Termination is often a complicated and awkward area for any business owner; however it is sometimes an inevitable move that has to be made. There a number of situations where termination can occur. It is important that each situation is handled carefully to ensure that the process is compliant with complex employment laws. Often it […]
Warnings are an important workplace tool in helping to ensure that employees understand their employer’s expectations. They also serve as evidence of a fair performance management process and provide supporting evidence should the employee be terminated. Warnings can play a crucial role in defending unfair dismissal claims as it provides evidence that the employee was […]
Hiring a new employee to join the business is an important task that shouldn’t be taken lightly. Employers should scout out talent in the same way that a good sales person hunts for new clients. Many employers enter the selection process under prepared and end up settling for a candidate who is not right. Employers […]
In 2014, the ATO will be implementing changes to stop paper activity statements being sent. Businesses use activity statements to report and pay a number of tax obligations, such as GST, PAYG instalments, withholding and fringe benefits tax. This decision follows a thorough consultation process, including a six month pilot with tax practitioners and BAS […]
The age of retirement is becoming an increasingly topical issue. As waves of baby-boomers are now reaching what was once a popular retirement age, as well as issues such as individual’s greater longevity, the state of retirement savings and the rapid ageing of the population, the topic of retirement intentions is getting a lot of […]
As people get older they need to make arrangements on how to handle their estate, and their personal interests in the event of sickness or death. Contrary to popular belief, an individual’s parents, spouse or significant other are not always automatically empowered to make these decisions on their behalf. It is always best to seek […]
There are both legal and tax implications to be considered when former partners in a SMSF decide to split after the breakdown of the relationship. It is possible to transfer assets, such as property, from one super fund into another; however, there are four things individuals need to consider: 1. Separating couples need to work […]
The Federal Government has introduced changes to the superannuation system designed to make Australia’s superannuation system stronger and more efficient. These reforms are called Stronger Super and have been introduced following a Government review of the country’s superannuation system in 2009. A variety of recommendations were made in 2010, and the first changes have been […]
It is quite common for parents to consider inviting their children to join their DIY super fund. Although only about 10 per cent of DIY super funds have more than two members, there are a number of benefits in including children in the family super fund. There are financial benefits to including children in a […]
As some Australians get older and begin to approach retirement they may face the challenge of finding a suitable person to look after their retirement assets. This issue highlights the possibility that many DIY super funds could have a use-by-date. As Australians become older many may no longer have the interest, desire and eventual ability […]
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