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September 2017

Did you know that from the 1st July new ATO rules applied for small businesses with a turnover under $10 million?You will only need to report on Total Sales, GST on Sales and GST on PurchasesHere is the link to the ATO website: https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/Goods-and-services-tax-(GST)/Simpler-BAS/ ...

Are you ready and have you prepared for the changes?Do you or your employees:* Make voluntary superannuation contributions * Have income over $250,000 * Do you or your spouse have income less than $40,000 * You work part time or stopped work for a period of time * Getting close to retirementIf any of these apply to you then you need to read further: https://www.ato.gov.au/Individuals/Super/Super-changes/ ...

From 1 January 2017, tax rates will change for working holiday makers who are in Australia on a 417 or 462 visa. These rates are known as working holiday maker tax rates. What does this mean for you? If you employ a working holiday maker in Australia on a 417 or 462 visa: * From 1 January 2017, you should withhold 15% from every dollar earned up to $37,000 with foreign resident tax rates applying from $37,001. * You must register with us by 31 January 2017 to withhold at the working holiday maker tax rate. * If you already employ working holiday makers you will need to issue two payment summaries (with different rates) this year – one for the period to 31 December 2016 and a second for any period from 1 January 2017. * If you don’t register, you will need to with ...

The Fair Work Commission has announced a 2.4% increase to minimum wages. The increase will apply from the first full pay period starting on or after 1 July 2016.The new national minimum wage will be $672.70 per week or $17.70 per hour.The pay guides have minimum pay rates for full-time, part-time and casual employees in an award. They also include all the monetary allowances and the most frequently used penalty rates for each classification.Pay guides don’t apply when a business has a registered agreement and the employee is covered by it.Every award has information about who is covered by it. You can visit theA wards page if you’re not sure which one applies to you. Click on the link below to view the Fairwork website for more information:https://www.fairwork.go ...