Superannuation

24 Jun 2022

Super Guarantee Changes from 1 July

posted in: Business, Individuals |

As the new financial year approaches, employers need to be aware of two important super changes.

Firstly, from 1 July 2022, employees can be eligible for super guarantee (‘SG’), regardless of how much they earn. This is because the $450 per month eligibility threshold for when SG is paid has been removed.
Note, employers only need to pay super for workers under 18 when they work more than 30 hours in a week.
Furthermore, the SG rate will increase from 10% to 10.5% on 1 July 2022. Employers will need to use the new SG rate to calculate super on payments they make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July. Employers should update their payroll and accounting systems to ensure they continue to pay the right amount of super for their employees.

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Greg Taylor

Founder

Greg is a former Senior Detective with the New South Wales Police Force with 20 years policing and over 10 years accounting experience, Greg is able to provide clients with a wealth of knowledge and experience to ensure their business is in top shape.

Greg holds a Diploma of Accounting, Graduate Certificate in Management and a Graduate Certificate in Commerce. He is a Fellow of the National Tax & Accounting Association, a Registered Tax Agent.

Greg is also Xero and MYOB Certified and holds a Public Practice Certificate from the National Tax and Accountants Association.

During his career Greg has held Executive positions on the Orange Business Chamber and been a Director of the Business Enterprise Center in Orange. He has also held a number of board positions with the Rotary Club of Orange Daybreak and the Rotary Club of Oberon.

Alison Taylor

Practice Manager

Alison has over 25 years’ experience working in administration, with roles as Executive Secretary, Marketing Assistant and Personal Assistant. Alison has gained a Diploma of Business (Marketing) with Distinction from TAFE NSW and has recently been awarded XERO Certified Advisor status.

Alison has worked in a broad range of industries including engineering, retail, wholesale, medical and design.

Alison’s broad industry experience and in-depth business knowledge are an asset to both our team and our clients.

Chris Taylor

Senior Forensic Accountant

Chris Taylor has over 20 years commercial accounting experience within various organisations providing him with core competencies in the areas of; financial and management accounting, business valuations, business reconstruction, insolvency and fraud risk. Following his Bachelor of Economics degree in 1998 Chris earned his Master of Accountancy from the University of New England in 2000. In 2012 Chris was admitted to the degree of Master of Forensic Accounting from the University of Wollongong.

Chris has been an advocate in establishing fraud and internal controls as an integral component in managing the risk of fraud within the hospitality industry. Known as a forensic thinker, Chris has provided hotel/resort owners, managers and employees with expert counsel in the fields of forensic accounting and fraud risk management. Through a combination of expertise in accounting and economics he is also qualified to quantify economic damages.

Chris has acted on behalf of creditors in insolvency proceedings as Accountant and financial adviser; restructured businesses and debt to accommodate changed business circumstances; negotiated purchase and sale of businesses, and overhauled business processes to favorably impact clients' bottom line. Chris has conducted financial and corporate compliance investigations involving construction companies, building contractors, restaurants and hotels.

Chris is a member of the Association of Certified Fraud Examiners, Fellow of the Institute of Public
Accountants and holds an Accounting Public Practice Certificate.

Chris Tao

Senior Accountant

Chris is a qualified CPA with 10yrs + of professional experience in various positions as a Management Accountant, Business Analyst using extensive knowledge, expertise and skills in Reporting, Business Analysis and Accounting across Telecommunication, Hospitality and Accounting industry. he successfully provided assistance in all aspects of sales, business research, accountancy and business administration with demonstrated computer literacy and experience in using spreadsheets, word, power point and ERP to complete statistical data analysis. He has proven strong communication and interpersonal skills, communicated with confidence and sensitivity at all internal and external levels. He is also well known for meeting organizational objectives, proactive project management, analytical skills and potential to pick up organizational culture quickly.