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How to Prepare Taxes for a Small Business

Small businesses play a huge role in the economy of Australia. According to the ATO ‘they make up more than 99% of all Australian businesses, contribute more than $413 billion to the economy and employ more than 5.5 million people’.

WorkCover Key Dates Reminder 2021/22

For those of you who have employees, here’s a friendly reminder of the key dates to submit your certified rateable remuneration to your WorkSafe agent.

Super Guarantee Rate Increased from 9.5% to 10%

On 1 July 2021, the super guarantee rate increased from 9.5% to 10%. The rate is scheduled to progressively increase to 12% by July 2025. Here is ATO’s table of scheduled rate increases.

Circuit Breaker Business Support Package

The Victorian Government recently announced the $250 million Circuit Breaker Business Support Package to assist small to medium businesses and sole traders that are unable to operate due to the recent lockdown.