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Bill to reduce student debt now law
By WSC Group | Created on September 3, 2025
Legislation has recently been enacted which delivers on the 2025/26 Federal Budget announcement to reduce student debts.
RBA cuts rates to 3.60%: what this means for you
By WSC Group | Created on September 3, 2025
In a widely anticipated move on 12 August 2025, the Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut, lowering the cash rate from 3.85% to 3.60%, the third reduction this year. This rate is now at its lowest level since March 2023 signaling renewed monetary easing amid persistent economic fragility.
Non-compete clauses: the next stage
By WSC Group | Created on September 3, 2025
Back in March this year the Government announced its intention to ban non-compete clauses for low and middle-income employees and consult on the use of non-compete clauses for those on higher incomes. The Government has indicated that the reforms in this area will take effect from 2027. This didn’t come as a complete surprise as the Competition Review had already published an issues paper on the topic and the PC had also issued a report indicating that limiting the use of unreasonable restraint of trade clauses would have a material impact on wages for workers.
PAYGW reminders for activity statement lodgments
By WSC Group | Created on September 3, 2025
The ATO will be sending certain employers a reminder to lodge their activity statements.
Creating a more dynamic and resilient economy
By WSC Group | Created on September 3, 2025
The Productivity Commission (PC) has been tasked by the Australian Government to conduct an inquiry into creating a more dynamic and resilient economy. The PC was asked to identify priority reforms and develop actionable recommendations.
ATO to include tax 'debts on hold' in taxpayer account balances
By WSC Group | Created on September 3, 2025
From August 2025, the ATO is progressively including 'debts on hold' in relevant taxpayer ATO account balances.
Small Business Superannuation Clearing House is closing
By WSC Group | Created on September 3, 2025
The Small Business Superannuation Clearing House ('SBSCH') will close on 1 July 2026.
A win for those carrying student debt
By WSC Group | Created on September 3, 2025
In support of young Australians and in response to the rising cost of living, the Australian Government has passed legislation to reduce student loan debt by 20% and change the way that loan repayments are determined. This should help students significantly more than the advice from outside of Parliament - cut down on the smashed avo.
ATO AFCX data-matching program
By WSC Group | Created on September 3, 2025
The ATO will acquire relevant account and transaction data from the Australian Financial Crimes Exchange ('AFCX') for the 2025 to 2027 income years, including the following:
Superannuation guarantee: due dates and considerations for employees and employers
By WSC Group | Created on September 3, 2025
On 1 July 2025 the superannuation guarantee rate increased to 12% which is the final stage of a series of previously legislated increases. Employers currently need to make superannuation guarantee (SG) contributions for their employees by 28 days after the end of each quarter (28 October, 28 January, 28 April and 28 July). There is an extra day’s allowance when these dates fall on a public holiday.
