Despite unprecedented circumstances, employers still need to consider the requirements of dismissal under the Fair Work Act when ending employment to avoid legal action against them. When dismissing or standing down employees due to COVID-19 limitations, employers must continue to comply with the applicable award, enterprise agreement, workplace policy or employment contract, as well as…
The Government’s economic response to coronavirus will provide SMSFs and their members with additional support, including reducing minimum drawdown rates and early release of superannuation. The minimum annual payment required for account-based pensions and annuities has been reduced in an initiative to assist retirees. For the 2019-20 and 2020-21 financial years, the minimum annual payment…
In emergency situations like the COVID-19 pandemic, there are certain benefits you can provide your employees or their associates which may be exempt from fringe benefits tax (FBT). The fringe benefits tax is a tax which employers must pay on certain benefits they provide for their employees, their employees’ families and associates. However, with emergency…