Drive away in your dream car with Salary Sacrificing

Salary sacrificing is one of the smartest ways to finance and purchase your new car. At PayMe, we’ve made the process easy with our exclusive partnership with Alliance Leasing. The partnership between you, your employer and our leasing company mean the process is simple and straightforward for setting up your salary sacrifice. Upon finding and settling […]

Make the most out of your 2019-20 tax return

You don’t need to wait until 30 June to start preparing for tax time. There are things you can do today that will make life easier and ensure you are ready for your tax return. Superannuation – adding to your superannuation fund directly from your gross (pre-tax) salary can be an easy and tax effective way […]

7 steps to a stress-free workplace

If you’ve held a job then chances are you have, at some point, felt the pressure of work-related stress. In the short-term, stress, can in-fact help performance as your challenge response to the situation gives you an energy surge and boosts your ability to perform under pressure. In the long-term, however, stress can have a greater impact […]

Living Away From Home Allowance A Resounding Incentive

The recruitment of professional talent often requires candidates to temporarily move away from home and one financially attractive benefit is Living Away From Home Allowance (LAFHA). Living Away From Home Allowance (LAFHA) LAFHA can assist in attracting the most suitable candidates because it reduces the taxable income and increases their cash in hand without an […]

No Holiday Leave?? Problem solved with BankIT™

Contractors, no paid leave this Australia Day? Tired of always being the one working over the holiday period or having a reduced pay packet when you do take time off? Well now you can be paid on leave with PayMe’s unique BankIT™ arrangement. For example if you worked over your standard hours for your pay […]

LAFHA for 2019/2020

The Australian Taxation Office (ATO) has issued the latest Living Away From Home Allowance (LAFHA) rates for the 2019/2020 FBT Year. The new rates for the FBT year ending 31st March 2020 for reasonable food and drink- within Australia are:  $ Per Week One adultTwo adultsThree adultsOne adult and one childTwo adults and one childTwo […]

Amendment to Tax Rate from 01 October…

The ATO has issued new PAYG withholding tax schedules to reflect the lower personal tax rate. Changes will increase the middle income tax bracket from $80,000 to $87,000. The rate will now be 32.5% instead of 37%. Employers will be required to lower the amount of tax withheld for affected taxpayers effective from 1 October […]

WHAT IS LAFHA?

It is a “Living away from home allowance”. Not everyone who leaves their home residence for work is eligible to receive LAFHA. To receive LAFHA you must; Relocate to another town or city for work purposes (for longer than 21 days) Maintain your primary residence whilst you work away (cannot lease or sell the property) Return […]

Changes to Super are coming.

From 1 July 2017 Individuals with an adjusted taxable income above $250,000 will pay an additional 15% tax on contributions that aren’t in excess of their annual superannuation contribution cap. Additionally, the mandatory super contributions cap will be lowered to $25,000 for all individuals. (They are currently $30,000 for those under age 50; $35,000 for […]

Canberra raises the Bar

ANDREW Barr says the 2016/17 ACT Budget will provide further support for Canberra businesses by lifting the payroll tax threshold to $2 million. ?This latest change means that any Canberra business that generates less than $2 million per year will be exempt from payroll tax,? Andrew said. ?This means about 40 local businesses will no […]