Stay Informed & Focused! Focus Accounting And Financial Group News

The 4 new rules for fixed-term employment contracts

Amendments made to the Fair Work Act 2009 (Cth) regarding the use of fixed-term employment contracts will come into effect on 6 December 2023. These amendments will restrict the use of fixed-term employment contracts entered into on or after 6 December 2023 and may also impact 'consecutive contracts' entered into prior to this date. read more

Understanding director identification numbers and when you need one

We answer some common questions around the introduction of DIN’s: What are the key requirements under this legislation? Do I need to obtain a DIN? When do I need it by? How do I apply for a DIN? What if I don't register? read more

Proposed cash payments limit legislation abandoned

A cash payments limit was first mentioned in the 2018-19 Federal Budget as a way to tackle the black economy, which has been estimated at being worth up to $50 billion a year. Following this, the Government moved to introduce a $10,000 cash payments limit through the Currency (Restrictions on the Use of Cash) Bill 2019. This bill was abandoned on 3 December 2020. read more

Beware ATO actions to recover tax and superannuation debt

The ATO can take various actions to recover debts. The action taken is tailored to each individual situation and based on the circumstances, past behaviour and lodgment and payment history. read more

ATO to further punish non-compliance with PAYG obligations from 1 July 2019

Now, the ATO has added another incentive for PAYG compliance. From 1 July, businesses that fail to comply lose the ability to claim the corresponding payments as a tax deduction. read more

Do you need a permit to employ children in the family business?

Some employers may be unaware that there is legislation that governs the employment of children, which should be considered before they are brought into the workplace. This is relevant even when the children to be employed are relatives of you or your employees. read more

What does Victoria’s new Labour Hire Licensing Scheme mean for businesses in Australia?

The legislation affects individuals and/or entities that make arrangements to hire or host labour hire from Victoria. Labour hire providers are now required to obtain a license and must lodge annual reports on their labour hire activities. read more

Single Touch Payroll (STP) reporting now updated and for all employers

Now legislation has been passed so that businesses with up to 19 employees are legally required to complete STP reporting from 1 July 2019. The new legislation also extends the scope of STP reporting to include some salary sacrificed amounts. read more

3 New Rules for Gift Cards to apply from 1 November 2019

So what are the 3 new rules for gift cards? All gift cards sold in Australia from 1 November 2019 must meet the following requirements: 1 - They must be valid for a minimum of 3 years from the date of purchase, 2 - The gift card itself must prominently display either the actual expiry date or the the date the card was purchased and a statement about the length of validity, if it doesn't expire it should state words to that effect instead, 3 - No 'post supply' fees can be charged for the use of the card. read more

What happens if you have a data breach? Mandatory notification laws introduced

On 22 February 2018 the Privacy Amendment (Notifiable Data Breaches) Act 2017 came into effect in Australia. This amendment puts an obligation on businesses to notify affected individuals and the Australian Information Commissioner where personal information is breached that is likely to result in serious harm to the individuals concerned. read more