Info base

Info Base

Our Info Base is a collection of fact sheets, templates, downloadable forms, lodgement checklists, taxation details and other relevant information. 

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  • INFO BASE

    • Resources

      • Individuals

          Residents: Personal tax rates and thresholds

          These rates apply to individuals who are Australian residents for tax purposes: 

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          Non-Residents: Personal tax rates

          Non-residents are not subject to the $18,200 tax free threshold and are not required to pay the Medicare levy.   

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          Rental Properties

          Purchasing a rental propertyWhen purchasing a financed rental property you may consider:o The interest on the debt is deductible in contrast to the interest on the debt for your main…

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          Motor Vehicle Deductions

          Since 1 July 2015 there are only two methods available for claiming a deduction for motor vehicle expenses:Logbook, orCents per kilometre All motor vehicle claims need to be supported by…

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      • Tax Rates

          Residents: Personal tax rates and thresholds

          These rates apply to individuals who are Australian residents for tax purposes: 

          read more »

          Non-Residents: Personal tax rates

          Non-residents are not subject to the $18,200 tax free threshold and are not required to pay the Medicare levy.   

          read more »

          Weekly, Fortnightly & Monthly Tax Tables

          To calculate the Pay As You Go (PAYG) withholding tax amount for your employees download the weekly, fortnightly or monthly tax tables below, depending on your agreed pay frequency. These schedules incorporate the…

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      • Lodgement Dates

          Tax Return Lodgements 2017

          A list of lodgement dates applicable to tax returns for the 2016 - 2017 financial year is below:Individual Tax Returns –• Individuals who lodge their own tax returns, the due date…

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          BAS Lodgements 2017-2018

          The lodgement program due dates for the 2017 - 2018 financial year are listed below for all quarterly and monthly activity statements, including PAYG withholding payments. Please note the different…

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      • Checklists and Downloads

          Personal Tax Return Checklist

          Income:• Group certificate(s)• Statements of any allowances, Centrelink benefits or pensions• Details of interest received on bank accounts• Dividend statements• Rental property statements from managing agent or details of any…

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          Tax Return Checklist for Rental Property Income

          Income & Expenses:• Rental statements from property agents – these will include the rental income, property agent fees and commissions, and advertising expenses• Body corporate / strata fees•…

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          Requirements for BAS

          Below is a list of the detail required to be able to process BAS documentation for lodgement:Bank statements for the full BAS period – Make sure you have all the…

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          Spreadsheets - Business Income & Expenses

          It's not always necessary to purchase, install, create and update complicated accounting package programs when starting up a business. Sometimes a simple Excel spreadsheet can be more suitable, particularly with sole traders and…

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          Spreadsheet - Rental Property

          This spreadsheet is a useful tool for monitoring your rental property's income and expenses for your year end tax return. Keep track of your quarterly earnings and expenditure, as well as capital purchases…

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          Spreadsheet - Motor Vehicle Expenses

          This spreadsheet is a useful tool for monitoring and recording your motor vehicle expenses for your year-end tax return. Keep track of your quarterly expenditure, including lease payments and interest on loans…

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          Template - Motor Vehicle Logbook

          A logbook can help you get the most from your business or work-related motor vehicle use. Download this template so you can keep track of each business or work-related trip…

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      • Superannuation

          Consolidating your super

          There are numerous benefits to keeping your super in one place.  Apart from only paying one set of fees, you will also be able to keep track of your retirement…

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          Binding Beneficiaries Nominations

          Under superannuation law, the Trustee of your super fund has the discretionary power to decide which of your dependents receives your super if you die before you retire. The law…

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      • Estate Planning

          Template - Last Will & Testament

          A Will is a legal document that clearly sets out your wishes for the distribution of your assets after your death. Having a clear, legally valid and up-to-date Will is…

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      • Starting a New Business

          Starting Up Your Business

          1.  Business PlanBefore you register for an ABN and start trading it is vital to sit down and flesh out the finer points of your business idea: Consider the different…

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          Company & Trust Set Up

          If you decide on a company or trust structure for your new business AFYF can assist you in meeting the various legal, ATO and ASIC documentation necessary for registration and…

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          Registering a Business Name

          When you first get started in a business you should register your business name with ASIC. Registration of a business name lasts for either one or three years, depending on the…

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          Company & Partnership Agreements & Deeds

          When first setting up your partnership, company or trust there may be a requirement to draw up and sign an agreement or deed. These agreements can regulate the arrangements between partners,…

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          Invoicing - What to Include

          Invoices can be hand-written, carbon copies or computer generated from programs like Xero or MYOB, but they all need to include certain details.  For businesses registered for GST invoices need…

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      • BAS & GST

          BAS Lodgement Dates 2017-2018

          The lodgement program due dates for the 2017 - 2018 financial year are listed below for all quarterly and monthly activity statements, including PAYG withholding payments. Please note the different…

          read more »

          Requirements for BAS

          Below is a list of the detail required to be able to process BAS documentation for lodgement:Bank statements for the full BAS period – Make sure you have all the…

          read more »
      • Business Planning

          Business Planning

          A business plan is an essential tool in starting up your business. It allows you to set a clear direction for your business, to communicate planning objectives and strategies to…

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      • Employing People

          Weekly, Fortnightly & Monthly Tax Tables

          To calculate the Pay As You Go (PAYG) withholding tax amount for your employees download the weekly, fortnightly or monthly tax tables below, depending on your agreed pay frequency. These schedules incorporate the…

          read more »

          Job Descriptions with Various Templates

          The job description should be the very first step in the recruitment process. It provides a support for writing job advertisements, specifying necessary qualifications, interviewing candidates, planning job training and…

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          Letters of Offer & Example

          A letter of offer is an important aspect when hiring a new employee as it outlines the terms and conditions of the job being offered.Try to include as much detail…

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          Letters of Appointment & Example

          A letter of appointment is another aspect of the recruitment process that the employer should complete to confirm the details of employment. It generally only needs to be a short…

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          Issuing Payment Summaries to Employees

          Payment summaries must be issued to every employee paid during a financial year ending 30 June. These summaries should be given to employees by the 14 July each year.The information…

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      The impact of the new IR Standards

      As from January 1, 2010 new National Employment Standards (NES) and ‘modern’ Industrial Awards will be introduced, further enshrining the rights of employees. This is the final stage of the Rudd government workplace reforms. The NES will apply to all employees, regardless of industry, occupation or income and it will see high income earners receiving statutory entitlements that currently do not exist.

      Australia presently has over 4800 awards in operation, as of 1st January 2010, these will be reduced down to less than 100 ‘modern’ awards. These ‘modern’ awards will be more streamlined and will remove state differences which is a bonus for employers that operate nationally. However there are also some important implications of these changes.

      There have been previous assurances from the Rudd Government that the modern awards will not extend to cover employees who are currently award-free. This now appears to be incorrect as initial advice on some of the draft modern awards has seen some employees now falling into the award regime.

      National Employment Standards (NES)

      The NES included the following:

      1. The maximum weekly hours of work to 38 hours – The maximum hours per week for an employee will be 38 hours subject to ‘reasonable’ additional working hours. Averaging provisions may be included in the new ‘modern’ awards but it is not clear if employers who have award free employees will be able to take advantage of this provision. Taking this away may prove costly for many small businesses, particularly those that are affected by seasonal elements.

      2. Flexible working arrangements for parents – An employee (with 12 months service) who is a parent, or has responsibility for a child under school age, will be entitled to request a change of working arrangements in order to assist them to care for the child. This can include change in working hours, change in patterns of work and changed in location of work.

      If this occurs, employers must give written notice of the decision to allow/disallow the request. A refusal can only be on ‘reasonable’ business grounds. If this is challenged, then the matter can be referred to a third party who has the power to deem that the reasonable business grounds are not sufficient, meaning that you may be required to allow it.

      3. Parental leave and related entitlements – Employees will have, as a minimum – should they choose – 12 months unpaid parental leave, but may request up to 24 months unpaid parental leave from their employer. Again, employers can only refuse on ‘reasonable’ business grounds. A 24 month absence may mean that many employees may lose key components of their skills if the business processes change.

      4. Annual leave - Employees will continue to be entitled to four weeks paid annual leave per year.

      5. Personal/Carer’s leave and compassionate leave – Subject to any extra entitlement within an industrial award, employees will continue to be entitled to ten days of paid personal/carer’s leave per year and two days unpaid carer’s leave for each occasion (subject to paid leave being exhausted). The statutory entitlement of two days paid compassionate leave per occasion also remains unchanged.

      6. Community service leave – This is a new statutory entitlement for many employees who are currently award-free. An employee will be entitled to be absent from work to engage in prescribed community service activities such as jury service and emergency services duties. This includes travel time and reasonable rest time following activity

      7. Long service leave – Employee rights under state laws are enshrined to ensure they cannot be bargained away.

      8. Public holidays – An employee is entitled to be absent from work on public holidays and to be paid for the ordinary hours that would have normally been worked at their base rate of pay. An employer is permitted to ‘reasonably’ request an employee to work on a public holiday. However, an employee may refuse the request if it is not ‘reasonable’ or if the employee’s refusal is ‘reasonable’.

      9. Notice of termination and redundancy pay – The NES will set out the base periods of notice in cases of termination as well as, for the first time, base statutory entitlements to redundancy pay. Employers will need to ensure that any notice periods in existing contracts do not fall beneath the new national standards.

      Employees over the age of 45 will also have a statutory entitlement to an extra week’s termination notice; this is an entitlement that was previously only given in award covered employees and was not in national standards. The statutory entitlement to redundancy pay is also new for many employees. Employers with fewer than 15 employees will continue to be excluded from the requirement to pay redundancy pay.

      10. Fair work information statement – Employers will be required to give each new employee a ‘Fair Work Information Statement’ which contains information regarding the NES, Modern Awards, the right to freedom of association and the role of Fair Work Australia.

      Award ‘Modernisation’

      In addition to the NES, employers must make themselves aware of significant changes occurring within industrial awards. The traditional State and Federal Award structure which consists of over 4800 awards is being brought into the modern age with new ‘modern awards’ coming into place on the 1st January 2010.

      This will reduce the current number of award down to less than 100. Employers will be required to not only adhere to the NES but also with the modern award applicable to their employees, which extend to employees beyond the NES. Whilst there is an argument that awards will become simplified, employers will have to ensure their contracts or arrangements reflect the changes in the new awards.

      Failure to respond to changes in the award could mean you underpay or deny entitlements to employees – putting your business at risk of complaints and investigations. Some of the items that will be covered by the ‘modern’ awards are minimum wages, ordinary hours of work, overtime rates, penalty rates and allowances, procedures for consultation and dispute settlement and industry specific redundancy schemes.

      High income earners will not be subject to ‘modern’ awards. However, we are yet to see a definition of high income earner. It is expected that this will be set at $100,000 per annum, however, it is not yet clear if this is base cash salary or if it includes other salary packaged benefits.

      It has been said that the ‘modern’ awards will provide for a level of flexibility via the use of a flexibility clause which will allow an employer and employee to come to an alternate agreement regarding:


      • Arrangements for when work is performed

      • Overtime rates

      • Penalty rates

      • Allowances; and

      • Leave loading.

      However there will be strict conditions for these ‘flexibility’ agreements and an employee cannot be coerced into signing an agreement nor can it result in an overall reduction in terms and conditions for the employee. In other words the employee must still receive the same as the award or better.

      Flexibility Agreements

      Flexibility Agreements must be set out in writing, signed by each party and state each and every term of the award that is being varied, detail in what way the term is varied and detail exactly how it does not disadvantage the employee.

      Take the common case of incorporating leave loading into an hourly rate, it appears that this will need to be the subject of a flexibility agreement and therefore will need to be in writing in the format prescribed by the award. Verbal arrangements or simple one-line arrangements in a letter of offer to an employee will not be permissible. Many employers will be ill-equipped to meet the stringent requirements of these agreements and may find themselves caught by this clause unless they get professional and informed advice.

      The other concern is that either party may end the agreement by giving 28 days notice, whereby the employee will return to the full terms and conditions of the relevant modern award. On just what grounds an employer can terminate the agreement is unclear but it is of concern that an employer may restructure things to suit an employee and then be given only four weeks’ notice if the employee changes their mind and wants to go back to the award. This has the potential to impact other employees within the organisation.

      Practical implication for employers

      The long reaching impact of the new NES and the ‘modern’ awards will mean that virtually every employment contract in Australia will need to be reviewed. Employee policies will also need to be reviewed to ensure that they do not contradict the NES and the ‘modern’ awards. It is crucial that business owners and managers are fully aware of the implications of these changed entitlements. For those businesses without in-house HR expertise, now may be the time to consider outside assistance. It is strongly recommended that employers start to plan now for the change and strategise. Ignorance will be no defense.

      David Chapman
      My Business April 2009


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