LRBA’s to go?

LRBA’s to go? Labour says so according to the Shadow Treasurer Chris Bowen. Missing from the statement is how this and all the other proposed changes  to super are going to further limit one’s ability to provide for one’s own retirement. It flies in the face off all initiatives made between 1983 and 2006 –

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Cash flow troubles

  Xero has just released its big data cash flow analysis of it users from January. Xero in its Small Business Insights has reported that 50.12% of its users were cash flow positive in January. This means that just on every second business consumed more cash than came in during that month.  And that is

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Your will and passwords

Your will becomes a public document once probate is granted.  One can search on probates that have been granted. It is therefore not the place to record usernames and passwords. Please contact us if you would like the solution which we provide to our clients.

Single Touch Payroll exemptions

Single Touch Payroll has now been legislated to apply to all employers from July 2019. So from 1st July, 2019, all employers must notify the Tax Office of every employees gross pay, tax and super at the time of payment. Some exemptions and deferrals have been granted. However, you shouldn’t need them.  The main accounting

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STP – now law!

Single Touch Payroll has now been legislated for all employers.  From July 2019, even the smallest of employers will have to report wage payments (inc super) to the ATO at the time of payment. Whilst there will be some extensions, the time to start planning and preparing is now.  We can help you with this.

National Employment Standards

It is a compulsory requirement to have issued all employees with the Fair Work Information Statement That Statement includes the National Employment Standards. You can access that document at:- https://www.fairwork.gov.au/employee-entitlements/national-employment-standards And please remember to:- Keep evidential records that you have given the statement to each employee, and Give one to yourself!  

Employment – ATO & unpaid super

The ATO is getting serious about unpaid employee SG super. Legislation passed last week means employers can be forced to attend educational courses and even be jailed. The ATO will also have the power to issue what are called Director Penalty Notices (DPNS).  DPNs make unpaid SG super a personal liability of a director. The

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Who will get your super?

Who will get your super?  Unfortunately, that is a question that many fail to address. Having a will does not resolve this issue. A will dictates what happens to your personal assets.  As super is held in trust, your will cannot dictate where your super will go. In order to set out to whom you

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Cash flow – get paid quicker

Cash flow.  If you want to get paid faster make it easier for your customers. Provide your customers with a link on an invoice to pay via a payment gateway. There are many of them such as Paypal, Square and Stripe.  Ask us which is the best solution one for you. Will these solutions cost

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WorkCover – avoid a fine

WorkCover requires that the If you are injured at work poster in each workplace. You can download the poster at https://tinyurl.com/ychzvxdw