Super Guarantee rate 11%
Employee Super Increase to 10.5%
From 1 July 2022, two important super guarantee changes will apply to your business. Whats’ changed The rate of Super Guarantee is increasing from 10% to 10.5%The $450 per month eligibility threshold for when Super must be paid is being removed. What this means for you These changes mean that from 1 July 2022 you’ll need to make Super contributions …
Employee Super is Now 10%
Attention Employers: The Superannuation Guarantee rate increased from 9.5% to 10% on 1 July 2021. It is scheduled to increase to 12% by 2025. If you are a Small Business Owner that needs help with your Payroll, PAYGW Tax and Super obligations, Beck Partners can help you. Find Out More Find out more about Beck Partners , Who We Are and What We Do at our …
Minimum wage increase 1 July 2021
The Fair Work Ombudsman is reminding employers that the national minimum wage has increased to $20.33 per hour or $772.60 per week (up from $19.84 and $753.80). Employees covered by awards will also have base rates increased by 2.5%, however, these increases to award wages begin on different dates for different groups of awards. Find Out More Find out more about Beck Partners , Who …
What Tax Deductions Can I Claim?
Tax Deductions you can claim There are 3 things you need to claim a work-related deduction: 1. You must have spent the money yourself and weren’t reimbursed; 2. It must be directly related to earning your income; and 3. You must have a record to prove it. The ATO allows you to claim up to $300 for work related expenses …
Employee or Contractor ?
The Undercover Employee The Tax Office’s ongoing compliance efforts have some constant focus. One of these is the often flawed characterisation of an employee as a contractor by businesses. Characterisation is fraught with elements of complexity. For instance, entitlement to annual leave, sick leave and other benefits may arise. An employer’s liability to work cover and payroll tax in …