Arabon Accountants

Arabon Accountants national minimum wage increase

Fair Work Commission announces 5.2% national minimum wage increase

The national minimum wage will increase to $812.60 per week, or $21.38 per hour, after a decision by the Fair Work Commission exceeds the government’s suggested 5.1% increase. The Commission decided to increase modern award minimum wages by 4.6% subject to a minimum increase for adult award classifications of $40 per week (full-time). The increase …

Fair Work Commission announces 5.2% national minimum wage increase Read More »

Arabon Accountants changes to superannuation

Two important changes to superannuation from 1 July 2022

Two important changes to superannuation will apply from 1 July 2022. As a business owner, it is important that you understand what these are, what they mean for your business and what actions you need to take. Super Guarantee rate will increase from 10% to 10.5% As a business owner, you usually need to pay …

Two important changes to superannuation from 1 July 2022 Read More »

Arabon Accountants top tips for tax time 2022

Top tax tips for businesses and individuals to prepare for your 2022 tax return

With the end of financial year only a month away, it is time to get your tax affairs in order and be aware of what opportunities may be available to maximise your tax deductions for the 2021-22 financial year.  In this article, we highlight some of our top tax tips for businesses and individuals to …

Top tax tips for businesses and individuals to prepare for your 2022 tax return Read More »

Arabon Accountants four key priorities for ATO this tax time

Four priorities for the ATO this tax time

The Australian Taxation Office (ATO) has announced its 2022 tax-time hit list.  The four priorities for the ATO this tax time are: Record-keeping Work-related expenses Rental property income and deductions Capital gains from crypto assets, property and shares ATO assistant commissioner Tim Loh said the ATO was targeting problem areas where it saw people making mistakes. …

Four priorities for the ATO this tax time Read More »

Arabon Accountants director penalty notice

Director Penalty Notices: what are they and what happens if you receive one?

While the ATO put most overdue tax collection on hold during the COVID-19 pandemic, it has recently recommenced some debt collection activity. This includes the issuing of Director Penalty Notices (DPN).  This article explores Director Penalty Notices and what happens if you receive one. Directors become personally liable for a penalty equal to the value …

Director Penalty Notices: what are they and what happens if you receive one? Read More »

Arabon Accountants small business grants open soon

Queensland Government round 3 small business grants – updated

The Department of Employment, Small Business and Training administers grants and programs to help Queensland small business continue to recover, grow and thrive by committing grant funds for businesses to increase key capabilities, embrace innovation and assist high-growth businesses to capitalise on opportunities.  Round 3 of the small business basics grants program opens on Wednesday 4 …

Queensland Government round 3 small business grants – updated Read More »

Arabon Accountants Easter 2022 public holidays penalty rates

Easter 2022: understanding all the retail trading rules

With the annual Easter holiday period this weekend, it brings with it a range of public holidays and trading restrictions across Australia.  Each Australian state and territory have different laws that govern public holidays and trading over Easter, so it’s important be informed about the rules and regulations where you do business. This article details the …

Easter 2022: understanding all the retail trading rules Read More »

Arabon Accountants Federal Budget

Australian Federal Budget 2022/23: the wins for small business

The Federal Treasurer Josh Frydenberg handed down the 2022–23 Federal Budget on 29 March 2022. In an economy emerging from the pandemic, the Treasurer confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23.  As international uncertainties add pressure on the cost of living, key measures in the budget …

Australian Federal Budget 2022/23: the wins for small business Read More »