Amidst the chaos of the COVID-19, better known as the coronavirus, and concerns for Australia’s weakening economy, the Morrison government most recently released a “coronavirus stimulus package” largely targeted at stimulating the Australian economy through cash payments and tax relief for small to medium-sized businesses. Worth more than $17 billion, the stimulus package is planned…
Gone are the days of your visits to the bank to check on your credit balances. With banks consistently improving their client services and moving to easily accessible platforms such as the web and apps, there are more and more opportunities for you to self-organise your money with the services your bank provides. Here are…
With a quarterly business activity statement (BAS) due next month, it is important that you have updated your lodgement options according to the new system. From 27 March 2020, AUSkey, including Manage ABN Connections, will be replaced by myGovID and Relationship Authorisation Manager (RAM) and you will no longer be able to access government online…
Since the second half of 2019, industry super funds have begun to merge their organisations in an effort to combat APRA’s growing potential in taking action against trustees of underperforming funds. While supers are assuring their members that funds are only merging for their best interest, what exactly will the merging of your super fund…
Division 7A under Australian legislation is currently concerned with private company benefits given to shareholders which are taxable under the premise of income tax purposes. For two years, the Australian government has announced that they will be making changes to the law – however, experts predict that the changes may be deferred for the third…
Diversity and Inclusion is a growing concept that many businesses – from SMEs to MNCs – all around the world are grappling to understand and implement into their workplace. But what exactly does D&I entail and why is it becoming so important for businesses and employees? Social inequality has long been a complex global problem…
Running your business from home can have great benefits, such as being able to spend more time with your family, not having to travel, and deciding your work hours. To make the most out of your home business experience, it is important to be aware of what tax deductions you can claim. If your home…
Whether you are a newcomer to the workforce or have been working full time for 30 years, you must have come across the concept of superannuation. Chances are, you’ve already been steadily building your retirement funds in one of the 500 Australian superannuation funds but are still unfamiliar with how exactly your super is being…
A career mentorship program involves partnerships between employees to develop professional skills and gain industry knowledge. Career mentoring programs are often seen as powerful development tools for cultivating both leaders and employees within a business. Whether you are a small business owner or a multinational corporate leader, the implementation of a mentorship program will always…
If you are a small business employer wishing to dismiss employees, you must do so according to the Small Businesses Fair Dismissal Code, as breach of the code could result in legal action taken against you. If your business has less than 15 employees, it counts as a small business. Employees can apply for unfair…