning services are required to report to the ATO details of transactions that involve engaging other entities to undertake cleaning services for them. Reporting is required for cleaning services where the total amount an entity receives for cleaning services is 10% or more of the entity’s GST turnover.
      12. Specific information for businesses in the Road Freight Industry
      13. Specific information for businesses in the IT (Information Technology) Industry
      14. Specific information for businesses in the Security, Investigation and Surveillance (SIS) services
    6. Taxable Payments for Reporting of Government Grants & Payments
      1. Grants
      2. Other payments for services
      3. What information will be reported
    7. 2.7 Workplace Gender Equality Reporting
      1. Relevant employers
      2. Reporting
    8. Notifiable Breaches Scheme – Office of the Australian Information Commissioner
    9. Treatment of Employee Share Schemes (ESS)
      1. Reporting to employees – ESS Statement
      2. ESS in a Start-up Company from 1 July 2015
      3. Reporting to the ATO – ESS Annual Report
      4. Employee Share Schemes Calculator
      5. Types of schemes
      6. Tax-deferred schemes taxing point
    10. Labour Hire – Reporting and licensing requirements
      1. National Labour Hire Registration Scheme and other measures
      2. Labour Hire firms in Queensland must be licensed
  3. THE NATIONAL INDUSTRIAL RELATIONS SYSTEM (FAIR WORK)
    1. Coverage
    2. Modern Awards
      1. Modern Awards do not apply to employees earning over the high-income threshold
      2. List of Modern Awards
      3. Pay guides to modern awards
      4. What is contained in a Modern Award
      5. Updates to Modern Awards
      6. Pay and Condition Calculators and Tools (PACT)
      7. Award Finder
    3. Status of Agreements and Contracts
      1. Enterprise Agreements
      2. Common Law Contracts
    4. National Minimum Wage (NMW)
    5. National Employment Standards (NES)
    6. Maximum Weekly Hours
    7. Requests for Flexible Working Arrangements
      1. Eligibility for flexible working arrangements
    8. Parental Leave and Related Entitlements
      1. Eligibility
      2. Effect of the Government Paid Parental Leave Scheme
      3. Transfer to a safe job
      4. Taking Parental Leave
      5. Unpaid parental leave’s impact on accruals, service and public holidays
      6. Returning to work
      7. Ending employment during parental leave
    9. Annual Leave
      1. Entitlement to annual leave
      2. Accrual of annual leave
      3. Taking annual leave
      4. Payment for annual leave
    10. Personal Leave — Includes Sick Leave, Carer’s Leave, and Compassionate Leave
      1. Entitlement and accrual of paid personal/carer’s leave
      2. Taking personal/carer’s leave
      3. Long periods of sick leave
      4. Unpaid carer’s leave
      5. Compassionate leave
      6. Use of personal leave in natural disaster or emergency
    11. Family and domestic violence leave
      1. What is family and domestic violence?
      2. When can employees take family and domestic violence leave?
    12. Community Service Leave
      1. Voluntary Emergency Management Activity
      2. Jury Duty
      3. Notice and evidence for community service leave
    13. Long Service Leave Where the ‘ordinary time rate of pay’ is not fixed, it will be determined by calculating the greatest of:
      1. Employee serves in more than one State
      2. Long service leave and awards prior to 1 January 2010
      3. Long Service Leave and transfer of business
      4. Portable Long Service Leave Schemes
      5. What is ‘domestic or other pressing necessity’
    14. Public Holidays 2019/20
      1. Local public holidays
      2. Rostering and payment for Public Holidays
      3. Public holidays and leave entitlements
      4. Requesting and refusing to work on public holidays
      5. Public holiday interstate
    15. Fair Work Information Statement
    16. Statutory Bodies
      1. Fair Work Commission
      2. Fair Work Ombudsman (FWO)
    17. Worker Records
      1. What records must employers keep?
      2. Pay Statements
      3. Contravention of Record-Keeping and Pay Slip Obligations
      4. How long should records be kept
    18. Other Fair Work issues
      1. Changes to penalty rates as of 1 July 2019 and 1 July 2020
      2. Holiday shutdowns
      3. Workplace laws for franchisors and holding companies
      4. Transfer of business – When businesses change owners
      5. Unpaid leave
      6. Unpaid work
      7. Wage subsidies and incentive payments for employers
      8. Workplace Advice Service
      9. Calculating casual penalty rates
      10. Casual conversion clause in most awards
      11. Who is a casual worker – Steyne v Workpac decision
      12. Reversal of onus of proof
      13. Fair Work Templates
      14. Contact Fair Work Commission
      15. Contact the Fair Work Ombudsman
  4. WHEN EMPLOYMENT ENDS
    1. Notice of Termination and Redundancy Pay
      1. Notice of termination or payment in lieu of notice
      2. Resignation – how much notice?
      3. Dismissal – how much notice?
      4. Leave during notice period (applies to resignation and dismissal & redundancy)
      5. Redundancy Pay
    2. Unfair dismissal
      1. What is an unfair dismissal?
      2. Unlawful Dismissal
      3. The Fair Dismissal Code for Small Business
      4. Small Business Fair Dismissal Code Checklist
    3. Ending employment – other issues
      1. Is Leave loading payable on Termination?
      2. When does the final pay have to be made to the employee?
      3. Terminating a person on personal (sick) leave or workers compensation
      4. Managing performance-based termination
      5. Termination and serious misconduct
    4. Reporting payments through STP when an employee leaves employment
    5. Annual Leave on termination
      1. Amounts included in annual leave paid on termination (including redundancy and resignation)
      2. Tax treatment of annual leave on termination
      3. Treatment of annual leave on resignation, retirement or performance-based dismissal
      4. Annual Leave for Genuine Redundancy, Invalidity and ATO Approved Early Retirement
    6. Taxing Long Service Leave on termination
      1. Treatment of long service leave when an employee resigns, retires or is dismissed as a result of performance.
      2. Long Service Leave for Genuine Redundancy, Invalidity and ATO Approved Early Retirement
      3. No additional withholding for higher education loans applied to the payment of lump sums on termination
    7. Genuine Redundancy and tax-free amounts
      1. Overview
      2. Tax treatment of amounts paid under a genuine redundancy
      3. When is a termination a Genuine Redundancy and therefore tax-free up to a limit?
      4. Other important points about genuine redundancy
      5. Redundancy examples
    8. Approved early retirement schemes
    9. Employment Termination Payments (ETPS)
      1. PAYG Payment Summary – Employment Termination Payment no longer relevant – see STP and ETPs
      2. ETPs and Single Touch Payroll (STP)
    10. Treatment of an ETP
      1. Calculating taxable and tax-free components for employees who commence employment before 1 July 1983
      2. Tax to be withheld from the taxable component of an ETP
      3. The whole of income cap
      4. Whole of income cap examples
    11. ETP examples
    12. Other issues – taxing termination pay
    13. Invalidity Payments
      1. Treatment of annual leave and long service leave on invalidity
      2. Invalidity ETPs
    14. Lump Sum Payments on Death of an Employee
      1. Other important information in relation to payments after death of an employee
      2. Employment Separation Certificates
  5. THE SUPERANNUATION GUARANTEE
    1. Tax File Number & Superannuation Funds
    2. Minimum Level of Superannuation Guarantee Contributions
      1. Which rate will apply?
      2. SG percentage increase– impact on salaried/packaged employees
    3. Deadlines for Superannuation Contributions
      1. Superannuation Guarantee (Employer Contributions) Deadlines
      2. Salary sacrifice employer contributions (Employer Contributions)
      3. Voluntary employee super contributions (contributions withheld from net salary – (Employee Contributions)
      4. Paying superannuation in advance
      5. End of year allocations of superannuation contributions
      6. The Superannuation Guarantee Charge – Penalty for Overdue Superannuation Guarantee Contributions
    4. Allocating and paying contributions
      1. Allocating contributions through STP
      2. Choice of fund
      3. Small business superannuation clearing house distributes super at no charge
      4. Employers are required to make contributions using SuperStream
    5. Superannuation Guarantee liability for Specific Workers / Payments
      1. Payments for which Superannuation does not have to be paid
      2. Salaried employees – Determining the superannuation guarantee portion of an all-inclusive amount
      3. Treatment of Certain Workers
      4. What payroll is counted for Superannuation guarantee purposes (Ordinary Time Earnings OTE at stated in SGR 2009/2)
      5. SG and Leave loading
    6. Superannuation Caps
      1. Maximum Quarterly Contribution Base
      2. Concessional contributions cap (for SG & salary sacrifice)
      3. Tax rates applied to superannuation (withheld by the superannuation fund not the employer) within and in excess of the caps
    7. Superannuation & Salary Sacrifice
      1. Salary sacrificed superannuation contributions are employer contributions
      2. How does salary sacrifice work?
      3. A salary sacrifice arrangement must be ‘effective’. How is this achieved?
      4. What salary is the superannuation guarantee based on when an employee salary sacrifices to a superannuation fund?
      5. Superannuation contributions made under an ineffective salary sacrifice agreement are subject to FBT
      6. The effect of salary sacrifice on other entitlements
      7. How much can be salary sacrificed?
      8. Employees can salary sacrifice to save for first home
      9. Employees can claim deductions for personal super contributions – The equivalent of salary sacrificing to super
    8. Reportable Employer Superannuation Contributions (RESC)
      1. Reportable superannuation contributions
      2. Superannuation contributions which are not reportable
      3. Other RESC Factors
    9. Other Superannuation Information
      1. Record keeping requirements for superannuation
      2. Non-residents can access their superannuation early
      3. Splitting of superannuation contributions
      4. Tax offset for super contributions on behalf of spouse
      5. Superannuation co-contribution for low-income earners
      6. Status of Superannuation Fund Expenses Paid by the Employer
  6. FRINGE BENEFITS TAX (FBT)
    1. Liability to FBT
      1. Fringe Benefits Tax Year & Assessment of Liability
    2. Calculating FBT in Summary
    3. Classifying Fringe Benefits, Grossing-Up Fringe Benefits & Calculating of the FBT Payable
      1. Gross-up rates for 2019/20
      2. Summary of current FBT year
      3. GST inclusive value is used
    4. Employee cash/expense contribution to fringe benefit
      1. Employee contributes cash
      2. Employee pays expenses
    5. Record Keeping
      1. Record Keeping Exemption for Small Business (turnover less than $10milllion)
      2. Declarations
    6. Specific Treatment of Cars & Related Fringe Benefits
      1. Determining the taxable value of a motor vehicle
      2. The Statutory Formula Method
      3. The Operating Cost Method
      4. Simplified approach to car fringe benefits for employers with fleet cars
      5. Novated Leases
      6. Salary sacrificing a motor vehicle – The Options
      7. FBT Exempt Motor Vehicles
      8. Road Tolls
      9. Car Parking
    7. Specific Treatment of Other Fringe Benefits
      1. Expense payments
      2. Other benefits (“residual” benefits)
      3. Meals & Board
      4. Housing
      5. Property and Goods
      6. Airline Transport
      7. Loans/Debt Waiver
      8. Entertainment Expenses
      9. Explanation of treatment of other specific entertainment situations
      10. Travel expenses
      11. Benefits provided by a Third-party
    8. Living-away-from-home allowance (LAFHA)
      1. LAFHA eligibility
      2. LAFHA Benefits an eligible employee can receive
      3. Substantiation of expenses
      4. LAFHA is an exempt benefit only for the first 12 months
      5. Fly-in fly-out/drive-in drive-out workers complete declaration
    9. Exemptions, Reductions & Concessions
      1. Benefits to which FBT does not apply
      2. Minor benefits
      3. Remote Area housing
      4. Concessions for employees posted overseas
      5. Relocation Exemptions
      6. Work-related items
    10. ‘In-house’ fringe benefits
      1. Long service awards
      2. Certain payments to employee entitlement funds
      3. Taxi travel exemption
      4. Other exemptions
      5. Reducing liability by applying the ‘Otherwise Deductible’ Rule:
      6. Employees’ Clothing/Uniforms
    11. Salary Sacrifice
      1. Important notes about salary sacrifice
      2. Salary Sacrifice Scenarios
    12. Employers who are FBT exempt & rebatable employers
      1. Organisations entitled to full FBT exemption
      2. Organisations entitled to a FBT exemption up to the grossed-up capping value of $30,000
      3. Organisations entitled to a FBT exemption up to the grossed-up capping value of $17,000
      4. Employers who are entitled to an FBT rebate of up to $30,000 grossed-up
      5. Benefits excluded (wholly or partly) from FBT capping measures
    13. Reportable Fringe Benefits
      1. Recordkeeping for reportable fringe benefits
      2. Treatment of reportable fringe benefits by exempt and rebatable employers
      3. Fringe benefits exempt from reporting requirement
      4. No reporting required for pooled or shared vehicles
      5. Which employees will have a reportable fringe benefit amount?
      6. Calculating the Reportable Fringe Benefit Amount
      7. Use GST inclusive value but only gross-up at the lower rate
      8. Where is the Reportable Fringe Benefit Amount (RFBA) reported?
      9. Reportable Fringe Benefits – The Effect on Employees
    14. The Fringe Benefits Tax Return
      1. Lodgement
      2. Completing the Fringe Benefits Tax Return
      3. Additional information about completion of FBT return for PBI’s, health promotion charity, public/non-profit hospital, public ambulance service
      4. Additional information about completion of FBT return for rebatable employers
      5. Paying FBT
      6. Fringe Benefits Tax and the BAS
  7. WORKERS’ COMPENSATION
    1. Workcover National Harmonisation Plan
      1. Workers’ Compensation Guidance Material
    2. Cross Border Arrangements
      1. The ‘State of Connection’
      2. Supporting documentation
      3. Temporary work interstate for the same employer
      4. Practical Examples
    3. Defining Workers, Employees, and Contractors
      1. New South Wales
      2. Victoria
      3. Queensland
      4. South Australia
      5. Northern Territory
      6. Australian Capital Territory
      7. Tasmania
      8. Western Australia
    4. What remuneration is declared premium purposes?
    5. Other Issues
      1. Payments to Entities other than individuals
      2. Impact of the GST
      3. Accrual of leave entitlements for workers’ compensation recipients
  8. PAYROLL TAX
    1. Exemptions and Rebates
      1. General Exemptions for all States
      2. New South Wales
      3. Victoria
      4. Tasmania
      5. South Australia
      6. Queensland
      7. Northern Territory
      8. Western Australia
      9. Australian Capital Territory
      10. Registration Requirements
      11. Cancellation of registration
    2. Where is Payroll Tax Payable
      1. Where services are performed entirely in one jurisdiction
      2. Where services are performed in more than one Australian jurisdiction and/or partly outside all Australian jurisdictions
      3. Employment in another country
      4. Services performed offshore
      5. Wages paid in a foreign currency
    3. Records
    4. Payroll Tax & GST
      1. GST component of taxable wages is excluded for payroll tax purposes
    5. Grouping of Employers
      1. Common employees
      2. Controlling interest
      3. Commonly controlled businesses
      4. Related under corporations law
    6. Thresholds & Rates
      1. Varying monthly threshold
      2. Exemption/Reduction entitlement
      3. Monthly Returns and Annual Adjustments
      4. Reduction of thresholds & Calculation of Payroll Tax Payable
    7. Payments to Contractors – All jurisdictions except WA
      1. Relevant/Service contracts are taxable
      2. Exclusions/Exemptions
      3. South Australia – Relevant Contracts Decision Tool
    8. Payments to Contractors – Western Australia
    9. What are Wages
      1. Payments assessable for payroll tax?
      2. Notes:
  9. GOODS & SERVICES TAX (GST)
    1. The GST Base
    2. Registration
      1. Who is required to register?
      2. What is Annual Turnover (for GST purposes)?
      3. When to Register
      4. How to register for GST
      5. Consequences for entities who fail to register when required
      6. Should entities with a low turnover choose to register?
      7. Taxi drivers must register regardless of turnover
      8. Special rule for Charities/Non-Profit Organisations
      9. Registration for overseas businesses
      10. Cancelling GST registration
    3. How does the GST work?
      1. When can you claim GST credits?
      2. Time limits for claiming GST credits
      3. When can’t businesses claim GST credits?
      4. GST credits and income tax deductions
      5. Special rules for claiming GST Credits
      6. Acquisitions through agents for non-residents
      7. GST refunds as a result of capital items purchased
      8. GST refunds as a result of an error on previous BAS
    4. Attribution Rules
      1. Accounting for GST on a cash basis
      2. Accounting for GST on a non-cash basis
      3. Attribution rule for lay-by sales
      4. Attribution rule for security deposits
      5. Attribution rule for sale of land under a standard land contract
      6. Attribution rule for gift vouchers
      7. Other special attribution rules
    5. Tax Invoices
      1. What is a valid tax invoice?
      2. What if a document does not contain all of the required information?
      3. What if you claimed a GST credit without having a valid tax invoice?
      4. How does the ATO deal with missing or invalid tax invoices?
      5. Situations where a tax invoice may not be required
    6. Making Adjustments
      1. What are adjustments?
      2. When do you make an adjustment?
      3. Information requirements on adjustment notes
      4. Adjustments can be reconciled on the BAS in one of two ways
    7. Supplies which are GST-free
      1. More information
    8. Supplies which are input taxed
      1. Financial supplies
      2. Residential Premises
      3. Other Input Taxed Activities
    9. Simplified Accounting
      1. Simplified accounting methods for food retailers
    10. GST cross-border transactions – Imports
      1. Australian businesses
      2. Non-resident businesses
      3. Imported digital products and services (the ‘Netflix’ tax)
      4. Proposed change to Online Hotel Bookings
      5. Imports which are not taxable for GST purposes
    11. Other Issues
      1. GST and the National Insurance Disability Scheme (NDIS)
      2. Treatment of Goods on Consignment
      3. Pricing Requirements
      4. Lease Arrangements
      5. Hire Purchase
      6. Motor Vehicles
      7. Status of Government Fees
      8. How to determine whether the sale or purchase of a product or service is connected with Australia
      9. Gambling
      10. Second-hand Goods
      11. GST Groups
      12. Prizes
      13. Wine equalisation tax
      14. Mutual Bodies
      15. Accounting for GST for Income Tax Purposes
      16. Australian Business Number
      17. Treatment of Property
      18. Insurance
      19. Reimbursements & Disbursements
      20. Issues for Charitable and Non-profit Organisations
  10. REPORTING GST ON THE BUSINESS ACTIVITY STATEMENT (BAS)
    1. Instalment Activity Statement (IAS)
    2. Business Activity Statement (BAS)
    3. Due Dates
      1. Extensions for Lodging Quarterly BAS
      2. Annual Reporting
      3. Lodgement and Payment
      4. Methods of lodging
      5. End of Tax Period May Vary
    4. Individuals must be registered to provide BAS Services
      1. Who needs to register as a BAS agent?
      2. What are BAS services?
      3. BAS and Tax Agents need to complete Annual Declaration with the Tax Practitioners Board (TPB)
    5. Accounting for GST
      1. Accounts method
      2. Interactive GST Calculation Sheet (to be completed online)
    6. BAS Reporting Options for GST (Not including Annual Reporting)
      1. Option 1 – Full reporting method – Pay GST Quarterly & Report Quarterly (Monthly for large payers)
      2. Option 2 – Simpler BAS reporting method — Pay and report GST Monthly, Quarterly or Annually
      3. Option 3 – GST instalments method – Pay ATO GST instalment Quarterly & Report Annually
    7. Reporting PAYG Instalments on the BAS/IAS
      1. What are PAYG instalments?
      2. Reporting Options
      3. Some taxpayers excluded from paying PAYG instalments
      4. Voluntary entry into PAYG instalments
      5. PAYG instalments calculator
    8. Specific Issues
      1. Nothing to Report or not Trading
      2. Correcting GST Errors
      3. Zero amounts can be reported via telephone
      4. BAS payment cards for taxi drivers
      5. BAS information for GST groups
      6. BAS information for GST Branches
      7. The Fuel Tax Credit Scheme
      8. GST streamlined assurance review for large multinationals and public companies
    9. Payment Methods

 

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