The 3.0% increase applies to employees that get their pay rates from:

• the national minimum wage

• a modern award.

The national minimum wage applies to employees who aren’t covered by an award or agreement.

For employees covered by an award, award rates will increase by 3.0%. If you’re not sure which award applies, use Find my award.

If you’re covered by a registered agreement, you should check it to see whether this increase affects you.

The increase doesn’t affect employees who already get paid more than the new minimum wage.

Using the simplified depreciation rules, assets costing less than the relevant instant asset write-off threshold are written off in the year they are first used, or installed ready-for-use. This threshold applies to each asset irrespective of whether the asset is purchased new or second-hand.

There’s 3 significant dates to get your head around this financial year.

Confused about what to have or add on your tax invoices to clients?

What the Hell is Single Touch Payroll (STP)

When it comes to security, best-of-breed mandates are there to help protect us all. Xero recently let every accountant and bookkeeper across Australia know that Xero will start making two-step authentication (2SA) compulsory for all our small business customers. Today, the opt-in period began for subscribers and Payroll administrators across Australia and will be mandatory by September 11. By the end of this year, every customer with access to Xero in Australia will be required to take up 2SA – and we’ll let you know as it becomes mandatory across different groups.