Coming into the end of a financial year is always a reminder to take a look at what is recent and needs consideration for the current year and what is on the horizon for the next year. Here is a snapshot of what’s new in 2022 and what’s coming for 2023 for individuals, companies, superannuation and trusts:

With a few minor exceptions, budget 2021/2022 was pretty much a matter of extending programs that were already in place to stimulate the economy in the wake of the Covid-19 pandemic. At the time of writing this the legislation enacting the budget proposals had not been passed by Parliament. Most of what was announced is not set to start until 1 July 2022. We will provide further updates and reminders once the legislation has been passed.

Over the past few months there has been a great deal of focus on large companies not paying their employees correctly. I thought it a timely reminder to take a deeper look into an area that we see many small businesses fall short when it comes to employee entitlements, and that is super.