Employer Superannuation Fund Compliance To Benefit Tax Deductions Employers are entitled to a tax deduction for contributions made to a complying superannuation fund or a retirement savings account (RSA) for the purpose of providing superannuation benefits for their employees. The contributions are only deductible for the year in which they are made. To maximise the…
ASIC Advises Businesses to Be Wary of Default Funds with Inducements The Australian Securities and Investments Commission (ASIC) has updated its guide to help employers select a default superannuation fund for their employees. The guide sets out a range of factors for employers to consider when deciding on a default super fund for employees (eg. fees,…
Receiving Income Stream from Your Self-Managed Superannuation Fund (SMSF) Generally, a self-managed superannuation fund (SMSF) can only pay a member’s superannuation benefits when the member reaches their “preservation age” and meets one of the conditions of release, such as retirement. The payment may be an income stream (pension) or a lump sum, depending on the…
Being Aware of Employee Theft The following article topic is not one that people like to talk about, however, we have seen a few clients come across this issue and thought it was timely to discuss this topic. If you have concerns or suspicions, we encourage you to contact us for any assistance with a discrete…
Making Your Bill Collecting Less Difficult Like it or not, some customers always lag in their payments. It hurts your company’s cash flow and causes frustration for both your accounts receivable personnel and the customers. Tips on Effective Bill Collection But you can get your receivables in better shape and keep them there if you put your…
An Employsure Update on Penalty Rates Read an update below from Employsure on how the reduction to Sunday and Public Holiday penalty rates may affect you. Employsure also provides free general workplace advice for Advivo clients, contact us now to receive your reference number. Change is coming, however, you do not need to act…
Why Price Setting is Important in Business It’s a matter of balance. You went into business to make money and the concept of chalking up profits is fairly simple: Your company has to take in more than it spends. Top Tip: Reserve Discounts for Your Best Customers Maintain a sensible discounting policy. You want…
Build a Road to Enhanced Profits It can be a hard choice to make, but successful companies often have to make the strategic decision to “fix it or exit.” In other words, any part of the business that doesn’t earn its keep must either be repaired or let go. Many businesses tend to avoid taking the time…
How to Improve Your Chances of Getting a Loan People in general often think that bankers only want to lend money when we don’t need it. And that is understandable because lenders want to minimise their risks. However, you can increase the odds of obtaining financing when you actually need it by gaining a clearer understanding…
Keeping Your Business Healthy Through Efficient Cash Flow Management A major concern for many businesses is maintaining a healthy cash flow. It is the heartbeat of business and keeping it stable requires juggling most aspects of your operation, including accounts receivables, payroll, credit, and inventory. When your business is squeezed by a tight economy — and tight…
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