The issue of employees misusing company time has become a growing concern, particularly with more people working from home and away from the prying eyes of managers. From excessive personal internet use to extended lunch breaks, such practices can lead to legal consequences for both employees and employers. Let’s explore the legal landscape surrounding this…
In the realm of taxes and financial matters, it’s crucial to tread carefully and stay within the bounds of legality. The Australian Taxation Office (ATO) recently uncovered a surge in GST refund fraud attempts, amounting to a staggering $850 million involving around 40,000 individuals. This eye-opening revelation sheds light on the consequences of fraudulent activities…
Determining the value of your business is a critical step when contemplating a sale. Unfortunately, a significant number of business owners are unaware of the monetary worth of their enterprises. The process of ascertaining the financial value of your business is not a straightforward formula but rather a nuanced assessment involving several key factors. Additionally,…
Financial responsibility is the cornerstone of a secure and prosperous life, a fundamental skill everyone should strive to master. Whether you’re just starting your financial journey or looking to enhance your fiscal prudence, discover insights and guidance on nurturing financial responsibility through the following tips. Budgeting and Planning: Effective budgeting is the foundation of financial…
Successful businesses are not built solely on the strength of their products or services but on the capabilities of their people. Developing staff is an investment that pays significant dividends and is crucial for success. So, how can you capitalise on this? Enhancing Skills and Competencies: One of the most evident benefits of staff development…
Superannuation, often called ‘super,’ is a vital part of Australia’s financial landscape. It’s a retirement savings system intended to provide financial security in your golden years. However, despite its widespread use and importance, there are several common misconceptions about superannuation that many Australians hold. Let’s shed light on some of these misconceptions and clarify how…
Sending generic, one-size-fits-all emails to your entire subscriber list is no longer a viable business strategy. Enter email segmentation – a game-changer in the world of email marketing. What is Email Segmentation? Email segmentation is the practice of categorizing your email subscribers into distinct groups based on specific criteria. These criteria can include demographic information,…
Superannuation guarantees are a vital part of Australia’s retirement savings system, and chances are you’ve encountered this term when discussing your workplace benefits. But what exactly are superannuation guarantees, and how do they affect your financial future? Let’s break it down in simple terms. What Is A Superannuation Guarantee? A superannuation guarantee (SG) is a…
As a business owner, one of the perks is the ability to claim tax deductions for expenses related to motor vehicles used in your business operations. This includes cars and certain other vehicles that play a role in running your business smoothly. The good news is that claiming motor vehicle expenses can help reduce your…
In times of a cost-of-living crisis, where expenses seem to be ever-increasing, adopting a comprehensive budgeting strategy becomes not just advisable but essential. Budgeting can help you regain control over your finances, alleviate stress, and maximise your available resources. Here’s why budgeting is crucial during such challenging times: Financial Awareness: A well-structured budget provides you…