We’ll examine exactly how taxes are calculated and paid in Australia, breaking down each step so that you have a full understanding of the calculation process. From income deductions to filing deadlines, we’ll provide you with everything you need to know about getting your yearly tax returns...
QuickSuper makes it easy to pay employees’ super in one single payment, no matter what super fund they belong to. Secondly, QuickSuper complies with SuperStream – this is the way businesses must pay employee superannuation guarantee (SG) contributions to super funds. And finally, it’s fast...
In Australia, when you sell shares and other listed securities for a price higher than you paid, the profit or capital gain may be subject to a capital gains tax (CGT). CGT is common globally, but Australia’s implementation is considered one of the world’s most complex, and the nua...
PolitiFactdisputes the extent of this claim. There is no doubt that Donald’s path to being a billionaire was helped by intergenerational wealth transfer. Around 1974,his father lent him $140 million in today’s dollars – most of which was never paid back. ...
Previously, employers had to wait for their new employees to provide tax file numbers and superannuation information before they couldrun payroll. Now that STP is in place, employers can simply go to the online portal to look up this information for themselves, improving access to new employee ...
Is having higher basic salary good? "Generally, ahigher basic pay enhances the tax exemption limit for HRA. It also increases contribution towards retirement benefits like provident fund (usually 12 per cent of the basic pay) and superannuation fund, which means a lower take-home salary," says...
What are the employer costs for full-time employees in Japan? Employers are responsible for deducting “social insurance premiums from their employees’ paychecks. This money is paid into Japan’s social security system and helps to cover things like maternity leave, sick leave, health insurance, ...
In Australia, mandatory benefits include retirement or ‘superannuation,’ and paid time off (also known as PTO) including: holiday pay long service leave maternity/paternity leave sick pay. United Kingdom Benefits In the UK where mandatory employee benefits include: retirement healthcare holiday pa...
Hostplus is one of the largest superannuation funds in Australia. Founded by the Hotels Association and the United Workers Union in 1988, it now has more than 1.3 million members and $68 billion in funds under management. As Hostplus evolves to become the lifetime fund of choice for Australi...
To employ people, you’ll need to comply with employment laws andpay their taxes and superannuation. How do sole traders pay themselves? Sole traders can choose how they want to be paid by salary or dividend. A stipend is an amount you agree to pay yourself each month, just like an empl...