The Treasurer last night unveiled the Federal Budget for 2025-2026. Here's a snapshot of some key points.
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.
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.
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.
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.
All directors appointed on or before 31 October 2021 are required to apply for a Director ID by 30 November 2022 and if you fail to meet this deadline, you may be subject to a $13,200 penalty.
Good news for Queensland residents with interstate properties: the new land tax policy has been discarded. Read on to find out more about your land tax liability.
October's Federal Budget revealed several key economic factors which will impact every business in Australia. Read on to find out how to navigate your business in the forecasted economic climate.
Calling all directors! All company directors appointed on or before 31 October 2021 are required to apply for their director ID by 30 November 2022. With this deadline approaching fast, it is important that you are familiar with how to apply.
STP Phase 2 is underway, with both Stage 1 and Stage 2 changes available on select digital service providers. Today we breakdown how to implement the Stage 1 and Stage 2 changes in your payroll software.