In this Issue:
REMINDER: Get your receipts to us – remember to send your bank statements.
To ensure we can provide our best service and support, can you please complete the tasks that are relevant to you:
Please ensure the tasks are completed and you notify us it is ready before the “Tasks Due” date, to take advantage of our guarantee that your BAS will be completed on time.
We appreciate your support!
Be careful with bank account changes received via email, particularly PDF. Fraudsters have the ability to intercept an email, edit the email or PDF with different bank account details, then send it on to the recipient with the changed bank details. If you pay the invoice to the incorrect account, you most likely will not recover the money, and you will still owe the original amount to your supplier.
The best course of action is to phone and confirm the change in account details.
10% Super Guarantee (SG) Rate applies to all payroll “paid” on or after 1st July so Payroll Software setup will have to be changed before any pay is processed to ensure the 10% rate is applied properly.
Ensure that all payroll systems are up-to-date and comply with Single Touch Payroll (STP) & Superannuation requirements: these changes may not happen automatically.
For existing employees, employers, along with their Bookkeepers will be able to follow a simple process to manually update the SG amount.
Speak to your software provider about how this is set up buy generally you will find it via Payroll > Payroll Categories > Superannuation tab in most software.
GOOD RECORD KEEPING: A LEGAL REQUIREMENT:
Managing and protecting a business by good record keeping is vital. Keeping track of employees’ pay and entitlements is one of the obligatory responsibilities of employing staff. A business is required to keep records and issue payslips to all staff, including friends and family members
TO CHECK OUT SOME TRAINING WORKSHOPS TO MAKE SURE YOU'RE DOING THE RIGHT THING, CLICK > > > HERE.
Cybersecurity is the process of protecting and recovering computer systems, networks, devices, and programs from any type of cyber-attack.
TO TEST YOUR CYBER SECURITY, CLICK THIS LINK > > > HERE
MENTAL HEALTH COACHING FOR SMALL BUSINESS OWNERS:
Being a small business owner is a unique experience which can involve stress and pressure coming from many directions.
If you aren’t sleeping, struggling to concentrate, or are just feeling overwhelmed by day-to-day challenges, consider NewAccess for Small Business Owners.
TO LEARN MORE, CLICK THE LINK > > > HERE
From 1st September 2021, the price of Xero business edition plans will increase in Australia (with the exception of Starter and Payroll Only plans).
To find out more:>>>>> CLICK HERE
For now, AdminPro Solutions has put these workshops on hold. We apologize for any inconvenience and if you have any questions or problems, please feel free to call or email us, and we'll do our best to help you.
It has come to our attention that the ATO is becoming increasingly strict on employers paying their employee Superannuation on time. For every day the Super is overdue and you do not inform the ATO that you have NOT paid it, you will be charged interest.
So, it is important for you to make sure that all Super payments are paid on time, or at least to discuss this with the ATO, so that you don't get dealt a hefty interest charge.
If you are having trouble keeping on top of this, contact us and we might be able to work something out to help you.
The Annual Wage Review 2021, the Fair Work Commission has announced a 2.5% increase to minimum wages. This will also apply to all award wages, with the award increase happening in 3 different stages.
To read more about it, click HERE
I would like to clarify the GST treatment of food expenses for staff or clients. More often than not, GST is not able to be claimed on these expenses – see ATO link below. If you would like to claim GST on entertainment, it will then be classed as fringe benefits to the employee, in which case Fringe Benefits Tax needs to be calculated and applied to the employees’ income. If you would like to discuss the FBT option please let us know, otherwise we will change entertainment transactions to BAS Excluded to fall in line with ATO requirements.
All entertainment expenses are coded to an entertainment code. When determining your personal tax obligations, accountants vary in their treatment of entertainment expenses – some may claim it as business expenses, some determine it is not a business expense. In this case, the entertainment expenses will be nominated as owner drawings.
Kay is more than happy to have a discussion with you on this if you would like to know more or would like help to decide how to treat these transactions.
Please Click Here for more information.
CCIQ are calling for a COVID-19 Hotspot Recovery package to support small business in lockdown.
We’re calling for a dedicated COVID-19 Hotspot Recovery package, to ensure Queensland small business forced to close in the state’s third lockdown this year are able get back to business as soon as possible.
Affected businesses need payments of up to $25,000 to cover loss of stock and trade and support the reinstatement of business operations.
Do you support a COVID-19 Hotspot Recovery Package?
CLICK HERE TO HAVE YOUR SAY.
If you are wanting to know about any funding or grants that you may be eligible for, you can contact Vicki.
Vicki is the Entrepreneurship Facilitator, and she is here to help business with any problems they are having.
Ph: 1300 249 482
Effective from the first full pay on or after 20th November 2020 Fair Work Commission revised several (97) awards in relation to overtime payments, minimum engagement periods and conversion from casual to permanent employment.
Click this link to see these changes.
After receiving feedback from the profession about the issues that have arisen as a result of the change. As an interim approach, the ATO will issue paper PAYG and GST quarterly instalment notices starting with the June 2021 quarterly notices.
For more information on this, please click the link below.
If you're looking for more workshops, for links to help you if your business has been affected by COVID-19 or are just looking for other ways to help you with your business, click the link below.
It will take you to a page where you will have a number of links to choose from, depending on what you need.
This tool helps small business employers to make a basic employment contract that complies with workplace laws. Use it to create a contract for an employee under the national industrial relations system. You can use it for full-time, part-time and casual employees who are covered by an award.
Are your contact details and registrations with the ATO correct? Log into your MyGov account to ensure your physical location, postal and email addresses, and phone numbers, are up-to-date. You can also check your information with ASIC, this includes company directors etc.
Be sure to check that your bank account details are correct for refunds.