There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. And, the commodity driven $54.4 billion improvement in tax receipts has largely been banked, not spent. With seven months … Read More
Has workplace compliance been on your mind? Book in a FREE Health Check today. Underpayments, incorrect or weak employment contracts, and paying an employee under the wrong award are common compliance errors businesses make – they’re costly errors that can damage a business, but thankfully they’re all avoidable. Don’t make the same mistakes – arrange your complimentary 30-minute Health Check … Read More
The 2022 financial year has been another eventful year for most, having to continue to face unprecedented economic conditions, among many other challenges. Now that we are entering the last month of the financial year, there are a number of matters which you should still attend to as follows: Review your accounts receivable. If there are any invoices that you … Read More
The Federal Government has recently announced a new wage subsidy of up to $28,000 (per employee), paid in $7,000 per quarter over 12 months, aimed at business owners that have recently (within the last 3 months) employed new apprentices or trainees. Your business may be eligible for the subsidy if: you engage an Australian Apprentice between 5 October 2020 and … Read More
You’ll have an extra step to take if you have new employees who start from 1 November 2021 and they don’t choose a super fund. Katie, Account Manager at 542 Partners, takes you through the changes you need to know. As always, our team are here to help. If you would like assistance or have a question, get in touch.
The NSW Government has announced the reintroduction of the National Cabinet’s Mandatory Code of Conduct for Commercial Leasing to mandate rent relief for eligible tenants impacted by COVID-19. The Regulation applies to commercial and retail tenants with a turnover of up to $50 million who qualify for the COVID-19 Microbusiness grant, COVID-19 Business Grant or JobSaver Payment. Relief for … Read More
An increase to the superannuation guarantee (SG) is set to go ahead from 1 July which will see the base rate rise from 9.5 per cent to 10 per cent. Kurtis from 542 Partners breaks down what Employers should consider doing before the end of the financial year in preparation for the super rate increase.