• Evaluating your social media campaign 

    The evaluation part of a social media campaign is often just as important as the campaign itself as it provides insights of consumer behaviours, sales data, and the failures and successes of the strategies and tactics implemented. This is crucial to your company’s future as it will help determine how the next campaign should run based on an analysis of previous campaigns. People typically associate evaluations with the end of a project, however, it is important to have regular, ongoing evaluations of your social media campaign to see if any changes should be made earlier. Ongoing analytic tools can be already integrated into the social media platform such as Facebook insights, Youtube and Twitter analytics, or can be third-party apps such as Buffer Analyse, Sprout Social, and Zoho Social. You can learn a lot about how your campaign is being..

  • Start saving for the Christmas period early

    If shopping centres aren’t even putting up their Christmas decorations yet, then the holiday period may seem to be a concern of the distant future. However, the season has a tendency to creep up on people and can often come with financial burdens. Planning your holiday expenses early can cut out one of the biggest stresses of the season and allow you to focus on enjoying the festivities and spending time with your loved ones. Less than 20% of Australians start saving for the Christmas period two to three months in advance. Those who don’t set aside enough time to save often turn to using a credit card. Over a quarter of Australians rely on credit cards to cover the costs of the holiday season, which can result in post-Christmas debt. If you need to use a credit card, consider..

  • Knowing when to cut a product

    Businesses looking to improve their profitability may need to consider cutting under-performing products and services. How a product contributes to growth strategy, brand management and production efforts can help you determine whether you should discontinue it. Underperforming products can drain the company’s resources and finances that could be used to profit elsewhere. It might be time to discontinue if a product fits the following scenarios: Low profitability. Stagnant or declining sales volume or market share. Maintaining your market share is too costly. Risk of technological elimination. Poor fit with business’s strengths or declared mission. When deciding whether to discontinue a product, there are a few ways you can examine your services and make the decision that is best for your business. 80/20 rule:A commonly used marketing and business rule states that businesses should focus their attention on the 20% of..

  • Super law changes to NALI and LRBA

    Integrity measures included in Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 have now been enacted with an effective date of 1 July 2018. There have been amendments made to non-arm’s length income (NALI) provisions and Limited recourse borrowing arrangement (LRBA) amounts will now be included in total superannuation balance (TSB) calculations. The bill passed both houses on 19 September and reached assent on 2 October 2019. NALI provision amendments:The definition of NALI has been expanded. From the 2018-19 income year onwards, the ordinary or legal income of a super fund will be NALI and taxed at the top marginal rate. This has been introduced to ensure SMSFs and other complying superannuation entities cannot evade the NALI rules by entering into schemes involving non-arm’s length expenditure, including where expenses are not incurred. Any capital gains from a subsequent..

  • GST margin scheme

    The margin scheme is a way of working out the GST you must pay when you sell property as part of your business. The amount of GST normally paid on a property sale is equal to one-eleventh of the total sale price. If the margin scheme is used, the GST is calculated on the difference between the sale price and your purchase price of the property or the property’s value. You can only apply the margin scheme if the sale of the property is taxable. The margin scheme has been designed by the ATO to help reduce the amount of GST that would normally be payable on sales of new property. It is not an automatic concession and the sale must be eligible for it to be applied. The margin scheme can be applied to subsequent property sales depending on..