Articles

Staying ‘super’ compliant

Employers have a legal responsibility to pay eligible employees superannuation to provide for their retirement. And although most employers do the right thing, some do try to bend the rules which can see them facing hefty penalties. Employees are entitled to...

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How to improve efficiency

Efficient businesses create more with less. They are driven by highly-motivated employees and inspirational leaders. They understand the power of time-management, organisation, and most importantly, managing their resources. To improve the efficiency in your small...

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Reducing business expenses

Having control over your business expenses is an essential part of running a successful small business. Fortunately, controlling your expenses does not have to be hard work. Consider the following ways to reduce your business expenses: Automate New technologies such...

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Designing for your target audiences

There are only two types of visitors that regularly access a firm’s website. Human internet users are the first type, namely prospective clients, current clients and competitors. Robots and machines, otherwise known as search engines, are the second type. Both sets of...

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Car Tax Deductions

Deductible travel – self-employed and employees Motor vehicle expenses incurred in the course of deriving assessable income or in carrying on business are allowable deductions under section 8-1 of the Income Tax Assessment Act 1997 (ITAA 97), provided substantiation...

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GST – Property Development

GST options on sale There is only a liability to GST where: an enterprise is being carried on, the annual turnover is at least $75,000 ($150,000 for non-profit bodies) and a taxable supply is made. Therefore, when selling property there will be no GST liability unless...

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ATO alerts issued for unclaimed super

The Australian Tax Office (ATO) will be contacting 80,000 individuals, starting this week, to alert them of unclaimed super. An email campaign will alert members about ATO-held unclaimed super money from 5 April. On 16 April, 20,000 letters and SMS will be sent. The...

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Improving email open and click rates

Open and click rates provide firms with key information about their email marketing campaigns. Open rates show how many email campaigns were opened by clients, and click rates show how many of these campaigns registered at least one click. These rates are an excellent...

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CGT – Property Development

The revenue/capital distinction It is very important to determine whether the property is being sold on revenue or capital account as it determines whether: any gain is exempt because it is a disposal of a pre-CGT asset the 50% discount and the CGT small business...

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Ways to reward your staff

Rewarding staff is essential if want to maintain happy staff. Here are seven ways to reward your staff: Donate in their name Donating to a charity of choice selected by the employee is a great way to reward an employee by connecting to a passion of theirs. Tickets...

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Cutting down your marketing costs

When business is struggling, one of the first places business owners look to cut costs is in their marketing efforts. Although many do not view marketing as an essential element, it can create immense value for a business. Fortunately, there are still ways to market...

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Why you should start podcasting

Podcasting is becoming an increasingly popular way to connect with audiences on a more personal level. The benefits are endless – podcasts are easily accessible, provide an engaging platform to discuss news and topics and can improve your credibility. Here are three...

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Online marketing to improve awareness

Businesses know the impact of digital marketing but many small businesses are still lagging behind when it comes to incorporating digital into their marketing efforts. A lack of time, knowledge or experienced staff is often the cause. However, digital marketing does...

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Onboarding tips

A solid onboarding process not only gives a great first impression for new hires but it can also help to keep them for longer. Here are three tips for a smooth onboarding process: Prepare for their first day A little preparation can go a long way in making a new hire...

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Ways to improve your business

Business owners should always be on the lookout for ways to improve their business. It can be easy to fall into a trap of complacency, especially when business is doing well but having strategies in place can ensure your business continues to remain successful....

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GST Property Traps

Traps in determining whether there is a GST liability The first issue to be resolved with any sale of real estate is whether there is a GST liability.  If there is, and none is collected from the purchaser and remitted to the Taxation Office (ATO), this is going to be...

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Eligibility for the downsizer measure

As of 1 July 2018, the Government will introduce a new measure that allows the contribution of up to $300,000 of proceeds from downsizing a home to be added to superannuation. The new measure will benefit those aged 65 years and over, provided they meet certain...

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Defining business values

Business values, much like personal values, influence behaviour and provide a set of rules or guidelines to follow. However, in a business context, values are often set and ignored. To avoid this, business leaders need to create values that can lead to action and...

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Google hacks you never knew

Google is one of the most popular search engines and for good reason. However, finding useful results can be frustrating. Fortunately, there are some Google search shortcuts which can help generate the results you are looking for. Here are five tips to get better...

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Tips to being a successful entrepreneur

Being a successful entrepreneur is hard work, in Australia only 40 per cent of small businesses are still operating three years after starting according to the Australian Bureau of Statistics. If you want to make it as an entrepreneur and want to be successful as a...

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Tax tips for property investors

Property investors can access a wide range of tax deductions and items subject to depreciation for their rental property yet many miss out on unknown tax breaks, foregoing an average of $20,000 a year on a $1 million house. Here are four ways to maximise your tax...

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Investment Property Tax Basics

Purchase of the Rental Property Capital gains tax The purchase of a rental property is generally the acquisition of a capital asset.  The costs of acquisition will be included in the cost base of the property.  These will include: the price paid remuneration for...

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Building awesome business relationships

An important aspect of any successful business is the ability to build and maintain strong business relationships. Whether you like it or not, at times you will find yourself surrounded by people you would rather not work with, because they have different values or...

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Are you at the top of your social media game?

The way social media can be used as a marketing tool for your business is constantly evolving. To remain at the top of the game and ahead of your competition, you need to be aware of how to use social media to your advantage. Consider the following: Interact One of...

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Keeping remote employees engaged

Hiring the best team possible for your business often means hiring individuals that will need to work remotely. It is important to keep these individuals engaged. There are a number of strategies you can implement to engage your remote employees, thus strengthening...

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Workplace bullying

Workplace bullying can only impact a business negatively. It is imperative to be on the ball and stringent in creating an open and inclusive work environment for all who come into contact with the business. According to the Fair Work Ombudsman, workplace bullying is...

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Starting a business with minimal funds

Starting a business with little to no personal capital will be challenging, but it is not impossible. Luckily, if you think creatively, there are a number of ways you can start your business without having to spend big. Below are some strategies you can try:...

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GST Margin Scheme

Those registered for GST and making taxable supplies can reduce their GST liability by choosing to calculate GST on the margin of real property supply.  Under the margin scheme, GST is calculated on the supply as 1/11 of the margin on the sale. The margin scheme is...

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Price of housing drops in 2018

Research indicates that the pricing of houses in Australia has been dropping so far in 2018, and the trend is expected to continue. Last month, the price of housing on a national scale dropped by 0.5 per cent. This is reflected in state trends, with the following...

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Engaging Facebook video marketing strategies

Facebook videos are commonly used as a marketing strategy for many businesses. This is an effective strategy, as long as it is done correctly. To make your Facebook videos work efficiently for your marketing campaign, consider the following: Get to the point There is...

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Maximising employee retention rates

There are many secrets to success when running a business; one of which is maximising employee retention rates. Retaining staff is extremely important for a number of reasons when it comes to running a business. When you retain your staff, you save money in...

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Tax deductible legal expenses

While we like to think of business ventures as a platform to make money, there are also many expenses that will be incurred through running one. Luckily, there are many tax deductions a business owner can claim when it comes to the expenses their business incurs, in...

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2018 business trends

To keep your business relevant in 2018, staying up to date with emerging business trends is essential. There are a number of strategies you can incorporate into your business model to ensure you are remaining at the top of the pack within your industry. Consider the...

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Managing investment risks

Investing can be a great financial strategy, but only if risks are managed appropriately. When investing, it is important to understand three aspects surrounding risk; what it is, why it’s important, and how it can be used to your advantage. Investment risk involves...

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Fringe Benefits Tax FBT Overview

FBT was introduced into Australia in 1986 by the Fringe Benefits Tax Assessment Act 1986 (“FBT Act”).  It provides that where a benefit is provided by an employer to an employee (or associate) in respect of his or her employment, the employer (not the employee) must...

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The in’s and out’s of asset allocation

Deciding where to allocate your assets can be confusing and even daunting, particularly if you aren’t confident in your knowledge of the current financial sphere. Consider the following in’s and out’s of asset allocation to make the process much easier: Set goals...

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Making long-form content readable

Many people will say that writing long-form content is a ‘no-no’, however, sometimes it is the only way to discuss a particular topic. There are a number of do’s and don’ts you can practice to make your long-form content is as readable and as engaging for your...

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Managing risks associated with investing

Whenever or however you choose to invest, there will always be risk involved. Luckily, there are strategies you can adopt to manage this risk in the best way possible for you and your investment goals. Unfortunately, volatility in financial markets can cause an...

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CGT Earnout Arrangements

Capital Gains Tax (CGT) Earnout arrangements are generally where a business is sold for a set amount plus a percentage of profits in the future for a specified period.  The tax treatment of these rights to income in the future has varied over the years. The latest...

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Company carry forward tax losses

Company losses cannot be distributed to the shareholders.  They must be carried forward in the company and offset against assessable income in subsequent years.  There are two major tests that determine whether such losses can be carried forward.  They are the...

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Creating engaging content

When creating content for your website, regardless of the business or industry you are involved in, there are some hard fast strategies you can follow to ensure it is engaging. Consider the following: Visual Including visual content such as images, infographics,...

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Providing quality customer service

While the nature of customer service has changed due to technology, it still holds an ever important place in business. Understanding how to deliver high quality customer service can result in increased business profit and greater customer retention rates. Consider...

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