Pre-mixed investment options
Super funds make investments depending on the different levels of risk chosen. There are 5 types of pre-set investment options which you can choose for your superfund. Remember that if you want… Read More
What you can salary package
Salary packaging allows you to create a ‘package’ of income and benefits. In your salary package, you can include benefits that you would usually pay for with your income after-tax. These include… Read More
What isn’t covered in a will?
If you are thinking about writing a will, it can be helpful to know what not to include as much as it is to know what you do need to include. The… Read More
How to respond to difficult employees
Every now and then, you might come across an employee who is particularly difficult to handle. A difficult employee could be one who is incompetent, doesn’t follow instructions, behaves rudely in the… Read More
Benefits of content marketing
Creating consistent content for social media has many benefits: Posting good content on a regular basis increases audience retention. Your customers and followers will derive a positive experience from your social media… Read More
Four types of entrepreneurs
There are different types of entrepreneurs, defined by their perspectives and goals. Builder Individuals in this category will want to create a business that is scalable within a short period of time.… Read More
What is trauma insurance?
Experiencing a serious illness or injury can prevent individuals from returning to work. Trauma insurance can help support families through particularly tough times and pay for costs that may arise from medical… Read More
What you need to know about luxury car tax
Luxury car tax or LCT is a 33% tax on cars that have a value (including GST) above the set threshold. However, the tax is only on the value which is above… Read More
Pros and cons of home reversion
Super (AU): Pros and cons of home reversion Home reversion is when you sell a share of the future value of your home whilst still living there. You receive a lump-sum payment… Read More
Employer liability in remote working conditions
Now that businesses must have a better idea of the working conditions they will be adopting in 2021, it’s ideal to consider how employer liability changes. The health and safety of employees… Read More
What to do before you buy a business
Buying an existing business can be a great entryway into being a business owner – but it does come with challenges. Following these steps might make it easier for you to make… Read More
Signs of unauthorised and mistaken transactions
When checking through your transactions, you might come across a transaction that doesn’t look right. If this is the case, you should get into contact with your bank as soon as possible.… Read More
Continuing situation between China and Australia proving detrimental for both countries
China has imposed restrictions for imports from Australia for various items. Although, this might not have had the impact that China had first wanted. China makes up a large part of the… Read More
Dealing with job dissatisfaction
Job dissatisfaction can have a significant impact on your life. It will affect your productivity at work and your mood both at and after work. Therefore, it can’t simply be ignored. Instead,… Read More
Records you need to keep on rental properties
When you own a rental property, keeping records is important. These will help you meet tax obligations. Generally, only individuals with their names on the title deed declare income and claim expenses.… Read More
Sudden lockdown in Victoria costs the economy
New COVID-19 cases resulted in Victoria going into a short lockdown. Although the lockdown itself wasn’t very long, the estimated damage to the economy was high. Experts are saying that the short… Read More
Starting a second business
Starting a business needs a lot of preparation, time and effort. Therefore, running two businesses at the same time means that your workload is even greater. You may choose to start another… Read More
Managing mobile phone use in the workplace
Leaving mobile phone usage in the workplace unmanaged can lead to problems down the line. If employees use their phones during work hours too frequently, then this can lead to: Lack of… Read More
Features your website needs
These are features you should make sure you have on your website: Your contact information should be easily accessible. Potential customers should know how to get in touch with you if they… Read More
Ways you can manage your stress
There are various causes of stress that make it difficult to have just one method of stress management. There are 4 methods you can use in response to stress: Avoid: Sometimes the… Read More
Repairing errors in your credit score
Your credit score can affect loans and credit you apply for. You are able to have errors on your credit report fixed for free. The following are typical errors in credit reports,… Read More
Business management styles you should avoid
The business management style you adopt will depend on the needs of your business, what motivates your employees, and your style of work. Therefore, you do have some flexibility when it comes… Read More
What is the transfer balance cap?
The transfer cap refers to the amount of money that can be transferred from your superannuation account to your tax-free ‘retirement phase’ account. At the moment, the transfer balance cap is $1.6… Read More
Effectively setting deadlines for yourself
Setting deadlines for yourself whether for work or for personal goals is often encouraged so that you can effectively manage your time. However, it is difficult to hold yourself accountable. You can… Read More
What could happen if Google pulls search
Small businesses rely on their digital presence to attract new customers and stay afloat. This is because Google search helps attract customers outside the immediate local area so that businesses can gain… Read More
Potential goldmines to look out for when buying property
When buying a home, there are some things to look out for which add value to a property and will help you make more profit down the line. If you are tossing… Read More
How you can use a webinar for business
Webinars are online conferences that have become much easier to host with technological advances. They are also cheaper and, if used correctly, can be beneficial for your business. Build brand authority and… Read More
When it’s okay to ask your coworkers for help
People often perceive asking for help as a weakness, but sometimes, asking for help demonstrates strength. It shows self-awareness and a willingness to learn and grow. If you find yourself in the… Read More
The types of benefits businesses should consider for their employees
n Australia-wide survey asked employees what benefits they would most want from their employers. The following are the top 10 benefits: Flexible working Discounts on electricity, gas and water Continued education options… Read More
Choosing investment options in your super
Many Australians ignore the decision of choosing investments for their super and often end up in the ‘default’ option as they make no effort to choose otherwise. Default options that aim for… Read More
The amounts you don’t need to include as income
Amounts which are not classified as income are split into 3 categories. Exempt income This is income that you do not pay tax on, although, some exempt income may be taken into… Read More
Tax treatment of insurance payments for damaged or destroyed property after a disaster
The Australian weather can be unpredictable, resulting in intense weather conditions. Bushfires, severe storms or floods can cause personal properties and assets a lot of damage. In the case that this does… Read More
5 Reasons you should start a business as a retiree
Retirement is a great time to explore the interests and passions you did not get to when you were working. Becoming an entrepreneur could be one of those things. The following are… Read More
How to ask for a promotion
Asking for a promotion is one of the most anxiety-inducing things a person has to do as an employee. It might help reduce some of your anxiety if you follow these steps.… Read More
Improve communication in the workplace using technology
Technology has the potential to facilitate efficient communication within the workplace. Connect Employees Employees in different locations and departments of a business are able to communicate with each other better through technology.… Read More
Types of partnerships
There are three types of partnerships. The partnership type you choose will depend on what best suits the partners involved. General Partnership (GP) All partners involved will be equally responsible for the… Read More
Customer service strategies to avoid liability lawsuits
Implementing these customer service strategies will help your business avoid liability lawsuits Conduct follow-ups during the project During a project, both you and the client can get busy with running the business… Read More
SMSF Pensions
SMSF funds can provide pension or lump sum benefits during retirement. Retirement is a condition of super release if you have reached your preservation age. Depending on your date of birth, your… Read More
Stay on top of your credit cards
The following are some tips which will make it easier for you to stay on top of your credit card payments so that you can worry less and save more. Pay on… Read More
How you can improve your networking skills
Networking and developing contacts in your field can present you with many opportunities. Although, networking is difficult because you want to maintain professionality whilst improving your relationships with your peers. You can… Read More
How will the Australian economy perform after JobKeeper and JobSeeker end
The RBA created forecasts of how the unemployment rate in Australia will perform in the coming years in May 2020. Astonishingly, unemployment rates are lower than the forecasted best-case-scenario. This is an… Read More
Preserving your customer’s confidentiality
Customers trust businesses with a lot of personal information and it is the business’ responsibility to maintain confidentiality. Businesses should take relevant precautions to ensure that the privacy and personal information of… Read More
Protect your business’ intellectual property
Intellectual property (IP) is a valuable asset to any business. It can be anything from a manufacturing process to a trade secret – it is essentially intangible proprietary property. Protecting IP has… Read More
Calculating how much super you will need when you retire
Calculating how much super you will need will help you decide whether you should be contributing more to your super. You can utilise salary sacrifice schemes to increase contributions, especially if you… Read More
Trustees and beneficiaries registering for tax in trusts
Trusts have their own tax file number (TFN) that should be used to complete tax returns. Trusts are also able to apply for an Australian business number (ABN) on the condition that… Read More
Basics of SMSF investing
Setting up an SMSF fund is the simplest step. Establishing a fund which delivers you consistent returns from your investments is much more difficult. Investing successfully involves determining precise goals and picking… Read More
Improving your LinkedIn presence as a business
Although other social media platforms can be more casual, having a strong LinkedIn presence can be helpful to form partnerships and onboard skilled team members. The steps to building an engaging and… Read More
Protecting your business from cyber security threats
Taking your business online opens up many new opportunities but it also opens up new threats. Taking these steps will help protect your business from cybersecurity threats. Backup your data: Backing up… Read More
How you can be more strategic and successful in 2021
2020 brought about many challenges and changes but also taught businesses many skills which should be continued into 2021. In 2021, businesses can achieve growth and success by applying what they learned… Read More
Australian economy may not recover entirely after the pandemic
Australia’s economy suffered deeply during the pandemic, as did the rest of the world’s. However, declining trade relations between China and Australia caused potentially irreparable damage to the economy. China is Australia’s… Read More
Overcoming public speaking anxiety in the workplace
There will come a time, where no matter how much you despise it, you will need to speak in front of an audience. Being afraid of public speaking is fairly common and… Read More
Things you should do every time you get paid
It can be tempting to treat yourself on payday, but in the long run, planning your spending will be more rewarding. Creating a payday routine will help you pay your bills on… Read More
How you can improve your company’s shipping department
Effective shipping is essential in a world where online shopping is so popular. Businesses can suffer if their orders are not being shipped on time or if they are not regularly updating… Read More
Taxation of your unused leave when leaving a job
When your job ends, whether there has been a termination of employment or redundancy you will receive a payment for unused leave. This payment will be taxed differently from your normal income.… Read More
How do people use the internet?
Each person uses the internet in a different way. Whether they regularly access the internet for their job or only go on it to watch movies and shows, users have found a… Read More
Vaccine to boost the economy
Experts have stated that the accelerated rollout of the Coronavirus vaccine will provide the economy and budget with a much-needed boost. The treasurer was against extending the wage subsidies that applied through… Read More
What to include in a cover letter
The goal of your cover letter is to demonstrate why you should be selected for an interview, therefore always make an individualised letter for each job application. Include your relevant contact information:… Read More
What to look out for when investing in regional property
Recent data has shown that more and more people are buying properties in regional areas. With the population of Australia steading increasing, growth won’t be limited to urban areas. Due to this,… Read More
When is taking a pay cut okay?
Taking a pay cut is never easy but there are some situations where it makes sense. Focusing exclusively on the salary could prevent you from looking at other factors which are also… Read More
Responding to negative feedback
The internet and social media have made it all too easy for customers to relay their feedback to businesses. This can be a great thing because it shows other customers or potential… Read More
Protecting yourself from super scams
Superannuation is an attractive target for scammers as a significant volume of funds are placed into super funds by Australians. There are some straightforward steps you can take to protect yourself from… Read More
Fuel tax credits for businesses
The government provides fuel tax credits for businesses with a credit for the fuel tax (excise or customs) that is included in the price of fuel used in machinery, plant, equipment, heavy… Read More
Lodging your business activity statement
Businesses that are registered for GST are required to lodge a business activity statement (BAS). These assist in the reporting and payment of: Goods and services tax (GST) Pay as you go… Read More
Finding your lost super
Changing of name, address or job can mean that you lose track of some of your super. This means that there is money that belongs to you that is not currently in… Read More
Protecting your small business from legal fallout
Protecting your business from legal fallout isn’t at the forefront when you are focussing your efforts on growing your small business. However, it is necessary. You can take the following simple steps… Read More
Collaboration to grow business
Businesses can gain a lot from collaboration, regardless of the industry they are in. The following are some reasons why businesses should care about collaboration. Get inspired As a business, it is… Read More
Using technology to reduce your business’ carbon footprint
Small business owners can integrate technology in order to make their business more environmentally friendly. Firstly, go paperless! This will drastically reduce waste. Where possible, digitalise communication, billing, invoicing, etc. This is… Read More
Defining your brand identity
Defining your brand at the start of your business journey will help establish the direction your brand will grow in. Defining your brand involves identifying key values, building company culture and determining… Read More
Going back to work after a long break
Taking a career break can help give you some needed time off and a fresh perspective on work, however this can make returning to work intimidating. To help you get back into… Read More
Making shareable content for Social Media
Content should be produced with the intention of it going viral and being shared across a broad number of platforms. Although this sounds ambitious, it is a good practice to help ensure… Read More
The difference between short and long term financing
Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers, staff and bottom line. Business owners need to understand the differences between… Read More
How to protect your customers from scammers and spammers on social media
Social media is a key tool for enhancing your company’s reach and reputation, but it does open your company to the risk of being targeted by third-party groups. This increases the risk… Read More
Responding to employees who are experiencing personal crises
Managing an employee who is going through a stressful period personally can be a big challenge for bosses. Handling these situations well as a manager often means you need to be compassionate… Read More
Importance of record-keeping for businesses
For businesses operating in a fast-paced and dynamic environment, the task of keeping records can fall secondary to everyday business operations. However, failing to efficiently keep up-to-date and comprehensive records can hurt… Read More
Establishing a career plan
No matter how old you are, it’s never too late to create a career plan that best reflects what you want from your professional life. Identify your career options: This includes taking… Read More
What do tax audits involve?
Tax audits are conducted when the ATO deems that a more extensive examination of an issue is necessary. These audits can be conducted on a fairly basic level or they can be… Read More
Australia-China trade wars
Australia and China are currently in a trade war which appears to be worsening. China announced bans and tariffs on Australian imports such as wine, barley, beef, coal and more. Although it… Read More
Creating a marketing plan
A marketing plan will help you decide when and how you want to be promoting your products and services. There are various different avenues through which products and services are advertised in… Read More
Responding to conflict in the workplace
Handling conflict in the workplace is a sensitive issue which needs to be dealt with carefully. The following are practical strategies to respond to conflict that may arise: Focus on behaviour and… Read More
The skills necessary to be a business owner
As a business owner, you need to continually update various different skills. Improving these skills will enable you to improve all aspects of business operations. Financial skills Being an owner means being… Read More
Life insurance through your super
Over 70% of Australians have life insurance through their super fund. This acts as a financial safety net through your super if something unexpected happens. There are 3 main types of life… Read More
Conditions to accessing your super
You may find that accessing your super is the best way to meet your financial needs in a given situation, for example in the early stages of the pandemic. Individuals are able… Read More
Sustainable practices for your business
Adopting sustainable practices for your business is a great way to contribute positively to the environment. These changes won’t significantly impact business operations, but will effectively reduce the carbon footprint of your… Read More
Pros and cons of reverse mortgages
Reverse mortgages allow you to use the equity in your home as security to borrow money. The following are pros and cons of acquiring a reverse mortgage. Pros You will be the… Read More
Why you need Search Engine Optimisation
The term SEO gets thrown around a lot, but what does it mean? Search Engine Optimisation is the process of increasing the quality and quantity of your traffic through organic search engine… Read More
Things you should never overlook when buying a property
When your heart is set on a home, it can be difficult to be objective about certain things. But no matter how much you love a property, don’t overlook these issues! On-going… Read More
Hiring a creative director
You have decided that your business needs an online presence, whether that means starting a website, a social media account, or both. What you need now is a creative director that can… Read More
How to reduce the tax you pay
There are various potential ways you can reduce the tax you pay. You may be entitled to tax deductions, offsets or you may choose to opt for salary packaging. Tax deductions will… Read More
How to motivate and incentivise employees
Each employee is motivated and incentivised by different things. While some employees are more motivated by money, others might feel motivated when their work is recognised. It is important to try to… Read More
Using an app to boost your business
Creating an app that helps customers interact with your business can be beneficial. The following are some ways that an app will facilitate business growth. Convenience: Your app will stay on the… Read More
How to respond to being terminated
Being terminated is difficult, whether you are prepared for it or taken by surprise by it. It is important, however, that regardless of how it happens, you handle yourself and respond to… Read More
Conducting due diligence when buying an existing business
You’ve found the perfect business for you to buy. It fits all your requirements and you’re in a position where you can comfortably buy the business. What’s next? Before you sign the… Read More
Self-managed super funds (SMSF) aren’t just about financial investment
Individuals may be looking to opt for an SMSF because these provide entire control over where the money is invested. While this sounds enticing, the downside is that they involve a lot… Read More
Partnership Agreements: What you need to know
A partnership agreement formalises the business relationship between two partners. It can cover everything from low-level processes, up to how dispute resolution will take place in the business. Business partners are personally… Read More
What record-keeping requirements does the ATO have in place?
Record-keeping, if done well, can help running a business much easier. It gives you an overview of the business’ financial progress so that owners can assess their strengths and weaknesses and make… Read More
JobKeeper was a useful strategy after all
The latest report by the Reserve Bank of Australia has shown that job losses would have been double if JobKeeper had not been implemented. The wage subsidy program provided a lot of… Read More
Avoid undervaluing your services
Entrepreneurs might find themselves undervaluing their products and services as they might feel that customers will opt for a cheap option rather than a good option. This fear demonstrates a lack of… Read More
Roadmap to a digital transformation
Digital transformation of a business allows you to reach a wider audience and makes interaction with your business a lot more appealing as it is convenient for customers. This will help your… Read More
The risks involved in debt consolidation
Debt consolidation is a form of refinancing which involves taking one larger loan out to pay off multiple small ones. Although this might make managing repayments easier, you may end up paying… Read More
Why company culture is important
Company culture has become an important part of how businesses are perceived. Businesses with a positive culture are more likely to attract clients and customers. Statistics also show that over 50% of… Read More
