Build your financial security with OBT Financial Group – Lockyer Valley’s Business of the Year 2015 and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 30 years.
From 1 July 2022, two important super guarantee (SG) changes will apply to your business: here’s what you need to do.
Three reminders for the new (FBT) year
Be aware of fringe benefits obligations when salary packaging. Salary packaging is an arrangement between an employer and employee for the employer to provide certain benefits to the employee or associate of the employee in lieu of cash.
Stapled super funds start November 2021
From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. You may soon need to request their ‘stapled super fund’ details from the ATO.
What small business needs to know about 1 July STP changes
From 1 July this year, most small businesses will need to be STP compliant. This includes small employers with closely held payees, as well as some micro businesses and seasonal employers.
1.75% increase to minimum wages
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.
Key COVID-19 measures for Queensland
In response to the coronavirus (‘COVID-19’) pandemic currently impacting the economy and businesses generally, each Australian State and Territory Government has announced relief and other support packages as part of the broader economic stimulus measures. We look at some of the Queensland Government’s key initiatives.
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.
Government’s Stimulus Package in response to COVID-19
To help you gain a better understanding of the government stimulus measures that you may be able to access, we have summarised the key developments as they stand so far.
ATO Workshops for Small Business
Join the ATO to learn about tax for small business at free face to face tax workshops in Gatton run by ATO staff in September.
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
