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As Year end fast approaches, we provide you with the DFK Benjamin King Money Winter Bulletin which contains some very important information for year end and beyond including: Claiming working from home costs using COVID-19 rate of 80 cents per hour Increase in superannuation guarantee rate to 10% Increase in superannuation concessional contributions to $27,500 Temporary full expenses of Depreciating Assets extended to 30 June 2022 A key dates checklist An article on cryptocurrency and tax How COVID-19 has changed…

As part of the Annual Wage Review for 2021, the Fair Work Commission (FWC) announced a 2.5% increase to the national minimum wage and award wages. This will occur in 3 different stages. The increase in annual wages applies to anybody who is paid minimum award wages or the national minimum wage. If you are covered by a registered agreement, (usually a contract between an employer and their employees regarding employment conditions), it is important you check if this increase…

Single Touch Payroll (STP), is an Australian Government initiative to reduce employers’ reporting burdens to government agencies. With STP, you report employees’ payroll information to us each time you pay them through STP-enabled software. Payroll information includes: Salaries and wages Pay as you go (PAYG) withholding Superannuation. STP started on 1 July 2018 for employers with 20 or more employees and 1 July 2019 for employers with 19 or fewer employees and is a mandatory obligation. If you haven’t started already started reporting your wages under…