Payroll move: VERVE Group Resources to VERVE Fitness Equipment

Project plan · prepared 19 June 2026 · target cutover 1 July 2026 (start of FY27)

Goal: from 1 July 2026, VERVE Fitness Equipment employs and pays the whole team directly. VERVE Group Resources stops employing.

The bank account is the easy part. The real job is making VFE the legal employer and registering it as the payer. VERVE Fitness Group keeps the IP, untouched by this move. Whether VGR is later wound up or kept dormant is a separate decision and does not hold up the payroll switch.

Overall progress 0 of 0 done

Kick off

Now, week of 19 June

Confirm the decision: VFE becomes the employer of all staff from 1 July 2026, VGR stops employing.
Niall
Send this plan to Vincents (accountant) and ask them to confirm the steps and give a fixed quote.
Niall
Tell the bank if any VFE loan covenant is set at entity level.The full wage bill moves onto VFE's accounts, so its standalone numbers change.
Niall Lender
Confirm which states staff are located in (QLD only, or interstate).Decides whether payroll tax registration is needed in more than one state.
Niall
Get VGR's carry forward tax loss figure from its last lodged return.Informs the later close vs keep decision. Not blocking the payroll move.
Niall Accountant

Registrations

By 27 June

Register VFE for PAYG withholding (if not already registered).
Accountant
Register VFE for Queensland payroll tax.VFE will pay around $2M of wages, well over the $1.3M threshold, so registration is required.
Accountant
Register VFE for payroll tax in any other state where staff are based.
Accountant
Reconfigure the payroll tax group so VFE is the designated group employer.VFE and VGR are already grouped, so total payroll tax does not change, only the registered payer.
Accountant
Set up a WorkCover Queensland policy for VFE.
Accountant Bookkeeper

Move the employees

Letters out by 27 June

Prepare a transfer letter or VFE contract template.Associated entity transfer: service, annual leave and long service leave all carry across, no payout, no break in continuity.
HR / Legal
Get the letter reviewed (quick legal or HR check).
HR / Legal
Issue letters to all staff, effective 1 July 2026.
HR / Legal
Brief the team: nothing changes for you.Same role, same pay, same leave balance, continuous service. It is an internal restructure only.
Jacqueline
Novate any subcontractor or supplier agreements in VGR's name to VFE.
Accountant Niall

Payroll system cutover

By first July pay run

Set VFE as the employing entity in Employment Hero.
Bookkeeper / EH
Re-point Single Touch Payroll (STP) to VFE's ABN.
Bookkeeper / EH
Update super (SuperStream / clearing house) to remit under VFE.
Bookkeeper / EH
Move any salary sacrifice, novated leases and deductions (child support, garnishees) to VFE.
Bookkeeper / EH
Set up payroll pay runs from VFE's bank account.
Bookkeeper / EH
Run the first FY27 pay run from VFE and confirm payslips show VFE.
Bookkeeper / EH

Close out VGR as employer

Mid July

Finalise VGR's FY26 Single Touch Payroll.Due 14 July 2026.
Bookkeeper / EH
Lodge VGR's final payroll tax annual reconciliation for FY26.Due around 21 July 2026.
Accountant
Deregister VGR for payroll tax, PAYG withholding and WorkCover.
Accountant

Later, not urgent

Slow time

Decide VGR's future: wind up, keep dormant, or tax consolidate the group.Separate analysis. The size of VGR's trapped losses is the main input.
Niall Accountant
If keeping VGR for now, make sure it is genuinely dormant (no employees, no management charge).
Accountant
Deal with the intercompany loan (VGR owes VFE $659,714) as part of any wind up.
Accountant

Cost reference

Item	Ballpark (one off)
Accountant: registrations, group reconfig, VGR finalisations, advice	$1,500 to $4,000
Payroll cutover: bookkeeper or internal Employment Hero time	up to $1,000
Legal or HR review of the transfer letter (optional)	$500 to $2,000
Government registrations: payroll tax, PAYG, WorkCover	No fee
Total one off	$2,000 to $6,000

Owners: Niall Jacqueline Accountant HR / Legal Bookkeeper / EH Lender

Your ticks and any date edits are saved automatically in this browser. The cutover date and each phase timing are editable: click an underlined date to change it. Payroll tax, PAYG and WorkCover figures and due dates are based on Queensland rules and the FY24 accounts. Have Vincents confirm the specifics for your states and current registrations before lodging.