Working Mums & Dads: Eligibility for Flexible Work Arrangements

One of the things I have truly appreciated since having kids is flexibility with my work. This stood out for me a few weeks ago when I attended my sons first school assembly and there were hardly any parents there, even though we got texted the night before about it. All the new kids, including my son, were called out to the stage to receive a certificate and I felt really privileged to be able to share this moment.

I thought I'd take the time to detail the Flexible Working Arrangements which employees may be eligible for. These minimum conditions are part of the National Employment Standards which cover everyone in the national workplace system.

Flexible Working Arrangements include:

• working less hours or changing the start and finish times
• working from home
• job sharing or splitting work shifts

Eligibility: 

• Parents who care for school children or disabled children under 18 years of age; AND
• Employed with current employer for at least 12 months or a casual employee who has been employed regularly and systematically for at least 12 months and is likely to continue working regularly.

Negotiating Flexible Working Arrangements:

The legislation requires employees to ask their employer in writing, giving details of the change you want and reasons why you're asking for the change.

Your employer has 21 days to accept or refuse your request. Employers are only allowed to refuse on 'reasonable business grounds' and they have to provide reasons.

Tips - Fair Work Australia encourage employees and employers to talk about their working arrangements and where possible reach an agreement that meets both their needs. In negotiating a win/win scenario highlight the ways the arrangement could benefit the employer, don't just talk about how good it will be for you because you can work in your pyjamas all day. Possible positives for the employer could include increased productivity, decreased costs such as office space or wages, establishing a positive culture and moral, decrease in staff turnover.

Reasonable business grounds to refuse?

Employers need to look at the following issues to justify refusing a flexible working arrangement:

• how the change would affect the workplace's finances, efficiency, productivity and customer service
• how easy it is for current staff to cover work
• how easy it is to find someone else to do the work
• the arrangements needed to accommodate the employees request.

If you would like to read more about Flexible Working Arrangements click here.

Good-luck with your negotiations!

School Kids Bonus - Did you receive your payment?

So its February and school is back! (Yipee). With much anticipation and excitement my son has started Reception this year. Along with this has come the many purchases that I will have to make for the next 13 or so years.... School shoes, uniform, sports clothes, a hat, a backpack that's almost the same size as him and the list could go on!

Did you know about the Schoolkids bonus payments that were paid in January to help eligible families with education costs? The Schoolkids bonus replaces the Education Tax Refund. The Education Tax Refund was claimed when you lodged your tax return and you had to keep all your receipts.

Now, the School Kids Bonus is a payment of $410 a year for each primary student, paid in two instalments of $205 in January and July and $820 a year for each secondary student, paid in two instalments of $410.

To be eligible, you need to be receiving Family Tax Benefit A. There is a table from the Australian Government website which shows the maximum income your family can earn before the Family Tax Benefit A stops at the bottom of the below web page.

http://www.humanservices.gov.au/customer/enablers/centrelink/family-tax-benefit-part-a-part-b/ftb-a-income-test

FTB A eligibility depends on the number of kids, the age of kids as well as your combined income.

The website also encourages people to contact the government for a more accurate assessment as to FTB A eligibility and that income limits are indicative only.

So, if you didn't received any School Kids Bonus from the Government in your bank account in January than I would highly encourage you to double check your eligibility as every cent counts!

For more information go to australia.gov.au/schoolkidsbonus or call 132 468.

Goodluck to all the school kids!

Like our Facebook page https://www.facebook.com/FlindersAccountants  to keep up to date on the latest personal tax tips and advice or Follow @TheNumbers_Lady on Twitter. 

Small business tax deduction claims - did you miss these changes? Change 1.

If you are purchasing any assets for your business than you need to be aware of the changes to the depreciation rules. Whilst your Accountant may take care of the depreciation, its important for you to know the basics of the rules as your choice in asset could have significant tax implications.

From July 2012, there were three changes to the simplified depreciation rules for small businesses. The changes allow small businesses to accelarate the depreciation of their business assets. Theses changes affect sole traders, partnerships, companies or trusts that carry on business activity with an aggregated turnover of less than $2 million in the Financial Year.

The three changes you may have missed were:

• Immediate write-off for purchased assets costing less than $6,500
• Accelerated $5,000 deduction for motor vehicles
• Simplified depreciation rate of 30%

1. Immediate write-off for purchase assets costing less than $6,500

Under the simplified depreciation rules small business can now claim an outright deduction (write-off) for most purchased depreciating assets that cost less than $6,500. Small business used to be able to only claim an immediate write-off for assets less than $1,000. These changes now apply for the 2012/2013 income year and onwards.

The asset must obviously be used for a taxable purpose or be installed ready to be used for taxable purpose in order to be written off at the end of the income year.

For example:
Susie's Snack Bar bought a commercial coffee machine on the 1st July 2012 for $5,000. As the coffee machine is is a depreciating asset and costs less than $6,500 the business can claim an immediate $5,000 deeduction for the 2012-13 income year.

This change may have significant tax implications if you are deciding on whether to choose an asset that costs $6,000 or a different brand at $7,000. From a tax depreciation perspective, it may be advantageous for you to choose the $6,000 asset as you will be able to right the whole amount off, whereas the $7,000 asset gets depreciated at 15% the first year and 30% thereafter (this is the 3rd change).

I will explain the second and third change in my next post. If you were not aware of these changes, than I would definitely recommend seeing an Accountant who communicates tax changes to you through newsletters, emails or their blog!

Like our Facebook page https://www.facebook.com/BusinessBookkeepingPlus to keep up to date on the latest business tax tips and advice or Follow @TheNumbers_Lady on Twitter.