Category Bookkeeping Tips

Contribution Caps are Increasing

From 1 July 2021, the caps for concessional (pre-tax) and non-concessional (post-tax) contributions will be indexed. Any amount contributed in excess of these caps may be subject to additional tax. In 2020-21 the concessional contribution cap was $25,000, this will be increasing to $27,500 in…

Super and Employee Flexibility

Changes for Employee Superannuation Options From the 1st of January 2021 the law relating to employees and their choice of superannuation fund has changed. New workplace determinations and enterprise agreements made on or after this date must now offer employees…

SME Recovery Loan Scheme

The New SME Recovery Loan Scheme will Begin as of 1st April 2021 through to 31st December 2021.With the first federal government’s SME Loan Guarantee Scheme helping over 35,000 expanding the scheme aims to support more businesses affected by the pandemic…

Selecting a Payment Gateway

At some point, any small business owner that wants to set up and manage their own online payments would have to select a payment gateway. However, many small business owners do not know what a payment gateway is or why…

Casual Overtime and Minimum Requirements

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.These changes are (some may already apply…