Important April Updates
Changes for rostering employees on Public Holidays
The Federal Court has issued a ruling on 28 March 2023, stating that employers are obligated to consult with their workers before assigning them to work on public holidays. Instead of automatically rostering them on to work, employers must now "request" their employees to work on public holidays.
If an employer fails to make this request in advance of the public holiday, it will be considered a violation of the Fair Work Act and render the working of the holiday unlawful. This applies to all employees who fall under the Federal System that is supported by the National Employment Standards (NES).
Employees have the right to take a full or partial day off on a public holiday and are protected from any negative actions if they reasonably refuse to work on such holidays. For further details on public holiday requirements, please refer to the following link to visit the Fair Work website.
Super guarantee rate increase on 1 July 2023
Effective from 1st July 2023, the super guarantee rate will be raised from 10.5% to 11%. Therefore, you will be required to update your payroll programs and systems to accommodate these modifications.
Tapping into NSW’s biodiversity credits
NSW Farmers has joined forces with the newly-formed Credits Supply Taskforce to educate farmers on the opportunities available in the NSW biodiversity market, and to provide guidance on how to access these opportunities.
Biodiversity credits in NSW are now easier for farmers to secure through a $106.7 million investment in the NSW Budget to establish a strategic new fund. The Biodiversity Credits Supply Fund (the Fund) is operated by the Department of Planning and Environment with the aim of making credits easier to sell and buy, improving the functioning of the biodiversity market.
The fund is buying credits based on demand from development and infrastructure projects. Credits will be sold to public or private sector proponents who need credits to offset the biodiversity impacts of their projects, or other buyers who may seek credits for philanthropic or strategic purposes.
To help farmers understand these opportunities, a workshop will be held in Wagga Wagga on Thursday, May 4th, from 9:30 am to 12:30 pm, with morning tea provided.
During the workshop, guest speakers will address a range of topics, including how farmers can generate and sell biodiversity credits, how biodiversity opportunities can be integrated with other farming activities, the benefits for landholders in receiving revenue and funds for land management, and the potential environmental benefits of engaging in biodiversity market opportunities.
Personal Services Income - Does it apply to you?
Personal services income (PSI) refers to income generated primarily from the personal skills or efforts of an individual. Find out if you are receiving personal services income (PSI) and if the PSI rules apply to you by following the link below to the ATO website.
It’s Fringe Benefits Tax time
If you provided fringe benefits to your employees (or associates) between 1 April 2022 and 31 March 2023, now’s the time to lodge and pay your fringe benefits tax (FBT) return.
Super co-contribution
If you are a low or middle-income earner and make personal (after-tax) super contributions to your super fund, the government also makes a contribution (called a co-contribution) up to a maximum amount of $500. To be eligible for a co-contribution you must meet the eligibility requirements. For more information, visit the ATO website via the link below.
Image: Bush & Campbell Directors, David Rosetta, Rebecca Nicoll, Daniel Uden, Mathew Smith, Sharon Ferguson, Amanda Powell and Peter King
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