Super, Pensions and Benefits
Superannuation and Veteran’s Pension rates increased on 1 April 2016. The rates (before tax) for a married couple will be $671.48, $443.43 a week for a single person living alone and $407.53 for a single person sharing accommodation.

Benefits for main beneficiaries and rates for student allowance recipients with dependent children will increase by $25 a week after tax.

Working for Families rates will increase for low income working families by up to $12.50 and $24.50 for very low income working families.

FBT Rate for Low Interest Loans
If you make low-cost loans available to employees, the rate of interest that applies for fringe benefit purposes has been reduced to 5.77%. This rate applies for your FBT return for the quarter beginning on 1 January 2016 and subsequent quarters.

Minimum Wage
From April, the minimum wage will increase from $14.75 to $15.25 per hour. Training and new entrants’ minimum wages will increase from $11.80 to $12.20 per hour

Health and Safety
Changes to health and safety laws take effect from 4 April 2016. The new law says you need to take reasonably practical steps to manage any critical risks – those that could cause illness or injury serious enough to keep someone off work. Have you assessed how the new laws affect your business and implemented anything you need to? If not, contact us for more information on the rules.