February 2023 Newsletter

Contents:

  • Changes to the Australian Workplace Laws
  • Sick Pay Guarantee for Specified Occupations
  • Know Your Retail Leasing Obligations
  • Thousands of Aussies Eligible for $5,000 Cash Boost
  • Grants to Grow Your Business in 2023
  • 10 Common Mistakes Executors Make
  • Announcements

Changes to the Australian Workplace Laws

The Australian Government has passed the Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022. This legislation amends the Fair Work Act to change a number of existing rules and introduces a range of new workplace laws.

The new laws start on different dates. Read on for more information about the changes and when they start.

 

Sick Pay Guarantee for Specified Occupations

The Victorian Government has introduced a Sick Pay Guarantee Scheme for casual and self-employed workers in specified occupations. The scheme provides up to five days a year of sick or carer’s pay at the National Minimum Wage and is being funded by the Government for a two-year trial period.

Which occupations does the scheme cover?

 

Know Your Retail Leasing Obligations

The 2022 changes to the Retail Leases Regulations 2013 included updated disclosure statements that reflect the 2020 changes to the Retail Leases Act 2003 (the Act).

When starting or renewing a retail lease, landlords must give their tenants a disclosure statement that outlines essential lease information (such as the term of the lease, occupancy costs, fit-out requirements) so the tenant can understand the key elements of the lease.

Thousands of Aussies Eligible for $5,000 Cash Boost

Aussies who are moving from a regional or remote area to study at university could get a one-off cash payment up to $5,000.

The Tertiary Access Payment helps with the cost of moving for study after completing year 12. It could be to a university, TAFE or another private education provider.

 

Grants to Grow Your Business in 2023

Whether you are looking to grow your business or need support to navigate through challenging times, your business could benefit from the pool of programs covering business development, employment incentives, disaster relief, energy rebates, wellbeing assistance and more.

The following list is a guide. Many more initiatives are available, targeted at specific sectors and business needs.

 

10 Common Mistakes Executors Make

Being asked to serve as an Estate Executor is an honourable duty. After all, you were most likely chosen as being someone the testator had full confidence in.

When the time comes for you to administer an Estate, you’ll quickly realise the role isn’t for the faint of heart. As Executor, you have a legal responsibility to administer the Deceased Estate according to what is stated in the Will. 

 

Announcements:

This month we congratulate Richard (16 years) & Laurie (15 years) for bringing up work anniversaries.

We also wish a very happy birthday to Maree!

Richard Kemp

 

   

Situation Vacant: Accountant or Bookkeeper

We are currently seeking a highly motivated, enthusiastic and well organised person with accounting/bookkeeping skills to join our team. Whether you are a senior or junior accountant looking to further your career or a graduate or bookkeeper looking to get into the industry, an opportunity awaits for you now at Watts Price Accountants!
 
Watts Price Accountants offers:
  • Great variety of work
  • Flexible work arrangements
  • Plenty of client contact
  • Excellent workplace facilities
  • You’ll be working with great clients & team members
The ideal candidate will have:
  • Excellent communication skills.
  • Great attention to detail.
  • A great work ethic and time management along with the ability to multi-task.
  • Be able to work as part of a team toward common goals.
  • A willingness to go above and beyond for our clients.
  • Be competent in MS Outlook, Word & Excel.
A position description is available from our website or by phoning our office on (03) 5382 3001.
Applications can be emailed to – richardk@wattsprice.com.au  or forwarded to us at “Accountant Position”, PO Box 118, Horsham Vic 3402
 

Important ATO Dates

Lodgement Program  Date
January monthly activity statements 21/02/2023
Quarter 2 (October–December) activity statements 28/02/2023
Quarter 2 (October–December) GST instalment notices (forms S and T) 28/02/2023
Quarter 2 (October–December) PAYG instalment notices (forms R and T) 28/02/2023

Other News

Paid Family & Domestic Violence Leave

Full-time, part-time and casual employees will be able to access 10 days of paid family and domestic violence leave in a 12-month period. It won’t be pro-rated for part-time or casual employees.

The full 10-day leave entitlement will be available upfront. It won’t accumulate from year to year if it’s not used.

The leave will be available from:

  • 1 February 2023, for employees of non-small business employers (employers with 15 or more employees on 1 February 2023)
  • 1 August 2023, for employees of small business employers (employers with less than 15 employees on 1 February 2023).

From 1 February 2023, there are rules about information that must not be included on an employee’s pay slip relating to paid family and domestic violence leave.

Employees will continue to be entitled to 5 days of unpaid family and domestic violence leave until they can access the new paid entitlement.

The new leave will be independently reviewed after 12 months to consider the impacts on small businesses, sole traders and people experiencing family and domestic violence.

Click here to find out more


Single Touch Payroll 2

For clients using Xero, MYOB and Reckon bookkeeping software, the STP Phase 2 deferrals that were in place end 31/12/2022. However you do have until 31/03/2023 before you need to lodge your first STP 2 compliant report with the ATO. We recommend over the next few weeks that you check your software and follow the steps to get you STP 2 compliant. If you need any assistance please contact our office!

All the best from the Watts Price Team!