• Managing work-based anxiety

    While anxiety and stress are quite often inevitable, it can take a severe toll on the state of your mental health and quality of life if not handled properly. In Australia, 1 in 4 people are affected by anxiety, making it more common than some may think. You are not legally required to disclose to your employer a mental health condition unless it has the potential to endanger your safety or that of your colleagues, such as your ability to operate machinery or make decisions. Though not necessary, informing your employer can help them to support you and better understand what you may need to successfully manage work and health. In the event where an employer takes adverse action against their employee on the basis of their mental health, the Fair Work Act 2009 protects employees with mental health problems..

  • When do you need an ABN?

    An Australian business number (ABN) is a unique 11-digit number that the Australian Business Register issues to all businesses, identifying your business to the community and government whilst also making it easier to keep track of business transactions for tax purposes. While it is compulsory for businesses with a GST turnover of $75,000 or more to have an ABN and to be registered for GST, businesses with a GST turnover of less than $75,000 can still apply for an ABN and may choose to register for GST. You are entitled to an ABN if you are aligned with the following entitlement criteria. Carrying on or starting an enterprise in Australia:An enterprise includes activities done in the form of a business, as well as acting as the trustee of a super fund, operating a charity and renting or leasing property. Features..

  • Salary sacrificing super

    Contributing extra to your superannuation is a good way to boost your retirement funds. One of the ways you can add more to your super is through salary sacrificing. Salary sacrifice is an arrangement with your employer to forego part of your salary or wages in return for your employer providing benefits of a similar value, meaning your employer will redirect some of your salary or wages into your super fund instead of to you. These salary sacrifice contributions are taxed at a maximum rate of 15%, which is generally less than your marginal tax rate. There is no limit to the amount you can salary sacrifice provided there are no limitations in your terms of employment or industrial law. However, this concessional tax treatment is limited to a certain amount of contributions made each income year. Contributions over the..

  • What is a CGT event?

    Capital Gains Tax (CGT) events occur when an individual or company makes a capital gain or capital loss by selling or disposing of an asset they own. The timing of a CGT event is quite important, as it determines which income year an individual will report the capital gain or capital loss, and may affect how their tax liability is calculated. When a CGT asset is disposed of, the CGT event usually takes place when a contract for disposal is entered into. When there is no contract, the CGT event happens when an individual is no longer the owner of the asset. Cases where a CGT asset is lost or destroyed, the CGT event will happen when the owner of the asset receives compensation for the loss or destruction. If no compensation is received, the CGT event takes place when..

  • Improving your FAQ page

    Including a Frequently Asked Questions (FAQ) page on a website can be a great time saver for businesses who deal with repeatedly asked questions from customers and clients. The best approach to optimise these pages correctly is to pay closer attention to the customer’s experience with the business and ensure the page is prominent on the website. Talk to customers about their questions:Before you write your page, you first need to find out what your customers actually want to know. For a business to understand and include the questions and answers customers want to see on a FAQ page, the business needs to ask its customers. To receive this information directly, a business can ask customers in-store, indirectly via an online survey or talk to those who work in the customer service side or business’s sales team. Identify keywords and..