Superannuation Increase

Don’t forget the superannuation increase from 9.5% to 10% for all payroll payments from 1 July 2021.

If you have staff employed with their remuneration package inclusive of superannuation, you need to make a decision.

Do you reduce their take home pay as a result of the superannuation increase? Or are you going to give them a 0.5% pay rise by virtue of the superannuation increase?

For example, if they are on an annual remuneration package of $100,000, you would currently pay them an annual pay of $91,324 before tax and $8,676 in superannuation.

Do you reduce their annual pay before tax to $90,909 and increase their super to $9,091? Meaning no change in total remuneration of $100,000.

Or do you leave their annual pay before tax at $91,324 and increase their super to $9,132? Meaning their total remuneration increases to $100,456.

If you want some more help to survive and thrive in these uncertain times, contact me below

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Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you. In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face. And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

We promise to keep your email address safe.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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April 2021 Jobs Data

The April 2021 Jobs Data released today is the first jobs data after the end of JobKeeper.

At one level it looks like the end of JobKeeper did not have a big impact as the unemployment rate fell from 5.7% in March to 5.5% in April.

But if you look behind the numbers you see a different story.

Firstly, the number of employed people fell by nearly 31,000 between March and April. Women suffered the worst here, with the number of employed women falling by over 36,000. From a state perspective, the biggest job losses were in NSW which had nearly 37,000 less people working in April compared to March.

Secondly, the total labour force fell by over 64,000 people between March and April. This means that over 64,000 people stopped working, or stopped looking for work in April. For people who were unemployed in March and stopped looking for work in April, they are no longer counted as unemployed.

Thirdly, whilst the number of unemployed people of nearly 34,000 people in April, this can be reasonably attributed to less people looking for work and not actual job creation (especially as there are nearly 31,000 less people working in April).

My conclusion

I think the end of JobKeeper in March, has meant a lot of people gave up hope of getting work in April.

If you want a confidential discussion on your business situation, contact me below

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Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you. In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face. And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

We promise to keep your email address safe.

Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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