Morrison Accounting Pty Ltd

Changes that may affect your business from 1st July, 2025

From 1 July 2025 there will be changes for businesses, including:

➡️ Business name and company registration fees will increase.
➡️ National Minimum Wage increase by 3.5%.
➡️ Super guarantee rate increase to 12%.
➡️ Environmentally Sustainable Procurement Policy will apply to three additional procurement categories.
➡️ The Australian Taxation Office (ATO) will pay superannuation on government funded Parental Leave Pay.
➡️ No longer able to claim a tax deduction for any ATO interest incurred on or after 1 July 2025.
➡️ Eligible small businesses with electricity bills may receive up to $150 in energy bill rebates.
➡️ Skilled visa income thresholds will increase by 4.6%.

Also, from 26 August 2025 the Right to disconnect will apply to small businesses.

Read our latest news article to find out more: https://business.gov.au/news/changes-for-businesses-from-1-july-2025

Applications are now open for the Spirit Preparedness Fund! With delays in launching the new Spirit of Tasmania vessels, the tourism and hospitality sector faces some challenges. This fund supports businesses and local councils prepare to respond to visitor demand and improve the visitor experience in anticipation of the arrival of the new Spirit of Tasmania ships.

𝗧𝘄𝗼 𝗳𝘂𝗻𝗱𝘀 𝗮𝗿𝗲 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲:

For businesses to develop authentic Tasmanian experiences that respond to visitor demand and contribute to the local economy. Grants range from $50,000 to $250,000.

For local councils to invest in key infrastructure such as signage and charging stations, to support increased visitation, particularly in the caravan and motorhome market. Grants range from $100,000 to $500,000.

Applications opened on 𝟮𝟴 𝗠𝗮𝗿𝗰𝗵 𝟮𝟬𝟮𝟱 and close on 𝟮𝟬 𝗠𝗮𝘆 𝟮𝟬𝟮𝟱.
For more information or to apply, visit our funding and support page https://www.business.tas.gov.au/funding

Round 3 of the Business Advice and Financial Guidance program is now open. Apply for funding of up to $1 500 to access specialist financial and business advisory services to help with your business' growth, transition, recovery from unexpected events or in the application of other management strategies. Read more and apply at www.business.tas.gov.au/3BAFG

Backing our small business customers on Xero Day | Xero Blog Xero announces the launch of the Xero Beautiful Business Fund on Xero Day, a new program to back small business customers in the future aspirations.

Claiming work from home expenses this tax time? 🏡 💻

There are two methods available to calculate your expenses, the:
✔️ revised fixed rate method
✔️ actual cost method

You can choose to use whichever method will give you the best outcome, as long as you meet the eligibility requirements and have the right records.

To learn more, see https://www.ato.gov.au/individuals/income-deductions-offsets-and-records/deductions-you-can-claim/working-from-home-expenses/

Changes from 1 July 2022

Giving the gift of charity this festive season? 🎁

Whether you’re donating to your local community group, or an environmental charity, you may be able to claim a tax deduction for your donation!

You’ll just need to check that your chosen charity is a deductible gift recipient (DGR), keep your receipts, and include the amount in your next tax return.

For more info, and to check if your donation is eligible, visit
www.ato.gov.au/individuals/income-and-deductions/deductions-you-can-claim/other-deductions/gifts-and-donations

Today we celebrate International Accountants Day. This is a chance to recognise the vital work accountants do. Accounting is ever-changing and constantly advancing, so we would like to thank you for all the hard work you do to keep businesses running smoothly. Happy Appreciation for Accountants Day!

If you’re a company director, you'll need to apply for a director identification number ( ) by 30 November 2022.

There are 3 steps to apply online:
1️⃣ Set up myGovID
2️⃣ Gather your documents
3️⃣ Complete your application.

Watch our step-by-step demonstration video on how to apply online @ www.abrs.gov.au/director-identification-number