Important February Updates
Important updates for businesses
This newsletter includes a range of information, including:
Removing the $450 per month threshold for super guarantee eligibility - 1st July 2022
New ID requirement for directors effective 1 November 2021
2022 Small Business Support Program
Pandemic Leave Disaster Payment
Insurance through Super
B&C Bookkeeping Services
ATO Tax Avoidance Taskforce
CFO Services - Gavin Hart
List of Service NSW Grants, Loans and Financial Assistance
Study and Training Support Loans
Removing the $450 per month threshold for super guarantee eligibility - 1st July 2022
On 11 May 2021, as part of the 2021–22 federal Budget, the Australian Government announced it will remove the $450 per month threshold to expand coverage of super guarantee to eligible employees regardless of their monthly pay.
Click the link below to learn more.
New ID requirement for directors effective 1 November 2021
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director ID.
When you must apply depends on when you were appointed as a director, for Directors of Companies the following schedule applies:
Existing directors have until 30 November 2022 to apply.
Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment.
From 5 April 2022, intending directors must apply before being appointed.
Visit the Australian Securities & Investments Commission (ASIC) website for more information:
2022 Small Business Support Program
If you’re a business, sole trader or not-for-profit organisation in NSW and you've been impacted by the Omicron wave of COVID-19, you may be eligible for a payment under the 2022 Small Business Support Program.
The program provides cash flow support to help eligible businesses survive the impacts of COVID-19 and maintain their NSW employee headcount.
Pandemic Leave Disaster Payment
Support if you can't earn an income because you or someone you’re caring for has to self-isolate or quarantine due to COVID-19.
Insurance through Super
Before consolidating your super accounts, check with your fund to see if there are fees or whether you will lose important insurance such as life, total and permanent disability, and income protection.
Click the link below for more information:
B&C Bookkeeping Services
We've been crunching numbers big and small for more than 100 years. Staying on top of your bookkeeping can be a real struggle that can cost your business time and money, we can help you save on both.
Speedy, reliable and professional bookkeeping, let us help you with:
Setting your company up with accounting and payroll software
Converting your business to new accounting software from previous software
Review & streamline current processes.
General administrative services
Assistance with Apprenticeship subsidy claims.
Software packages including Xero, MYOB, Reckon and Phoenix
Get in touch with the Bush & Campbell Professionals today!
ATO Tax Avoidance Taskforce
The Tax Avoidance Taskforce ensures multinational enterprises, large public and private businesses (and associated individuals) pay the right amount of tax in Australia.
Formed in 2016, it enhances and extends our existing activities to eradicate illegal and fraudulent tax arrangements. The task force bolsters our pre-existing efforts in tackling tax avoidance.
To see the Tax Avoidance Taskforce highlights 2020-21, click the link below:
CFO Services- Gavin Hart
Let us help you map a plan for success! Our CFO services are designed to go beyond compliance activities and establish an ongoing relationship where we work with you on your business. Having regular access to an experienced, trusted advisor can give you the tools and support you need on your financial journey.
We offer a range of services to suit your needs such as:
Virtual CFO
Management reporting
Business strategy
Pricing strategy
CapEx planning
Business development
Get in touch with us today to find out more:
