[adning id=”12070″]

[adning id=”12070″]

Key changes affecting your business from 1 July 2021

Here is a run-down of the key changes taking effect from 1 July 2021 that are likely to have an impact on small business owners in Western Australia.

New minimum wages

The minimum wages for both the federal and state based industrial relations systems will increase by 2.5 per cent from the first pay on or after 1 July 2021. There are some delays to increases in certain industries covered by the Federal system, including retail (from the first pay on or after 1 September 2021) and other awards (from the first pay on or after 1 November 2021).

If your business operates under the federal industrial relations system (covering businesses such as ‘Pty Ltd’ companies), the new national minimum wage will be $772.60 per week or $20.33 per hour. Visit the Fair Work website for more information about the national minimum wage increase.

If your business operates under the WA state industrial relations system (covering sole traders, micro businesses, unincorporated partnerships and unincorporated trust arrangements), the new minimum wage will be $779 per week or $20.50 per hour. For any questions about wages under the WA industrial relations system, contact Wageline.

Super guarantee increase

The superannuation guarantee will increase from 9.5 per cent to 10 per cent. This change is part of incremental increases that will see the SG rate increase by 0.5 per cent annually until it reaches 12 per cent on 1 July 2025.

Single Touch Payroll (STP) reporting changes

STP reporting is now a requirement for small businesses with closely held payees and micro employers that had completing quarterly STP reporting. Find out more about the STP reporting changes.

Updated Franchising Code

Many changes to the Franchising Code commence on 1 July 2021, including those relating to franchisee protections and the disclosure obligations of franchisors. Visit the ACCC website for information and fact sheets on the amended Code.

New Fitness Code

If you run a business in the fitness industry, a new Fitness Code is now in effect. The code has been developed to make sure there are appropriate standards of service, to encourage consumer confidence, and to support and promote the fitness industry.

Location allowance increase for regional employees

If you have employees in certain regional towns, you may be required to pay a location allowance. Visit the Wageline website for information on the new rates for each town and details of the wage awards this allowance applies to.

Other changes of note

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email
Share on print
Print

Leave a Comment

Your email address will not be published. Required fields are marked *

SUBSCRIBE FREE
SME NEWS BRIEFS

Get breaking news delivered
  • This field is for validation purposes and should be left unchanged.

RECEIVE GOVT GRANT OF $10K to $250K*.

Austrade Approved Business Events
AVAILABLE NOW APPLY BEFORE 30th MARCH 2021 (Condition apply)

  • ABF Events are approved and listed below have been certified by Austrade on the Schedule of Approved Business Events.
  • This allows exhibitors, sponsors, delegates and partners to participate in the Business Events Grant Program. Note event bookings need to be confirmed ASAP to participate in the grant program
  • The program provides 50% rebate (based on a minimum spend of $20k) for approved items including ABF event-media packages, exhibition stands, corporate function tables, delegate registrations.
  • Govt Grant applications are now open until the 30 March. Please contact ABF to discuss how we can assist, we have experts to assist grant applications.
  • Grant funding will cover up to 50% of eligible expenditure incurred in participating at pre-approved business-to-business events as buyers or sellers during the 2021 calendar year.  All grant applications must be submitted for approval via the following link: https://business.gov.au/grants-and-programs/business-events-grants
  • For further information please see this fact sheet.