Self-managed superannuation funds (SMSF) are governed by the rules set out in the trust deed, therefore, trustees need to ensure any actions do not breach the rules in the deed. As the trust deed is a legal document providing the governing rules for establishing and operating your SMSF, it needs to be reviewed and updated…
One of the more challenging aspects of managing staff is working out how to keep them motivated. Motivated employees are not only more productive but they are less likely to want to leave your business. Fortunately, motivating employees does not always need to involve financial incentives. Here are some tips that can help you to…
With so many charities competing for donations, it can pay to spend time researching to make sure your money is used for the cause you want to support. Just as important to making sure that the charity you donate to actually receives your donation. Here are some aspects to consider before you make a donation:…
Small businesses operating in an ever-changing environment increasingly need to ensure they get flexible working schemes right. Finding the right balance can be mutually beneficial for both your business and employees. Business owners are responsible for effectively implementing and managing flexible working arrangements that ensure all employees are satisfied. Here are some things to consider…
Insurance arrangements in super can create a few surprise outcomes for members who leave big superannuation funds to start their own self-managed super fund yet leave a portion in their old fund. Members need to be wary of the traps that can cause a loss of cover. As insurance is a complex financial product; members need…
The ATO has identified certain businesses it plans to target for potential tax audits. These businesses include the supermarket, bakery, computer system design and car retailing industries that often need more help to meet their tax and super obligations. In response to this, the ATO has begun an education campaign for business owners in these…
