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Public Holiday - 22 September 2022

Following the passing of Her Majesty The Queen, the Prime Minister of Australia has declared Thursday 22 September 2022 as the National Day of Mourning and that this day will be recognised as a national public holiday.

As consequence, this day will be a non-business day for Australian payments. No payment processing will occur on this day.

For payments that are dated 22/09/2022, these will be automatically processed on the next business day being Friday 23 September 2022.

STP Phase 2 Update

As mentioned in our previous newsletter, Stage 1 in Xero was to be activated online from late August. What we have found out is that Xero are progressively rolling out this functionality, which is why it may not be available to you just yet. We suggest checking in to the STP menu (in the blue Payroll menu) once a week. 
Xero's STP Phase 2 Employee Profile - Fact Sheet

Insurance Accounts (S5) & Interest

As in previous years, we continue to offer churches the ability to pay their annual insurance premium over a number of months, with the final payment to be made no later than the 30th June 2023.
 
After many years of offering this as a free service, we now have a small interest charge for holding the insurance premiums.  An interest rate of 2% p.a. will be applied monthly to the balance in arrears.  Interest charge will commence one month after Insurance Renewal.  Payment can be made in full upon receipt of renewal notice if you wish to avoid any interest costs. This interest charge will compound on top of your insurance premium; it will all be in the same S5 account. You will pay this off just like your insurance premium, likely through BAPNET. 


Please let us know if you have any questions regarding this change. 
 

Supporting Project 11!

We are very proud to have been a sponsor of the Project 11 Summit, which was held last week. This was a leadership retreat for emerging leaders from all over the QB Movement. It was exciting to see the Holy Spirit move, for the Word of God to be preached powerfully, and to see Christ Jesus glorified. 
It was particularly exciting to chat with some participants who didn't even realise they could serve their church with their finance/administration skills. We would love to support and encourage any young leaders who are interested in this space to contact us - we'd love to create a bit of a network in the future. 

WorkCover

You can view our previous WorkCover calculation fact sheet to help with your declaration. 
WorkCover Calculation

September 2022 Term Investment Rates 

Queensland Baptists (the Fund) is not prudentially supervised by the Australian Prudential Regulation Authority. Therefore, an investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959. Investments in the Fund are intended to be a means for investors to support the charitable purposes of the Fund.
Copyright © 2022 Queensland Baptists, All rights reserved.


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