Online Queries in Xero




 

Comments

Post a Comment

Popular posts from this blog

Your FY2025 Business Budget

  As we move into the new financial year and continue to navigate the challenges of inflation, now is the ideal time to establish your FY2025 Business Budget. A business budget is not just a financial plan—it is a strategic tool that guides your business’s operations, ensuring financial stability and supporting growth. By outlining expected revenues and expenses, a budget allows you to allocate resources efficiently, plan for future investments, and manage cash flow effectively. This forward-looking approach enables you to set realistic goals, track performance, and make informed decisions. Moreover, a well-crafted budget helps you anticipate potential financial challenges, allowing you to take timely corrective action to avoid shortfalls. The process of creating a business budget involves several critical steps: 1. Review Historical Financial Data: Start by analyzing past financial records to identify trends in income and expenses. This historical insight provides a solid fo...
Read more

Australia’s New Wage Theft Laws: What Employers and Payroll Managers Must Know

  On 1 January 2025, Australia introduced landmark legislation aimed at combating wage theft—intentional underpayment of wages. These new laws elevate wage theft to a criminal offence, sending a strong message that deliberate underpayment will not be tolerated. Employers and payroll managers must act now to understand these laws, ensure compliance, and avoid significant penalties. Key Features of the Laws Criminalisation of Wage Theft Intentional underpayment is now a criminal offence. Employers found guilty may face fines, and individuals—including payroll managers—risk imprisonment. Clear Definitions Wage theft includes deliberate failures to pay wages, superannuation, entitlements, or penalty rates in line with industrial agreements or legal requirements. Increased Penalties Severe fines for organisations and personal liability for responsible individuals are now in place. Enhanced Enforcement Regulators like the Fair ...
Read more

Major Underpayment Discovered in Australian Private Healthcare Sector

  A significant underpayment issue has surfaced within one of Australia’s largest private hospital operators, Healthscope, revealing an estimated $21.7 million in unpaid wages. This affects hundreds of disability service workers and possibly several nurses who may not have received their full entitlements. Healthscope, a prominent national private hospital operator and healthcare provider, reported to the Australian Securities and Investments Commission (ASIC) in April that it had engaged external advisers to thoroughly investigate the extent of these underpayments. The company stated in its report, “While this review is ongoing, based on analysis undertaken during the financial year, Healthscope has recorded provisions of $21.7 million.” Operating 38 private hospitals across Australia, Healthscope is currently addressing two main issues related to staff payments. One involves historical underpayments affecting 500 current and former employees at Healthscope Independence Serv...
Read more