Monthly Archives: March 2017
Budget friendly online marketing strategies
Online marketing strategies are a cost-effective way for small businesses to create awareness and attract target customers. Although small businesses don’t have the budgets and resources large companies can afford, they are not completely at a loss as there are many low-cost online marketing strategies available. Here are three low-cost marketing strategies to boost your […]
How to increase prices without deterring customers
Although, some business owners may be apprehensive at the thought of increasing prices, it is an inevitable and necessary part of business survival. While most customers may not be thrilled by the announcement of a price rise, there are ways to approach a price raise for a more favourable reaction. Here are the best tactics […]
Creating an office of problem solvers
One major key to success is the ability to problem solve. Knowing how to respond to and resolve issues that arise creates stronger, more effective businesses. Whilst employees ought be highly skilled in their given fields, one trait that is truly invaluable is that of problem solving. As an employer, there are tips you can […]
Who is a ‘related party’ in an SMSF?
Self-managed super funds (SMSFs) have a number of investment restrictions which apply to transactions conducted within the fund. One such restriction applies to transactions involving ‘related parties’ of the fund and ‘relatives of members.’ No one associated with the SMSF should obtain a present-day benefit from the fund’s investments. The fund needs to meet the […]
ATO to report unpaid debts to credit agencies
The Mid-Year Economic and Fiscal Outlook 2016-17 (MYEFO) announced that from 1 July 2017, the ATO will disclose tax debt information of businesses who have not effectively engaged with the ATO to credit reporting bureaus. The new measure is aimed at enhancing the integrity of the tax system and ensuring businesses who are not compliant […]
ATO concern with lower cost SMSF Audits
ATO Commissioner Chris Jordan says following its investigation into lower-cost audits, which it defines as audits that charge less than $400, the tax office identified several problems with these audits. “No great surprise, we have found cases of concern where they’ve failed to conduct any sort of adequate audit that complies with any of the […]
FROM 1 JULY 2017 BUSINESSES MAY NEED TO ENGAGE WITH THE ATO ON OUTSTANDING DEBT OR RISK 5 YEARS OF BAD CREDIT
From 1 July 2017, the Government will allow the Australian Taxation Office (ATO) to disclose to Credit Reporting Bureaus the tax debt information of businesses that have not effectively engaged with the ATO to manage these debts. The ATO does not currently provide this information. This measure will initially only apply to businesses with Australian […]
Getting your business insurance right
Business insurance can be a tricky area to navigate. Being under-insured can spell the death of a small business, but, on the other hand, it is all too easy to end up paying insurance premiums that are too high. This can place a significant drain on your business’s valuable resources. Some common types of insurance […]
Reviewing your trust deed before 1 July
With changes to Australia’s superannuation rules coming into play on 1 July 2017, self-managed super fund (SMSF) trustees would do well to review their fund’s trust deed. Despite the fact that maintaining an up-to-date trust deed is a vital aspect of managing a SMSF, many trustees fail to do so, usually due to the time […]
Offering employees non-cash benefits
Most small business owners would love to be able to offer their more valuable employees a pay rise. Increasing an employee’s pay is likely to reduce staff turnover, increase job satisfaction and boost productivity by raising motivation and commitment. Unfortunately, most small business owners are simply not in a position to offer their staff a […]