One of the downsides of running a self-managed super fund (SMSF) are the fees, but making sure you know what SMSF expenses are deductible can help you make the most out of your money. Many expenses required for running an SMSF can be deductible unless they are related to gaining non-assessable income, such as exempt…
Division 7A under Australian legislation is currently concerned with private company benefits given to shareholders which are taxable under the premise of income tax purposes. For two years, the Australian government has announced that they will be making changes to the law – however, experts predict that the changes may be deferred for the third…
Since the second half of 2019, industry super funds have begun to merge their organisations in an effort to combat APRA’s growing potential in taking action against trustees of underperforming funds. While supers are assuring their members that funds are only merging for their best interest, what exactly will the merging of your super fund…
With a quarterly business activity statement (BAS) due next month, it is important that you have updated your lodgement options according to the new system. From 27 March 2020, AUSkey, including Manage ABN Connections, will be replaced by myGovID and Relationship Authorisation Manager (RAM) and you will no longer be able to access government online…
Gone are the days of your visits to the bank to check on your credit balances. With banks consistently improving their client services and moving to easily accessible platforms such as the web and apps, there are more and more opportunities for you to self-organise your money with the services your bank provides. Here are…
A website is no longer the only way to get your business more online visibility. Business blogs are now emerging as new and effective marketing channels in addition to main websites but rarely are they fully utilised as a connected business channel. Here are a few key steps to consider when building a successful business…
Diversity and Inclusion is a growing concept that many businesses – from SMEs to MNCs – all around the world are grappling to understand and implement into their workplace. But what exactly does D&I entail and why is it becoming so important for businesses and employees? Social inequality has long been a complex global problem…
Running your business from home can have great benefits, such as being able to spend more time with your family, not having to travel, and deciding your work hours. To make the most out of your home business experience, it is important to be aware of what tax deductions you can claim. If your home…
Whether you are a newcomer to the workforce or have been working full time for 30 years, you must have come across the concept of superannuation. Chances are, you’ve already been steadily building your retirement funds in one of the 500 Australian superannuation funds but are still unfamiliar with how exactly your super is being…
A career mentorship program involves partnerships between employees to develop professional skills and gain industry knowledge. Career mentoring programs are often seen as powerful development tools for cultivating both leaders and employees within a business. Whether you are a small business owner or a multinational corporate leader, the implementation of a mentorship program will always…