SEDA news and events
Pandemic Declaration extended for 3 months from 11:59pm Tuesday 12th July 2022. Read the full Statement here.
Following the Annual Wage Review 2022, the Fair Work Commission (FWC) has made 2 announcements:
- the National Minimum Wage will increase by 5.2%, which amounts to $40 a week from 1 July 2022
- award minimum wages will increase by 4.6%, which is subject to a minimum increase for award classifications of $40 per week and based on a 38-hour week for a full-time employee.
To read more detailed information, go to Get set for a minimum wage increase.The new National Minimum Wage will apply from the first full pay period on or after 1 July 2022. This means if you have a weekly pay period that starts on Mondays, the new rates will apply from Monday 4 July 2022.Most awards will increase from the first full pay period on or after 1 July 2022. (For some awards in the aviation, hospitality and tourism industries, the increase will happen from 1 October 2022)The FWC will now issue draft determinations and orders about how their decision affects awards. The FWC will then update the pay rates for each award.
Martin Foley, Minister for Health
The Acting Chief Health Officer has provided advice that while some key measures can be safely lifted, others should remain until the end of winter. These changes to the pandemic orders come into effect from 11.59pm Friday 24 June.
Download the Media Release here to read the changes being implements on 11:59pm Friday 24 June 2022.
Get ready for changes to super guarantee
From 1 July 2022, employees can be eligible for super guarantee (SG), regardless of how much they earn. This is because the $450 per month eligibility threshold for when SG is paid is being removed. You only need to pay super for workers under 18 when they work more than 30 hours in a week.The super guarantee (SG) rate will also increase from 10% to 10.5% on 1 July 2022. You'll need to use the new rate to calculate super on payments you make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July. The SG rate is legislated to increase to 12% by 2025.Make sure you update your payroll and accounting systems so that you continue to pay the right amount of super for your employees. Visit the ATO website for more information.
Single Touch Payroll changes
STP Phase 2 started on 1 January 2022. Some Digital Service Providers (DSPs) needed more time to update their products and transition their customers. If your DSP has a deferral, this covers you.It's important you understand which of the following circumstances apply to you:
- your payroll product is ready - it's time for you to start STP Phase 2 reporting now or have a plan in place to transition as soon as possible.
- you are covered by your DSPs deferral - make sure you understand when your product will be ready and that you are ready to start Phase 2 reporting when it has been updated, or no later than the first pay day after your DSP deferral expires.
- the product you're using is not being updated to offer STP Phase 2 reporting - your DSP will let you know if they have another product you can use. If not, you'll need to choose a product that offers STP Phase 2 reporting.
If you're not sure which of these circumstances applies to you, you need to speak with your DSP and/or your tax or BAS professional.
What you need to do
You need to start reporting the additional information when your product is ready, so you should start preparing now. Many DSPs are releasing changes progressively. Your DSP will provide you with instructions and it's important that you follow them. We have resources to help you to understand the changes and prepare. These include:
- a factsheet outlining the key changes of STP Phase 2 reporting
- a checklist to consider what you need to do
- detailed reporting guidelines which outline the STP Phase 2 reporting requirements.
You can access these and other resources at ato.gov.au/STPresources
Need extra time to transition?
You can apply for a delayed transition if you need more time to start STP Phase 2 reporting. Visit ato.gov.au/delayedstp2transitions to find out how to apply
The ATO has developed a range of resources to help agriculture workers get their tax right in preparation for 1 July 2022.
The attached brochure 'If you’re in the agriculture industry it pays to learn what you can claim' has some handy information about what you can and can't claim at Tax time.
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