Small business owners are now protected from unfair terms in standard form contracts by a new law introduced 12 November 2016. A standard form contract is one that has been prepared by one party to the contract and where the other party has little or no opportunity to negotiate the terms. Small businesses enter into and…
Since employee performance can directly correlate with job satisfaction, retention and productivity it pays to invest in improving performance. A few simple tweaks can dramatically improve employee performance. Here are five ways to commit to improving morale and performance: Set clear expectations Communicating clear goals and expectations is essential in ensuring employees work towards common…
When choosing between a home loan with a fixed rate of interest and a home loan with a variable rate of interest, it is important to take both your personal and financial circumstances into consideration. While both options offer certain advantages and disadvantages, individuals should consider what they will gain and lose through either option.…
Converting casual customers into brand-loyal customers is challenging in today’s competitive marketplace. With thousands of brands competing to stay top of mind; retaining customers is no easy feat. Fortunately, there are some ways businesses can encourage repeat purchase customers: Be consistent Surpass your customers’ expectations by consistently delivering the same level of quality in your…
A re-contribution strategy involves withdrawing your superannuation and re-contributing it back into the fund as a non-concessional (after-tax) contribution. It is an easy strategy to implement and can provide significant tax savings for a trustee and their family in the future. This is because the strategy converts the taxable portion of the withdrawn super amount…
Income tests are used to work out a person’s eligibility for tax offsets and benefits which can reduce the amount of tax they have to pay. The Australian Taxation Office considers various items from a person’s tax return when applying income tests. For example, a number of offsets, benefits and obligations are assessed using a…
