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The Macro Group Awarded Member Firm of the Year 2023

We have big news… The Macro Group are excited to announce that we have been awarded GGI Member Firm of the Year 2023! The award was accepted by Nicole Bryant, Managing Director, in Lisbon, Portugal this October amongst a group of peers from across the world.

New Tax Incentives for Small & Medium-Sized Businesses – Action Required by 30 June 2023

Last week, two new tax incentives were passed into law which will benefit small and medium-sized businesses. 1. The Skills & Training Boost - from 30 March 2022 to 30 June 2024. 2. The Technology Investment Boost - 30 March 2023 to 30 June 2023. These measures will assist small and medium-sized businesses to recover some of their investment costs in digital technology and upskilling employees.

The Payroll Tax Issue for Medical Practices in Qld just took an unfortunate turn

On 19 September 2023 the QLD Revenue Office issued additional guidance on relevant contracts for medical centres.

Important Industrial Relations Legislation Introduced – A Must Read for ALL Employers

Far reaching legislation called the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023 recently was presented into Federal Parliament. If passed, it may significantly impact how you interact with your employees.

The Countdown to 30 June – Items to Prioritise

Ahead of 30 June 2023, it is important that certain items are prioritised to ensure that you or your business is prepared for a smooth tax time for the 2022-2023 financial year.

Wage and Superannuation Increase on 1 July

The Fair Work Commission last week handed down its annual wage review decision. The Commission has decided to increase the minimum wage in all modern awards by 5.75%. These increases will take effect from the first full pay period commencing on or after 1 July 2023.

Federal Budget 2023-2024

Last night, the Treasurer delivered the federal budget for 2023-2024, announcing a budget surplus for the first time in 15 years. On the face of it, the budget was full of discrete measures targeted to assist those in society deemed most in need of help. However, we have delved deeper into the details of the budget and discovered that there is still more good news than bad news out of this budget for small and medium business owners and associated families. We have summarised below our view of the top things our Macro clients need to know.

10 Interest rate rises, High Inflation

Last week we saw the Reserve Bank announce a 10th interest rate rise since the low in November 2020.  For many mortgage holders on fixed rates, the impact may not yet be felt.  However, we have crunched the numbers and report below the estimated interest expense increase, based on rates we can see in the market. Here are the top 5 things to action today.

How do the announced superannuation changes affect me?… we have crunched the numbers.

Understanding the Fuss About Queensland Payroll Tax and Medical Centres

Last month, significant media coverage was dedicated to medical operators in Queensland now being subject to Queensland payroll tax on the patient fees remitted to practitioners who practice in the medical centres run by those operators. Even if a medical centre only provides administrative services to practitioners (under service agreements), payroll tax may still apply if the medical centre exercises administrative or operational control over the practitioners’ operations.

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South Brisbane QLD 4101

+61 7 3844 5555

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Byron Bay NSW 2481

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