People and internal processesArguably one of the best forms of investment is in the employees you hire, and the talent, experiences and skills that come with them. Take the time to reflect the strengths and weaknesses of your business and where you can retain or invest in your people. YourselfConsider investing in a way that…
Associating certain behaviours to different countries have long been a way of identifying and comparing cultures and widely assumes country homogeneity. For example, previous studies on national culture have compared vastly different working styles between East-Asian countries and the West. However, a recent study published on Havard Business Review found that equating country with culture…
It’s no secret that the median super balance for Australian women at the time of retirement is significantly lower than that of their male counterparts. The Australian Commission & Investments Commission (ASIC) have reported that men retire with about twice the amount as women. The discrepancy is reportedly even higher between Mums and Dads. Between…
On 1 July 2018, the Australian Tax Office (ATO) rolled out Single Touch Payroll (STP). This changed the way employers with 20 or more employees report their employees’ tax and super information. Generally through payroll or accounting software that offer STP reporting (or through a third-party service provider), employers are expected to report information on…
Your business is only as good as your staff, which is why you want to hire high potential employees. You may find it hard to spot a high potential candidate in an interview. Our tips will tell you what to look for and ask when you are recruiting. High potential employee traitsA common set of…
Merging your super is vital to maximising your retirement savings. Changing jobs over the years will put you at risk of losing some of your super if your previous employers have set up accounts you have forgotten about. Fees will erode the balances on these inactive accounts and result in you losing your hard earned…
You can claim tax deductions for expenses related to business travel provided you follow the ATO’s rules. Eligibility requirementsYou must fulfil certain eligibility requirements for your tax deduction claims to be valid. You can only claim a tax deduction if you: Travel once your business has already started Keep records and documentation to provide evidence…
The new Australian Financial Complaints Authority (AFCA) will make it easier for individuals and small businesses to make complaints about their superannuation financial firms. The Coalition government has responded to criticisms of previous dispute resolution bodies by creating a new financial disputes framework. AFCA has been described as a “one-stop shop” that will improve outcomes…
