What will Australia look like 40 years from now?
The 2023 Australian Intergenerational Report provides a 40-year projection of the outlook of the economy and the Government’s budget to 2062–63. The report forecasts structural trends that will give current generations an insight and encouragement about what we need to be doing now to successfully navigate the future. The report links the continued growth and prosperity of […]
ATO updated tax return rules for EOFY
The ATO has made a number of changes to tax return rules for FY19/20 making this year’s tax return easier, particularly for Australians impacted by coronavirus and bushfires. The tax office is expecting a marked increase in people claiming deductions for working from home or for protective items used for work. We know many of […]
What did I miss? 1 July changes.
The tax changes apply from July 1, 2017.
Fair Work Commission announces 5.2% national minimum wage increase
The national minimum wage will increase to $812.60 per week, or $21.38 per hour, after a decision by the Fair Work Commission exceeds the government’s suggested 5.1% increase. The Commission decided to increase modern award minimum wages by 4.6% subject to a minimum increase for adult award classifications of $40 per week (full-time). The increase […]
How will the government’s asset write-off scheme work?
It’s one of the most significant initiatives for businesses in the 2020/21 federal budget, so how will the significant $27 billion asset write-off scheme work in practice? In this month’s budget, the Treasurer announced that almost all Australian businesses will be able to write-off the full value of all new assets purchased over the next […]
Director Penalty Notices: what are they and what happens if you receive one?
While the ATO put most overdue tax collection on hold during the COVID-19 pandemic, it has recently recommenced some debt collection activity. This includes the issuing of Director Penalty Notices (DPN). This article explores Director Penalty Notices and what happens if you receive one. Directors become personally liable for a penalty equal to the value […]
New Year resolutions for small businesses
As New Year resolution time rolls around, spare a thought for your business, because every business can benefit from a few resolutions of its own. Here are a few ideas that any business can build some New Year resolutions around. Make sure you have an up to date business plan. Many business plans sit gathering […]
Federal Budget 2021/22: What are the wins for SMEs?
Treasurer Josh Frydenberg has delivered a free spending budget designed to drive employment growth, while also allocating increased funding to social programs such as disability services, aged care and mental health, as well as women’s economic security. Included also is the extension of support to taxpayers through the retention of the low and middle-income tax […]
The Success Story of Business 360
With over 30 years’ experience, Business 360 Workplace Consultants co-founders David Reid and Darrin Drew are committed to providing a professional and high-quality Workplace Relations and Health & Safety support systems.
Modern award changes and annualised salary arrangements
Following a decision of the Full Bench, the Fair Work Commission has finalised arrangements for modern award changes including the insertion of new annualised salary clauses into several modern awards with effect from 1 March 2020. These changes introduce important new practices for HR and payroll aimed at reducing “wage theft” and non-compliance with awards. […]