Make sure you and your business are prepared for the year ahead. Find out the important financial dates for 2022. Keeping on top of due dates can help you keep your business running smoothly. Take note of the most important financial dates for 2022 to plan for the year ahead and avoid any unnecessary penalties. End of financial year (EOFY) The end of the financial year is an important time for your small business. The last day of the financial year falls on 30 June each year. You'll need to complete bookkeeping, tax returns and plan for the new financial year. Learn how to prepare for the EOFY to get your business organised and work smarter in the year ahead. Tax returns At the end of a financial year, you must lodge your tax returns with the Australian Taxation Office (ATO). If you don’t lodge your tax return through a registered tax agent, you must submit your returns by 31 October. If you're using a tax agent for the first time, or using a different tax agent, you need to contact them before 31 October. Business activity statements (BAS) Business activity statements are used to report and pay different taxation obligations for your business including: goods and services tax (GST) pay as you go withholding (PAYG withholding) – if you have employees pay as you go instalments (PAYG instalments). Most small businesses lodge their BAS and pay any amount owing (or get a refund) quarterly. Quarter 1 (July, August and September) – 28 October Quarter 2 (October, November and December) – 28 February Quarter 3 (January, February and March) – 28 April Quarter 4 (April, May and June) – 28 July Superannuation If you're required to pay super for your employees or workers, you must pay super contributions to their nominated super fund by the following dates. It is important to meet these deadlines, otherwise you may face a super guarantee charge. Quarter 1 (July, August, and September) – 28 October Quarter 2 (October, November and December) – 28 January Quarter 3 (January, February and March) – 28 April Quarter 4 (April, May and June) – 28 July When a super due date falls on a weekend or public holiday, you can make the payment on the next business day. Explore important due dates by month. For more information visit www.business.gov.au
Pandemic Leave Disaster Payment This program provides workers with a payment if they cannot earn an income because they have to self-isolate, quarantine or care for someone with COVID-19. Open Application detail: Apply at any time. What do you get?A lump sum payment of $1500 for each 14 day isolation period. Who is this for?People who need to self-isolate, quarantine or care for someone with COVID-19. Overview Pandemic Leave Disaster Payment is a lump sum payment to help you during the 14 days you need to self-isolate, quarantine or care for someone.The Pandemic Leave Disaster Payment is for people who can't earn an income because they must self-isolate, quarantine or care for someone who has COVID-19. What are the eligibility criteria? You may be eligible if a health official has told you to self-isolate or quarantine because you: have coronavirus (COVID-19) are a close contact of a person with COVID-19 are caring for a child, 16 years or under, who has COVID-19 are caring for a child, 16 years or under, who’s a close contact of a person with COVID-19. You may also be eligible if you're caring for someone who has COVID-19.You must also meet all of the following: you’re at least 17 years old you’re an Australian resident or hold a visa that gives you the right to work in Australia you're unable to go to work and earn an income you have no sick leave entitlements, including pandemic sick leave, personal leave or leave to care for another person. You won’t be eligible if you receive: income, earnings or salary from paid work any income support payments, ABSTUDY Living Allowance, Parental Leave Pay or Dad and Partner Pay. How do you apply? You can claim over the phone with Services Australia. You must make a new claim for each 14-day period of self-isolation or quarantine that you are required to serve.Find out more about eligibility and how to apply on the Services Australia website. For more information visit www.business.gov.au
Navii can provide tailored advice to help your business take the next step to go digital. Do you want to increase your productivity, reach a larger audience and grow your business online? Navii can help you! What is Navii?Navii provides independent, tailored advice and support to Australian small business owners through digital tools and knowledge to increase profits and help save time in their business.The Navii team is made up of passionate small business enthusiasts and digital coaches who aim to: help small businesses navigate the vast web of information about using digital in business provide trusted advice and tested technology solutions that help businesses drive their growth and productivity guide small businesses on their next steps in going digital. How does Navii support small businesses? Free resourcesNavii offers free resources, including: the Next Best Steps 5 Day Challenge small business case studies and stories of success blog articles with advice and news a list of vetted third-party resources. Private consultationsYou can purchase a 1 hour private consultation with a Navii experienced coach to help you make the right choice for your business and your situation.Digital health checksA digital health check will provide a detailed assessment of your business’s online presence by reviewing your website and social media profiles.Online coursesNavii has online courses on a broad range of digital topics. With an online course, you’ll receive: video lessons real examples written guides downloadable templates worksheets. Industry training and development programsNavii has worked with regional councils, state governments and industry groups to design training and development programs for groups of businesses. Each program is tailored to your business’ region and industry. For more information visit www.business.gov.au
It's that time of year again. Find out where you can get small business support at tax time, how to record JobKeeper payments at tax time, occupation guides to help you and how to plan your new financial year goal. Small business tax time toolkitThe Australian Taxation Office (ATO) tax time toolkit for small business has fact sheets to help you with: home-based business expenses motor vehicle expenses travel expenses using your company's money or assets pausing or permanently closing your business. Recording JobKeeper payments at tax timeDid you know that JobKeeper payments are taxable? If you’ve received any JobKeeper payments this financial year, you’ll need to include them in your 2020–21 income tax return. Your accounting method will also affect the total JobKeeper payments that need to be included in your tax return. JobKeeper information for sole tradersAre you a sole trader who has received JobKeeper payments for yourself and any eligible employees this financial year? From early July, you’ll be able to access the total amount of JobKeeper payments you’ve received through Online services for business, myTax or your registered tax agent. The amount will be provided as ‘information only’ and will not be mapped to a label. Make record keeping your new financial year goalWhat worked well for your record keeping this past financial year? Is there anything you’d like to do better? You can claim the cost of record-keeping software as a deduction, so it could be something to consider before the end of financial year to set yourself up for the year ahead. For more information visit www.business.gov.au
Find out about changes to the Franchising Code of Conduct.Australia’s franchise sector makes a major contribution to the economy. The sector is worth $154 billion dollars a year with over 1200 brands and over 90,000 franchisee small and family businesses.Amendments have been introduced to the Franchising Code of Conduct (the Code) to protect small and family businesses in the franchising sector. Why is the Franchising Code of Conduct being amended?The Franchising Code of Conduct is a mandatory industry code across Australia that regulates the conduct of franchising participants towards each other.The purpose of the Competition and Consumer (Industry Codes—Franchising) Amendment (Fairness in Franchising) Regulations 2021 (the Code amendments) is to improve the fairness and transparency of the franchising sector.The Code amendments improve the current Franchising Code of Conduct to address both the franchising sector in general and changes for new vehicle dealership agreements.The amendments will: improve access to information for franchisees and prospective franchisees better balance the rights of franchisors and franchisees improve access to justice though additional, more efficient dispute resolution processes. What are the Franchising Code amendments?Franchisees and prospective franchisees will benefit from: improvements to pre-entry disclosure requirements including: introduction of a new key facts sheet which must be completed by the franchisor and provided to prospective franchisees, along with other disclosure documents to help a franchisee to make an initial assessment about a franchise offer an updated information statement that must be given to anyone who expresses interest in buying a franchise to help consider the risks and opportunities associated with franchising improvements to the scope of financial disclosure, including requiring additional information relating to goodwill more specific disclosure relating to supplier rebates. extra dispute resolution options a longer cooling-off period of 14 days, and new cooling-off rights for transfers a prohibition on franchisors passing on certain legal costs a prohibition on franchisors retrospectively and unilaterally varying franchisee agreements. Protections for new vehicle dealership agreementsThe Code amendments also make specific changes targeted for new vehicle dealership agreements. These changes include expanding the definition of motor vehicle dealership to recognise agency models, and provisions for fair and reasonable compensation for franchisees in the event of early termination. When will they come into effect?Improved dispute resolution options will be available to any dispute that is notified on or after 2 June 2021. The majority of the other reforms will come into effect on 1 July 2021 and apply to agreements entered into, renewed, or extended on or after this date.Amendments which require a franchisor to change the disclosure document have a longer transition period and will apply from 1 November 2021. Next stepsThe Government has committed to significantly increase penalties for breaches of the Code. Legislation is currently before the parliament.A new Franchise Disclosure Registry is being developed which will assist prospective franchisees to make an informed decision before entering a franchise agreement. The Registry will come into effect in 2022. If you would like to be part of the industry consultation process on the Registry, email [email protected] Government plans to release an automotive franchising discussion paper shortly. For more information visit www.business.gov.au
We have updated our information to make it easier for franchisors and franchisees, including prospective franchisors and franchisees, to access information and support. Are you interested in buying a franchise? Or maybe you’re a current franchisee looking for more information on your legal obligations or help resolving a dispute? Following the Parliamentary Joint Committee on Corporations and Financial Services ‘Fairness in Franchising’ report, we have expanded our online support and resources to help you understand the risks and benefits of franchising and help you meet your legal obligations. The report found that people lack pre-education and access to advice before getting into franchising. Many prospective franchisees have not undertaken research or sought legal, accounting or business advice before signing into franchise agreements. We know that franchisees who participated in pre-entry training tend to have better relationships with their franchisor and be more successful in business. How will the updated information help you? The updated information will help you to: understand risks and rewards to decide if franchising is right for you get all the facts and ask the right questions before signing the franchising agreement access government support available for franchisees, including support for managing disputes, government websites that provide information about running a business and how to exit a business find resources and training including free online Pre-Entry Franchise Education course know your rights and obligations as an employer keep up-to-date with new changes for the franchising sector The updated information is part of the government’s commitment to increase need for transparency and accountability, protection and education and awareness to make franchising fairer. We have designed the information with franchising stakeholders to streamline access to education and support. We will be adding more information once franchising code amendments have been made and come into effect later this year. For more information visit www.business.gov.au
The 2021-22 Budget includes a range of support for industry growth, small business owners and employers. Find out what the 2021-22 Budget means for your business. The Australian Government is Securing Australia’s Recovery - Australia’s recovery from COVID-19 is well underway. Find out what the 2021-22 Budget means for your business. Industry growth Modern Manufacturing Strategy - $1.5 billion Modern Manufacturing Strategy continues to be a key priority for the department. This Budget includes complementary new measures to support Australian manufacturers and businesses in the space, fashion and automotive sectors. Artificial Intelligence (AI) Action Plan - $117.8 million over the next four years to deliver Australia’s first Artificial Intelligence (AI) Action Plan, as part of the Government’s Digital Economy Strategy. The plan will support business to adopt AI, and the development of world leading AI projects, along with the associated high-skilled jobs these projects create. Assistance to access Commonwealth procurement - $2.6 million to assist Australian manufacturers and small and medium-sized enterprises to access Commonwealth procurement. This measure is part of a larger package of activities designed to raise awareness of the value and availability of Australian-made products. Australian fashion certification trade mark - $1.0 million to support the design and development of an Australian fashion certification trade mark, promoting and endorsing the high quality of locally designed and produced products to key overseas markets. Australian digital games industry - The Government will support the growth of Australia’s digital games industry by cutting the cost of game development in Australia. Digital game developers will receive a 30 per cent refundable tax offset, capped at $20 million per year, for qualifying Australian games expenditure. Tourism - $274.6 million is going towards the expansion and extension of successful programs to support Australian businesses such as travel agents, zoos and aquariums and events providers that rely on international tourists. Small business owners Employment Contract Tool - $7.2 million to improve and maintain a new Employment Contract Tool, supporting small business owners to meet their employment obligations. The tool will help businesses navigate the hiring process and encourage expansion. Digital Solutions – Australian Small Business Advisory Services program - $12.7 million is allocated in 2021-22 to support an additional 10,000 small businesses to use digital technologies and improve their digital capability as part of the Digital Solutions – Australian Small Business Advisory Services program. Support for local small and family-owned businesses - $8.0 million for a two year campaign to encourage people to support their local small and family-owned businesses as they recover from the impacts of the COVID-19 pandemic. Ahead for Business program - $0.9 million over four years from 2021-22 to support small business owners to take steps to improve their mental wellbeing through the Ahead for Business program. Payment Times Reporting Scheme - $16.0 million over four years to support the ongoing delivery of the Payment Times Reporting Scheme, ensuring those working with larger companies on government contracts get paid on time. Australian Small Business and Family Enterprise Ombudsman - increased funding to the Australian Small Business and Family Enterprise Ombudsman through an injection of $1.5 million to help small businesses identify and access support for dispute resolutions. Franchise Disclosure Registry - In recognition of many small and family businesses operating as franchises, the Government will spend $4.3 million over four years to introduce a Franchise Disclosure Registry to increase transparency and restore confidence in the sector. Pause or modify Australian Taxation Office (ATO) debt recovery action - The Government will back small business with a simple, fast and cheap way to pause or modify Australian Taxation Office (ATO) debt recovery action in relation to a debt that is currently under review by the Administrative Appeals Tribunal (AAT). These changes will provide small business with the confidence and peace of mind that they will be able to pause any ATO debt recovery actions until their case is decided by the independent umpire. Extending tax incentives - The Government is supporting business investment by extending temporary full expensing and temporary loss carry-back for an additional year. This extension will enable businesses experiencing COVID‑19 related supply disruptions, or considering investing in projects requiring longer planning times, to take advantage of the incentives. Employers and job seekers Expanding the $1 billion JobTrainer Fund - to continue to deliver low fee or free training places in areas of skills need. JobTrainer will help ensure Australians can access critical skills and will include 10,000 additional digital skills training places and 33,800 additional training places in the aged care sector. The Government will provide an additional $500 million in funding, to be matched by state and territory governments. Increasing current wage subsidies - boosting job security by increasing current wage subsidies available through jobactive, Transition to Work and ParentsNext to all businesses to $10,000 from 1 July 2021. This includes subsidies for young people, parents and the long-term unemployed. From July 2022, all wage subsidies will also be more flexible to meet employer needs. Extending the Boosting Apprenticeship Commencements - As part of our plan for Australia’s future, the Government is extending the highly successful Boosting Apprenticeship Commencements (BAC) wage subsidy for a further six months to support new apprentices and trainees who commence by 31 March 2022. This additional $1.5 billion investment will support the employment of newly commencing apprentices and trainees, assisting school leavers and job seekers during the peak hiring period for key industries. The subsidy will be paid to employers for a full 12 months from commencement. The BAC extension will help support women by delivering 5,000 additional gateway services and guaranteeing in-training support services for women commencing in a non-traditional trade occupations. 12,000 places now on offer as part of New Business Assistance - Job seekers wanting to start up their own businesses will have greater support and flexibility, with up to 12,000 places now on offer as part of New Business Assistance with the New Enterprise Incentive Scheme. The Government will invest an extra $129.8 million into the program. For more information visit www.business.gov.au
We have developed a guide help you recognise common scams and share tips on how to protect your business and customers. Scammers target small business owners as they recognise they are busy and usually have limited resources to keep their systems safe. Scam risks have increased as a result of the COVID-19 pandemic. The latest COVID-19 scams are designed to take advantage of the changes to our daily life including: loss of jobs and financial vulnerability fear of infection the shortage of particular goods and services Download the Be COVID Fraud Aware guide The Be COVID Fraud Aware guide will help you: know the common scams to look out for protect your business from scams protect your customers information know where to get further assistance and report a scam Download here
Make sure you complete the Cyber Safety Checklist to help improve your cyber security and protect your identity Australian businesses are being targeted with COVID-19 scams, fraud attempts and deceptive email and SMS schemes. It’s important to protect your business, especially during tax time. The Australian Taxation Office (ATO) and Australian Cyber Security Centre (ACSC) are sharing tips and resources to help you improve your cyber security and protect your identity. Cyber Safety Checklist During this time of heightened scam activity, businesses are encouraged to: Use multi-factor authentication where possible and don’t share your password with anyone. Run the latest software updates to ensure operating systems security is current. Secure your private Wi-Fi network with passwords (not the default password) and do not make financial transactions when using public Wi-Fi networks. Exercise caution when clicking on links and providing personal identifying information. Only access online government services via an independent search – not via emails or SMS. Call us on an independently sourced number to verify an interaction if in doubt. Educate your staff on cyber safety and scams. Find out how to report a data breach or scam.Australian Taxation Office Learn more about COVID-19 malicious cyber activity.Australian Taxation Office Watch the short video on Stay secure online and protect yourself from scams.Australian Taxation Office Watch the short video on how to keep your digital identity safe by protecting personal information.Australian Taxation Office