Recent Beam News:
Xero Price Increases
Industry leader Xero have recently announced that there are further increases coming to their pricing. We are hearing it across many sectors and all over the media of late, I am sure you are too! Costs of living generally have increased across the board!...
National Minimum Wage Increase
The Fair Work Commission has announced on Monday 3rd June that the National Minimum Wage will increase by 3.75% from 1st July 2024. National Minimum Wage increase From 1 July 2024, the National Minimum Wage will increase by 3.75%. The new National Minimum Wage...
End of Financial Year Preparation & Planning
Here are a few ways to maximise opportunities and navigate challenges effectively, as we get closer to EOFY! How can it almost be end of financial year! As the end of the financial year creeps upon us ever so quickly, planning and keeping focused on your accounts is...
Jobsaver: Time Critical Tips
We hope you enjoyed a relaxing long weekend.
We wanted to take the opportunity to share with you 4 pieces of what we consider to be time critical tips for you to consider and action if they apply to you:
How to treat Public Holidays & Standdown Hours
as Monday 4th Oct was a public holiday and you have employees on standdown you may need to process this week’s pay differently. This may also have an impact on what Covid Disaster Payment amount your employees are claiming from Services Australia. Employees who are stood down without pay by their employer under the Fair Work Act are still entitled to be paid for public holidays that fall during the stand down period. This applies if the employee would normally have ordinary hours of work falling on the day of the public holiday.
When do Jobsaver Applications Close?
At this stage, applications close for Jobsaver on 18th October. If you feel your turnover has declined by 30% or more since 26/6/21 and that decline is due to Covid Restrictions please reach out to either us or your accountant so an assessment can be made and if found eligible an application lodged before time runs out.
When does the Covid Disaster Payment for employees who have been stood down end?
Based on what is planned at this stage, as double dose vaccinations %’s rise and movement restrictions ease these payments will taper off and eventually come to an end:
- Automatic payment will end when we hit 70% vaccination rates.
- If still affected by movement restrictions after that, employees will need to reapply for the payment each week
- The first week after we reach 80% vaccination rates the payment drops to a flat rate of $450 if the employee is not receiving an eligible Centrelink or DVA payment or $100 if they are
- Automatic payment will end when we hit 70% vaccination rates.
- The second week after we reach 80% vaccination rates the payment drops to a flat rate of $320 if the employee is not receiving an eligible Centrelink or DVA payment or $0 if they are
- From the third week, there will be no more applications for the Covid Disaster Payment even if your area is affected by movement restriction.
- The second week after we reach 80% vaccination rates the payment drops to a flat rate of $320 if the employee is not receiving an eligible Centrelink or DVA payment or $0 if they are
At present it is predicted we will reach these vaccination levels on the below dates:
- 70% believed to be Monday 11th October
- 80% believed to be either Monday 18th or 25th October
- 70% believed to be Monday 11th October
Reconfirming your eligibility
From 27/9 onwards until Jobsaver ends you will be prompted to reconfirm your eligibility on headcount and turnover retrospectively before funds are paid to you for each fortnight going forward beginning with the fortnight ending 10th October.
If you have any Jobsaver questions please don’t hesitate to reach out to us.