Small Business News
Is your business eligible for the Fresh Ideas for Work and Family Grant?
Recently the Australian Government launched the Fresh Ideas for Work and Family Grants Program. This grant is designed to help Australian small businesses implement practices that support employees balancing work and family commitments. It is hoped that this will improve employee retention and productivity.
Are you ready for the upturn? - small business news from Balance at Work
A recognised early effect of improved economic conditions is a significant increase in the mobility of employees. Usually, highly skilled employees who are confident in their employability will jump first. This has implications for employers in two main areas, retention and recruitment.
You have skilled and experienced staff who are an asset to your business. Don’t give them any reason to start looking elsewhere!
SEO Explained
In the previous issue we explored Google’s popular Pay Per Click (PPC) Advertising Tool Adwords. In brief Adwords allows advertisers to secure a high listing on Google and charges them each time someone clicks on their listing. As an alternative to a PPC campaign, website owners can implement a Search Engine Optimisation (SEO) strategy to achieve a high listing in the organic section of the search page, that is that section of the page that is not paid advertising. Now whilst it doesn’t cost website owners each time someone clicks on an organic listing, significant costs can occur if you pay for experts or consultants to administer this campaign for you.
Director Penalty Notices – What are they and what do you need to do?
All companies that have employees must withhold income tax when they pay their employees, this is known as PAYG. That withheld tax becomes an automatic debt that is owed to the ATO by the company and if the company fails to pass it on before the due date the directors of the company become personally liable for the entire debt.
Changes to Employment Law and NES - know your rights and responsibilities
The Fair Work Act 2009 sets out 10 minimum conditions of employment. These National Employment Standards (NES) were effective as of 1 January 2010 and will replace the existing Australian Fair Pay and Conditions Standard. Together with modern awards, the NES will constitute the government’s new employment safety net.
Business Interruption Insurance - its underated importance
Why you should prepare for the unexpected.
Australia is home to many natural disasters. The devastating Victorian bushfires and Queensland floods shocked the nation as people struggled to imagine themselves having lost not only their homes but their livelihoods. Many business owners were ruined as the tragedies eradicated the hope of ever rebuilding the business, not solely due to physical destruction but to inadequate business interruption insurance policies.
Intellectual Property - Protect the legacy of your business
Whilst insurance and succession planning play major roles in securing the future of your business, protecting your intellectual property can often be just as important, yet is something that is regularly overlooked.
So, what exactly is intellectual property and why does it need protecting? The term intellectual property refers to patents, trademarks and designs. And this covers everything from logos, pictures, words and phrases, to ideas, creations, products and innovations.
Have You Taken Advantage of The Business Tax Break?
By now, most business owners would have at least heard about the small business tax break, however many of those owners may not have taken advantage of this incentive. The deadline is drawing near but it’s not too late to capitalise. Here is what you need to know to do so.
Winding up Your Business for Better or Worse- The role of liquidators
Winding up a business requires the liquidation of all that business’ assets. The reason for winding up a business could either be that the company is insolvent (can’t pay all of its debts) or its members want to end the company’s existence.
How do you wind up a business?
Liquidation is the only way to fully wind up (end) the operations of the company whilst breaking down the company’s structure, undertaking appropriate investigations and paying all of its debts. Having an independent party undertake the liquidation process protects creditors’, directors’ and members’ interests.
If your company is insolvent it will either be wound up by its members and creditors voluntarily or involuntarily as a court order (court liquidation) because the business has not been able to pay one or more creditors, and the period of non-payment has been longer than the legal time allowed.
Even though a company may have a large number of assets it can still be deemed to be insolvent because the directors are unable to liquidate these assets quickly (e.g. a building/land).
Keep the tax man away from your Christmas party!
Christmas is slowly creeping up on us and most of the annual party preparations are underway. Not only will business owners be preparing Christmas Parties, they will be considering what gifts, if any, they will provide to clients and employees. However, an important issue to consider is the possible Fringe Benefits and income taxes that may be applicable when providing ‘entertainment’ to staff and clients.
