Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. What the RBA is really looking at when it sets interest rates Eight times a year, the Reserve Bank meets to decide whether to raise, hold or cut interest rates. The decision impacts the 3.2 million Australians who have a mortgage on their own home and has flow-on effects across the entire…  Read more

From 1 July 2022, two important super guarantee (SG) changes will apply to your business. These are the rate of SG is increasing from 10% to 10.5% the $450 per month eligibility threshold for when SG is paid is being removed.   What this means for you These changes mean that from 1 July 2022: you’ll need to make SG contributions at the new rate of 10.5% employees can be…  Read more

Did you come back to work and realised you have issues with Xero payroll? Well, there’s nothing wrong with the actual Xero payroll, but the ATO rules around salary sacrifice and superannuation have changed from 1 January 2020. Legislation changes from 1 January 2020 and how will Xero payroll cope From 1 January 2020, salary sacrificed super contributions can’t be used to reduce your super guarantee obligations, regardless of the amount…  Read more