A new Australian Apprenticeships Incentive System (replacing the current Australian Apprenticeships Incentive Program) will commence from July 1st, to provide financial assistance to employers of Australian Apprentices and to Australian Apprentices themselves. In its first phase, from 1 July 2022 to 30 June 2024, the Australian Apprenticeships Incentive System will provide wage subsidies for eligible employers in priority occupations. Priority occupations are those listed on

There are limited situations when an employer can make a deduction from an employee's pay or require an employee to pay money (for example, to fix an overpayment). Most of the time this isn't allowed https://www.fairwork.gov.au/pay-and-wages/deducting-pay-and-overpayments #smallbusinesssupport #adminsupport #accounting #bookkeeping #businessdevelopment #branddesign

You'll need a director identification number (director ID) if you’re a director of a company registered with the Australian Securities and Investments Commission a director of a corporation registered with the Office of the Registrar of Indigenous Corporations planning to become a director in the next 12 months. It’s a unique identifier you apply for once and keep forever. https://www.ato.gov.au/Newsroom/smallbusiness/General/Are-you-a-director-/?sbnews20220620 #smallbusiness

Here are the new car threshold amounts for 2022/2023. https://www.ato.gov.au/Newsroom/smallbusiness/Lodging-and-paying/Cars-and-tax/?sbnews20220620 #tax #smallbusinesssupport #adminsupport #accounting #bookkeeping #businessdevelopment

eInvoicing is the new, standardised way to send and receive electronic invoices directly through your accounting software. Some of your business partners may be eInvoicing already. It's not the same as sending an email or PDF through your software. Instead, eInvoices are sent directly between buyers’ and suppliers’ software through a secure network. Once the sender creates the invoice in their software, this information is sent directly and securely to the receiver’s software

Single Touch Payroll (STP) reporting has been expanded. This expansion is known as STP Phase 2. If you have employees, you will need to start reporting extra information to us each time you run your payroll. https://www.ato.gov.au/Newsroom/smallbusiness/Lodging-and-paying/Changes-to-Single-Touch-Payroll-reporting/?sbnews20220518 #smallbusinesssupport #bookkeeping #accounting #adminsupport #businessdevelopment #payrollservices

The superannuation guarantee rate is rising from 10% to 10.5% from 1/7/22. It is planned to continue to rise at 0.5% annually until it reaches 12% on 1/7/26. For those using Xero accounting this rate will automatically be applied. Any questions? Get in touch. #superannuation #smallbusinesstips #accounting #bookkeeping #adminsupport #businessdevelopment #xeroaccounting

Single Touch Payroll (STP) reporting has been expanded in what is known as STP Phase 2. https://www.ato.gov.au/Newsroom/smallbusiness/Lodging-and-paying/New-Single-Touch-Payroll-Phase-2-resources/?sbnews20220420 #smallbusinesssupport #accounting #bookkeeping #adminsupport #smallbusiness #businessdevelopment #payroll

From 1 July 2022, you will need to pay super for your employees who are under 18 years old if they work more than 30 hours for you in a week. This is because the $450-per-month threshold for super guarantee is being removed. Employees who are under 18 will be eligible for super if they work more than 30 hours in a week, regardless of how much they’re paid. https://www.ato.gov.au/Newsroom/smallbusiness/Employers/Changes-to-super-for-under-18s/?sbnews20220420 #accounting #small

Business QLD provides Business Financial Essentials via their website. These are various tools to help plan your finances. Of course if you need help planning finances or operations in your business we are here to help too. https://www.business.qld.gov.au/running-business/finance/essentials?_cldee=YXVzdGluLm51bmFuQGRlc2J0LnFsZC5nb3YuYXU%3d&recipientid=lead-b6b4c920fd8ae811816070106fa11a21-b230d7d764364e29bc3a614c5e4ae360&esid=79dece7a-9a79-ec11-8d21-0022481599e4 #smallbusines

Employees have a right to be away from work on a public holiday. Find out further information on employee entitlements during public holidays. https://www.fairwork.gov.au/employment-conditions/public-holidays/not-working-on-public-holidays #adminhelp #adminsupport #smallbusiness #smallbusinesssupport #accounting #bookkeeping

The 2022 fringe benefits tax (FBT) year ends on 31 March 2022, so it’s a good time to start considering what you need to do to lodge and pay your FBT. You'll need to work out if you have an FBT liability for fringe benefits you’ve provided to your employees (or their associates) between 1 April 2021 and 31 March 2022. If you have an FBT liability for the 2022 FBT year, your FBT return and payment is due by 23 May. This date applies as the statutory due date of 21 May falls on

Australian Government Disaster Recovery Payments https://www.servicesaustralia.gov.au/south-east-queensland-floods-february-2022-australian-government-disaster-recovery-payment #floods #smallbusiness #smallbusinesshelp #bookkeeping #accounting #adminsupport #floodsrecoverypayment

If you or another small business owner you know has suffered in this recent flood event please take a look at the link below. https://www.business.qld.gov.au/running-business/protecting-business/disaster-resilience/disaster-hub?_cldee=a2ltQGJiZGI0MTcxLmNvbS5hdQ%3d%3d&recipientid=contact-32c0b863c663e8118148e0071b686a81-fa6115643e8c4bd38c03811ce8825d5d&esid=4514e265-5298-ec11-b400-002248d3822f #smallbusiness #smallbusinesshelp #accounting #bookkeeping #adminsupport

Together, myGovID and Relationship Authorisation Manager (RAM) allow you to access online services on behalf of your business, e.g: Online services for business and the #Australian Business Register. Small businesses, including sole traders, can now link their business to their myGovID online in RAM. https://www.ato.gov.au/Newsroom/smallbusiness/General/Link-your-business-to-access-our-online-services/?sbnews20220216 #smallbusiness #businessdevelopment #businesstips #accounti

If you are a director of a company you will need to register for a Directors ID before 30/11/22. See link below to see requirements for registering. https://www.abrs.gov.au/director.../who-needs-apply-and-when #adminsupport #smallbusinesssupport #accounting #bookkeeping #businessdevelopment

If your business is a corporate tax entity (company, corporate limited partnership or public trading trust), you may be eligible to claim the loss carry back tax offset in your 2021 company tax return. If you're eligible, you can carry back losses to certain earlier years where there was an income tax liability. Read more here: https://www.ato.gov.au/Newsroom/smallbusiness/General/How-to-claim-the-loss-carry-back-tax-offset/?sbnews20210818 #taxes #taxadvice #smallbusines #acc

You receive personal services income (PSI) if over 50% of your income is a reward for your personal efforts or skills. You can receive PSI in almost any industry or profession. Need to know more? https://www.ato.gov.au/Newsroom/smallbusiness/General/Do-you-receive-personal-services-income-/?sbnews20210818 #taxpreparation #smallbusiness #businessdevelopment #businessadvisory #accounting #bookkeepingservices

Do you run a business in building, freight, courier or IT services and pay contractors to carry out work? You may be required to report these payments to contractors. Businesses who pay these kinds of contractors need to submit a Taxable payments annual report (TPAR). The Small Business newsroom offers webinars to help prepare you TPAR for your industry. See the link for more info: https://www.ato.gov.au/Newsroom/smallbusiness/General/Know-what-to-do-about-payments-to-contrac

Rates of pay for apprentices doing a 4 year apprenticeship in general building and construction (residental work) as a carpenter and/or joiner (including bridge and wharf), carver, floor sander, letter cutter, stonemason, artificial stoneworker, marble and slate worker or tilelayer have been amended in the pay guide effective 1 July 2021. https://updates.fairwork.gov.au/link/id/zzzz60e518c010180613Pzzzz6049e4f009642863/page.html #construction #building #apprentices #bookkeepi