Employment and Tax
Our firm provides advice on all aspects of employment law taxes, including the interrelationship of fringe benefits tax (FBT) and GST, and the operation of the Pay As You Go (PAYG) regime, which commenced on 1 July 2000.
Employment law taxes include:
- Fringe benefits tax (and related GST issues)
- PAYG
- Superannuation Guarantee Charge
- Alienation of personal services income rule
- Relevant income tax issues.
We also provide advice on the taxation structuring of termination agreements and taxation planning of retirement.
Fringe Benefits Tax
Fringe benefits tax (“FBT”) is an important issue of interest to both employers and employees. For employers, a proper packaging of monetary and non-monetary remuneration would help to ensure that employees are satisfied and motivated to improve productivity and to achieve the goals of the firm. A proper salary package would assist employers in retaining staff. For employees, a proper remuneration package would be focused on the maximisation of after tax remuneration.
Our firm provides advice on:
- The structuring salary packaging arrangements for maximum tax effectiveness;
- The proper implementation of salary sacrifice arrangements; and
- The structuring of employee remuneration including the implementation of a tax effective employee share scheme or bonus system.