Black economy recommendations
Black economy recommendations will impact day-to-day business Recently issued draft legislation has focused on introducing new measures to manage the growing cash economy in light of the Black Economy Taskforce recommendations and recent Federal Budget announcements. Two of these key recommendations are outlined below. Removing tax deductions for PAYG failure The Government is currently considering […]
Superannuation guarantee amnesty
Superannuation guarantee amnesty introduced The Government has introduced legislation to complement the superannuation guarantee (‘SG’) integrity package already before Parliament by introducing a one‑off, twelve-month amnesty for historical underpayment of SG. The Bill incentivises employers to come forward and “do the right thing by their employees” by paying any unpaid superannuation in full, as well […]
Improving business performance
10 ways to improve business performance Here are ten ways to make sure that you operate with purpose, vision and courage. You can super-charge your business and improve the performance of it! 1. ELIMINATE DISTRACTIONS Time is the scarcest resource and biggest killer of most businesses. Owners get distracted and focus too much time and energy […]
Single Touch Payroll
Get ready for Single Touch Payroll Single Touch Payroll mandatory for ‘substantial employers’ (with 20+ employees) from 1 July 2018. All employers are required to count the number of employees on their payroll on 1 April 2018 to find out if they are a substantial employer (note that this can be done after 1 April, […]
Single Touch Payroll coming – be ready with Xero
1 July deadline to adopt STP fast approaching But if your business is on Xero, there’s some good news You may have extra time. Thanks to the ATO, Xero subscribers will have a deferral of as much as six months to ensure a smooth rollout of Single Touch Payroll (STP). Xero will be ready for […]
14 Key Performance Indicators that matter
Identifying what to watch 14 Key Performance Indicators that matter As a business owner, it is your responsibility to pay attention to every detail of the business. From employee satisfaction to growth indicators, you need to be on top of how your company is performing at every turn. That’s why 14 entrepreneurs from Young Entrepreneur Council (YEC) were […]
Super guarantee payable
Super guarantee payable on ‘public holidays’ and ‘additional hours’! The Federal Court has held that superannuation guarantee contributions were payable with respect to the ‘additional hours’ and ‘public holidays’ component of annualised salaries paid by BlueScope Steel, on the basis that these particular components formed part of ordinary time earnings (‘OTE’). Under an enterprise agreement, […]
Single Touch Payroll
It’s time to get ready for Single Touch Payroll From 1 July 2018, if you have 20 or more employees, you’ll need to use Single Touch Payroll-enabled software to report your tax and super information to the ATO. You’ll need to report the following on or before your payroll pay day: employee payments such as […]
Home For Dinner experience inspires Omnis team for more
Last Thursday the Omnis Group team exchanged their calculators for aprons and cooked for the Home For Dinner shift at Perth’s Ronald McDonald House. Home for Dinner invites teams of co-workers, friends and family members into Ronald McDonald House (RMH) to prepare a meal for the families staying there. RMH provides the kitchen and catering […]
ATO’s new look SBSCH here in February
On 26 February, the Small Business Superannuation Clearing House (SBSCH) service will join the ATO’s online services Business Portal. To manage the transition, the SBSCH will be unavailable from Tuesday, 20 February 2018 to Sunday, 25 February 2018 inclusive. During this time the ATO will be transferring your data across to the new system. Super contribution payments in […]
