Driving your social media with SMART goals

Expanding your business through the use of social media is a very smart decision; however, to do this successfully, you ought to set SMART goals. The use of SMART goals allows you…

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Using the principles of persuasion to influence customers

The six principles of persuasion developed by Dr Robert Cialdini can be used as a great tool to influence existing and potential customers, and business relationships. Reciprocity Centring around social obligation, the…

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The key to success: building trust

Trust is a considerable part of any relationship, but particularly business relationships. The ability to develop and nurture trusting relationships with your employees and potential business partners is the key to building…

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SuperStream for SMSFs

The SuperStream standard applies to self-managed super funds (SMSFs) that receive employer contributions and the associated data electronically. SuperStream is more timely and has a reliable flow of payments and information about…

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ATO targeting work-related expenses

The ATO is cracking down on individuals who are over-claiming work-related expenses. The Tax Office is reminding individuals that they can only claim a work-related deduction if: – they have spent the…

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Etiquette of social media posting

The longer you leave it to take your business’ social media seriously, the bigger the division you are making between yourself and your competitors. Social media is not to be taken lightly;…

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Changes to workplace laws

The start of the new financial year has seen some important changes to Australia’s employment laws. Not only do employers need to remain up to date and aware of amendments but they…

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How to stop micromanaging

Micromanaging your team can severely harm your business. Not only does micromanaging negatively impact productivity, but it can also lower levels of job satisfaction and morale. Fortunately, micromanagement can be changed as…

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Cash flow tricks you should be practising

The ability to manage cash flow is a critical tool for business owners. Incorporate the following cash flow tricks to keep the money coming in and the business running smoothly. Make payment…

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Compromising effectively as a leader

There is an art to compromising in a manner that will leave you happy with the result but also respected by those you are compromising with. Examine the advice below for compromising…

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Co-contribution eligibility

Super co-contributions help eligible individuals boost their nest egg. The government makes a contribution of up to $500 when certain individuals make personal (after-tax) contributions to their super fund. The amount of…

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Using the right business industry code

Employers must use the correct business industry code on their tax returns to ensure their return is lodged in the correct category. Using the correct business industry code reduces the risk of…

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Handling pushy salespeople

Rejecting a sales pitch can be difficult when dealing with a persuasive salesperson – however, having additional time to think about their offer is much more beneficial in the long run. Salespeople…

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Creating stand out web content

Creating web content is easy; creating stand out web content is a little more complex. It can be easy to get lost on the web, to create content that takes time and…

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Improving internal communication

Internal communication can mean the difference between having a team that thrives or plummets. Businesses with effective internal communication experience higher levels of productivity, have stronger working relationships and a positive workplace…

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SMSF record keeping

As the trustee of an SMSF, you are required by the Superannuation Industry (Supervision) Act 1994 to keep accurate records. There are specific records that need to be kept, some for a…

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Withholding from unused leave payments on termination of employment

When an employee leaves, business owners may be required to withhold from unused leave payments, under the PAYG withholding system. There are special rules for withholding that apply to payments made to…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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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…

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Transfer balance cap for retirement phase accounts

There will be a new transfer balance cap for retirement phase accounts as of 1 July 2017. Individuals may have an excess transfer balance and have to pay excess transfer balance tax…

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Simpler BAS on the way

From 1 July 2017, the ATO is reducing the amount of information needed for the business activity statement (BAS). Small businesses with a GST turnover of less than $10 million will use…

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Using meta descriptions to generate business

With many potential customers using Google search to find businesses to meet their needs, having an influential meta description can be a powerful tool. A meta description is the content that appears…

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Minimum wage increase from 1 July 2017

The Fair Work Commission (FWC) has announced a 3.3 per cent increase in minimum wages starting from 1 July 2017. The new national minimum wage will be $694.90 per week or $18.29…

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Networking tips and tricks

The ability to network effectively can greatly increase the success of your business. Networking and getting your name out there – in a positive way – builds credibility for your business and…

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What is an interest-only loan?

Interest-only loans have grown considerably in Australia over the past few years. However, a recent crackdown from the Australian Prudential Regulation Authority on this type of lending highlights the risks of these…

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Overcoming critics when developing your business

When developing a business or coming up with a new idea, there will always be people that focus on the negative: they tell say you can’t do it, that something will go…

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Removal of election to treat super income streams as lump sums

Individuals will no longer be able to elect to treat super income stream benefits as lump sums for tax purposes as of 1 July 2017. For those who are receiving a super…

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Changes to personal super contributions

From 1 July 2017, the 10 per cent maximum earnings condition will be removed for those individuals who wish to claim a deduction for personal super contributions. In 2016-17, individuals can claim…

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Avoiding online scammers

Protecting business from any kind of threat is a priority. However, when it comes to online security, many business owners are not practising secure measures to protect their business. Online scamming and…

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Running a productive business meeting

Business meetings can be really interesting, or they can be extremely boring, particularly for employees. There are ways to make business meetings engaging and productive where no one is twiddling their thumbs…

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Are you paying your casual employees super?

As an employer, you must pay your employees super if they meet specific conditions, regardless of whether they are employed full time, part time or casually. The Australian Taxation Office outlines the…

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Claiming GST credits

Employers can claim a credit for any GST included in the price of any goods and services they buy for their business. To claim GST credits, business owners must be registered for…

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How to generate the perfect Facebook post

Creating the perfect Facebook post is a real art. There is much to be considered when posting in relation to what and what not to do. If you consider the following tips,…

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ACCC compliance priorities for 2017

The Australian Competition and Consumer Commission (ACCC) has named its key enforcement and compliance focuses for 2017, including misleading and deceptive practices, anti-competitive conduct and unfair contract terms affecting small businesses. The…

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How to improve customer trust

Trust is key to creating and maintaining customer relationships. When customers trust your brand, they are more likely to shop with you and recommend your business to others. Building trust can take…

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Weighing up unit trusts

Unit trusts are a way of holding assets and are most commonly used as a form of investment strategy. A unit trust is a particular type of trust that allows individuals to…

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Attaining a natural energy boost in the workplace

Do you often feel tired or run down at work? Does the afternoon hit and you start getting distracted? Luckily there are behaviours you can practice to help boost your energy levels…

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Are you paying super correctly?

Employers have an obligation to pay superannuation to eligible workers – not paying super guarantee (SG) can result in penalties and loss of tax incentives such as tax deductions. Employees who earn…

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Franking credits – rate change

For 2016-17, the small business company tax rate has been reduced to 27.5 per cent and the maximum franking credit small businesses can allocate has decreased from 30 per cent to 27.5…

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Retaining employees

Retaining employees is important when building and maintaining a successful business. Creating a business with high employee retention rates will save you money in hiring and training costs and will help in…

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Common mistakes businesses make on Twitter

With over 328 million monthly users, Twitter can present businesses with numerous opportunities to gain new clients and strengthen existing client relationships. It is important to use Twitter effectively in order to…

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Handling a busy calendar

It is inevitable that at certain times, you are going to be busier than normal. It is these times that require careful planning in order to complete the tasks that need completing…

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