If your small business has employees, or hires eligible contractors, you'll need to ensure your payroll and accounting systems are updated to reflect the new super guarantee (SG) rate of 11% for payments of salary and wages you make from 1 July.

You need to calculate super contributions at 11% for your eligible workers for payments of salary and wages you make from this date.

If you need help to work out how much super you need to pay for your employees and eligible contractors after 1 July, you can use our super guarantee contributions calculator.

Remember, a registered tax professional can help you with your tax and super obligations.

Visit the ATO website for more information.

Get set for a minimum wage increase

The Fair Work Commission (the Commission) has announced:

• the National Minimum Wage will be increased to $882.80 per week or $23.23 per hour
• a 5.75% increase to minimum award wages.

The increase applies from the first full pay period starting on or after 1 July 2023.The Commission will issue draft determinations and orders about how their decision affects awards shortly. The Commission will then update the pay rates for each award.We (the Fair Work Ombudsman) are currently working to update to our pay tools, website information and resources with the new rates. These will be ready for you to access from 1 July 2023.

Visit the FWO website for more information

Tax time is right around the corner! Check out the ATO’s tailored info guide for the agricultural industry: www.ato.gov.au/agriculture

Not sure what deductions you can claim this tax time? Well good news! The Australian Taxation Office (ATO) has a range of helpful information tailored to the agricultural industry!

Check it out: www.ato.gov.au/agriculture

• Webinar 1. Reading climate drivers Wednesday, 14 June, 1 – 2 pm, 
• Webinar 2. Using outlooks, forecasts, and tools, Wednesday 21 June, 1 – 2 pm

Join a webinar on Wednesday 31 May at 11 am to learn about Concessional Loans that are currently available for primary producers impacted by the October 2022 to January 2023 flood and storms event and the 23 March 2023 hailstorm event.
If you have questions, here is your chance to ask them.

Presenters from Agriculture Victoria and Rural Finance will discuss the guidelines and application process.
Applications close on 13 July for the Primary Producer Flood Recovery concessional loan (for floods and storms between Oct 2022 to Jan 2023) and 14 November for the Hailstorm Recovery Concessional Loan (for the hail event on 23 March 2023).

Register online HERE  For further information call 0427 694 185 or This email address is being protected from spambots. You need JavaScript enabled to view it.

While industry welcomed the long-sought sustainable funding model announced in Tuesday night’s federal budget, agriculture leaders declared the “surprise raid on farmers’ hip pockets” as “bittersweet”.

Read the full Weekly Times article here- WT_article-_New_biosecurity_levy.pdf