SETTING YOUR BUSINESS GOALS FOR THE NEW FINANCIAL YEAR

The start of a new financial year is the perfect time to review your business and financial goals. 

Ask yourself these questions: 

1. Have you prepared your budget for the new financial year? 
2. What growth have you aimed for? 
3. How will you achieve it? 
4. Will your targeted growth cause you any cashflow or funding problems? 
5. Have you put your vision and goals for your business in writing? 
6. Have you shared them with your Team? 
7. Does your Team share your Vision? 
8. Does each member of your Team know what role they will play in achieving both your goals for this financial year and the vision you have for your business? 

These are questions every business owner should ask themselves constantly and have the answers written down at the start of each financial year.

If you aren’t sure of the answers to any of the above please contact us.  We’d love to catch up and help you to come up with the solutions for all of the questions above. 

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2018 ANNUAL WAGE REVIEW

The Fair Work Commission has announced a 3.5% increase to base rates of pay, which is effective as at 1 July 2018. The increase applies from the first full pay period on or after 1 July 2018.  

The increase only apples to employees that get their pay rates from one of the following: 

• The national minimum wage 
• A modern award, or 
• A registered agreement  

The increase won’t affect any employees who are currently already receiving the more than the minimum wage.  

You can find the relevant pay guides here. The pay guides have minimum rates for full-time, part-time and casual employees in an award. They also include all allowances and the most frequently used penalty rates for each classification.   

Did you know that we assist clients in reviewing their payroll rates and current awards to ensure they are complying? If your payroll requires a review, contact any of our GeersSullivan team members to discuss further.  

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