Even though employee turnover is an inevitable part of running a small business, the costs of recruiting and training new staff can be hefty. The benefits of retaining your most valued workers far exceed the reduced turnover costs. Higher retention levels can lead to a more knowledgeable workforce, better employee morale and improved levels of…
The new transfer balance account report (TBAR) is available on the ATO’s website. Self-managed super funds can use the TBAR report to report events that affect an individual member’s transfer balance account. The option to report is available from 1 October 2017, however, SMSFs are not required to report anything until 1 July 2018. Events…
Self-managed super fund trustees must notify the Australian Tax Office (ATO) if there are changes to their SMSF. Trustees must provide written notice within 28 days if there are changes to: the name of the fund the address of the fund details of the contact person the membership of the fund the trustees of the…
