28 March 2014
Boyce Business Systems specialist Liam Smith advises of a number of recent technology announcements that may impact clients’ business systems:
- Phoenix Versions 4 Cashbook – support to cease effective 8 April 2014
- Phoenix online training courses - coming up
- Microsoft Windows XP – support to cease effective 8 April 2014
- MYOB – updates to pricing effective 1 April 2014
Read on for more details about what you should do if these changes affect your business systems.
17 March 2014
Major reforms to the aged care system will take effect from 1 July 2014. The financing arrangements for those entering aged care on or after this date have been revised, although those who enter before that date will continue under their existing arrangements.
A very informative article by Alex Denham on 21 February 2014 was published on www.cuffelinks.com.au and has been reproduced below with permission by Boyce Financial Services (BFS).
5 March 2014
The Australian Taxation Office (ATO) has announced key superannuation rates and thresholds to apply in respect of the 2014/15 financial year.
The increase in thresholds should be considered in terms of the impact to your contribution strategies and retirement planning.
Concessional contributions caps
- The concessional contributions cap has increased to $30,000 for 2014/15, up from $25,000.
- The special concessional contributions cap for older people remains at $35,000, but will apply to anyone aged 49 or over on 30 June 2013.
5 February 2014
There are more than 800,000 Australian employers who are required to make superannuation guarantee contributions on behalf of employees. This can be a complex process with multiple funds to contribute to, each with their own specifications for accepting the data and payments.
From 1 July 2014, for businesses with 20 or more employees, it is anticipated that this process will be simplified when a new data and e-commerce standard comes into effect.
5 February 2014
Employees who believe they are being bullied at work are now able to apply to the Fair Work Commission to have the harassment stopped.
New workplace bullying laws came into effect on 1 January 2014, as part of a number of amendments to the Fair Work Act (2009) that were passed by Parliament in 2012 and 2013.
The new laws affect the way allegations of workplace bullying are dealt with and these changes have significant implications for businesses.