Monthly Archives: May 2020
Spouse contributions – when are you eligible for a tax offset?
Contributions made on behalf of your spouse to a complying superannuation fund or a retirement savings account (RSA) may be eligible for a tax offset. The 2019/2020 tax rules allow you to claim an 18% tax offset on super contributions up to $3,000 on behalf of your spouse. While you are able to contribute more […]
Building your interpersonal skills at work
Demonstrating strong interpersonal skills in the workplace can boost your performance and improve your experience at work by promoting positive workplace relationships. Interpersonal skills that will help employees thrive amongst each other can include communication skills, negotiation, problem solving, teamwork, decision making, empathy and assertiveness. Here are some ways you can develop your interpersonal skills […]
What you need to know about fringe benefits tax
A fringe benefits tax (FBT) is a tax paid on benefits provided to employees (usually non-cash). FBT is calculated based on the gross taxable value of benefits employers provide to their employees. Employees must lodge their return and pay the total FBT amount they owe for the previous FBT year. Due to COVID-19, the FBT […]
Reviewing your business’ progress
With the current economic slowdown, now is the perfect time to review your business strategy and conduct a business “health check” to come out the other side improved and ready to go. Analyse whether or not your business is in the state that you want it to be in and any improvements you can make […]
What to look out for when entering a supply contract
When entering a supply contract, it is extremely important to work out all the nuisances before signing to prevent complications down the road and make sure conditions are favourable for you. Here are a few key pointers to look out for in your supply contract. Warranties Warranties are promises within contracts to both parties that […]
How to support your employees through COVID-19
Supporting your employees during chaotic times as an empathetic leader will improve your relationships within your business and boost personal confidence. Here are some ways you can support your employees mentally and financially during these uncertain times. Be open with your employeesAs businesses implode due to current economic circumstances, employees want transparency and closure over […]
Incorporating eCommerce into your business
eCommerce is becoming an effective alternative to traditional face-to-face business operations and may be the change you need to make for your business’ long term growth. eCommerce refers to the buying and selling of products and services online, either with business to business transactions or business to consumer transactions, and is a tool for small […]
Tax implications for workers with COVID-19 mobility restrictions
Employees who are not living or working in their regular location due to COVID-19 mobility restrictions need to be aware of the tax implications that apply to their situation. Individuals who ordinarily work and live in Australia but are temporarily overseas due to COVID-19 restrictions will not experience any changes to their Australian tax obligations. […]
Tax implications for workers with COVID-19 mobility restriction
Employees who are not living or working in their regular location due to COVID-19 mobility restrictions need to be aware of the tax implications that apply to their situation. Individuals who ordinarily work and live in Australia but are temporarily overseas due to COVID-19 restrictions will not experience any changes to their Australian tax obligations. […]
Your current employer superannuation obligations
Paying your employees superannuation is an integral part of being an employer. Superannuation provides income for your workers in retirement and it is your legal obligation to make sure you are paying your eligible employees the right amount, on time, to the right place and also in the right way. The ATO has also introduced […]