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Understanding Closely-Held Employees & Small Business STP Reporting
Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) mandates that all employers adhere to Single Touch Payroll (STP)...

National Minimum Wage Increase Effective From 1 July 2024
Starting 1 July 2024, the National Minimum Wage in Australia will increase by 3.75%. This adjustment is part of the ongoing efforts to ensure workers’ fair compensation and keep pace with living costs. NEW WAGE RATES With this increase, the new National Minimum Wage...

10 New Financial Year Resolutions For Your Business
As the new financial year begins in Australia, businesses have a fresh opportunity to set goals and strategies that can drive growth, improve efficiency, and enhance overall performance. Just as individuals make New Year’s resolutions, businesses can benefit from...

Business Diversification In The New Financial Year – Is It For You?
In the business world, “Don’t put all your eggs into one basket” is sage advice. But is it advice that’s suitable for you and your business? Diversification—expanding into new products, services, or markets—can reduce risk and open new revenue streams, enhancing...