June 2020 Newsletter
News headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail.
You will recall previous bulletins informing you that new rules for annualised salaries will apply to award-based employers and employees. These changes will apply after the end of the pay period finishing after 1 March 2020.
If we pay above the award rate, can we absorb annual leave loading into the annualised salary?
Company tax rate reduces to 26% for base rate entities. Keep reading for more information .....
"...while it is all very well to talk of 'turning points', one can surely only recognise such moments in retrospect." Kazuo Ishiguro, The Remains of the Day
To be eligible for JobKeeper payments as a casual employee, the individual had to be a long-term casual at 1 March 2020.
Despite the current economic environment, the company tax rate will reduce to 26% for small and medium businesses from 1 July 2020.
The material and contents provided in this publication are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained.