December 2018 Newsletter

Contents:

  • ATO reminds on rental property ‘hot issue’
  • Do Employees Have a Right to Take Smoke Breaks?
  • How much power does an Enduring Power of Attorney have?
  • New flexible work ruling comes into force
  • Announcements

ATO reminds on rental property ‘hot issue’

In November 2017, the government introduced new rules around tax deductions for travel expenses associated with residential property investments, and restriction of deductions for depreciation of items in residential rental properties, with a retrospective application from 1 July 2017.

 

 

Do Employees Have a Right to Take Smoke Breaks?

With the sharp increase in restrictions around the sale, promotion and public consumption of cigarettes over the last 15 years, it’s no wonder there’s confusion around smoking in the workplace.

Are smoke breaks required by law?

 

How much power does an Enduring Power of Attorney have?

When people consider estate planning they often only think about what happens after they pass away but ensuring they are protected during their lifetime if they lose capacity is just as important.

The best way to ensure you will be protected is to have valid enduring powers of attorney …

 

New flexible work ruling comes into force

From Saturday, 1 December 2018, new rules governing flexible working arrangements come into force, with employers no longer able to deny reasonable requests without just cause.

While 1 November marked a major compliance deadline, it is 1 December that new rules regarding flexible working arrangements for employees under industry awards take effect.

 


Farm Household Allowance

Farm Household Allowance (FHA) provides assistance to farming families experiencing financial hardship. The program focuses on helping farmers make important decisions to improve their long-term financial situation.

There a four key support elements to the program:

  • a fortnightly payment and supplementary allowances such as rent assistance, telephone and pharmaceutical allowances and a Health Care Card
  • individual case support with a Farm Household Case Officer (FHCO) and a Rural Financial Counsellor (RFC)
  • a financial assessment of the farm enterprise up to $1,500
  • a $4,000 activity supplement that gives farmers an opportunity to develop skills, access training and pay for advice to better manage their business into the future.

Additionally there is a further supplement available which will be delivered in one or two FHA supplement lump sum payments. There is $7,200 for single farmers and $12,000 for farming couples per household.

The first FHA supplement payment will be paid from 1 September 2018. If you get FHA between 1 September 2018 and 1 December 2018 you’ll get the first FHA supplement lump sum.

The second FHA supplement payment will be paid from 1 March 2019. If you get FHA between 2 December 2018 and 1 June 2019 you’ll get the second FHA supplement payment.

The amount of Farm Household Allowance payable depends on your individual circumstances.

For more information please contact the Horsham office of the Rural Financial Counselling Service on (03) 5381 1646.

We remind farmers that other financial assistance maybe available via the:

  • On-Farm Drought Infrastructure Support Grant (up to $5,000)
  • Country Women’s Association Grant (up to $3,000)

Announcements:

This month we congratulate Phoebe as she brings up her second work anniversary and wish both Lee and Sylvia a Happy Birthday!

Phoebe McPherson

Sylvia Hutchinson


Commonly Asked Question

What is this e-invoicing all about?

Electronic Invoicing or e-invoicing for short, promises time and cost savings by removing manual and email generated invoices. E-invoices will be quicker to produce, less prone to human error and it is hoped will be paid quicker.

Although some software vendors already offer a similar system it has relied on both parties using the same software. Under the e-invoicing proposal both parties will not need the same software as e-invoices will be sent to a supplier via their unique digital address.

To read more

All the best from the Watts Price Team!