radford tax logo
07 5495 4100 ◆

An Ethical Business for You

Posted on March 18, 2021 by admin

Business ethics are the system of moral and ethical beliefs that guides the values, behaviours and decisions of a business organisation and the individuals involved within that business. These ethics are important to business as many of them are tied directly into the law, and breaches of these can be punishable as an offence

. Though this varies by industry, a business’ ethics can have a significant impact on how a business may operate on a day to day business.

Business ethics can often be seen in the code of conduct that businesses and their employees follow.

Here are some of the benefits of a business taking ethics into consideration

In essence, profitability and business ethics are linked. Companies that are perceived to have better ethical responsibility and operate in such a way may have a better reputation overall. With investors leaning more towards socially responsible and ethically responsible companies to invest, companies need to align themselves with appropriate ethics moving forward.

 

https://www.investopedia.com/ask/answers/040815/why-are-business-ethics-important.asp

maximise your business's value

latest news

What Is A Retirement Planning Scheme?

Posted on April 21, 2021 by admin

With a significant number of Australians approaching retirement and looking at the best ways to maximise their retirement assets and income from their super for it, retirement planning makes sense.

Unfortunately, there are those who want to target people approaching and planning for their retirement with schemes designed to ‘help’ retirees and prospective retirees avoid paying tax by channelling their income through a self-managed super fund.

Retirement planning schemes are designed to help people avoid paying tax on the income earned through their assets (often in an illegal manner). Those schemes may seem like a simple get-rich-quick solution in maximising assets and income for retirement but can put people’s entire retirement savings at risk.

Anyone can fall prey to a retirement planning scheme. Anyone who is looking to put significant amounts of money into superannuation can be at risk of being ensnared, particularly those who are over 50, and who are:

Checking for standard features of retirement planning schemes can be an excellent way to avoid becoming tangled in one. Retirement planning schemes usually:

Currently, there are a number of schemes targeted towards those individuals who currently have an SMSF, as they have a high level of control and autonomy in the way that their retirement savings are invested (subject to applicable tax and super laws).

Some examples of retirement planning schemes include:

To avoid becoming a part of a retirement planning scheme, seek professional advice on super or SMSFs from an accountant.

radford tax associationsradford tax associationsradford tax associations