It’s a daunting task, seeking someone who can fill a specific position that your business needs filled. It’s important that irrespective of how the economy is performing, the state of the workforce and what your business currently consists of, the employees that you hire are the best and most-talented people that you can get. Though…
In Australia any income earned by a job may be considered to be taxable income. Those who receive their income via the sharing economy are no exception to the rule. In fact, there can be further complications that result from incorrect understandings of how the income tax and goods & services tax may apply to…
When a business cannot deal with the workload in house, a candidate or party outside of the business is often hired to assist in performing those services. This is called outsourcing, and it’s a practice that companies sometimes use to cut costs – especially if it’s easier to do this than to train up another…
Marriage and de facto relationships come with a number of perks – but did you know that if your partner earns less than you or is not currently working, you could contribute to their super fund savings? Many households in Australia, either as a result of unemployment, maternity/paternity leave or by choice, have single-income households.…
It’s a simple, step-by-step process used by many Australians to increase their income. Borrow money from a financial institution, invest in a second property and pay off the loan with the profit accrued from the investment property (ie. rent from tenants). But did you know that the interest on a home loan for the purchase…
There have been critical changes to the workplace over the past year. With many office-based employees forced to work remotely or from home during the pandemic, the adaptation of new technologies, systems of work, and overall business models has changed the office’s approach. Many office businesses may need to reevaluate their structure and model as…
If you’re self-employed, you aren’t required to pay yourself super guarantee payments. It is however a recommended way to save for your retirement, and making personal super contributions could be beneficial for you in the long run. As a self-employed individual, you can make regular or lump-sum payments to your super, potentially claim a tax…
If you or someone that you know began a side business (or “side hustle”) during the last financial year, you would have to meet the tax obligations that come with that business, along with the tax obligations of your primary business. All income earned through a side business is taxable income. That means that every…
Every little bit of money counts in today’s economic climate, and for many, it’s about making what they have, work for what it is that they need. Money management is an important skill to learn as it helps boost finances with very simple steps. Money management can ease the stress and financial worries of people…
Checking that your pay as you go instalments (PAYG) still reflect your expected end of year tax liability is a good idea. PAYG instalments can be varied multiple times throughout the year, with the varied amount or rate applying to the remaining instalments for the income year, or until another variation is made. PAYG instalments…