When you own a rental property, keeping records is important. These will help you meet tax obligations. Generally, only individuals with their names on the title deed declare income and claim expenses. Remember that the records must be kept in English or should be easily translatable into English, and kept for a minimum period of…
New COVID-19 cases resulted in Victoria going into a short lockdown. Although the lockdown itself wasn’t very long, the estimated damage to the economy was high. Experts are saying that the short lockdown could cost the state $1bn. Although there have been no new local cases since, some restrictions will stay in place. For example,…
Starting a business needs a lot of preparation, time and effort. Therefore, running two businesses at the same time means that your workload is even greater. You may choose to start another business if you have been making consistent profits for your first/initial business and you come across a particularly good business, Even though there…
Leaving mobile phone usage in the workplace unmanaged can lead to problems down the line. If employees use their phones during work hours too frequently, then this can lead to: Lack of productivity in the workplace Poor customer service and increased complaints Distracted or disengaged team members Safety concerns Take the following steps to manage…
These are features you should make sure you have on your website: Your contact information should be easily accessible. Potential customers should know how to get in touch with you if they want your products or services. Try to have a blog on your website that you update with articles about your business area. This…
There are various causes of stress that make it difficult to have just one method of stress management. There are 4 methods you can use in response to stress: Avoid: Sometimes the causes of our stress are avoidable. For example, if being around certain people makes you feel stressed because of the way they behave,…
Your credit score can affect loans and credit you apply for. You are able to have errors on your credit report fixed for free. The following are typical errors in credit reports, that you are able to get fixed for free. Errors by the credit reporting agency – there may be instances where the agency…
The business management style you adopt will depend on the needs of your business, what motivates your employees, and your style of work. Therefore, you do have some flexibility when it comes to the choices you make and how you manage your business. However, there are some which you should always avoid due to the…
The transfer cap refers to the amount of money that can be transferred from your superannuation account to your tax-free ‘retirement phase’ account. At the moment, the transfer balance cap is $1.6 million and all individuals have a personal transfer balance cap of $1.6 million. Exceeding the personal transfer balance cap means that you have…