{"id":4302,"date":"2012-06-22T11:42:28","date_gmt":"2012-06-22T01:42:28","guid":{"rendered":"http:\/\/wordconstructions.com.au\/blog\/?p=4302"},"modified":"2012-06-22T11:42:28","modified_gmt":"2012-06-22T01:42:28","slug":"is-your-business-prepared-for-2012-13","status":"publish","type":"post","link":"https:\/\/wordconstructions.com.au\/blog\/2012\/06\/is-your-business-prepared-for-2012-13\/","title":{"rendered":"Is your business prepared for 2012-13?"},"content":{"rendered":"<p><a href=\"http:\/\/wordconstructions.com.au\/blog\/wp-content\/uploads\/2012\/06\/30_june_20121.gif\"><img decoding=\"async\" class=\"alignright  wp-image-4330\" title=\"30_june_2012\" src=\"http:\/\/wordconstructions.com.au\/blog\/wp-content\/uploads\/2012\/06\/30_june_20121.gif\" alt=\"changes for 1 July 2012\" width=\"197\" height=\"194\" \/><\/a>With one week to go in this financial year, I thought it a good time to remind\u00a0you of some changes that come into effect\u00a0on 1 July.<\/p>\n<ul>\n<li>the <a title=\"Carbon pricing your business\" href=\"http:\/\/wordconstructions.com.au\/blog\/2011\/10\/carbon-pricing-your-business\/\">carbon tax<\/a> starts &#8211; find out more about <a title=\"ACCC - carbon tax guide\" href=\"http:\/\/www.accc.gov.au\/content\/index.phtml\/tag\/carbon\/\" target=\"_blank\">pricing impacts on the ACCC website<\/a><\/li>\n<li>minimum weekly wages increase by 2.9% so if you employ anyone at minimum rates (including apprentices, trainees and juniors) make sure you are meeting the <a title=\"Fair Work Australia\" href=\"http:\/\/www.monashfirstforbusiness.com.au\/eLetterN\/Pub\/eLink.asp?ID=168288&amp;URLId=284\" target=\"_blank\">Fair Work Australia<\/a> requirements<\/li>\n<li>new individual PAYG tax rates change &#8211; namely the tax-free threshold is increasingly significantly. Make sure your payroll software has been updated with the new rates before your first pay run<\/li>\n<li>the <a title=\"Remember the flood levy\u2026\" href=\"http:\/\/wordconstructions.com.au\/blog\/2011\/06\/remember-the-flood-levy\/\">flood levy finishes on 30 June<\/a> so if you have been deducting this from employees&#8217; pays, remember to stop!<\/li>\n<li>the superannuation co-contribution rate is halving to $0.50 per $1 you contribute, so if you qualify this year, you have a few days left to make\u00a0a personal contribution to get this<\/li>\n<li>concessional superannuation contributions (those from your employer, salary sacrifice or that you claim a tax deduction on) will be capped at $25,000 regardless of your age or situation. Check your contribution rates for 2012-13 so you don&#8217;t get any nasty tax surprises&#8230;<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Have you implemented all of the relevant changes for your business?<\/p>\n<p>If you&#8217;re looking for some tips for the end of financial year, some of my previous posts may help:<\/p>\n<p><a title=\"End of financial year\" href=\"http:\/\/wordconstructions.com.au\/blog\/2009\/06\/end-of-financial-year\/\">Preparing for the end of financial year<\/a><br \/>\n<a title=\"Preparing for 30 June\u2026\" href=\"http:\/\/wordconstructions.com.au\/blog\/2008\/06\/preparing-for-30-june\/\">Maximise your 30 June position<\/a><br \/>\n<a title=\"2010-11 is almost here!\" href=\"http:\/\/wordconstructions.com.au\/blog\/2010\/06\/201011-is-almost-here\/\">Keeping your accounting issues under control<\/a><br \/>\n<a title=\"Paying yourself and profit\" href=\"http:\/\/wordconstructions.com.au\/blog\/2009\/02\/paying-yourself-and-profit\/\">Understanding profit and paying yourself<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With one week to go in this financial year, I thought it a good time to remind\u00a0you of some changes that come into effect\u00a0on 1 July. the carbon tax starts &#8211; find out more about pricing impacts on the ACCC website minimum weekly wages increase by 2.9% so if you employ anyone at minimum rates [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[53],"tags":[343,342,1454,347],"class_list":["post-4302","post","type-post","status-publish","format-standard","hentry","category-business-info-tools","tag-30-june","tag-financial-year","tag-superannuation","tag-tax"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/4302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/comments?post=4302"}],"version-history":[{"count":4,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/4302\/revisions"}],"predecessor-version":[{"id":4463,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/posts\/4302\/revisions\/4463"}],"wp:attachment":[{"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/media?parent=4302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/categories?post=4302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wordconstructions.com.au\/blog\/wp-json\/wp\/v2\/tags?post=4302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}