Oh yay! More red tape for small business!
From 1st November 2021, stapled super kicks in.
Super funds will be stapled to employees as they move from job to job, so if they don’t complete a superchoice form, you’ll need to check for fund details with the ATO, rather than just add the new employee to your default fund.
Last chance to apply for either JobSaver or Micro Business Grant.
Applications close at midnight tonight 18th October
Super is due now for staff (including owners and their families)
July-Sept super contributions must be received (by fund) by 28th October.
Don’t forget to check that all super has been accrued at 10%.
Authorise payments right now as it can take several days to process.
Its crucial to look out for banking/invoice scams in the small business world.
Email hacking where invoices are intercepted and bank details are changed are becoming more common.
Update to Service NSW Small business fees and charges rebate announced – tolls to be added to the list of 500+ state and local government charges and fees that can be claimed, the cap will be raised from $1500 to $2000.
Here in NSW we will have more freedoms next week, so what do you need to organise this week?
If you’ve had to stand down staff – do you need to make sure they are ready to return to work?
Are staff still home schooling their kids and can’t return just yet?
Have you got everything organised for next week?
It’s time to start preparing your September BAS
If you’ve decided to DIY your BAS, there are 2 possible due dates:
– 28th October if you lodge using the pinkish paper form
– 12th November if you lodge online in the business portal
Using our BAS agent extension – the due date is 25th November
July-September super contributions must be received (by fund) by 28th October.
Ensure all pay runs are processed for the September quarter, before you attempt to make payment.
Closely held employees (owners and their families) will also need to be included.
Don’t forget minimum rates of super should be 10% of wages.
The Boosting Apprenticeship Commencements program will extend support into the second and third year of an eligible Australian Apprenticeship through the Completing Apprenticeship Commencements program.
Businesses receiving JobSaver support will need to reconfirm eligibility fortnightly and payment should be received within a week. You can only confirm at the end of the period, if you need time to get your accounts up to date, you can submit more than one declaration at a time.
