2020/21 – Changes that may affect your business

Economic Development Officer - City of Armadale - City of Armadale

The Small Business Development Corporation regularly creates blogs on important issues for WA small businesses. Their most recent blog highlights the changes that have come into effect from 1 July 2020.

These changes include:

  • New minimum wage for businesses operating under the federal industrial relations system and the WA state industrial relations system.
  • Last round of changes to Sunday penalty rates in retail, hospitality and pharmacy national awards will start on 1 July 2020.
  • Extension of the instant asset write-off to December 2020.
  • Payroll tax threshold increase brought forward to 1 July 2020.
  • Company tax rate decrease to 26 per cent for the 2020-21 financial year for base rate entities.
  • Work-related car expenses increased from 68 to 72 cents per kilometre.
  • Potential access to the second instalment of early access superannuation.

Read the full blog.

Economic Development Officer - City of Armadale - City of Armadale