Articles

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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The secrets of giving feedback

Providing feedback is a necessary part of any business. Providing effective feedback can make a significant difference to your employees, their job satisfaction and retention rates. Consider the following secrets to giving effective feedback when it comes to your...

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Understanding various kinds of super fees

No matter the kind of superfund you opt for, you will be subject to super fees. Understanding how these fees work and the difference they can make to your next egg is vital. When it comes to superfund fees, there are two factors you need to get your head around; the...

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Commercial debt forgiveness rules

The commercial debt forgiveness rules are contained in Division 245 of the Income Tax Assessment Act 1997 (ITAA 1997). The rules do not treat the debtor as having received a gain when a commercial debt is forgiven. Instead, they apply the forgiven amount in reduction...

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Tax Structures (Overview)

The main structures for tax purposes are: partnerships; trusts; and companies Individuals carrying on a business but not utilising a structure to do so are referred to as sole traders. A sole trader is not a separate legal entity. Partnerships A partnership is not a...

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Capital Gains Tax (CGT) Overview

The Capital Gains Tax (CGT) provisions were introduced with effect from 20 September 1985.  They generally apply to include net capital gains in assessable income for the income year.  Net capital losses are carried forward. The CGT provisions detail the various...

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How to avoid failing

In any business environment, there are constant challenges that can see you fail or can be tools for success. Channelling these challenges and turning them into strengths is necessary. Consider the following failures business owners commonly make and reflect on how...

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Handling uncomfortable conversations

Difficult conversations are a part of any business; knowing this doesn’t make them any easier to have. The following tips will help you deal with these uncomfortable conversations in the most peaceful way possible. Objective Remaining objective when having these...

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Tips for maximising business cash flow

The ability to manage cash flow is a critical tool for business owners. Incorporate the following cash flow tricks to keep the money coming in and the business running smoothly. Make payment easy One of the easiest ways to make sure cash flow remains consistent is to...

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Tips for entrepreneurial success

While all businesses differ, there are strategies entrepreneurs can use across the board to improve the likelihood of long-lasting success. Consider the following tips: Diversity Hiring a diverse team is a great strategy for achieving success. To be able to reach the...

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Setting clear marketing goals

Setting clear and direct marketing goals is an ideal strategy for promoting your business and business growth. There are a number of different goals you can set to ensure you are optimising your marketing opportunities; consider the following: SWOT analysis Before...

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2018 social media trends

Each year, we see new trends emerge regarding social media and the way it’s used. With the increased growth of social media for marketing businesses, knowing the strongest strategies for incorporating the two will set your business apart. Consider the following:...

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What is taxable income?

In our tax system, tax is levied on ‘taxable income’ received during the income year. The income year is generally 1 July to 30 June. ‘Taxable Income’ = ‘Assessable Income’ less ‘Allowable Deductions’. Assessable income includes ordinary income (income according to...

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Cash flow tips to improve your business

Poor cash flow is one of the biggest reasons why small businesses fail. A healthy cash flow allows you to operate your business free of hassle; allowing you to pay your staff and bills on time. Having enough working capital to meet your business’ needs can help you...

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Hiring the right staff

Finding the right staff is imperative to a successful business. Employees can help you to grow and excel in your business and industry, and shape your business’ overall culture and ethic. Here are three things to consider when searching for the right people to hire:...

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Changes to entitlements in some awards

From 1 January 2018, the Fair Work Commission (FWC) has made some changes to casual and part-time entitlements in some awards. The FWC introduced overtime rates for casual employees in many awards and changed how part-time hours can be worked in other awards. The...

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Attracting Millennials to work for your business

Millennials are encompassing around a quarter of the workforce now and bringing along with them diverse needs and challenges. Employers must understand these needs and challenges to better attract more Millennials to work for them as their skills are in high demand....

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How to use hashtags

When used correctly, hashtags are a great way for businesses to increase customer engagement and make their social media posts more visible. A hashtag is a keyword phrase that has no spaces with the # sign at the start of the phrase, e.g., #accountingfirm #smsfadvice....

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Tips for becoming a better leader

Successful leaders have a lot in common. But one thing they all do is inspire vision through to their staff from their own behaviour and actions. Great leaders also recognise the need for continual self-awareness, and they realise constant evaluation is necessary to...

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Facebook marketing in 2018

Most businesses know the power of Facebook marketing. Facebook has the ability to reach current and potential customers, generate higher levels of brand awareness and engage customers regularly. However, due to Facebook’s popularity, it is highly competitive for...

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Super funds boast high returns in 2017

Superannuation funds in Australia have delivered a return of 10.5 per cent for 2017 – the first double-digit growth since 2013. According to recent findings, there was a 1.3 per cent rise in November 2017 and 0.6 per cent rise in December 2017 alone. The new figures...

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Staying focused and reaching your goals

For any business owner and their staff, in order to achieve greatness, reaching goals and staying focused is important. Consider the following tips for your business in 2018: Understand your purpose Staying focused is easiest when you narrow down and understand what...

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Increasing productivity in 2018

Overcoming the post-holiday slump can be challenging. Between the build-up of emails and long to-do lists, getting back into a comfortable work routine may take some time. Fortunately, there are many ways to become more engaged and energised at work which can...

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Cloud/Online Accounting

Cloud/online accounting is the way that most small and medium-sized organisations manage their bills, receipts, invoices and accounts today. Accounting software has increasingly becoming cloud-based over the past decade. It’s the most significant development since...

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Super housing legislation

The First Home Super Saver (FHSS) Scheme and the downsizing contributions into superannuation measures passed Parliament on 13 December 2017. As of 1 July 2017, individuals can make voluntary concessional and non-concessional contributions into their super fund as...

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How to avoid the holiday slump

The summer holidays may be a period of increased sales for some businesses, but for many, it can be a quiet time with a heavily reduced cash flow. Staying ahead financially, if you are the latter, can be difficult which is why you should consider the following: Use it...

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Getting ETPs right

When an employee is let go or they resign; there is a chance they are owed money, otherwise known as employment termination payments (ETPs). If an employee leaves the business, they may be entitled to several lump sum payments, many of which are taxed differently to...

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Increasing your blog shares

Blogging is a great marketing strategy for your business – it informs and entertains your target audiences, can generate traffic and potentially increase sales. However, writing a blog alone is not a guarantee that readers will share your content. Readers may...

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Improving the customer experience

Great customer experiences are pivotal to building a successful business with a loyal customer base. But unfortunately, these exceptional experiences can be quickly tarnished by one negative encounter. Consider the following tips to improve the customer experience in...

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Celebrating Christmas in your office

Christmas can be a very exciting time for many, and it can also be the dreaded season for others. Consider the following tips for celebrating Christmas in style, to ensure that all your staff get the most out of this period. Office Christmas party Holding a work...

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