What to do when a worker ceases to work for you
Do you know what to do when a worker ceases to work for you?
When EWha, there are no special fringe benefit tax (FBT) or superannuation requirements, other than to remember to include any obligations that relate to them in your next superannuation and FBT payments and reports.
However, there are specific obligations with regard to PAYG withholding and any employment termination payments (ETP) you make to them.
Pay as you go (PAYG) withholding
When an employee (or contractor who has been operating under a voluntary agreement) stops working for you, you have a number of PAYG withholding obligations.
Employment termination payments (ETP)
If your employee is eligible to receive an employment termination payment, you will have additional PAYG withholding obligations.
Interested in joining our team? Why not apply today?
About Our Traineeships:-
Join the Market Leader in 2016 – Accounting Traineeships
Looking to study a B.Com at University of Newcastle in 2016?
Bottrell Business Consultants are a Multi Award Winning Firm
We have 2016 Traineeships available – work 3 days Study part-time 2 days
Apply now to Tara Skippen on firstname.lastname@example.org – send resume & cover letter
www.bottrellaccounting.com.au or check us out on Facebook, Twitter, Instagram or LinkedIn
Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast
Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.
The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.
Our group of businesses & links include the following companies (& our websites);-