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Should You Join An Employee Share Scheme?

Posted on July 9, 2021 by admin

Known as an employee share purchase plan, share options or equity scheme, employee share schemes are used to attract, retain and motivate employees. Schemes can vary depending on the company (and the terms of the scheme can differ depending on the company) so it is important to consider carefully what the pros and cons are before becoming involved in an employee share scheme Employee share schemes are designed so that you can receive or buy shares in the company that you work for. Often those shares are available to you at a discounted rate from what is currently the market […]

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Your Future, Your Super – What Does This Mean For Your Superannuation?

Posted on July 8, 2021 by admin

There has been a shakeup within the superannuation industry after the latest government reform passed through the Senate. You may have heard of Your Future, Your Super, which was introduced during the Federal Budget announcements of 2020-21, and wh Your Future, Your Super was introduced during the Federal Budget 2020-21 announcements as a reform measure to address growing concerns about the performance of the superannuation industry.    Under the reform, superannuation funds will now face an annual performance test, public ranking by the Tax Office and the loss of an easy source of new members.  One of the most notable […]

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Do You Need A Receipt For That Claim? ATO Cracks Down On Work-Related Expenses

Posted on July 6, 2021 by admin

The ATO is warning those submitting their tax returns this year to take care when submitting ‘other’ work-related deductions to claim back, as they are closely scrutinising. If you are planning on claiming work-related deductions this tax return season, you will need to show: That the money that was spent was on yourself and was not reimbursed  That the expense was directly related to earning your income That there is a written record of the amount being claimed   To ensure that you remain compliant with your tax obligations when claiming work-related expenses, you should ensure that you have access […]

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Choosing A Structure For Your Business: The Co-Operative Explained.

Posted on July 5, 2021 by admin

Sometimes you might want to set up a structure where you will share in the spoils with everyone that deals with that structure.  There is a specific type of structure for this and it is known as a Co-Operative   A co-operative business structure (or co-op) is a legally incorporated business entity that is designed to serve the interests of its members. Co-operatives may be profit-sharing enterprises or not-for-profit organisations.    A cooperative business serves members by providing goods and services that may be unavailable or too costly to access as individuals. There are two types of cooperatives that businesses […]

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ATO Says Different Payments Will Have Different Tax Treatments.

Posted on June 30, 2021 by admin

The ATO is looking to make tax season a little bit easier this year, particularly in light of the unique but significant challenges that Australians have been facing over the last year, and are continuing to face. If you received a financial assistance payment, grant or scheme package during the 2020 financial year, you need to be aware of your taxable requirements. There are different tax treatments for different payments that you may have received.    Jobkeeper Payments that were received from Jobkeeper as an employee will be automatically included in your income statement as either salary and wages, or […]

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Planning Out Succession For Your Family-Run Business

Posted on June 29, 2021 by admin

Family-run businesses form an essential part of the economy. Tradition, success and history along with their unique dynamic can create a thriving business that many may wish to see continue.    However, as with any business, the conversation about succession and how to continue the business into the future needs to be had.    With only 1 in 4 family-operated businesses considering their approach to succession formally, succession in a family business is one of the greatest viability risks to the actual business and needs to be addressed accordingly.   Every family and family-run business is unique, and every transfer […]

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Recent Changes To Your Superannuation That You Need To Know

Posted on June 28, 2021 by admin

There were a few changes to superannuation that were passed by the Senate recently.   You can now use the bring-forward rule to make three years’ worth of non-concessional contributions (where you don’t claim a tax deduction) up until the age of 67.     Last year the rules had changed to permit a person to make non-concessional contributions up to the age of 67 but the use of the bring forward rule had stayed at an age limit of 65 years old, as it required a full Bill to be passed by both Houses of Parliament.     This new age […]

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Boosting The Business With A Free Resource: Your Customers

Posted on June 23, 2021 by admin

More and more Australians bought local products during the past year and rallied behind smaller businesses, which buoyed many shops that may have otherwise struggled to stay afloat.  To create this kind of loyalty and support it’s crucial to develop and maintain a strong connection with your customers.  If you are a small business, this is a vital aspect of business management that you will want to have occurred to strengthen customer relationships.  Make The Customer Feel Special Customers want to feel special – you can achieve this by approaching each customer as an individual rather than as a customer […]

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What Is Ethical Investing?

Posted on June 22, 2021 by admin

Ethical investing is gaining traction, with more and more investors selecting where their money will go based on their personal principles. This style of socially conscious investment holds companies accountable for their negative impacts and is driving many investors to select their investments dependent on their mutual shared values. Ethical investing can align with moral, social, political, religious and environmental values, and takes them into account prior to making investment decisions. The primary objective of ethical investments is to create a positive impact by investing in companies that take environmental, social governance (ESG) and ethical issues into consideration and make […]

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The ATO Warns Gig Economy Workers To Declare Their Income, Or Face Severe Penalties

Posted on June 21, 2021 by admin

The inexpensive and profitable side hustle is under the ATO’s watchful eye when it comes to declaring income this tax season. With many gig economy workers often earning their income as independent contractors, the ATO warns that a failure to report all income from all of the work that they carry out could land them with severe penalties.    The ATO is expected to employ advanced data-matching from platforms that play host to large proportions of Australia’s gig economy to ensure that tax is declared and paid on the income from workers of the gig economy. Those workers may include […]

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Should You Join An Employee Share Scheme?

Posted on July 9, 2021 by admin

Known as an employee share purchase plan, share options or equity scheme, employee share schemes are used to attract, retain and motivate employees. Schemes can vary depending on the company (and the terms of the scheme can differ depending on the company) so it is important to consider carefully what the pros and cons are before becoming involved in an employee share scheme

Employee share schemes are designed so that you can receive or buy shares in the company that you work for. Often those shares are available to you at a discounted rate from what is currently the market price. Employee share schemes are a great way to reward or remunerate employees for their work. They also incentivise employees to stay with your company for longer and share in its success

There are different ways of paying for shares, such as:

You may be able to receive shares as a performance bonus or as remuneration instead of a higher salary. In a large company, this may come as “ordinary shares” which give an equity investment, but in a smaller company, you may only receive dividends.

Each share scheme is different, so look at the terms and conditions of the offer. Check:

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