While many can agree that the majority of business meetings are a waste of time, in some companies, meetings are inevitable. But even though people working in these organisations cannot simply ‘quit’ having meetings, there are ways they can reduce the time-wasting drain that converts a short 15-minute meeting, into an hour of wasted productivity.…
Carrying forward significant capital losses can be a viable strategy for trustees wanting to offset gains and achieve tax savings in the near future. This kind of strategy is suitable in circumstances where it is likely that younger members may join the fund or when members are considering switching back to the accumulation phase. One…
As the countdown begins to Australia’s tax return lodgment date, many individuals in the country may be hurrying to find a few extra possible tax deductions to claim. However, in the rush before the deadline, it is important not to waste time claiming deductions for expenses or items that are commonly thought of as tax…
A comprehensive returns policy is imperative for every e-commerce business. It is not only good practice, but it provides customers with confidence and demonstrates your business’ commitment to customer service. A solid returns policy will ensure the returns process is professional, reduce the time and money spent on returns and keep your customers satisfied. Here…
The small business company tax rate has been reduced from 30 per cent to 28.5 per cent. The new lower rate applies to small businesses that are corporate unit trusts and public trading trusts. When completing company tax returns, use the new rate of 28.5 per cent on calculation statements at label T1 – Tax…
The ATO has recently provided recommendations for self-managed super funds (SMSF) trustees with related party LRBAs that are lodging before the 31 January 2017 compliance deadline. The Tax Office stated that the relevant income of an SMSF is considered NALI (non-arm’s length income), and should be reported as such in the SMSF’s 2016 annual return,…
Quite often, being too slow to name bullying behaviours that pose health and safety risks in the workplace can cost businesses millions of dollars each year through lost productivity. Workplace bullying is repeated unreasonable behaviour directed towards a staff member or a group of workers that puts their health and safety at risk. Instances of…
Self-managed super funds (SMSFs) that are not well diversified are quite risky investments since they aren’t as protected as they could be against shocks and volatility in the market. Diversification aims to maximise an individual’s return by investing in different asset classes that react differently to the same event. Although it does not guarantee avoiding…
