Category: blog

Back to Blog Contents Factor1 now a Xero Gold Champion Partner We are super excited to let everyone know that we are now a Xero Gold Champion Partner. Factor1 reached this huge milestone just before the outbreak of the health crisis, but it was not the right time to celebrate.Moving into the new financial year,… Continue reading Factor1 now a Xero Gold Champion Partner

Back to Blog Contents New Rules for Salary Sacrificing Super Salary sacrificing to super allows an employee to forego part of their salary or wages and have the employer contribute this amount to their superannuation fund instead of paying it as cash. It reduces the taxable value of salary or wages, and is therefore beneficial… Continue reading New Rules for Salary Sacrificing Super

Back to Blog Contents JobKeeper and Xero Payroll: How they’ll make it simpler for you Xero Payroll will be enhanced this month to make processing JobKeeper payments simpler Due to the COVID-19 pandemic, legislation was passed by the Australian Government on 8 April 2020 for the JobKeeper Payment. With this, it’s been reported around 6… Continue reading JobKeeper and Xero Payroll: How they’ll make it simpler for you

Back to Blog Contents JobKeeper Payment latest details Updated 14th April 2020 Due to the COVID-19 pandemic, legislation was passed by the Australian Government on 8 April 2020 for the $130 billion JobKeeper Payment scheme. With this, it’s been reported around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their… Continue reading JobKeeper Payment latest details

Back to Blog Contents JobKeeper employee nomination & key dates Attention all employers who plan or anticipate they will claim the Job Keeper Payments. Please provide the attached nomination form to all employees for them to complete as soon as possible. We suggest making it clear to your employees that this does not guarantee your… Continue reading JobKeeper employee nomination & key dates

Back to Blog Contents JobKeeper Payment FAQs A friendly reminder to register for JobKeeper by 30 April 2020.   Here are over 50 Frequently Asked Questions to help. Q: As an employer, do I have to register for the JobKeeper payment? If you would like to receive this subsidy, then YES, eligible employers must elect to… Continue reading JobKeeper Payment FAQs

Back to Blog Contents JobKeeper Enrolment Extension Great News! The Commissioner has extended the time to enrol for the initial JobKeeper periods from 30th April 2020 until 31st May 2020. Under this extension, if you enrol by the 31st May, you can still claim for the fortnights in April, and May provided they meet all the… Continue reading JobKeeper Enrolment Extension

Back to Blog Contents JobKeeper Reporting now on Business Portal If you have intended to apply for the JobKeeper Payment subsidy, you can now complete the reporting via the Business Portal. You will need to login to the portal using your myGovID, then click the “View” button within the COVID-19 screen. Alternatively, Factor1 can help… Continue reading JobKeeper Reporting now on Business Portal

Back to Blog Contents VIC Grant now opened to more businesses The Vic Government has announced that the criteria will be expanded We are anticipating there will be a lot of interest in this, so act now! The Business Support Fund was established to support small businesses in the hardest-hit sectors from the impacts of… Continue reading VIC Grant now opened to more businesses

Back to Blog Contents Revive & Thrive with COSBOA’s $10K Small Business Relief Fund Applications to apply open on Monday 25th May! If your business operates through a company with between 2 and 50 employees, read on. The Council of Small Business Organisations Australia (COSBOA) is offering grants of $10,000 (including GST) to sixty-seven (67)… Continue reading Revive & Thrive with COSBOA’s $10K Small Business Relief Fund