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The new national minimum wage which applies to all full-time and part-time employees who are not covered by an award or agreement, will increase to $753.80 per week or $19.84 per hour (before tax) from 1 July 2020. The increase to awards will happen in 3 groups with 3 separate dates.
SBSCH USERS Deadline reminder to claim your tax deduction
Small Business Superannuation Clearing House users – want to claim a deduction for super contributions? Your super payments must be accepted by 23 June 2020.
JobKeeper Payment
What steps do you need to take to receive the JobKeeper Payment? Many employers around Australia are asking this same question. During the week commencing Monday 20 April one of our friendly staff will be in contact with you to discuss your possible eligibility for the JobKeeper payment.
FREE Working from Home ATO factsheet
If you work from home right now, remember to keep records and receipts for your home office expenses, along with a record of the hours you work from home. Keeping good records now will help to get your deductions right at tax time. The ATO has a PDF poster you can download to help understand what you can claim.
Government JobKeeper Payments
Under the JobKeeper Payment, businesses impacted by the Coronavirus will be able to access a subsidy from the Government to continue paying their employees. The JobKeeper payment will be administered by the ATO, and will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn).
How to make your early stage business run more efficiently
As we kick-off the new year, the right technology can help you get new customers, upsell to existing ones, expand your offering and improve efficiency so you have time to focus on what matters. Here are some tips on the technology that will have an immediate effect on your business.
Fringe benefits tax and Christmas parties
Reminder about potential FBT implications for celebrating with employees this festive season. FBT obligations depend on the amount spent, when and where a party takes place, who attends and the value and type of gifts given.
Does your business hire contractors?
When hiring workers, do you understand the difference between contractors and employees for tax and super purposes?
How to increase your existing customer base
Growing your business means more cash for you now plus a higher sale price in the future when you decide to eventually sell your business. This article covers how you can increase your customer base by focusing on your existing customers.
Meet your PAYG Withholding Obligations or lose your tax deduction
Are you meeting your Pay As You Go (PAYG) Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
