There will be a $1.6m cap on the amount of capital that a person can transfer into retirement products such as superannuation, pensions and annuities. The transfer balance cap applies from 1 July 2017 and applies to both existing and new pensions. The cap is an individual cap and applies on an individual-by-individual basis taking…
Government’s new super tax changes announced in May 2016 Budget now law. The new superannuation rules are effective from 1 July 2017 and as a result those funds with pension balances greater than $1.6m will pay a 15% tax on the investment earnings on the amount in excess of $1.6m. In addition there will be…
The Fair Work Commission (FWC) has moved to cut Sunday and public holiday penalty rates. The changes to penalty rates are not yet in force – see When will the changes take effect? Flagged back in 2014, the review into penalty rates was part of the FWC’s four yearly review of all Modern Awards. Hearings,…
The sharing economy is often held up as a big, bad threat to small business. But more are feeling positively about it than negatively. According to MYOB’s latest Business Monitor release, 75 per cent of businesses felt neither positively about the likes of Uber and Airbnb or negatively about them. However, more said it was…
Take a good hard look at your business today Is it exactly what you want it to be? If you are motivated you can make changes. But you have to be motivated. We would suggest that you focus on four key areas of business design. As you go through the list here are some quotes…
Franchising your business seems to be the way to the big bucks In Australia alone there are over 1,160 franchise systems. But ask any successful franchisor and they will tell you there is a heck of a lot of work to do before you make any money. In the early stages, it’s worth considering whether…
Contents What do Your Customers Really Think of You Business by Design Art Gallery Improves Profit with Focus on just Four Things Read the January 2017 edition here. Forward to a friend Know someone who might be interested in this newsletter? Why not forward this email to them. Disclaimer The contents of this newsletter is general…
Cash is king; there’s nothing more crippling to a business than having poor cash flow. Luckily there are tools available to help you out. The first step in fixing any cash flow issues you may have is to get a handle of how much money is going in and how much is going out. Generating…
‘Tis the season to be optimistic for Australian business owners, with one in six wanting to start another business. The insight comes from the latest MYOB SME Snapshot, which also found that just 10 percent of businesses were either ‘quite pessimistic’ or ‘very pessimistic’ about their prospects in the coming year. Overall, 64 percent of…
Consider it polygamy of sorts. If you want to stay in business long and prosper, you have to commit to your customers. It’s no longer enough just to satisfy them. The quality of a business’ revenue is as important as its quantity. Loyal customers represent quality revenue. Let’s take for example a small restaurant located…