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From 1 February 2023 the family and domestic violence leave has become available for employees of non-small businesses (employers with 15+ employees) and from 1 August 2023 the same would be available to all including employees of small businesses (employers with less than 15 employees). All employees would be entitled to 10 days of paid family and domestic violence leave in a 12-month period. Employees including full-time, part-time and casual employees would be entitled to the leave and the leave won’t be pro-rated for casual and part-time employees. The 10 days of paid family and domestic leave would be available upfront and renews every year on each employee’s work anniversary. It…

The 2023 land tax thresholds are $969,000 (general) and $5,925,000 (premium). The surcharge land tax payable on residential land owned by foreign persons increases from 2% to 4% of the taxable value of the residential land owned at midnight on 31 December 2022. The discount for early payment of land tax reduces from 1.5% to 0.5%.

There are two kinds of people: 1. Those who hate Mondays with a passion as they don’t want to get over the weekend and start the grind of another week. This is the most of us. 2. Those who put those Monday blues aside and see every Monday as a fresh start to better themselves, their businesses or their finances and aim to do better than what they did last week or the week before.

There are two kinds of people: 1. Those who say “Thank God It’s Friday” as they just want not be at work and not think about work over the weekend. This is the most of us. 2. Those who feel proud of what they have been able to achieve over the 5 days and spend a few minutes to analyze what they have done right and wrong in the week just gone by and aim to improve on it all next week.

Stating the obvious but payment redirection scams are on the rise in Australia with small businesses being hit the hardest. Be careful when: – You receive an email from supplier about change in their bank details. – Buying from someone online you have not bought before, even when buying through reputable online platforms.

There is never a better time like a new financial year to reboot your business systems. Business owners I know have had a range of phrases to describe the 2022 financial year. From the worst to the best, from the most punishing to the most rewarding. Some have dropped service levels while others have multiplied sales. Whatever has happened in 2022 financial year is history now and it’s time for one and all to better our businesses and lives.

Super or superannuation guarantee contributions as its formally known as is going to increase to 10.5% from 1 July 2022. The rate was at 9.5% for 7 years to June 2021 and then 0.5% increase annually has been set till it reaches 12% on 1 July 2025.The increaments might seem minor (“just” 0.5% per year) but can make a substancial accumulative effect over long term for both employees and employers. Another change coming up from 1 July 2022 is the removal of the $450 superannuation guarantee threshold. Under current legislation a business doesnt have to pay an employee’s superannuation until the employee breaches the $450 earning threshold in a month.…

Heard about the Small Business Technology Investment Boost and Small Business Skills and Training Boost that would allow your business a 120% deduction for amount spent on training and technology costs? It made for a good headline and it is also true. It was announced as a small business support in March 2022 as part of the 2022-23 federal budget. It is just that till now, an announcement and not yet law and the deicision on weather it becomes law or not would be made by the government. So dont go rushing out spending expecting massive tax benefits because even if passed you get the usual benefits in the 2022…

It’s great to get information and ideas while networking with professionals and socialising with friends and family… Don’t forget to fact check them before you start implementing them. Not everything is suitable to everyone’s situation and some of it may just be exaggeration.

We don’t want to increase prices as it might drive customers away… We don’t want to let go of a team member because it would cripple the business… We must buy a house now as we might not be able to get something in the future… We can’t start a business because if we fail then it would be fatal to our financial situation for this life… These any many other decisions based on fear are often made by all of us on a daily basis that do not do any good to ourselves personally… Forget the fear and take it out of equation. Think of the opportunity to change…