While HR professionals usually delegate tax issues to their organisation’s payroll people, there are implications from the 2006-2007 tax regulations that HR people may need to reconsider, payroll services provider ePayroll has warned.
While HR professionals usually delegate tax issues to their organisations’ payroll people, there are implications from the 2006-2007 tax regulations that HR people may need to reconsider, payroll services provider ePayroll has warned. With regard to providing incentives for executives, some of the changes that HR must look out for include FBT (Fringe Benefits Tax) benefits; FBT benefits that were formerly tax effective (such as a motor car) may now be ineffective for executives in the $75,000-$150,000 bracket. According to ePayroll it may be better now to consider providing a cash benefit, as these are now taxed at a lower rate. Taxis to and from work, as well as printers and laptops are just some of the benefits that companies can package, of which HR professionals may not be aware. Furthermore, cashing out annual leave is now in place, providing staff with the opportunity to apply in writing to cash out part of their annual leave.
Recruiters to enforce OHS to keep modern workforce
It is up to recruiters to remind clients of the importance of health and safety, Bill Scales, chairman of the Australian Safety and Compensation Council (ASCC) said at the recent Recruitment and Consulting Services Association (RCSA) Annual President’s Dinner. Scales stressed that today’s knowledge-based workers will not tolerate an unsafe or unsupportive work environment. It is estimated that around 300 people will die this year from work related incidents, with 50 young workers suffering from work-related injuries every day, five of which result in permanent incapacity. While Scales claims that recruiters must be responsible for fulfilling the contemporary worker’s need to know the health and safety status of an organisation, he also believes politicians should be reminded of two critical requirements. “Firstly, there needs to be a belief in health and safety and secondly, workers compensation should go hand in hand with the delivery of health and safety outcomes,” Scales said.
