Blog categorized as News Alerts

The new 'Secure Jobs, Better Pay' Bill 2022 brings major changes to employment laws. While most of the changes roll out over the next 6-12 months, some take effect now. Talk to us about reviewing your HR documents.

The October 2022 Federal Budget contains measures which may provide you with an ability to earn some extra income without hurting your social security entitlements, to ease cost of living pressures.

Age pensioners and income recipients are set to benefit from a change in rules to the eligibility tests in relation to their principal home. See how changes to the income and assets tests may affect you.

If you’re not already using Single Touch Payroll Phase 2 in your payroll software, you may have more time before you have to start using STP 2. Talk to us today to check your payroll systems and software before upgrading to STP Phase 2.

Are you across the recent payroll and employment law updates? We can help check your payroll setup, award provisions, employee agreements, and payroll costing. We can also assess if your software is ready for ATO STP Phase 2 reporting.

Crypto assets are being specifically excluded from being foreign currency for income tax purposes, with exposure draft legislation released.

The ATO is resuming debt recovery action and issuing director penalty notices. If you’ve received a DPN letter about personal liability for business debt, talk to us so we can help manage your finances and your business ops can continue uninterrupted.

Not sure about the guidelines for cashing out annual leave? You need to know some essential rules before paying out annual leave so that employees are not disadvantaged. Talk to us, and we'll help review your payroll and leave obligations.

The $450 threshold for super eligibility is removed from July 2022. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.

From 1 July 2022, new electric vehicles under the luxury car limit will be exempt from fringe benefits tax. This means that an electric vehicle under $84,916 can be salary packaged for a substantial tax benefit.

The way to calculate a working from home deduction for running expenses has been adjusted from 1 July 2022, with the ATO issuing a new hourly rate and changes to previous years.

With the ATO’s new directives on the taxation of trust distributions, it's essential to review arrangements. Once finalised by the ATO, the new rules will apply from July 2022. Talk to us about the best beneficiary arrangements.

Major lenders Westpac and National Australia Bank will face the House of Representatives standing committee on economics this week as it delves further into banking practices.

Australia’s mothers have missed out on more than $1.6 billion in retirement savings because the government refuses to pay super on its parental leave scheme.

The Australian Small Business and Family Enterprise Ombudsman has welcomed the Commonwealth Bank’s decision to implement automatic “least-cost routing” for those with a turnover of less than $250,000.

Over 80% of NSW and Victoria SMEs plan to thrive after lockdowns

Australia Weekly Digest - 22 September 2021

Australia Weekly Digest - 14 July 2021

Australia Weekly Digest - 7 July 2021

Australia Weekly Digest - 30 June 2021