It is important for businesses to maintain a good relationship with their bank in order to safeguard their future access to funds. Prepare a strong business plan This is one of the first steps to ensure that the bank will identify it as a low risk business and therefore someone they are willing to give…
The workplace environment has changed dramatically over the last decade, with the practice of working from home becoming a more accepted workstyle. Telecommuting refers to employees who work exclusively from home, but also includes those who part-time at home, and part-time in the office. While this workstyle has been found to provide a number of…
When you are kept busy with the ups and downs of running a business, it can be easy to fall out of touch with your employees. While this doesn’t necessarily bring about any immediate repercussions, not keeping up with employees can be quite costly in the long run, in terms of employee engagement, work ethic…
There are some effective, and often quite simple, strategies to reduce the tax payable in an SMSF that many fail to take advantage of. Nomination of beneficiary Those who nominate a spouse, child or financial dependent as a beneficiary may avoid paying tax on a lump sum death benefit. Delaying TTR commencement Members looking to…
A capital gain is a profit made from the sale of an asset. Your capital gain is calculated as the difference between what you paid for the asset and what you eventually sold it for. A capital gain is considered by the ATO as part of your assessable income and is taxed at your marginal…
