The Australian Tax office (ATO) JobMaker Hiring Credit scheme is an incentive for businesses to create jobs and hire young Australians.

Suppose you have hired additional employees between 7 January and 6 April 2021. In that case, you may be eligible to claim JobMaker Hiring Credit payments for their wages.

Under the scheme, as an employer, you can receive payments of up to:

• $10,400 over a year for each additional eligible employee aged 16 to 29 years
• $5,200 over a year for each additional eligible employee aged 30 to 35 years.

This not only gives a young person a job but also can help with the cost of growing your business.

You can register with the ATO for the JobMaker Hiring Credit here.

You only need to register once before the end of the claim period for the first JobMaker period you want to claim for.

To check your eligibility as an employer, you can find more details here.  Note you cannot also claim JobKeeper at the same time.

If you are approved, payments will be made every 3 months in arrears.

Also, see Small Business Answers guide on hiring staff

Those small businesses using social media to promote their business will be interested in this new announcement from the Pinterest platform.

Pinterest is introducing Idea Pins, its multi-page video format, to all creators in Australia. This new access and capability will empower anyone with a business account to create inspiring content. It will allow you to better interact with your audiences, building more engaged communities directly on Pinterest.

Creators will also have a suite of new publishing tools, including video-first features, new editing tools and updates to create Idea Pins easier and more creative. Idea Pins will appear at the top of the home feed for Pinners, at the top of creator profiles, with curated collections appearing in search and on the Today Tab to introduce creators to new community members and build their audience.

“We believe the best inspiration comes from people who are fueled by their passions and want to bring positivity and creativity into the world. On Pinterest, anyone can inspire. From creators to hobbyists to publishers, Pinterest is a place where anyone can publish great ideas and discover inspiring content. We have creators with extraordinary ideas on Pinterest, and with Idea Pins, creators are empowered to share their passions and inspire their audiences. By helping people on Pinterest spark creativity, try new things, build confidence, and be themselves, we believe creators are truly helping with our mission of bringing inspiration to create a life you love.” – Evan Sharp, Co-Founder, Chief Design and Creative Officer, Pinterest.

In the past month, Pinterest has seen a 9x average comment rate on Idea Pins compared to standard Pins. Allowing brands to build and engage with communities as they see the process of inspiration unfold.

Idea Pins make it easy for creators to publish high quality, long-lasting, saveable content directly to Pinterest. In Australia, creators such as RecipeTin, Taste.com.au, and The Local Project have already grown their audiences, sharing Idea Pins like this intro to a new product and inspiring how to’s. In fact, the number of Idea Pins created daily has grown by nearly 4x since January.* With these updates, Pinterest highlights the people behind the content and encourages Pinners to follow creators and engage with the ideas they find.

Check out Small Business Answers guide to social media to engage customers.

Poly has just announced the newest addition to Poly’s line up of best-selling stereo Bluetooth headsets – the Voyager Focus 2, a smart, wireless headset with next-generation noise-cancelling technology.

A 2020 Gartner survey predicted that 41% of the global workforce are expected to be working at least some of the time post-COVID remotely.
Thus the tools to facilitate this are critical. Given so many meetings will now be done virtually, it is more important than ever to have a headset that can block background noise in any situation. Being able to hear and be heard is critical.

Voyager Focus 2, the latest addition to Poly’s line up of best-selling stereo Bluetooth headsets. Available in Australia now, the Voyager Focus 2 is a smart, wireless headset with amazing audio that’s intuitive and easy to use. Designed to reduce distractions while working from anywhere, the Voyager Focus 2 features Poly’s next-generation Acoustic Fence technology with Advanced Digital Hybrid Active Noise Cancellation (ANC).

“In this work-from-anywhere era where background noise comes at you from all sides, workers are looking for technology that reduces distractions and allows them to focus on what really matters,” said Andy Hurt, Poly MD, ANZ.

“The Voyager Focus 2 is packed with three levels of hybrid ANC, so all you hear is your call. While on the other end, all they hear is your voice – no other background noises – thanks to our high-performance microphones and Poly’s Acoustic Fence technology.”

No background noise

Callers are guaranteed to hear you clearly – not your surroundings – when you’re using the Voyager Focus 2 headset. Poly’s pro-grade noise-cancelling microphone with Acoustic Fence technology provides Poly’s best noise reduction yet, delivering crystal clear sound. Poly’s Advanced Digital Hybrid ANC comes with three settings: high, mid, and off so you can set the right level for your surroundings. A convenient carrying case is also included, so you can take the headset wherever you go.  

Pro-Grade Performance

You’ll never have to worry about forgetting to un-mute. The Voyager Focus 2 has a Dynamic Mute Alert feature that lets you know if you’re speaking while on mute. An online ear cup indicator flashes when you’re on a call for a visual cue to others that you’re busy. Additional smart sensors will help you answer calls and play or pause music. The smart microphone boom will automatically switch left and right audio no matter which side the headset is worn. The headset intuitively mutes the headset when the boom is in the upright position to ensure you are always in control of your call.

Longer Talk Time

Poly has supersized its most popular Voyager Focus headset by extending the battery life in the latest model and providing the option to use it as a corded device, with audio over USB mode. The battery alone will offer a longer talk time, with up to 19 hours

Works the Way You Do

The Voyager Focus 2 headset is available in two different options; the Voyager Focus 2 UC and Voyager Focus 2 Office.

The UC headset connects to mobile phones and PC/Mac via Poly’s new BT700 USB adapter. This ensures a more stable audio connection and extended range when you need to step away from your device while staying connected. It also has a convenient desktop charging stand option to ensure one is always charged plus serves for easy desktop storing.

For those who need to connect to multiple communication devices throughout the workday, the Office headset connects with desk phones, mobile phones, and PC/Mac. The Office version continues to charge in the base when the headset is not in use, so you are always ready to take a call. It can also be used as a wired headset when plugged into the computer’s USB port.

Microsoft Teams Open Office Certification

The Voyager Focus 2 is Microsoft Teams-certified and comes with a dedicated Teams button for instant access to the app. It’s also compatible with Zoom right out of the box to seamlessly support all your collaboration and communications needs.

Poly+ and Poly Lens Supported

For added convenience, the Voyager Focus 2 supports Poly Lens, making it easier for IT teams to troubleshoot and manage devices while working remotely. The Voyager Focus 2 comes with a 2-year limited warranty and access to Poly’s standard support. For additional peace of mind, Poly+ is available, a paid subscription service that offers 24/7 technology support for personal devices worldwide and a third-year warranty.

The Australian Small Business and Family Enterprise Ombudsman Bruce Billson says the Federal Government’s 2021 Budget is a clear acknowledgement that small and family businesses are central to the nation’s economic recovery and future prosperity.

The Budget includes several new, extended and enhanced measures to support small businesses including:

–       $129.8 million to encourage entrepreneurship through the New Enterprise Incentive Scheme (NEIS) and Entrepreneurship Facilitators Program

–       $1.2 billion investment in the digital economy

–       $10 billion guarantee of reinsurance pool to cover cyclone and flood damage across Northern Australia

–       $506 million extension of federal government’s JobTrainer program

–       $10 million over four years on small business deregulation agenda

–       $11 million over three years for national recognition of occupation licences

–       Tax system reform for small business

–       $4.3 million to establish the Mandatory Franchise Disclosure Registry

–       $2.6 million to improve access and awareness of Commonwealth procurement opportunities

“Tonight’s budget represents a substantial financial and strategic commitment to making Australia the best place to start, grow and transform a business,” Mr Billson says.

“These measures will support small and family businesses as they help lead our national economic recovery and play a critical role in securing our future prosperity.”

Encouraging Entrepreneurship:

The Federal Government will spend $129.8 million on consolidating and expanding small business and entrepreneurial services to support people who want to start, run and grow their own business.

“This initiative will help put the wind in the sails of fledgling small businesses and encourage the Australian entrepreneurial spirit,” Mr Billson says.

“The number of New Enterprise Incentive Scheme (NEIS) places will lift from 8,600 to 12,000 per year for people looking to create their own start-up livelihoods.

“It will also support existing micro-businesses to adjust to changing labour market conditions to ensure these businesses remain viable and resilient to changes in the face of turbulent trading conditions.”

Digital Economy Strategy:

The Federal Government has pledged $1.2 billion towards enhancing the digital economy, including a 30% tax offset for the video game industry.

“This $1.2 billion investment will encourage greater digital adoption by small and family businesses, to ensure they are globally competitive,” Mr Billson says.

“We welcome the Australian government’s commitment to help SMEs build their digital capacity and drive business up-take of e-invoicing.

“With 1.2 billion invoices exchanged in Australia every year, making the switch to e-invoicing would add an estimated $28 billion to the Australian economy over 10 years. For SMEs, we know e-invoicing streamlines productivity and improves cash flow with reduced admin and faster payments.”

“$12.7 million will be spent on expanding the Australian Small Business Advisory Service Digital Solutions program to reach as many as 17,000 small businesses.”

Mr Billson particularly welcomed the support provided to the Australian video game industry, which is comprised of many high growth potential small businesses and start-ups.

“My office has been a vocal supporter of the Interactive Games and Entertainment Association (IGEA) which estimates Australia could create a $1 billion industry in game development, providing export revenue and employing an additional 10,000 full time workers with the right support,” Mr Billson says.

“This 30% tax offset is an excellent support measure to help Australian video game producers take a greater share of the $250 billion global game development market.”

Insurance:

Mr Billson welcomed plans for a reinsurance pool to be backed by a $10 billion Australian Government guarantee to cover cyclone and flood damage across Northern Australia from July 1, 2022.

He says the scheme, which is broadly in line with a recommendation in ASBFEO’s Insurance Inquiry, will make a significant difference.

“This is certainly a welcome step in the right direction when it comes to ensuring essential insurance coverage is accessible to small businesses,” Mr Billson says.

“Our Insurance Inquiry revealed that too many small businesses have been crippled by rising insurance costs and some can’t get it at all.

“A reinsurance pool will go some way to addressing this key barrier for small businesses in Northern Australia.”

Mr Billson says he also recognises barriers still exist for SME insurance coverage in other parts of Australia.   

“In the course of our Insurance Inquiry, we spoke to over 800 small businesses – about 12% of those were from Northern Australia,” Mr Billson says.

“That means there are still many small businesses out there experiencing difficulties with accessing necessary and affordable insurance coverage.

“My office is ready and willing to work collaboratively with the government, relevant agencies and the insurance industry towards making essential insurance products affordable and accessible for small businesses across the country.”

JobTrainer:

The JobTrainer program will be extended for another 12 months, as part of a $506 million package to support SMEs to employ apprentices and trainees with a 50% wage subsidy of up to $28,000 per year.

“JobTrainer has proven to be a highly effective incentive for SMEs to take on new apprentices and trainees,” Mr Billson says.

“The cost of apprentices and trainees can be significant as they learn the ropes, so small businesses will welcome the extension of this wage subsidy.

“JobTrainer will also offer thousands of young Australians low-fee or free courses – critically in fields where small businesses are struggling to find staff.”

Deregulation Agenda:

The Federal Government will spend $134 million over four years on its deregulation agenda, including investing in regulatory technology (regtech) to support smaller employers comply with modern awards, provide data on pay and conditions and help with accuracy in payroll software.

“Small business owners are hard-working, time-poor and don’t have the systems or resources needed to deal with onerous compliance requirements,” Mr Billson says.

“Research shows a small business hiring its first worker can spend up to 18 hours getting their head around awards, pay rates, tax, OH&S and record-keeping obligations.

“This government investment in ‘regtech’ is a positive step towards making it easier for small businesses to pay wages and entitlements correctly and on time, recognising how much they value their team.”

$11 million will be invested in the implementation of automatic mutual recognition of occupation licences across states and territories.

“This will help small business tradespeople who want to meet the demand for their skills in different areas of the country,” Mr Billson says.

Tax system reform:

Small businesses in dispute with the ATO will get a fairer go, under new rules proposed in tonight’s budget.

Mr Billson welcomed the pledge to give the Administrative Appeals Tribunal (AAT) greater powers to pause or change debt recovery actions applying to a small business in dispute with the ATO.

“Small businesses disputing an ATO debt in the AAT will get a fairer go by stopping the ATO from relentlessly pushing on with debt recovery actions against a small business, while the case is being heard,” Mr Billson says.

“I commend the government which has acted quickly to implement a key recommendation in our recently released report: A tax system that works for small business which will allow small businesses to pause ATO debt recovery actions until their case is resolved by the AAT.

“Currently, small businesses are only able to pause or modify ATO debt recovery actions through the court system. This can be prohibitively expensive and time consuming for a small business.

“Under the proposed changes, small businesses can save thousands of dollars in legal fees, not to mention up to two months waiting for a ruling.

“In line with our recommendation, the AAT will be able to pause or modify ATO debt recovery actions, such as garnishee notices, interest charges and other penalties until the dispute is resolved.

“It means that rather than spending time and money fighting in court, small business owners can get on with what they do best – running and growing their business.”

Employee Share Scheme:

The Government will help Australian businesses to attract and retain staff by removing cessation of employment as a taxing point for the tax-deferred Employee Share Scheme (ESS) and reducing red tape for ESS.

Instant Asset Write-Off:

Small businesses can continue to write-off the full value of assets purchased until 2023.

“This one year extension of the uncapped instant asset write-off is a big win for small businesses,” Mr Billson says.

“It gives small businesses more time and certainty to plan and buy major equipment. It significantly reduces the need for depreciation and cuts red tape.”

Loss Carry Back:

“The loss carry back provision will also be extended to June 2023,” Mr Billson says.

“This is a tax initiative that effectively allows a small business to carry back tax losses from 2022/23 income year to offset previously taxed profits as far back as 2018/19, to support business recovery.”

Payment times:

The Government is committing an additional $16 million to ensure effective implementation of the Payment Times Reporting Scheme, which has been in effect since 1 January, 2021.

“This reporting framework requires big business to be upfront and honest about the time it takes to pay their small business suppliers,” Mr Billson says.

“Cash flow is king for small business and we know that if small businesses are paid on time, the whole economy benefits. AlphaBeta estimates if large businesses pay small businesses in 30 days, the net benefit to the economy is $313 million per year.”

Mandatory Franchise Disclosure Registry:

A Franchise Disclosure Registry is set to be established at a cost of $4.3 million. The registry will require franchisors to lodge disclosure documentation about their franchise annually.

“This is about improving transparency of franchise operations and providing prospective franchisees with vital information they need before entering into a franchise agreement,” Mr Billson says.

“My office has advocated for the implementation of this registry as a key component of effective due diligence all prospective franchisees should undertake before entering into a franchise agreement.”

SME procurement:

The Australian Government will provide $2.6 million over 4 years to support and strengthen SME participation in procurement, including mapping common pain points for SMEs.

MYOB says incentivising digital adaptation worth $10bn economic injection

Nearly half a million Australian SMEs have no or very low levels of digitisation in their business and getting them online would be worth a $10 billion injection to the Australian economy, says business management platform MYOB.

MYOB calculates 466,062 SMEs – approximately 20% of the 2.29 million* sector – are not engaged with digital tools across critical areas of their business workflow, such as compliance and supplier management.

Fresh research of 1000 SMEs from MYOB** delves further into typical digital use among the small business community, finding 40% of businesses use digital cloud-based software for work in progress (WIP) management, 38% for managing their people and 37% for growth opportunities, such as marketing. Just 26% of SMEs are connecting with their customers on social media.

With SMEs with advanced levels of digitisation 50% more likely to grow revenue***, MYOB views support packages that bridge the digital gap for the one in five left behind as an economic imperative. MYOB forecasts a 1.8 per cent increase in the SME GDP contribution, or a $10.5 billion gain for the Australian economy, if remaining SMEs are brought up to speed.

MYOB’s Chief Employee Experience Officer Helen Lea says the most effective tool Government has at its disposal is the tax system and cloud-based software as a service (SaaS) products are the perfect gateway for SME digitalisation.

“Our new research tells us 24% of SMEs are worried new technology is too expensive and a further 24% don’t have the time to set it up.  Of the businesses who digitised during the pandemic, 39% found themselves to be more productive and 34% were more profitable. Eighty-five per cent said they were able to keep their business running thanks to digital tools.

“For the one in five SMEs at risk of being left behind, a tax incentive that is easy for businesses to engage with, that is pointed out to them by their accounting and bookkeeping advisors with whom they speak regularly, will remove a significant hurdle to digital adaptation. Our research supports this: 27% of respondents shared that an incentive, such as a tax deduction, would help them get started.

“SaaS model software is custom built for the SME way of working. Cloud-based SaaS products allow businesses to work however and wherever they like and the subscription model allows a business to grow their software use with their operations.

“We are recommending to Government that they consider a refundable rebate on new SaaS subscriptions for SMEs with 0-199 employees, with a tiered incentive structure to promote end-to-end digitisation of businesses. This change alone we predict is worth $10.5bn to our economy in the short term.

“If you combine this with the annual saving of $23.5bn afforded by a mandatory introduction of B2B e-invoicing, adoption of which could also be motivated by this SaaS incentive, it’s a pretty compelling case for putting our trust in small businesses as Australia’s economy recovers and grows.”

MYOB has released a white paper outlining its SaaS tax incentive proposal in full. It can be accessed here.

More information from Small business Answers on selecting accounting software can be found here.