Innovation is fundamentally important to long-term business success. While you may be able to take on the main role of envisioning breakthroughs for your business, it never hurts to get input from your employees. In order to ensure that your employees’ contributions towards innovation are as valuable as possible, you need to create a workplace environment in which new ideas are […]
As businesses grow, it is inevitable that you will need to create new roles and hire new staff. Adding a new member to your team is always a challenging task, and when you are hiring someone to fill a brand new position, there is even more pressure to make the right call. Business owners who are able to allocate workplace responsibilities […]
Pinterest may not be as high profile as some other social media marketing sites, but there is a huge potential for small businesses to benefit from this unique platform. Pinterest is essentially a digital corkboard. Users can ‘pin’ anything interesting that they find online and you can have multiple boards going at once. The central difference between Pinterest and most other social media […]
Getting a sales pitch right is incredibly tricky and there are many things that you need to consider. Even the slightest moment of uncertainty or hesitation can cost you the customer’s trust and you need to be able to think on your feet in order to respond to difficult questions. The benefits of having refined sales skills also go beyond […]
It is inevitable that a business owner will eventually leave their business. Whether they sell, retire or leave due to health reasons, it is important to be prepared for when that day eventually arrives. Creating a succession plan is a simple and common sense approach to ensure continuity in a family business. Succession plans enable smooth transitions and decrease the likelihood of disruptions. […]
Keeping the taxman out of your Christmas hamper Christmas is expensive enough. Here’s some of the key ways tax impacts on your Christmas spirit. FOR YOU Who can claim the deduction for charitable gifts? Giving a goat, funding a village well, buying a toilet, or farming equipment for people in third world countries is a […]
You can do whatever you like but if you do it the wrong way, you will be hit with FBT, which can significantly elevate the costs of Christmas, or leave you unable to claim the festive expenses as a deduction. Not even Christmas escapes the Tax Office! Baah humbug. The good news is that if […]
The structure of the workforce is transforming and many business owners are struggling to make sense of the rapid changes. The problem is that regulation, especially from the tax office, will always be a few steps behind changes that are happening in the real world. Sadly, this often means that compliance requirements are not befitting to current business practices. An area where this is […]
For many employers, it can be easy to forget the responsibility of managing your superannuation obligations amidst the busy lifestyle of managing a business or company. However, those who fail to meet these obligations are guaranteed to face some serious and even damaging liabilities. Recently, the Australian Taxation Office (ATO) has identified industries where employers are facing a higher risk of not meeting […]
The ATO has announced that one of its compliance focuses for the upcoming year will be GST compliance. The program will involve a combination of compliance and education to help business owners understand what is involved in meeting their obligations. Key areas of GST compliance focus will be registration, accuracy in BAS reporting, and GST fraud. The ATO will have improved data matching […]
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