Incoming Wage Theft Laws: Victorian Employers Warned.
employees
  • July 06, 2021

Incoming Wage Theft Laws: Victorian Employers Warned.

A warning has been issued to Victorian employers ahead of new wage theft laws coming into effect from 1 July

The new laws, which made Victoria the first state to criminalise wage theft announced last year, will see employers who withhold a range of entitlements face fines of up to $198,264 for individuals, $991,320 for companies and up to 10 years’ jail time.

Insurers Lose COVID Business Interruption Insurance Case
  • December 02, 2020
Insurers Lose COVID Business Interruption Insurance Case

The MB+M Business Services team brings you an update on Insurers Lose COVID Business Interruption Insurance Case, so SMEs affected by COVID could receive substantial payouts.

How to find the best business ideas for my business?
  • November 17, 2020
How to find the best business ideas for my business?

“It’s time for employers to implement updated tax tables by November 16, including payroll processes, so that tax cuts are applied” the ATO has said. The updated tax withholding schedules will then reflect the actual 2020–21 income year personal inclusive of retrospective tax cuts.

5 rules for managing small business cash flow
  • November 13, 2020
5 rules for managing small business cash flow

Every business wants a strong cashflow and good margins. Here are 5 rules for managing small business cash flow.

Here is a great video on importance of the breakeven point, cashflow and profitability by MB+M’s Adrienne Gledhill – Accountant Adviser

MYOB – Updated Tax Tables Are Available Now
  • November 04, 2020
MYOB – Updated Tax Tables Are Available Now

MB+M Compliance Team advise that MYOB updated tax tables available are now.  These new tables resulted from recent changes to personal income tax thresholds introduced by the Federal Government. In releasing the new tax tables the ATO has advised that these will apply from 13 October, 2020.

JobKeeper Extension Focus Areas Identified by ATO
  • October 30, 2020
JobKeeper Extension Focus Areas Identified by ATO

JobKeeper extension focus areas identified by ATO.  In the announcement the ATO stated it will keep a particularly close watch on businesses that have apparent irregularities in their GST turnover as well employers claiming the higher subsidy rate.

Employers to implement updated tax tables by November 16
  • October 19, 2020
Employers to implement updated tax tables by November 16

“It’s time for employers to implement updated tax tables by November 16, including payroll processes, so that tax cuts are applied” the ATO has said. The updated tax withholding schedules will then reflect the actual 2020–21 income year personal inclusive of retrospective tax cuts.

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