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Pros and cons of hiring an intern 

Posted on December 4, 2019 by admin

With so many eager school-leavers looking for employment opportunities, hiring an intern can seem like a good way to offer work experience to someone without the risks of a long-term commitment of a regular employee. However, you should consider whether hiring an intern would be the best move for your business. Here are some pros and cons you may run into:

Pros:

Potential employment: If you feel that the intern fits into the workplace well, you could offer them employment later on. This is often a smoother introduction to employment as they are already trained and familiar with the business. However, you are not obligated to offer them a job if you don’t feel they are a good fit.

Social media insight: Most interns are young and tech-savvy and could offer important insights into the world of social media for the new generation. They could help you devise relatable, trendy content for your social media that you may not have considered.

Cons:

Inexperienced: If you’re looking for some to take on roles that require knowledge and experience, an intern may not be the right choice as they often have limited work experience in career based roles.

Less flexible: If an intern is still studying, then the hours they can offer you can be limited and variable depending on their timetable. As well as this, when exam periods arrive they could have an exam on a day they would normally work, or may ask for time off to study.

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PAYG instalments for business and investment income

Posted on October 29, 2020 by admin

Pay as you go (PAYG) instalments are payments you can make throughout the year to avoid accumulating a large tax bill to pay at the end of the year. Making these payments is a great way to budget for income tax and keep a healthy cash flow.

To qualify for PAYG instalments, you must earn over a threshold amount from your business or investment income (also known as instalment income).

The amount that you pay in PAYG instalments throughout the year will be offset against any owed tax for the entire year. But it is important to lodge your activity statements and pay all PAYG instalments before lodgment of tax returns if you want these to be included in your tax assessment.

There are two options for calculating and paying PAYG instalments:

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