Legislation has passed Federal Parliament greatly increasing penalties for employers who underpay employees. The Fair Work Amendment (Protecting Vulnerable Workers) Bill 2017 increases penalties for systematic underpayment of employees ten-fold and doubles penalties for record-keeping and payslip breaches. The Fair Work Ombudsman said that under the changes a court could impose higher penalties where an …
More than 60 per cent of small businesses in Australia fail during the first three years of establishment. Research has found that those initial three years are crucial in determining the fate of the business[1]. John Corias, senior partner, m.a.s accountants, shares his take on four top challenges small businesses face and how to overcome …
Challenges for small businesses and how to overcome them Read More »
As a business owner, managing your team may be the most impactful and challenging task you face. Particularly as businesses grow, owners find it increasingly difficult to communicate with every client, approve every purchase and dictate every practice. In fact, your primary role becomes communicating your vision to your team and holding them accountable as …
Bookkeepers have been encouraged to reach out and assist businesses in complying with basic record keeping and pay-slip laws as the Fair Work Ombudsman launches a national campaign targeting 1,000 businesses. As part of a new campaign to ensure employers are getting the basics right, the Fair Work Ombudsman (FWO) will be auditing 1,000 businesses …
Record keeping basics targeted in national crackdown Read More »
The government has introduced legislation that will allow the Tax Office to increase penalties on employers who fail to comply with their superannuation guarantee (SG) obligations. The bill, Treasury Laws Amendment (2018 Measures No.4) Bill 2018, was introduced in the House of Representatives today and gives the ATO access to new enforcement and collection provisions, …
Government increases penalties to combat SG non-compliance Read More »
As a busy professional, you likely have more than enough tasks to keep track of and complete. Besides that, you also have a life and responsibilities. Try improving your life in three different areas: self-care, productivity and physical health. Here are a few tips on how to reduce stress. Self-care 1. Be kind to yourself …
