When your job ends, whether there has been a termination of employment or redundancy you will receive a payment for unused leave. This payment will be taxed differently from your normal income. The taxation will vary depending on the reason why you left the job and any unused entitlements that have been accrued over your…
Each person uses the internet in a different way. Whether they regularly access the internet for their job or only go on it to watch movies and shows, users have found a way to utilise the internet for their convenience. One particular convenience that has come from the internet is being able to research a…
Taking a pay cut is never easy but there are some situations where it makes sense. Focusing exclusively on the salary could prevent you from looking at other factors which are also important. You may need to take a pay cut when you are making a career change. This is because you won’t have the…
The internet and social media have made it all too easy for customers to relay their feedback to businesses. This can be a great thing because it shows other customers or potential customers why they should choose your business. However, this also means that if a customer has a negative experience, then their public feedback…
Superannuation is an attractive target for scammers as a significant volume of funds are placed into super funds by Australians. There are some straightforward steps you can take to protect yourself from super scams. Know the rules Becoming familiar with the rules surrounding superannuation will alert you against scams which make false claims e.g. offering…
The government provides fuel tax credits for businesses with a credit for the fuel tax (excise or customs) that is included in the price of fuel used in machinery, plant, equipment, heavy vehicles, and light vehicles travelling off public roads or on private roads. Fuel tax credits a business receives depend on when the fuel…
Businesses that are registered for GST are required to lodge a business activity statement (BAS). These assist in the reporting and payment of: Goods and services tax (GST) Pay as you go (PAYG) instalments PAYG withholding tax Other tax obligations ATO will automatically send businesses who are registered for an ABN and GST a BAS…
Changing of name, address or job can mean that you lose track of some of your super. This means that there is money that belongs to you that is not currently in your super fund. Finding your super will collate your previous lost funds with your current account. It is likely that your lost super…
Protecting your business from legal fallout isn’t at the forefront when you are focussing your efforts on growing your small business. However, it is necessary. You can take the following simple steps so that you are protected from potential legal issues: Use written agreements: Don’t rely on the aural agreements on their own, confirm what…
Businesses can gain a lot from collaboration, regardless of the industry they are in. The following are some reasons why businesses should care about collaboration. Get inspired As a business, it is important to build a routine and figure out day-to-day operations. However, this might mean that you stop trying different techniques which could be…