Being picky applies to your other great asset as well, your employees You have an obligation to be picky about whom you hire – an obligation to your company, your customers and your other team members. Membership should be seen as a privilege. Not only does it inspire hard work but it fosters greater retention.…
It’s no coincidence that principled leadership inspires employee and customer loyalty. Leaders with a sense of responsibility and commitment to treating people well are far more likely to attract and retain the best and brightest employees. They will also command the respect of their employees who will see it as their own responsibility and exciting…
It’s an age-old saying – practise what you preach Fast-forward to today and you could change that to practice it and do it at Internet speed. But it would be dangerous to let action be the only focus. It might seem touchy-feely or even frivolous, but every company has to have core values. The founders…
The government recently released the second tranche of proposed superannuation changes covering the pension transfer balance cap, concessional contribution changes, catch-up concessional contributions and the removal of the earnings tax exemption for transition to retirement pensions. We provide the following information on the issues surrounding the pension balance transfer cap. What is the pension transfer balance…
Are you SuperStream compliant? If you employ people in your business, all superannuation payments must be made in accordance with the ATO’s new electronic data and payments system, SuperStream. Medium and large employers (20 or more employees) are required to be SuperStream compliant by 31 October 2015, but for small employers (19 or fewer employees)…
Money you earn from renting out a room in your house is rental income, according to the Australian Tax Office (ATO). This applies to rooms rented by traditional means or through a sharing economy website or app. You can only claim expenses related to the part of the house you rent out and you need…
Estimate the likely depreciation deductions for your investment property Mitchell Partners’ new Tax Depreciation Calculator helps you to estimate the likely depreciation deductions claimable for all types of property including residential, commercial and manufacturing buildings. Click here to start using our Tax Depreciation Calculator now. Talk to us Want to order or find out more about…
Consider this fundamental point in business; whenever a customer makes a purchase, they take a risk that the product or service will work. When you think about it logically, the fact that they’re taking a risk must hamper the decision-making process. In a lot of cases, it must put off the decision. The product or…
Ever heard the expression “time is money”? Well, it’s never more true than when it comes to making changes to your business. While change is not something that most people embrace quickly or open-heartedly, if it’s done too cautiously it can flatten revenues, eat profits and lead to business failure. This is particularly true for…
As business owners, we all work hard to get the most profit from our business. So why would you take a stab in the dark at the true cost of producing a product or service? Using the accounting approach of job costing is a great way to provide transparency to particular jobs or projects in…