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Managing flexible working arrangements

Posted on March 15, 2016 by admin

In a rapidly changing business environment, it is essential that owners of small businesses get flexible working schemes right. Today’s employees continue to look for more balance between their personal and work lives. While some employers may think this may have a negative effect on their business, flexible working arrangements have been shown to benefit both the employee and the business they work for.

Nonetheless, it remains the employer’s responsibility to address how flexible working arrangements can be implemented in their business so all employees remain happy and satisfied. Here are some suggestions as to how employers can manage flexible working within their company:

No two employees are the same, which means employers shouldn’t take the same approach to every situation. Some workers may need to modify their working hours due to parental commitments, and some others may be more proactive with work if they are allowed to work remotely due to travel time or mobility issues.

If flexible working arrangements will see employees working more outside the office than inside, then it is vital for employers to keep communication consistent. Scheduling regular performance reviews and using a system to calculate work productivity can make employees more productive since they have measurable targets to aim for.

Flexible working schemes are also an obligation under Fair Work Australia. Employers must recognise that there are statutory legal requirements that cover flexible working arrangements for people like parents, those living with a disability and those who are 55 years or age, or older. Therefore, employers need to have the latest updated legal documents, contracts and processes to ensure their business continues to work within legal requirements.

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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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