Now we have returned to work after the festive season, some of us are starting 2016 with a new set of goals. If your goals are not in writing, they are dreams. Dreams don’t often come true, but goals in writing do. – Jack Daly. Make a start today and put your goals in writing and share them with a colleague to keep you on track. It may be life changing!
Alliance Leasing Pty Ltd has recently been appointed to the Queensland Government novated leasing panel. An Australian owned and operated company, Alliance Leasing will provide novated leasing services to Queensland Government employees from November 7, 2016. Since winning a Telstra Business Award in 2015, the organisation has relocated its head office to Creek Street in Brisbane. We congratulate both the Canberra and Brisbane offices who continue to deliver outstanding service to their customers.
WHAT IS LAFHA? It is a “Living away from home allowance” Not everyone who leaves their home residence for work is eligible to receive LAFHA. To receive LAFHA you must; Relocate to another town or city for work purposes (for longer than 21 days) Maintain your primary residence whilst you work away (cannot lease or sell the property) Return home after the work has been finished If you are looking into our services please get in touch for further information to see how it will benefit you. There is no extra cost for this service if you are a PayMe contractor. For further information, please visit the below link. https://www.ato.gov.au/general/fringe-benefits-tax-(fbt)/in-detail/employers-guide/living-away-from-home-allowance-fringe-benefits/?page=1#11_1_Overview
The ATO has issued new PAYG withholding tax schedules to reflect the lower personal tax rate. Changes will increase the middle income tax bracket from $80,000 to $87,000. The rate will now be 32.5% instead of 37%. Employers will be required to lower the amount of tax withheld for affected taxpayers effective from 1 October 2016. Any tax overpaid beforehand will be refunded by the ATO on assessment after the end of the 2016/17 financial year. Good news for those in this bracket!