Superannuation paid on behalf of all employees will increase to 11% for wage payments made (bank transfer) on or after 1st July 2023 (regardless of work period).
Some contractors may be considered employees for super purposes and be entitled to super at the new rate.
Got questions? Contact us.
From 1 July 2023, the new National Minimum Wage will be $882.80 per week or $23.23 per hour.
The new National Minimum Wage will apply from the first full pay period starting on or after 1 July 2023.
Awards are being updated soon, you may need to update your workplace agreements to ensure they are not below the new minimums.
Behind with ATO lodgements? You’re being given a Get Out of Jail Free card.
Small Businesses can lodge late BASs and tax returns without being hit by late lodgement fines.
What fraud risks should you be worried in your small business?
It’s not just people on the outside trying to get it, the people inside your team can be a big risk too.
Do your internal controls need reviewing?
See our hazard checklist here
You may have seen news stories about ‘improvements’ to super starting in 2026. Its not yet law, so don’t get ahead of yourself.
Assuming the bill passes….
From 2026 you will need to pay super on behalf of your employees each time you pay their wages. Payment frequency will change from quarterly to weekly/fortnightly/monthly (or a combination). Payments will be due much sooner than you have been used to.
So you’ve managed to find the right employees, great! Its unlikely that they’ve agreed to work for you for free, so you have to negotiate their wage or salary.
The National Minimum Wage in Australia is currently $21.38 p/h or $812.60 p/w for workers not covered by an award. (You did notice the use of the word minimum.)
If you aren’t sure if you are paying a worthy wage, investigate before FairWork does! Or get an actual expert in to do it for you.
Are you using your super powers to make the world a better place for your team in their retirement?
January – March super contributions need to be in your employees superannuation fund accounts today, what happens if that deadline hasn’t been met?
Penalties. Harsh Penalties. Business Kryptonite.
Be a super hero for your employees and make sure superannuation payments are made on time!
Its back to school and back to work time!
Have your staff taken annual leave lately? Are your leave records up to date?
STP2 means you need to report leave payments separately from normal wages to the ATO too.
Need help? Ask a BAS agent (like us!) to help you manage your employee and payroll records.
From 1st July 2022 Fringe Benefits Tax (FBT) is not payable to the ATO on the private usage of zero or low emissions vehicles.
Ok great, but what does that mean.
Normally any personal usage of a company or work car will be subject to extra (FBT) tax to make sure tax is being paid on all benefits an employee receives that aren’t salary/wages.
As with everything, lots of fine print.
We’ve applied the magnifying glass for you.
Are you all over business record management?
ATO says:
As the business owner, you are accountable for understanding your record-keeping obligations. If you use a registered tax or BAS agent to manage your records, you still retain primary accountability.
We use apps to help our clients maintain good records, it is much safer than paper files.
Ready to ditch the filing cabinets? Get in contact today.
