Author Archives: Collins and Co
Common mistakes to avoid when launching a business
Starting a new business is an exciting time for many entrepreneurs. However, there are 5 common mistakes many new business owners make. By being aware of these mistakes, you will increase your chances of success and remove the risk of your new venture turning into a failure. Being unprepared:Organisation is key when it comes to […]
Consolidating your debt
Debt consolidation loans are a financial solution that may be suitable when you have multiple debts at once and are struggling to manage them all. Debt consolidation is the process of bringing together all of your current outstanding debts into one single repayment. This is typically done by taking out a new personal loan to […]
Protecting your business with social media security
With the amount of information that is being shared online increasing more than ever, now is the time to think about social media security for your business. While there is no doubt that social media can benefit businesses by creating a more engaged and connected world, it can also pose a threat by allowing cybercriminals […]
ATO impersonation scam report
The ATO has released an Impersonation Scam Report for the month of February 2019. Highlighted are the various ways in which scammers have attempted to contact people, posing as the ATO. The most common method of contact was by phone calls or messages, accounting for 97% of reported scams over the month. Reports of 9,342 […]
ATO warns of TBAR lodgement errors
With upcoming annual lodgement dates for Transfer Balance Account Reporting (TBAR), the ATO is alerting funds of common lodgement mistakes that could lead to delays and additional processing time. The Transfer Balance Cap (TBC) is a $1.6 million cap on the total amount of superannuation benefits that a member can transfer into a tax-free retirement […]
Handling negative feedback
Customer complaints are an inevitable part of running a business. How you handle negative feedback can help or hinder retaining existing customers. Complaints can be a great learning tool for businesses looking to improve their services, products, customer satisfaction and overall competitive edge. Poorly handled complaints can see customers withdraw their business and encourage others […]
Super changes to protect employees’ entitlements
Several revisions from the Treasury Laws Amendment (2018 Measures No.4) Bill 2018 took effect from 1 April 2019. These measures are designed to help reduce the super guarantee (SG) gap, protect employees’ super entitlements and strengthen the ATO’s ability to recover unpaid super. Changes to disclosure laws will now allow the ATO to disclose information […]
ATO monitors personal living expenses
In an ongoing effort to address misuse and abuse of the tax and regulatory systems, the ATO has implemented a new tool to monitor what constitutes reasonable personal living expenses. Information is requested by the tax office to identify unreported cash income when looking at household expenditure. An individual will be required to provide this […]
Perks for your employees that you can afford
Supporting your employees doesn’t have to break the bank, as you can provide perks in the form of policies rather than material rewards. Creating a work environment with actionable benefits can increase productivity whilst attracting and retaining skilled employees. Flexible Work:An attractive perk that an increasing number of companies offer is flexible work. Small businesses […]
Identifying workplace discrimination
Employers have a responsibility to ensure their employees and people who apply to work for them are treated fairly. Set out in federal and state anti-discrimination legislation and the Fair Work Act 2009, unlawful workplace discrimination occurs when an employer takes adverse action against an employee or prospective employee because of their background or certain […]