Important changes to Casual Employment
Recent changes to the Fair Work Act now require small business employers (fewer than 15 employees) to provide existing casual employees (employed before 27 March 2021) a copy of the Casual Employment Information Statement (CEIS) as soon as possible after 27 March 2021.
The CEIS provides information on the following:
- Definitions and expectations of casual employment
- Eligibility criteria for casual conversion
- Timeframe employers are obliged to provide casual employees with a permanent contract
- Reasonable grounds not to offer casual conversion
- Small business requirements
- Dispute avenues through the Fair Work Commission
SME Loan Guarantee Extended
The SME Loan Guarantee Scheme has been extended to assist businesses still battling through the coronavirus crisis. Renamed the SME Recovery Loan Scheme, the following changes have been made to the scheme:
- The government guarantee has been increased from the former 50-50 split between the government and the banks to an 80-20 split;
- The size of eligible loans has been increased, from $1 million to $5 million;
- Businesses with a higher turnover will have their maximum eligible turnover increased from $50 million to $250 million, while maximum loan terms will also be increased from five to 10 years;
- Lenders will also be allowed to offer borrowers a repayment holiday of up to 24 months;
- Eligible businesses will also be allowed to access more concessional interest rates available under the program and to better manage their cash flows through an extended loan term and lower combined repayments in order to refinance their existing loans.
Loans are now available and must be approved prior to 31 December 2021.
Significantly reduce your tax for 2021
Greenhalgh Pickard is offering a specialised one-hour consultation with our Senior Accounting team to provide expert advice on how to significantly reduce your tax for 2021.
Let us share our expertise and help you avoid paying unnecessary tax.
This special offer is only $220 and we guarantee you won’t pay anything until we save you over this amount because we are confident our review of your business will significantly increase your financial prosperity this year.
Be quick because this has to be done before the End of Financial Year (June 30).
Call now to set yourself up for your most prosperous and profitable year to date.
P | (07) 5444 1022