Payroll and tax rules: What you need to know right now
1. New income tax brackets are now in full effect Last year’s income tax adjustments are now fully in place for the 2024–25 tax year. That means employees may see slight changes to their take-home pay, impacting payroll calculations. The consequential changes on fringe benefit tax brackets for attributed benefits such as company cars apply […]
Minimum wage set to change: what you need to know
The government has announced an increase to the minimum wage that will kick in from April 1. The adult minimum wage will rise by $0.45 an hour, taking it up to $23.15 an hour. This will mean additional costs for many businesses. Workplace Relations and Safety Minister Brooke van Velden said that “a cautious approach […]
Don’t forget – timely reminders for April 2023
