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
Transition to retirement
The transition to retirement (TTR) strategy allows you to access some of your super while you continue to work. You are able to use the TTR strategy if you are aged 55… Read More
Tax contributions on your super
How much tax you pay on your super contributions and withdrawals depends on a variety of factors. The process takes into account your total super amount, your age, and the type of… Read More
$47 Billion lost in wages at the start of Covid
In the first 8 months of Covid, Australian workers lost $47 billion in wages. A study showed that there was a decrease in the hours workers performed from 760 (before Covid) to… Read More
Work-related mental health risk factors
There are over 7,200 Australians who are compensated for work-related mental health conditions. This makes up 6% of all worker’s compensation claims. In total, $543 million are paid in workers’ compensation for… Read More
Why you should invest in technology
Technology can be extremely beneficial for small businesses. It can help businesses grow and be more agile so that they can adapt to changing customer needs. The cost of technology is not… Read More
Responding to an underperforming employee
Given how confusing and stressful these times have been for individuals, you might find that employees are not performing at the standard you expect them to. This can prevent the company from… Read More
What to know before you apply for a business loan
A business loan can give you the support you need to fund growth or temporarily relieve cash flow pressures. These are some things to know before applying for the loan: Understand the… Read More
Super fund categories and what they mean
There are four different categories of super funds. These have different primary features and are more applicable to certain people than they are to others. Retail super funds Anyone can join retail… Read More
Small business CGT concessions
Businesses receive four different types of concessions on top of CGT exemptions and rollovers which are available to everyone. These allow businesses to disregard or defer some or all of the capital… Read More
Why you should have a written partnership agreement
Having a strong relationship with your partners is extremely important, but sometimes it isn’t enough. Having a document which covers all aspects of running the business, both those which are liable to… Read More
What to look out for when buying a property
Property investment is a relatively low risk option, but it can be stressful if you don’t know what to look out for. These are some warning signs that you should keep in… Read More
There is no ‘back to normal’
The pandemic forced businesses to change drastically. Adapting to practices which are technologically based became integral in order to maintain safe practices. Additionally, if businesses wanted to remain a part of the… Read More
Difference between website and social media for businesses
Businesses may be questioning whether they need to create a website if they have a social media presence. However, each plays a distinct role in the formation of a brand identity and… Read More
Tracking your spending to spend less and save more
It’s hard to know where to start when you decide to take control of your money. It can be helpful to know exactly how much money is coming in and going out… Read More
What is an annuity?
An annuity provides guaranteed income for a number of years, or for the rest of your life. It is also known as a lifetime or fixed-term pension. You can buy an annuity… Read More
Claiming your tax deductions
There are different types of deductions that individuals can claim to reduce their taxable income. Work-related expenses In order to claim work-related tax deductions, the expenses must have to meet three criteria.… Read More
How innovation can help business
Innovation doesn’t have to be a revolutionary and world-changing breakthrough. It can also be small changes you make to continually improve your business. Innovation can help in multiple aspects of business. Improve… Read More
Developing an investing plan
Investing can seem intimidating but creating a plan will help you find the investments that are right for you and your financial situation. Review your finances Work out what you owe (debts)… Read More
E-invoicing under the Digital Business Plan
As part of the Digital Business Plan, the government has stated that electronic invoicing (e-invoicing) will be mandated by July 2022. Businesses will no longer need to generate paper-based or PDF invoices… Read More
Customer retention strategies
Retaining customers is just as important as acquiring new ones, if not more important. This is because unless customers had a negative experience with your company, they will use your services or… Read More
Breach of employment contracts
Employment contracts contain terms and conditions which both the employee and employer agree upon. Ideally, this contract should be written rather than confirmed verbally to avoid miscommunications or misunderstandings. Contracts may also… Read More
Super scams: What to look out for
The market for super funds is extremely competitive. Scammers take advantage of this by promising unrealistic benefits to acquire personal or account details. They are able to use this information to steal… Read More
How are investments taxed?
Investment income needs to be included when conducting tax returns. This includes any income acquired through interest, dividends, rent, managed funds distributions, and capital gains. The income yielded from investments is taxed… Read More
PAYG instalments for business and investment income
Pay as you go (PAYG) instalments are payments you can make throughout the year to avoid accumulating a large tax bill to pay at the end of the year. Making these payments… Read More
How to get the most out of your bank account
Banking is often more complicated than you expect it to be with different types of accounts, fees and fine print to take into consideration. You are able to get more out of… Read More
Business principles entrepreneurs should adopt post-covid
It is important to adopt new business practices post-covid to keep up with the changes that have occurred. Socially distanced customer service: Businesses should aim to provide easy-to-access customer service. This includes… Read More
CommSec report: Tasmanian economy outperforms the rest of the country
The CommSec reports demonstrated that while the rest of the country is still struggling to get back to normal, the Tasmanian economy has shown consistent improvement, being the top-ranking economy for the… Read More
Running a successful email marketing campaign
Email campaigns are important because research shows a large percentage of both adults and teenagers regularly use email. Running a successful email campaign can significantly contribute to customer interactions and generate sales… Read More
Maximise holiday sales during the pandemic
This holiday season is not going to be like any other. Preparing for how your business will tackle the change ahead of time will help maximise sales. Maintain a human and compassionate… Read More
First home super saver scheme
The first home super saver (FHSS) allows individuals to save up for their first home in their super fund. The money saved in the super fund is taxed concessionally and therefore, individuals… Read More
What you can do to stay updated in your field
Keeping yourself updated with current knowledge about your field can help set you apart from others. It shows current and potential employees that you are committed to your career and continuously looking… Read More
Technology mistakes to avoid
Technology has enabled the optimisation of business processes in many ways. However, some businesses are failing to properly utilise technology. This prevents them from yielding the benefits that it can provide but… Read More
Tax relief for individuals
The Federal Budget for 2020 announced personal and business tax relief through various tax cuts. The legislation was approved by parliament meaning that individuals and businesses will be paying less tax, and… Read More
Consolidating your super
Consolidating your super can save you time and money. Consolidating your super means that rather than having multiple different accounts, all your super is in one account. Why you should consolidate your… Read More
Small businesses and mental health
Owning and running a small business often means that you are responsible for most or all of the tasks that need to be completed. Often, owners will find their time being entirely… Read More
Building a strong team
Individuals often need to come together to form a team in order to successfully accomplish tasks in the workplace. Employers should aim to build team cohesion so that team members are co-operating… Read More
Unemployment increasing once again
During the month of September, unemployment rates increased up to 6.9%, which means that the other 29,500 people have lost their jobs. This figure was made up of 20,100 full-time jobs and… Read More
Basics of fringe benefits tax
What are fringe benefits? Employees may opt to make an agreement with their employers that provides them with fringe benefit ‘payments’ in a form other than salary or wages. There are various… Read More
Choosing a super fund
Choosing a super fund requires taking multiple things into consideration. Such as its performance, the fees you will be required to pay, details of the insurance, and different investment options that are… Read More
Best practices in business management
Engage employees in the company vision It is important to share the business vision with employees so that they feel more motivated and enthusiastic. This will not only develop an interest in… Read More
Protecting your business from cybercrime
Having a digital presence nowadays is crucial to getting the most out of marketing your business. However, being online puts you at risk of being a target for cybercrime, which means that… Read More
What property investors need to look out for
All investments have an aspect of risk and property investment is no different. How comfortable you are with the risk is generally an indication of your financial situation, age and expertise. There… Read More
Bringing millennials to your business
Millennial job seekers are often far from the irresponsible job-hoppers many make them out to be. And while they may come from a generation that is unfamiliar to many entrepreneurs and other… Read More
Speeding up invoice payments
Taking care of invoice and billing payments can often be an onerous task for many small businesses. However, very few things are more important in the business industry than getting paid on… Read More
Making employees feel valued
Statistics have shown that employees who feel valued are more motivated to perform their best. But how can a business make employees feel valued so that they can encourage this behaviour? Recognition… Read More
