Most businesses will need to recover debt at some stage. Adopting credit control practices and a debt recovery procedure can help prevent debt and promptly collect outstanding payments. To minimise your risk of debt, it is a good idea to review the terms and conditions in your contract. A contract should specify what goods and…
Investing in a workplace wellness program is one way employers can foster a culture of health and fitness among employees. Workplace wellness programs are designed to support, encourage and reward healthy behaviours. As healthy employees are shown to be more productive, have higher levels of morale and less absenteeism – it pays to invest in…
Taking out a chattel mortgage to finance the purchase of a business vehicle is an attractive option for small business owners from a tax-saving perspective. A chattel mortgage is a mortgage on a movable item of property i.e. motor vehicles. A finance company lends money to a business to purchase a car, which the business…
Branding can help small businesses stand out from the competition and gain customer loyalty – but only if it is effective. Businesses with brands that are confused, outdated or simply not appealing to the eye can hurt a business’s reputation and even repel customers. Businesses suffering from a branding problem may need to look at…
Adding your own contributions to your super fund is a simple and effective way to boost your superannuation. Personal super contributions are amounts an individual contributes to their super fund from their after-tax income. These contributions are in addition to any compulsory super contributions an individual’s employer makes on their behalf and do not include…
Following an announcement in July, the Australian Government recently increased the 32.5 per cent tax threshold from $37,001 – $80,000 to $37,001 – $87,000. The new PAYG withholding rates will apply to individual taxpayers who earn more than $80,000 from 1 October 2016. The Australian Tax Office provides a range of tables to assist employers…
