Industrial Relations Update – October 2021

James Murphy HR/IR

COVID-19 VACCINES AND THE WORKPLACE For the guidance of issuing mandated vaccines in the workplace, the Fair Work Ombudsmen has provided a guide on workplaces as a structure. Tier 1 work – where employees are required as part of their duties to interact with people with an increased risk of being infected with coronavirus (for example, employees working in hotel …

What Pay Rate?

James Murphy Tax

Our Educator is Certificate 3 in children’s service qualified and is working towards a Diploma of Early Childhood Education and Care in NSW Pre-school. We are a small Pre-school and already have a diploma trained Educator. Do we have to pay them at the diploma level because they have completed 50% of their course? Answer The employee is not entitled …

CELEBRATING 2021

James Murphy Tax

Season’s Greetings from the very merry team at … bO2 Corporate Essentials. In a year filled with challenges, we’re grateful for your support. Wishing you happiness & health in 2022. Our last day of the year is Friday 17th December.  We will return on Monday 10th January 2022. THE OFFICE CHRISTMAS PARTY, SHOULD YOU JUST CALL THE WHOLE THING OFF? …

Changing Company Registration

James Murphy Tax

I have composed a resolution concerning changing the company registration from Queensland to NSW. Can you suggest the fastest thing to do to address the resolution? The company was just incorporated yesterday. This shelf company noted that these changes would cost $1,000, which should have been confirmed before the registration. We are looking forward to your kind advice. Answer Our …

Superannuation-Performance Bonus

James Murphy Tax

Is the superannuation to be paid when I pay an employee a performance bonus? Answer Correct, you do pay super because a bonus falls within the definition of Ordinary Times Earnings (OTE).

Carry-Back Losses

James Murphy Tax

There are two separate questions: Would you please provide a brief explanation as to the mechanics behind carry-back losses? And details as to who is entitled to fuel tax credit and how it is calculated. Answer The loss carry back is covered in the Form C instructions guide section S item 13. We trust you find the following link useful: …

HR Health Check docs

James Murphy Tax

I am being asked to do a HR health check at our workplace. What things would they be covering, or what information do I need to provide them? Answer This is a question that we are asked frequently. Log in to your secure portal and look at the current and up to date Covid resources available as a member. You …

Lessee and GST

James Murphy Tax

We are a not-for-profit registered charity, registered for GST and endorsed for income tax exemption, operating as a church. Another legal entity (also a registered not-for-profit charity) owns the church property. It leases it to our legal entity, which is the local church. The lessee pays property costs (e.g., rates, insurance) as part of the lease agreement. Because the invoices …

Voluntary Bankruptcy and SMSFs

James Murphy Tax

In the event of voluntary bankruptcy and SMSF, I presume the director of the corporate trustee must remove themself, and therefore fund must close. What happens to the assets in the fund? Are the funds exposed to the bankruptcy trustee if already bankrupt, and the fund must then close? If the funds remain in the SMSF (cash),  can I close …

Redundancy Payment

James Murphy Tax

I need to make a redundancy payment but need some advice on how to calculate the payment correctly. Answer We take it the payment has been negotiated and that it is only a matter of determining the tax treatment. If it is a genuine bona fide redundancy, then the following tax treatment applies. No tax will be payable on $11,341 …

Setting Up a Company

James Murphy Tax

For example (his wife and brother-in-law ) are planning of purchasing the late sisters’ property as an investment property. They intend to keep their sisters legacy at the same time as an investment for him and his wife for future generations. They will be using their own personal funds (husband and wife) for the purchase. The sale proceeds can be …