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YouTube, how does it impact my Tax?

. Category: Small Business News.

Have you ever wanted to be like one of the many YouTube sensations that become seemingly rich over night? Just remember that any income you receive as a result of your success may be considered as income if the Australian Taxation Office (ATO) determines you are carrying on a business. While your posting of YouTube… Read more »

How Apps Can Improve your Business

. Category: Small Business News.

There has been an increase in Australian businesses using mobile apps to improve efficiency and productivity of their workplace. There are numerous ways that apps could be used to improve your business. Businesses that have a large amount of employees working in different locations or on the road may find that there are certain apps… Read more »

5 Ways to Create the Best Work Environment

. Category: Small Business News.

A major problem for many small business owners is having too much work and not enough time to complete it. Increasing productivity involves fine-tuning your time management skills, knowing where to place your focus and creating an environment best suited to your work life. Here are 5 ways to work smarter, not harder this new… Read more »

How to Keep your Business Sale Ready

. Category: Small Business News.

Are you thinking of selling your business? If you are, it is important to remember the importance of keeping your business sale ready in order to maximise your return. Some of the ways you can keep your business fit for sale include: Ensuring that your premises is presentable before going into the market. Ensuring that… Read more »

Board Minutes: What you Need to Know

. Category: Small Business News.

Are hard copies of board minutes required to be kept? Nowadays, with all the technological advances many are asking whether companies can keep records of minutes electronically (e.g. PDF version). According to section 251A(1) of the Corporations Act 2001 (‘the Act’), companies must keep minute books with records of: Proceedings and resolutions of meetings of… Read more »

Director Liability: Failing to Pay Super

. Category: Small Business News.

There is an increasing amount of employees, especially those closing in on retirement, looking to salary sacrifice part of their wages to superannuation. Usually this is done to not only increase their retirement funds, but to also take advantage of taxation concessions. Salary Sacrifice Have you ever wondered, what happens when an employer fails to… Read more »

Will an Effects Test protect Small Business’ and enhance the competitive process in Australia?

. Category: Small Business News.

Recently, there has been much debate surrounding the proposed changes to section 46 of the Competition and Consumer Act (the Act). This section aims to prohibit the misuse of market power. The recommended amendments were proposed as a result of significant criticism that the section had been ineffective. The Act Right Now Currently, section 46(1)… Read more »

Tips for running an effective overseas board meeting

. Category: Small Business News.

Some of the ways in which you can improve the running of an overseas board meeting include: Planning and preparing the agenda for the meeting like you would with any other meeting. Scheduling meetings well in advance, so that there is enough time for directors to plan for them. Not planning meetings immediately after a… Read more »

Beware of Wages Paid to Sales Staff

. Category: Small Business News.

The case of Fair Work Ombudsman v Longridge Pty Ltd involved the prosecution of a building company in South Australia for the underpayment of wages to its sales staff. The information you need to know: Facts Longridge Group was a construction company and employed its sales staff on a commission basis, with no hourly rate… Read more »