Business Update Week 12 2022
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward.
Nominations Now Open for Local Business Heroes Program
Australian small businesses are being encouraged by Australia Post to put their hands up to be counted as Local Business Heroes and share in a prize pool worth $285,000. Entries are now open for the 2022 Local Business Heroes program, which will see 57 small businesses chosen to be promoted through the Australia Post network. More information can be found here
Jobs Victoria is backing you to grow
Small businesses looking for staff can access up to $20,000 wage subsidies and support to find and hire staff. Jobs Victoria’s Backing You advertising campaign aims to connect more employers with the staff they need and support people back to work.
Apply now for the Medtech Manufacturing Capability Program
The $3 million Medtech Manufacturing Capability Program is open to Victorian manufacturers and medical technology (medtech) businesses. Grants of up to $500,000 are available to help businesses fast-track projects, set up local manufacturing activities and provide opportunities to partner with other Victorian businesses. Apply now
Midweek Melbourne Money is back to support city businesses
Claim 25% off your bill when you spend between $40 and $500 dining in the city between Monday and Thursday. (Maximum $125 rebate per customer for the life of the program.) The Midweek Melbourne Money program is back from 7 March with $10 million worth of rebates up for grabs.Claim your rebate
Victorian Grants to help the mental wellbeing of business community members
Through the Mental Wellbeing of Business Communities Grants program, member-based business organisations can apply for free mental wellbeing training and $15,000 to deliver a mental wellbeing project they will design through the training course. Find out more
Victorian Sick Pay Guarantee for casual and contract workers
Victorian casual and contract workers in certain jobs can now access 5 days a year of sick and carer’s pay through the Victorian Government’s Sick Pay Guarantee. Because no one should have to choose between a day’s pay and their health. Learn more
Book a 30-minute session with the Microbusiness Concierge Service
Do you need guidance on what tools, templates or Victorian Government programs and services can help you run your business? If you are self-employed or have 2 employees or fewer, book a 30‑minute phone consultation with a dedicated concierge agent. Book appointment
$3,000 Subsidy to Buy Electronic Vehicles in Queensland
The Queensland government will pay a $3,000 subsidy to electric vehicle buyers and build new charging stations to incentivise take-up, under a 10-year strategy to reduce emissions and ultimately help its net-zero commitment by 2050.
$500 Million Critical Minerals Funding
The government announced almost $500 million in funding to boost the output of critical minerals, aiming to diversify supply for its allies and counter China’s dominance of the global market.
COVID-19 Vaccine Claims Scheme
The government is developing a claims scheme to provide a simple, streamlined process to compensate eligible people who suffer a moderate to significant impact following an adverse reaction to an approved COVID-19 vaccine without the need for complex legal proceedings. The scheme covers the costs of injuries of $1,000 and above.
Investment Attraction Fund Opens
Expressions of interest are now open for the recently launched Investment Attraction Fund designed to attract new investment to Western Australia that will create local jobs and contribute to a more diversified economy.
Grants for Regional Sporting Events
Sporting events across rural and regional Australia are set to benefit from the government’s Regional Sport Events Fund. The fund is now open for applications and will support community sporting events with an aim of kickstarting local economies and encouraging visitors back after the impacts of the pandemic. More than 400 eligible LGAs across Australia can apply for funding of up to $50,000.
Business Assistance Package for WA Businesses
The Level 2 COVID-19 Business Assistance Package is available for businesses in Western Australia most impacted by restrictions. The assistance includes a $66.8 million Small Business Hardship Grants Program, $2.8 million of payroll tax relief for large hospitality businesses, and $2.1 million for a COVID-19 Commercial Sporting Franchises Support Program.
Safe Transition Industry Support Package
The WA Government has launched a $77 million Safe Transition Industry Support Package to assist eligible businesses and individuals in sectors most affected by the decision to delay the full reopening of WA’s borders. It includes nine support programs for the international education, tourism, aviation and events sectors.
Employee or Independent Contractor?
The recent High Court’s approach provides greater certainty for businesses who have properly recorded their independent contractor relationships in written contracts that accurately reflect the nature of the relationship. If work has been undertaken on the basis of a comprehensive set of written terms, it’s those terms which will be the basis for determining whether or not you’re an employee or an independent contractor, not the reality of your working arrangements.
- The engagement contract is the most important document to protect employers: it must comprehensively outline the terms of engagement. If key aspects of the relationship are not regulated by the agreement, this could allow a contractor to challenge the contract and a court to examine the conduct of the parties.
- The contract should facilitate that ultimately the worker performing the work, even though contractor arrangement, is able to be paid at least the minimum wage (this is increasingly becoming law).
A review and update of contractor agreements would be wise to implement to ensure the legal rights, duties and obligations created between the parties are consistent with the relationship of an independent contractor and principal. Source:High Court rules on whether you are an employee or an independent contractor – ABC News
Support for Small Businesses
If your business is struggling, the ATO offers a wide range of support for those affected by the pandemic, natural disasters, mental health issues, or financial difficulties. Learn more about the available support, and the small business debt helpline for free, independent advice.
ATO Lodgement Dates
These dates are from the ATO website and do not take into account possible extensions. If you are a My Bookkeeping Buddy Client you may be entitled to an extension. You remain responsible for ensuring that the necessary information is with us in time.
Final dates for lodgements and payments:
BAS/IAS Monthly Lodgements
February 2022 Activity Statement: 21 March 2022
March 2022 Activity Statement: 21 April 2022
BAS Quarterly Lodgements
3rd/March Quarter 2022 (incl. PAYGI): 28 April 2022
When a due date falls on a Saturday, Sunday or Public Holiday (a day that is a public holiday for the whole of any state or territory in Australia), you can lodge or pay on the next business day.
Superannuation Guarantee contributions:
3rd/March Quarter 2022: 28 April 2022
(Contributions must be in the fund by this date. Late payments of superannuation are not tax deductible. If your business has overdue superannuation guarantee payments and you are unsure of how to proceed, please contact us to discuss.)
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.