Payday Super is Coming: Steps your business needs to take
Payday Super is Coming: Steps your business needs to take 31 October 2024 Background In the 2023-24 Federal Budget, the Treasurer announced the launch of Payday Super, aimed at tackling unpaid superannuation and ensuring timely contributions. This initiative will take effect from 1 July 2026. Bear in mind the Superannuation Guarantee (SG) rate increases to 12% on 1 July 2025. Under the new legislation, superannuation contributions must be deposited into Superannuation Funds within 7 days of the payday. Considering the time required for bank transfers and clearing processes, employers will face a tight turnaround to meet the new requirements. There are a few exceptions to this rule: Contributions for ordinary time earnings (OTE) paid during the first 2 weeks of a [...]
Hall Chadwick Melbourne Recognised for AI Innovation: Wins PrimeGlobal AI Trail Blazer Award
Hall Chadwick Melbourne is thrilled to announce that we have been awarded the PrimeGlobal Artificial Intelligence (AI) Trail Blazer Award in the Asia Pacific region. The Award was presented at the PrimeGlobal Collaborate Asia Pacific, held this week in Hong Kong. The event was attended by member firms to exchange knowledge on specialised service lines and explore new business opportunities. The AI Trail Blazer Award honours the firm that demonstrates exceptional dedication to advancing artificial intelligence innovation and excellence. It also recognises inventive initiatives undertaken by member firms to integrate cutting-edge AI into their business operations, contributing to positive impacts on industries and a future that embraces advancements in artificial intelligence. The award entries were evaluated by a distinguished panel [...]
Australian Tax Rates & Tables 2024-25
Tax Rates & Tables 2024-25 We’ve created a quick reference guide for you containing the 2024-25 tax rates. Covering both individual and company tax rates, tax offsets, superannuation, depreciation and fringe benefits tax. This easy to print desktop guide is available to download and print. We’re ready to help. If have any questions about the Tax Rates, please contact our team on +61 3 9820 6400. Disclaimer: This is not advice. You should not act solely on the basis of the material contained in this post. These are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any [...]
Corporate Advisor Spring Edition 2024
In this issue of Corporate Advisor, we explain 14, financial-reporting, corporate-governance regulatory topics of crucial importance to CFOs and directors. 30 June reporting season is here, and there is much for all to absorb and act upon. ASIC’s focus areas are like prior years – impairment and asset values, provisions, events occurring after year-end and before completing financial reports, disclosures in the reports and operating and financial reviews. What gives them a different complexion is the current uncertain markets and economic conditions. We need to take a fresh look at what ASIC is telling us in new focus areas and enduring ones. Hall Chadwick team trust that the appendix ASIC ‘enduring’ focus areas for financial reporting will help preparers, audit committees, and directors. Under [...]
Superannuation Guarantee and Concessional Contribution Changes
Written by: Hall Chadwick Queensland Superannuation Guarantee (SG) As part of the Australian government’s long-term plan to ensure adequate retirement savings for employees, the SG rate has continued to rise. The most notable recent change occurred on 1 July 2024, when the SG rate increased from 11% to 11.5%. This increase is part of a phased plan to reach a 12% contribution rate by 1 July 2025. Employers Employers are legally obligated to adhere to the SG rates and ensure contributions are made on time. Key considerations include: Budgeting for Increased Contributions: The incremental rises in SG rates require careful financial planning to accommodate the additional costs. Payroll Adjustments: Employers must update their payroll systems to reflect the changes in [...]
Achieving Great Place to Work Re-certification
Hall Chadwick Melbourne is proud to announce our re-certification as a Great Place To Work! A big thank you to our dedicated team members for their contributions to our ongoing success and recognition. At Hall Chadwick Melbourne, we prioritise our team member’s growth and wellbeing. Here are some of the great benefits we offer: Continuous Learning: We invest in your professional development through ongoing learning opportunities. Recognition: Achievements are acknowledged and celebrated. Work-Life Balance: We support you in balancing your personal and professional commitments. Mentoring: Benefit from mentorship provided by our experienced managers and directors. Training Programs: Access both internal and external training sessions led by expert facilitators. National and International Opportunities: Explore real growth prospects through our extensive network. [...]