3 weeks ago

REB Group

What does "bright-line rule" mean?

A bright-line rule is a clearly defined rule that leaves no room for interpretation.

You can think of it as someone drawing a line in the sand. It’s clear when you cross that line.

The bright-line property rule was updated on 29 March 2018. It says you’ll pay tax when you buy and sell a residential property within five years, unless an exception applies. It’s easy to know if this rule applies in your situation.

All existing property tax rules still apply. So even if the bright-line rule doesn’t apply in your situation, that doesn’t necessarily mean you won’t need to pay tax on your property profits.

Find out more below -
... See MoreSee Less

View on Facebook

3 weeks ago

REB Group

Annual Leave -

4 weeks entitlement
Holiday pay
Avg Weekly Earnings (52 weeks) or Ordinary weekly pay (4 weeks prior)

You must take the greater of the average or ordinary pay

What’s included?
Gross Earnings Include
• Salary/wages
• Overtime
• penalty payments
• taxable allowances
• payments made from annual or public holidays
• sick or bereavement leave
• first week for work injury
• any top-up payments, commission, productivity or incentive payments, value of board or lodging

*BONUS'S are included in 52 weeks calculation but not in weekly (x4) calculation
Car/Tool/Petrol Allowance – should all be included in holiday pay
... See MoreSee Less

View on Facebook

1 month ago

REB Group

With Christmas Holidays coming up do you know about leave calculations?

Over the coming weeks we will share some information to help you along 🙂

Minimum Entitlement -

4 weeks paid holiday after 12 months continuous service with the same employer

8% holiday pay where less than 12 months employment

11 days paid statutory holidays where holidays fall on days usually worked

5 days sick leave for personal sickness or injury, of the sickness or injury of a dependent

3 day bereavement leave
... See MoreSee Less

View on Facebook

1 month ago

REB Group

New Customs Act - what’s changing?

From 1 October 2018, Customs will have a new Act that may affect your business. If you deal with Customs, check if your business is impacted.

When: 1 October 2018

What:

New Customs and Excise Act 2018 takes effect 1 October 2018. Some business will be affected by the changes. You need to ensure you understand if and how you’re impacted, and prepare your business to comply from 1 October 2018.

Why:

This updates the 1996 Act, which wasn’t in step with modern business practices. The new Act addresses these issues and makes it easier for you to meet your compliance obligations. It also provides you with greater transparency around how Customs works.

Who:

importers, exporters, excise manufacturers, brokers, other service providers like declarant and logistics services, and businesses who provide storage and transport of imports and exports.This is an overview of the new Customs and Excise Act 2018
... See MoreSee Less

View on Facebook