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Keeping your virtual team on track

Posted on February 6, 2020 by admin

Managing a virtual team can offer challenges that you won’t experience in-person teamwork. It can be harder to schedule meetings, show demonstrations and build connections. However, having a virtual team offers convenience, opportunity and freedom for the team members, so here are some tips to help you make it work…

Define goals and roles
At the start of the project, outline the project goals and objectives so that everyone is working towards the same thing. Delegate roles and obligations to each team member to avoid confusion and overlap. This will keep the team on track despite not physically seeing what each other is up to.

Stay engaged
In-person teams have many opportunities to check in with each other and see each other’s progress. As a virtual manager, it is important to create opportunities to stay in touch with your team, such as having regular phone calls or checkpoint meetings. This will provide your team with regular reminders of work that will help keep them on track and meeting checkpoint deadlines.

Use online tools
While you’ll most likely already be using online messaging tools, there are plenty of other apps and platforms you can also use to improve organisation and productivity. You can search for collaborative tools for things like mind mapping, video calls, sketching, calendars, to-do lists and schedules. These online tools can help your team see each other’s ideas, progress and deadlines.

Create time for casual interactions
Building connections between team members can be difficult with exclusively online work. If appropriate, you can consider creating opportunities for your team to get to know each other on a more casual basis to improve moods and collaboration. If everyone in the team lives very remotely, you can have more relaxed video calls where everyone can introduce themselves and chat as well as work. If the team lives in the same city, consider having in-person meetings and outings.

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When do you have to pay tax on shares?

Posted on February 20, 2020 by admin

Investing in shares is a popular method of growing your wealth, however, there are tax obligations you need to be aware of to get an accurate sense of how much you’ll need to put aside for your investments.

When you own shares, you need to declare all your dividend income on your tax return. It is possible to claim tax deductions for certain expenses you pay to receive income from your shares. The deductions you are eligible for will depend on if you are carrying on a business of share trading or if you are an individual share investor, but they can include:

Individual share investors cannot claim a deduction for the cost of acquiring shares, such as costs for brokerage and stamp duty, however, they can claim deductions on the prepayment of expenses related to the shares such as internet fees or seminars.

Buying and selling shares can involve capital gains tax (CGT), depending on whether you make a capital gain or a capital loss on your shares. Your capital gains or loss is the difference between the price you paid for the shares and the price you sell them for. If you end up selling your shares for more than you paid for them, then you make a capital gain which may be taxed.

How much CGT you need to pay varies depending on:

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