Author Archives: Collins and Co
Flexible workplace arrangements might be the way to go for businesses
Businesses working from home due to social distancing restrictions can take the opportunity to learn from the experience and consider new work structures coming out of COVID-19. This could mean increased flexibility for employees when it comes to working remotely and adaptable hours. Hereās why flexible work arrangements with your employees may be beneficial for […]
Importance of transparency in social media
Spreading misinformation and fake news has become all too easy right now because of social media. How easily social media facilitates deception has meant that being transparent is really important. A survey, conducted by an information research based company, found that 94% of people are likely to want a long-lasting relationship with companies that demonstrate […]
Splitting your SMSF assets during divorce
Running an SMSF under regular circumstances comes with enough compliance obligations as it is. Adding divorce or separation into the equation can raise even more legal and tax issues that need to be addressed.Ā The breakdown of your relationship does not absolve you from your responsibilities as an SMSF trustee; you are still expected to […]
Handling deductions for self-education expense
Individuals upskilling and educating themselves during these down times may be eligible to claim a deduction for their self-education expenses. The deductions apply to self-education activities that are directly related to an individualās work as an employee. In the case that individuals are looking to claim self-education expenses based on a courseās relation to their […]
The critical steps to a successful partnership
It is a tall order to ask for a business owner to manage everything alone, much less lead their business into success. This is why many successful businesses are born from partnerships. Partnerships can be advantageous to business owners looking to balance their complementary talents and personalities. Sharing the experience of running a business can […]
Readapting to working from the office
As businesses are looking to bring their employees back into work, it is important to ensure that your workstyle practices allow you to seamlessly integrate into working from the office. Try adopting these changes to make your transition into the office space easier. Structure your daily routine Working in an office space structures your day, […]
Division 7A and private loans
It is not uncommon for businesses to provide loans to shareholders or associates of a company. However, business owners should know the conditions that their loan must satisfy under Division 7A, to avoid the amount being deemed a dividend. Written agreementDivision 7A loan agreements need to be made under a written agreement before the private […]
Avoiding SMSF disputes
One of the benefits of SMSFs is the amount of control you have from managing it yourself. However, self-management can leave room for disputes among related parties, especially when family members are involved. SMSF disputes can be caused by a number of factors, such as relationship breakdowns, (common in funds where parents and siblings are […]
Cyber security tips for your business
COVID has prompted businesses to go digital, making cyberattacks an easy job for scammers. Small businesses are especially at risk because of the lack of resources to purchase high security tools and software. Consider using the following strategies to avoid each type of risk to give your business the extra protection it needs. Avoiding Phishing […]
Dealing with work-related anxiety
Studies have shown that while only 9% of individuals have a diagnosed anxiety disorder, 40% experience ongoing stress or anxiety in their daily lives. For many, work can be the source of constant stress. Signs that you may be feeling anxious at work include excessive or irrational worrying, sweating, increased heart rate, feeling jittery, or […]