Stay Informed & Focused! Focus Accounting And Financial Group News

5 year provision to carry forward unused concessional superannuation contributions

If you don’t contribute up to the concessional contributions cap amount in a financial year, you can carry forward the shortfall to contribute in up to the next five financial years, on top of the $25,000 cap for each of those years. read more

What does Victoria’s new Labour Hire Licensing Scheme mean for businesses in Australia?

The legislation affects individuals and/or entities that make arrangements to hire or host labour hire from Victoria. Labour hire providers are now required to obtain a license and must lodge annual reports on their labour hire activities. read more

Single Touch Payroll (STP) reporting now updated and for all employers

Now legislation has been passed so that businesses with up to 19 employees are legally required to complete STP reporting from 1 July 2019. The new legislation also extends the scope of STP reporting to include some salary sacrificed amounts. read more

Interim financial reports are only for big businesses. Right or wrong?

Financial reports are the gateway between what's just been happening in your business and what you should be doing right now, so the more current the report the better you can understand how to keep your business on course to your destination. read more

PPSR anniversary coming up: Retain your security interests by renewing registrations

The seven year anniversary is important because this is when the first lot of PPSR registrations will start to expire. The default and cheapest option for a PPSR registration covers seven years or less. For some items the maximum timeframe you can register for is seven years. read more

December 2018 update to the National Employment Standards (NES)

The Fair Work Amendment (Family and Domestic Violence Leave) Bill 2018 provides an update to the National Employment Standards. This change is effective from 12 December 2018. So what are the National Employment Standards now? The National Employment Standards (NES) define the ten minimum employee entitlements in Australia. They cannot be excluded or reduced under any contract, award or agreement. read more