What is Single Touch Payroll Phase 2?
This is the next part of the STP rollout. Where Phase 1 was a way of reporting employees’ tax and superannuation to the Australian Tax Office (ATO), STP Phase 2 expands the program to capture more information such as a further breakdown of gross amounts and income types, required to be reported to the ATO each payday.
New Employer Advisory Service from Fair Work
The Fair Work Ombudsman has released a new Employer Advisory Service (EAS) that provides small business with advice on pay and entitlements under awards, agreements and the National Employment Standards.
Updated Employment Contract Tools
Business.gov.au have created a build your own employment contract (for an employee under Australia’s Fair Work System) that is tailored to your business needs. Making your employee’s pay and conditions clear from the start can help protect your business in the long term.
Super Guarantee to Increase to 10%
The minimum percentage employers are required to pay as employee super is set to increase over the next few years, with the initial increase to 10% due on 1st July 2021.
