You've run the EOFY race and crossed the finish line!

Here are some helpful links to assist you when commencing your 2021 Payroll Marathon!

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Employers may choose to let their employees know and If they are concerned about a shortfall, the employee can ask to have additional tax withheld each period by returning an Upward variation.

2020-21 is a 53 week / 27 fortnight payroll year
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The Government has announced that Study and Training Support Loan Rates and Thresholds have been increased for FYE 30 June 2021.

2020-21 Study and Training Support Loans
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The Government has decided to defer the 2020-21 Budget until 6 October 2020.

2020-21 Budget announcement
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The Fair Work Commission has announced there will be an increase to the National Minimum Wage from 1 July 2020 and an increase to modern award rates from either 1 July 2020, 1 November 2020, or 1 February 2021 depending on the award.​ 

2020-21 National Minimum Wage Increase
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The Fair Work Commission (the Commission) has been reviewing all modern awards since 2014, as part of their 4-yearly review of modern awards. During this process, they've clarified how some award clauses work and changed other clauses. 

Fair Work Commission Award Review 2020
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From 1 January 2020, salary sacrificed super contributions can't be used to reduce your super guarantee obligations, regardless of the amount your employee elects to salary sacrifice.

Concessional Superannuation 1 January 2020
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Superannuation Guarantee Ruling SGR 2009/2 provides our view that annual leave loading will be ordinary time earnings (OTE) unless it is referable to a lost opportunity to work overtime: 

Annual Leave Loading (OTE Ruling)
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The Full Federal Court of Australia handed down a decision dealing with how paid sick and carer’s leave accumulates and is taken under the National Employment Standards (NES). 

The Mondelez Decision - Sick and Carer's Leave
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In response to the COVID-19 crisis, The ATO has extended the exemption deadline for Closely Held Payees from 1 July 2020 to 1 July 2021.

Closely Held Payee deadline extended.

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