Build your financial security with OBT Financial Group – Lockyer Valley Business of the Year recipients and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 40 years.
The Superannuation Guarantee rate will increase on 1 July 2023. Employers, remember to update your payroll to align with this change.
Annual Wage Review 2023
The Fair Work Commission has announced this year’s Annual Wage Review Decision with another National Minimum Wage increase effective from 1 July. We outline the changes and steps employers need to take.
Super Guarantee rate change reminder
Whether you’re paying super weekly, monthly or quarterly, it’s important to check the super guarantee (SG) that you pay takes into account the new SG changes that started on 1 July 2022.
Super Guarantee Changes
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.
