The expansion of STP also referred to as STP Phase 2 (Single Touch Payroll) will be mandatory January 1st 2022. So what does this mean for employers? In short, there’s not a lot that needs to be done right now. The ATO are working with software providers who will update their STP-enabled software to comply […]
From July 1st 2021 superannuation guarantee increases to 10%. This will be followed by incremental half percentage point increases each year to 12 per cent on 1 July 2025. Employers need to be aware and start planning immediately. This change will impact their employee remuneration arrangements from 1 July 2021 and there will need to […]
Year end is looming. Be prepared as you can to avoid the year end blues.
Get ready to provide employees super choice Recent amendments to the law will give more Australians the opportunity to choose their own superannuation fund – preventing them from being locked into a specific super fund under the terms of an enterprise bargaining agreement. New workplace determinations and enterprise agreements made on or after 1 January 2021 […]
BUSINESS BULLETIN – Winter 2020
The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million). This applies from 12 March 2020 until 30 June 2020, for new or second‑hand assets first used or installed ready for use in this […]
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