Self-managed super fund (SMSF) trustees have onerous duties and responsibilities in relation to the management of their fund. An SMSF trustee primarily needs to ensure the fund is properly managed for the benefit of members for their retirement. All trustees must ensure the fund assets are held in trust and invested on behalf of the…
On 1 August 2017, fuel tax credit rates increased. Some of these rates also changed on 1 July 2017, due to a change in the road user charge and an annual increase to excise duty rates on biofuels. Fuel tax credit rates change regularly – they are indexed twice a year, in February and August,…
Recommendations from friends and family are more likely to attract new customers to your business than traditional advertising. However, word-of-mouth marketing is not something that can be generated; it has to occur organically. Here are three ways to drive word-of-mouth marketing: Exceed expectations Give your customers something to talk about by going above and beyond…
The Tax Office is warning SMSF trustees that they will be contacting SMSFs that have not regularly complied with their lodgment obligations. The ATO is reminding trustees that lodging an SMSF annual return is an obligation and failure to do so is a breach of super laws. To avoid penalties, the Tax Office is urging…
Activity statements generally issue from the ATO by the end of the month but in some circumstances they can be generated early. Business owners can access activity statements early in the following cases: your business has ceased you will be travelling and will not be able to obtain your activity statement if generated under normal…
Term deposits are an easy and secure way to invest your funds. But it is always a good idea to do your research and shop around first to find the best return before investing. Although there has been a significant decrease in term deposit rates over the past few years, they remain a popular investment…
Happy employees are productive employees. Employee satisfaction directly correlates with employee engagement, retention and ultimately a better bottom line. Here are three ways to create a happy work environment in your business: Show you care Daily interactions, such as conversations and exchanges can significantly improve an employee’s happiness. Getting to know your staff on a…
The Fair Work Ombudsman has released a new app called “Record My Hours,” to help reduce the amount of disputes regarding underpayments between employees and employers. The app assists employees in recording the hours they work and other information about their employment for circumstances where issues about their pay arises. Employees can export the data…
