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For a summary of the key Budget 2015-16 measures affecting employers click here to see The Adviser.
The Department of Employment undertook a series of consultations with employers to assess their views on gender equity reporting requirements. Clearly, changes are needed with 79 per cent of those consulted expressing their dissatisfaction. Current reporting requirements are considered too difficult and do not represent value for effort.
The NSW Government has announced that WorkCover is moving towards simpler, easier to understand premiums that provide certainty for medium and large businesses.
The key objectives of the reform are to:
The Federal Government plans changes to tax and superannuation reporting obligations through the introduction of an application called “Single Touch Payroll”.
Under this contentious proposal it is planned that employers’ accounting software will automatically report payroll information to the Tax Office when employees are paid.
The ATO envisages this will eliminate the need for employers to report employee-related pay-as-you-go withholding (PAYGW) in their activity statements throughout the year and employee payment summaries at the end of the year.