According to the ASFA Retirement Standard June 2013 quarter, below is the annual budget needed by Australians to fund a comfortable standard of living in their retirement years.
Businesses only has a couple of weeks left to buy and install assets worth up to $6,500 to take advantage of the instant asset write-off provisions to be stricken from the tax law from January 1 2014.
Capital Gains Tax (CGT) can be a very complex issue especially for someone who is not familiar with tax law. CGT is a tax paid on any capital gain that is made in a given financial year. This can include the sale of a property, shares or managed fund investments. It forms part of your income tax liability.
Unless you measure business performance, there is no way of telling whether your business requires attention. In order to improve profitability against your goals and benchmarks, you need to measure it against past results. This is done by measuring the current position, setting the target and measuring the process of the target.
When it comes to running your own business, it’s important to have plans and procedures in place so when the inevitable does happen and you fall sick your business will be able to function as required. As a small business owner, you don’t have the luxury of calling in sick. With constant deadlines looming over your head and trying to manage client expectations it can become all too much if you haven’t been proactive in planning for things beyond your control.
As the 2013 year draws to a close, many small businesses are planning and looking forward to the festive season and end of year celebrations with colleagues. Without trying to dampen the good mood this time of year brings, it is worth mentioning that the money you spend on a Christmas party is often not a tax-deductible expense, both for GST and income tax purposes.
The thought of organising your finances can be a daunting task but once you are on track the benefits are endless. Everyone wants to be smarter with their money, and you can too by following these helpful tips.
A contract is a legally binding agreement between two or more persons. It is critical for the person signing the contract to take time and ensure you fully understand the terms and conditions outlined in the contract.
A trust must have the following key elements:
• It must have a trust property;
• It must have a trustee that holds the legal title to that trust property; and
• It must have beneficiaries for whom the trustee is to manage and apply the trust property.
Email marketing is often seen as a thing of the past, and with social media being all the rage, it’s easy to overlook email marketing for your business. Email marketing can be a great way to connect with clients and customers. It is cost effective and can even drive more sales than social media. So, what are the benefits of email marketing?