The government’s hasty answer to the financial strain of COVID-19 has puzzled many businesses regarding their responsibilities to their employees. Considering that COVID-19 has taken the nation by surprise, it’s fitting that the same can be said for the financial support the Australian government has formulated. Here are few decoded facts about JobKeeper: JobKeeper is […]
The ATO has warned taxpayers and businesses to be extra vigilant to guard against scammers throughout the COVID-19 pandemic, pointing out that scammers often work to steal your money and identity while you’re most vulnerable. “Life’s busier than ever for small business owners. Scammers hope you’re too busy to check what they’re saying so you’ll hand over your […]
Sole traders and businesses operating as a partnership are being offered temporary protection during the COVID-19 pandemic. To reduce the financial stress, the Australian Government has temporarily changed bankruptcy laws to protect people who are facing unmanageable debts to help them stay afloat in this difficult period, rather than face insolvency or mandatory closure. This […]
The ATO has moved the exemption cut-off date for Single-Touch Payroll (STP) reporting back a full year to 1 July 2021 in light of the COVID crisis. This applies to businesses with less than 20 employees. The ATO defines closely held payees as those directly related to the entity from which they receive payments, including family members directors or shareholders […]
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Thanks for registering for the How to market and sell remotely webinar. For those who came along to the live session – we hope you found it useful. For those who couldn’t make it, the recording is below for you to watch. Useful links The following resources were mentioned during the webinar, which you might […]
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We’re so proud to announce our new website is live! We’re really excited to launch our new website which you can check out here ADD LINK We hope you like the fresh look. After a few months of planning and editing, we are really proud to reveal the results. The site features a crisp, new […]
We’ve teamed up with the company that helps with our website and marketing to bring you a free webinar on how to market and sell remotely. They’ve been 100% remote for seven years but have built a global business and they want to share how they did it with you. I’ve attended webinars from them […]
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With close to 100% of Australian businesses paying annualised salaries under 22 modern awards, it’s very likely you’ve been impacted by the changes implemented by the Fair Work Commission on 1 March 2020. Prior to this date, you were obligated to pay salaried employees under all Awards at least the same gross amount they would […]
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The Coronavirus has shaken up our economic landscape and many businesses are wondering what their rights, responsibilities and possibilities are for their employees. In addition to several financial benefits for retaining staff, the government has provided some key information on the FairWork website to guide you through the options available to you, including: Arranging flexible work Using paid […]
There are several reasons a business may have underpaid the Super Guarantee (SG) to one or more employees, such as accounting mistakes, cash-flow issues or simply a knock-on effect from the myriad of disasters throughout this summer. If you believe your organisation may have incorrectly paid SG to your staff, you can now rectify it during an SG […]
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Hi [subscriber:firstname | default:] We’ve put together a page of COVID-19 resources (link to your COVID-19 resources page) which you may find helpful. There’s information about government help available plus articles and tools to help with cash flow, staff and remote working and other business topics. If you need help with anything during this difficult […]
Hi [subscriber:firstname | default:] Clearly this is an incredibly tough times for business owners. I just wanted to let you know we’re here to help. If you want to chat about your business, finances or what help is available from the government and other places, let’s make a time. Let me know when works for […]
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A simple statement like ‘I don’t like pineapple on my pizza!’ as a password can take more than one year and costs scammers more than $100,000 to crack. This is a great password because it: is easy to remember has lots of characters includes special characters such as an apostrophe, exclamation mark and spaces. The […]
It’s time to say goodbye to the multiple paper forms that have been required when hiring a new employee. Simply ask your new hire to use the pre-filled Tax file number declaration and Super Choice form via the ATO online services account linked through their myGov login. All you need to do is provide the employee with: your ABN […]
Many employees choose to forego part of their pay and instead have their employer contribute it to their superannuation fund instead. Prior to 1 January 2020, employers could calculate the amount of superannuation guarantee contributions (SGC) they had to pay based on the reduced salary of an employee after their salary sacrifice had been taken […]
The last few months have seen tragic loss of lives, properties and wildlife. If you have been affected, here are some resources that may help ease some of your financial worries: The ATO’s bushfire support page offers impacted parties a range of tax assistance including: extra time to pay debts or lodge tax forms help finding lost tax […]
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At the end of last year the ATO began cracking down on tax dodgers by demanding information from 30 insurance companies about their wealthy customers during the past five years. Insurers were instructed to provide policy information on assets that met these thresholds: Aircraft: $150,000 Marine vessels: $100,000 Fine art: $100,000 per item Motor vehicles: […]
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The new year brings with it a raft of payroll changes, many aimed at reducing wage theft and non-compliance with awards.There are also several changes to superannuation to ensure fairer outcomes for employees. Paying super on gross rate of pay As of 1 January 2020, employers are no longer allowed to pay super only on […]
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How to calculate Australian goods and services tax […]