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Leading change

Posted on August 23, 2017 by admin

All businesses, at one stage or another, will have to go through significant change. Change is necessary for growth but accepting the need for change can be difficult for some.

Change can arise in various ways, i.e., struggling to find quality employees, a demand to change direction, targeting a new target market and so on. Whether it is an internal or external force driving the change; it is important to lead change confidently.

Here are three ways to lead change with ease:

Articulate a clear vision
A strong strategic vision acts as a blueprint for leading change and can provide employees with more clarity about the positive impacts change will have for them and the overall business. A vision statement helps to align your team around the business’ goals and prompts them to work towards making the change happen. A clear vision also helps to overcome cultural resistance to change as employees can link the change to positive transformation.

Engage with staff
Staff will either accelerate or hinder the change process, so it is crucial to get them onboard and constantly keep them informed. Frequent communication is ideal during times of change. Set aside time for questions and have an open door policy for staff to ask questions. Make a plan, communicate it to staff and constantly check in to assess whether tactics are successful or require adjustment.

Celebrate wins
Wins are proof that change is generating results. Celebrating wins reinforces the notion that change is essential for business growth. Celebrating both small and large wins hones in on the collective contribution of the team’s efforts and motivates employees to work towards goals which will promote change throughout the business.

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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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