October 21, 2022
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Authorise September quarter super payments NOW!
All super should be accrued at 10.5% of wages and the $450 p/m minimum wage threshold has been removed.
July-September super contributions must be received (by fund) by 28th October.
*Late payments of superannuation are not tax deductible and fines will apply.
Are you having trouble keeping all the info you need about your business in your head?
Too many to dos?
No idea what the team is up to?
They don’t know what they should do next?
Using an app to store info for you and your team can remove the information overload and to do list overwhelm, is your brain 🤯 ready for extra support?
Ask us to help you select apps to make life easier.
There are masses of free learning opportunities for small business owners – have you tried any? Don’t know where to start?
Bet it hasn’t exactly turned outs the way you first imagined it!
Well done for backing yourself.
What do you wish you had of known before you started out? What advice would you give a friend thinking of making the leap?
Are you thinking of making improvements to your home office?
Do you know what you can claim?
ATO says: If you operate some or all of your business from your home, you may be able to claim tax deductions for home-based business expenses
(check the fine print!)
You can only claim deductions for payments you make to your workers (employees or contractors) from 1 July 2019 where you have complied with the pay as you go (PAYG) withholding AND reporting obligations for that payment.
Any payments you make to a worker where you haven’t withheld or reported the PAYG amounts are called non-compliant payments.
If you don’t comply with your PAYG withholding and reporting obligations for a payment, you may:
– lose your deduction for that payment
– face existing penalties that apply for failure to withhold and report amounts under the PAYG withholding system.
The Optus debacle has reminded us that we need to do all we can do to protect the identity of our client and their staff.
The easiest place to start is not to send any sensitive info by email – if any part of the email chain gets hacked, that info could get into the wrong hands.
Sing out if you have any questions about how we can help you keep your employees top secret info out of the hands of baddies.
Better Business Partnership aims to help reduce energy and water bills of businesses in Sydney’s North Shore region.
Apply now
July-September super contributions need to be received by your employees’ fund no later than 28th October (don’t forget to allow for processing time).
Check your calculations to make sure all the new rules effective 1st July 2022 have been picked up before you make payment, so you don’t end up having to make a catchup payment (with heavy ATO penalties)
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