Arnold & Finlay Blog

Employer Super from 1 July 2022

Increase in Super Guarantee Rate

From 1 July, employer superannuation increases from 10% (for 2021/22) to 10.5% (for 2022/23). Read more…

Uncertainty Impacts Customer Behaviour

Behavioural science is about simplicity of application, not only doing what you usually do but also doing it better.  It has even changed Economics, which always assumed the response of a 'reasonable man', who often acted in a way entirely unexpected.  By combining economics and psychology we hope to better understand how and why people behave in the real world, and perhaps predict with more certainty how they may react. Read more…

Independent Contracting (Again!)

The High Court has delivered two judgements that can be expected to have a major influence on independent contracting in the future.  There were two cases.  Jamsek and Personnel Contracting. Read more…

Why Does My Business Have No Money?

'What are we doing wrong?'

This is a common question but it might not be that you're doing anything wrong, the issue may be due to a combination of factors.  Read more…

Avoid Underpayment of Wages!

Even the big companies get pays wrong – CBA, Bunnings, Woolworths, 7 Eleven.  Not only did it cost those companies money, there was a loss of reputation plus significant costs of rectification.  In Queensland, 'wage theft' is now a criminal offence (for intentionally failing to pay or underpay employees). Read more…

Avoid Errors in Employees vs Contractors

The Current Tax Landscape

The ATO and State Revenues are now far better at identifying and pursuing non-compliant employers.  Knowing the  difference is important because it impacts Tax Withholding, Superannuation, Fringe Benefits Tax, WorkCover, Payroll Tax and Pay Awards. Read more…

Single Touch Payroll from 1 July 2021

For those of you keeping count, we made a mistake!

We advised in a Blog this week that STP had been deferred to 1/1/2022.  Unfortunately, that is not correct, it is only the additional reporting that has been deferred to January next year. Read more…

Budget 2021-22

This Budget is a balancing act between a far-less than expected deficit, prospects of an early election (November?), and the need to invest to be able to compete in the world over the long term.  It is interesting that the Treasurer assumes international travel and migration will remain low to mid-2022. Read more…

New Small Business Grants

The Qld Government has three new small business grants, worth $25m over two years. Read more…

Tax Deduction Opportunities with Super in 2021

Superannuation will become an important source of your income on retirement.  That's one reason why it is a good idea to add to super while you are working.  Of course, the benefit now is tax savings. Read more…

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