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Increase to Award Minimum Rates From 1 July

The Fair Work Commission have announced that from 1 July 2017 modern award rates will increase by 3.3%

This equates to an increase of nearly 50c per hour (or roughly an additional $18 to $19 per week) depending on the award and trade involved.

The wage increases will also flow onto rates of pay  for apprentices and trainees.

If your staff are being paid at Current award rates now is the time to take a look to ensure that your staff are not underpaid as at 1 July 2017.

If you have any questions or concerns please contact: Call Kirstie on 0420 515 693

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EOFY is fast Approaching

The End of Financial Year is Fast Approaching

That means getting all your paperwork ready so that the annual meeting with your accountant is based on real figures.

It’s so important that you get your ducks in a row BEFORE you go to see your accountant and BEFORE the end of the financial year so you have time to act on their recommendations.

It’s no good after the 1st of July and it’s no good if the information you provide to them is not accurate and up to date.

So here is a short summary of the things you should have sorted BEFORE you do your year end review

 

Bookkeeping Tasks:

  • Ensure last year is finalised – Journals are done and your financials match with financials lodged with the ATO.
  • Last year tax return needs to be lodged and you should have a copy
  • Make any adjustments in the data file for any FBT year end adjustments @ 31st March 2017.
  • Review the list of Assets & remove obsolete items
  • Plan for a stock take if you haven’t already done one
  • Write off any old unrecoverable debts
  • Check your payroll is in balance YTD.
  • Check your Trade Debtors & Trade Creditors are in balance.
  • Ensure all of your BAS are lodged
  • Gather together all documents (invoices and finance agreements) for any capital purchases

NEED HELP – Call Admin Advantage on 3879 9003 and we will create order from Chaos