It’s been a stressful time for everyone transitioning into the new normal of business. Whether working from home, remotely or trying to get used to a whole new working environment, employees are under more pressure and stress than ever before. How to know if your stress is impacting you: Feeling ‘burned out’ at work Feeling…
As a result of the emerging new business climate in a post-Covid environment, many jobs have had to adapt into a new structure. Since many businesses have found themselves in a more digitised environment or in jobs that have been retrenched, there’s a growing need for skilled individuals in other sectors to step up. A…
Intrinsically linked with tax, superannuation is a minefield of concerns for many of us. One such concern is whether super gets taxed after a death. When a person’s super is paid after their death it’s called a ‘death benefit’. Death benefits can be paid to a dependant only after the owner of the super dies. …
Individuals who partake in self-education may be able to claim a deduction for their expenses if the education is related to their work or if they receive a taxable bonded scholarship. Courses eligible for claim You are only eligible to receive a deduction if the course has a sufficient connection: To your current role and…
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 more control and flexibility, opting for a SMSF option might be ideal for you. Growth 85% shares or property and 15% fixed interest…
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 fringe benefits, exempt benefits, and super. What you can include in your salary package depends on your employer and there may be tax…
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 following are things which you should not include in your will: Wishes: Conveying your wishes is of course important, however, they should not…
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 office or some other behaviour alogether. However, as a business owner or manager, you must maintain professionalism when responding to such an employee.…
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 the threshold. Businesses and individuals that sell or import luxury cars are required to pay LCT. You can make LCT payments in instalments…
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 and continue to own the remaining share of your home equity. Pros You are able to continue living in your home after you…