New Year brings new Superannuation Caps, Contributions & Offsets

Posted by: samantha on 21 December 2016 in Compliance, Payroll

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The Australian Governments superannuation reform package which was passed through Parliament just a few weeks ago includes many important changes in 2017 impacting employees and HR/payroll teams.1.6 billion transfer balance capThe transfer balance cap of $1.6million will apply to the amount of money that a member of a fund can transfer from their accumulation balance to the tax-free pension or retirement balance.Any accumulation balance over and above $1.6million can remain in an accumulation account or outside of superannuation.It should be noted however that once the $1.6million has been transferred in retirement phase that there is no cap on the subsequent earnings on that balance.A six month transition period will be afforded to people who are already retired and with balances below $1.7million as at 30 June 2017, allowing them to bring their retirement balance below the $1.6million cap and avoid…

Santa delivers a 32.5% to 15% tax cut for Working Holiday Makers

Posted by: samantha on 15 December 2016 in Compliance

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The Income Tax Rates Amendment (Working Holiday Maker Reform) Bill 2016 was passed a few days ago, giving many working holiday makers an early Christmas present – a tax cut from 32.5% to 15%!If you are an employer impacted by this change please visit the ATO website to get more information and the relevant ATO registration form. With the new tax rate applying from 1 January 2017, it’s important to act quickly to make sure that your payroll team has the tax changes ready to kick-in by the deadline.The change mostly impacts participants in the Government’s ‘Working Holiday Maker Program’. Thousands of young adults from eligible partner countries take advantage of the program to engage in short-term employment to support themselves while they holiday in Australia. In recent years, this arrangement has become an important part of Australia’s $43.4 billion…

ADP’s Global Payroll Solution Earns Highest Recognition from Everest Group

Posted by: samantha on 12 December 2016 in Payroll

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In its inaugural assessment of Multi-country Payroll Platforms, Everest Group® has positioned ADP as the leading “Achiever” noting the scalability of ADP’s global payroll product – part of its GlobalView® HCM solution – for companies of various sizes.Rajesh Ranjan, Everest Group partner said, “ADP has gone one step further than other service providers with its analytics dashboard for employees that not only helps in understanding the key elements of payroll, but in pay slip comparison as well.”In preparing this report, the Everest Group assessed 11 global payroll platform providers, rating each platform’s usage and execution effectiveness, employee support, reporting and analytics, core payroll country coverage and additional HR capabilities.Get your complimentary copy of the report and learn how your business can benefit from ADP’s expertise. Written by: The ADP Team 

Social Media Platforms for Businesses: Your Guide to Driving Value

Posted by: samantha on 7 December 2016 in Innovation & Technology

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With 69% of Australians on social media(1), it’s an integral part of personal day-to-day life and communication. But how do businesses adopt this platform to facilitate opportunities for employee engagement, learning and community-building?The Value of Social MediaWhile many HR leadership teams have historically discouraged the use of social media in the workplace, many are beginning to realise the remarkable potential of social platforms for communication and collaboration. ADP Research Institute's® study The Evolution of Work: The Changing Nature of the Global Workforce (2) reveals that 50% of employees look toward a future where social media acts as a platform for collaboration in the workplace, while 38% believe that trend is occurring today. The Society for Human Resource Management (3) writes that "worthy" reasons to adopt social media platforms for businesses are to "improve employees' learning ... encourage more sociability among participants and ... create engagement."…

Have your say & get industry insights: 2016 Australian Payroll Association Survey

Posted by: samantha on 1 December 2016 in Payroll

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Do you know what challenges other payroll professionals in Australia face – or which key new trends they’re benefitting from?Click here to take part in the Australian Payroll Association (APA) Payroll Benchmarking Survey and you’ll receive a complimentary copy of the 2017 Payroll Benchmarking Report with valuable information and fresh insights about our industry.The survey takes just ten minutes to complete – and is open until Friday, 23 December 2016.ADP is a member of the APA and a keen supporter of this annual benchmarking study. It’s the only one in Australia that investigates both the costs and efficiencies of payroll operations, as well as, salary costs across locations, employer size and industries.This is a quick and easy way to add your payroll experiences to the learning we’re all keen to gain. Written by: The ADP Team