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Latest Accounting News
Hot Issues
ATO dispels top tax time myths to clients as clampdown rolls out
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Salary sacrifice integrity
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Super savings gap for women stuck at 30%
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Passive investment companies tax rate still 30%
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Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
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Tools to help you manage your financial position are available on our site.
Articles archive
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Quarter 4 October - December 2014
Quarter 4 of 2016
Articles
Big-ticket tax set for government review
FBT – Christmas Parties and Taxi Fares
Unclaimed Monies - Christmas Project?
Employee Christmas Parties and Gifts – Any FBT?
‘Beware the tax man’ eyeing holiday period activity
Merry Christmas for 2016, a Happy New Year and a prosperous 2017.
Research reveals key to ‘high-performing’ firms
Late payments hitting SMEs hard
Estate planning issues flagged with $1.6m pension transfer cap
New fleet “safe harbour” approach for car fringe benefits
Travel to a workplace: What’s in, what’s out
Struggling Business Turnarounds
SMSF practitioners told to urgently address TRIS issues
$20,000 write off is only available for small business, right? Well…
Do you need an Employment Agreement?
What does the new withholding tax mean for your clients?
Domestic (non-marital) Relationships
Is there a problem with using your company’s assets for yourself?
SMEs at risk of ‘falling foul’ of ATO
Scams, fraudsters and viruses
Got your car log book ready?
Do you need an Employment Agreement?

 

All employment relationships are subject to an agreement, whether they are written, verbal or a combination.



       


 


It’s not compulsory to have a written agreement and all employees (other than casuals) are protected by the National Employment Standards (NES) whether they’ve signed a contract or not.  There are benefits having a written contract, with the key advantages being certainty of rights, obligations and employment status, as well as the inclusion of terms that aren’t covered in the legislation or applicable industrial instrument.


Employers can’t contract out of the NES or to make employees worse off than their minimum legal entitlements.  They can customise the agreement to suit the business and to include important features, rights and obligations that are not covered in the legislation or implied from the common law.


Examples include:-


  • Restraint of Trade to protect your business goodwill from competition from former employees.
  • Incentive Scheme in addition to base remuneration.
  • Behaviour expectations and termination conditions.
  • Probationary Period for new employees
  • Use of Company Equipment (e.g. car, phone or lap top) and the conditions attaching to such use and Fringe Benefits Tax arrangements.
  • Confidentiality of sensitive information.

These provisions will not be implied unless they are clearly written into the contract.  


 


 


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1st-November-2016