As part of an attempt to boost the participation of older Australians in the workforce, the federal government is offering businesses incentives of up to $10 000 to hire employees over the age of fifty. The wage subsidy scheme, called Restart, will require employers to demonstrate that the filled position is ongoing, sustainable and has […]
When carried out effectively, formalised performance reviews can be beneficial for both you and your employees. It is an opportunity for you to demonstrate how much you appreciate your employees’ contributions and undertake collaborative reflection on potential business improvements. However, there are a lot of potential pitfalls that can undermine the effectiveness of performance reviews, […]
One of the biggest causes of failure for any venture is a lack of planning and preparation. A good business plan can help to plan, manage and navigate a company by detailing a strategy to achieve the company’s goals. A business plan is essential for any company; no matter what the size, industry or location. […]
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 […]
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