Containing business costs effectively

Containing business costs effectively

Saving money should be a priority in any business. The ability to cut costs on the overheads involved in running a business is a skill that can set you apart from others and can improve the longevity of your business. Consider the following tips for containing business costs effectively. Be resourceful: there are a plethora…

Advantages of SMSFs

Advantages of SMSFs

Self-managed super funds are an effective superannuation strategy for those individuals looking to exercise greater autonomy over their retirement. Examine the following advantages of using a SMSF. Minimise tax bill: one of the major benefits of using a SMSF is the ability it provides you to minimise your tax bill. Investment income is taxed at…

Reminder Trust income deadline approaching

Reminder: Trust income deadline approaching

Trustees are required to make resolutions to distribute trust income by 30 June 2017 to ensure that the resolutions create present entitlement for tax law purposes. The ATO is reminding trustees to make the income distributions in accordance with the trust deed. Some trust deeds may require the making of resolutions before 30 June 2017.

How to promote creativity in the workplace

How to promote creativity in the workplace

Creativity is the cornerstone of innovation. Flourishing businesses place a great deal of emphasis on encouraging creative work environments to seek out new ideas and opportunities for business growth. Creativity is not reserved for the creative industry alone; most businesses can incorporate creativity into their workplace to improve problem-solving skills and become leaders in their…

Managing employees effectively

Communicating effectively with employees is the essence of successful management. Here are three ways to manage your employees more effectively: Focus on constructive feedback When providing feedback stick to the facts and avoid making it personal. Feedback is only useful when it is clear and constructive. Avoid making comments on things that the person cannot…

Clarity surrounding death benefit pensions above transfer balance cap

Clarity surrounding death benefit pensions above transfer balance cap

Information released in the ATO’s Practical Compliance Guideline 2017/6 has clarified much confusion surrounding superannuation reforms and the commutation of a death benefit income stream before 1 July 2017. When an individual dies, their superannuation and remaining superannuation interests are to be cashed to their beneficiaries or legal representative by their superannuation provider. This payment…

Email etiquette

Email etiquette

Email marketing needs to be done well for it to be of any benefit to your business. If it is done poorly, it can actually be quite damaging for your business as it can make you come across annoying and unprofessional. Frequency One of the biggest flaws in your email marketing strategy is to send…

Developing a keyword strategy

Developing a keyword strategy

A strong keyword strategy can improve your site’s SEO and help to connect your products and services with prospective customers. A keyword strategy involves using targeted keywords that best describe your business and the needs/wants of its customers. Generating a keyword strategy involves using various keywords and long-tail keywords (keyword phrases) in your online content…

Saving on overhead costs

Saving on overhead costs

Owning a business will, especially for new business owners, entail a number of fees and costs that can reduce profits. Luckily, there are many ways to save money on overhead costs. Below are just a few: Brand ambassadors Saving costs on marketing and promoting your business by using existing customers as brand ambassadors is an…

Getting employees to work as a team

Getting employees to work as a team

Having a group of employees that work as a team is a strong asset for your business. Individuals who are used to working as a team and feel comfortable doing so are more likely to be strong problem solvers, resourceful and supportive. The following tips can enhance the way your employees interact with each other:…