Key changes for small business from 1 July 2019

Hi I’m Kate Carnell, the Australian
Small Business and Family Enterprise Ombudsman. Well, it’s the 1st of July. You’ve all got through the end of the financial year, done the stock takes, done
all that paperwork that has to be done. But now there are some major changes
that you need to take on board. From today, as you should know, there’s a
there’s a rise in the minimum wage of 3% so go to the Fair Work Ombudsman
website to have a look at how that affects the award that you’re paying
your staff on. Also from today there’s a reduction in Sunday penalty rates in four
awards. That is hospitality, pharmacy, fast food and retail. As you’d be aware,
penalty Sunday penalty rates for full-time and part-time employment will
come down to about 150% some this year and some next year. Casuals of course are 25% more than that. Also from today you need
to start the process of implementing single touch payroll which has now been
legislated for all businesses that employ somebody. Now, you’ve got until
September to comply and there is a capacity if you really can’t comply by
then to ask for an extension for a bit longer and before all of you jump up and
down saying ‘just another cost to small business, just another thing we have to
deal with’ well look, I have to say you’re right but it is legislation and over time it will cut your paperwork after you
implement this system. On a positive note, the new ABA
(Australian Banking Association) code of practice comes in today as well. So if you are having a problem with a
bank or, alternatively, signing up to a new loan or whatever, have a quick
look at the code and what the banks are required to do to support you, as a small
business, and what protections you have. Happy 1st of July – at least the end of
the financial year issues have been done and let’s all look
forward to a prosperous new financial year. Thanks very much.

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