Reliant Bookkeeping

Merry Christmas and Happy New year from Reliant Bookkeeping 🎄🎅🏻

Don’t forget the upcoming changes to the superannuation guarantee.

The SG rate will increase to 11% as of 1st July 📈

Double check that your payroll system updates.

As of Monday this week the new minimum wage will apply to the majority of all awards 🤓

❗ Don't forget - Minimum wage increases today!

💲 The Fair Work Ombudsman is reminding employers that the national minimum wage has increased today.

🔗 For the full breakdown visit - https://bit.ly/3uh1dI6

It’s that time of year again!!!
With EOFY just around corner here’s a quick EOFY checklist📚

✔️ Reconcile all bank accounts and clearing accounts to 30 June
✔️ Review your Creditors and Debtors and write off any bad debts
✔️ Check any amounts in suspense accounts
✔️ Make sure you have all your receipts
✔️ Reconcile payroll and superannuation accounts
✔️ Update your asset register if you have purchased new assets
✔️ Prepare and lodge BAS by 28 July
✔️ Pay superannuation guarantee amounts by 28 July
✔️ STP EOFY Finalisations needs to be sent to the ATO by 14 July
✔️ Lodge Taxable payments annual report by 28 August (if applicable)

Get ready for the upcoming changes to the superannuation guarantee as of 1st July. Don’t forget to check that your payroll system is updated.

1. The SG rate will increase to 10.5%
2. $450 per month threshold is being removed

👷 Building and construction
🚚 Delivery and road freight
🛡️ Security and surveillance

If you pay contractors to provide certain services, you may need to lodge a Taxable Payments Annual Report (TPAR). Our website has information to help you work out if you need to lodge, and see what you need to do before the 28 August deadline.

Visit www.ato.gov.au/TPAR for more info.

EOFY is just around corner, do you have everything ready to go for your accountant?

Here is Reliant Bookkeeping’s 📚End of year checklist📚

✔️ Reconcile all bank accounts and clearing accounts to 30 June
✔️ Review your Creditors and Debtors and write off any bad debts
✔️ Check any amounts in suspense accounts
✔️ Make sure you have all your receipts
✔️ Reconcile payroll and superannuation accounts
✔️ Update your asset register if you have purchased new assets
✔️ Prepare and lodge BAS by 28 July
✔️ Pay superannuation guarantee amounts by 28 July
✔️ STP EOFY Finalisations needs to be sent to the ATO by 14 July
✔️ Lodge Taxable payments annual report by 28 August (if applicable)

Reliant bookkeeping can help will any/all of these processes to get you up to date and compliant 🤓📚

The superannuation guarantee will increase to 10% on 1st July. Don’t forget to update your payroll system 📈

🌼Happy Mother’s Day🌸

Lest we forget 🇦🇺🇳🇿 ❤️