The (extended) Bottom Line of the Federal Budget 2021-22

Federal Budget 2021-22 Building a healthy recovery The October 2020 Budget was a stimulus Budget designed to soften the blow of COVID-19-related impacts for Australians. Now 6 months on and the report card is largely positive.  Economically we are in a much better position than the Government’s forecasts in October last year. The focus of the…

The Bottom Line of the Federal Budget 2021-22

Federal Budget 2021-22 The October 2020 Budget was a stimulus Budget designed to soften the blow of COVID-19-related impacts for Australians. Now 6 months on and the report card is largely positive. Economically we are in a much better position than the Government’s forecasts in October last year. The focus of the 2021-22 Federal Budget…

1 July 2019 super changes

Money Magazines, Susan Hely recently wrote about the new superannuation rules starting on 1 July 2019. She notes that the super changes, called Protecting Your Super, were set up to stop Australians’ super accounts from being eroded by insurance fees and premiums they don’t need. This is a great move for young people who were losing…

1 July Wage Increase

The Fair Work Commission has announced a 3.5% increase to minimum wages wef 1 Jul 2018. The changes apply to employees whose pay rates are determined by the national minimum wage, a modern award or a registered agreement . All your employee wages will thus be increased, and minimum wages rates applied.  If you are…

Single Touch Payroll

Single Touch Payroll (STP) is a reporting change for employers, by the ATO. It starts from 1 July 2018 for employers with 20 or more employees.  Single Touch Payroll will be expanded to include employers with 19 or less employees from 1 July 2019, but employers can opt in (register thru Xero/MYOB) before this date once fully implemented. You will report payments such as salaries…