Uncategorized
TED Talks: Adam Grant – Are you a giver or a taker?
In every workplace, there are three basic kinds of people: givers, takers and matchers. Organisational psychologist Adam Grant breaks down these personalities and offers simple strategies to promote a culture of generosity and keep self-serving employees from taking more than their share.
Read MoreSubstantiation for mobile, home phone and internet costs
The ATO has issued guidance on making claims for mobile phone use as well as home phone and internet expenses, and says that if you use any of these for work purposes you should be able to claim a deduction if there are records to support claims.
Read MoreUnderstanding your super and pension statements
Confused by what all the facts and figures mean on your super or pension statements? Don’t despair – here’s how to translate them.
Read MoreTax deductions specifically for SMSFs
One overarching fundamental that SMSF trustees should ideally keep in mind is the sole purpose test – that is, every decision made and action taken is required to be seen as being undertaken for the sole purpose of providing retirement benefits for the fund’s members.
Read MoreWinning gold in retirement savings
Our Olympian contingent arrived back from from Rio with a collective 29 medals, eight of them gold, securing Australia 10th place overall. But our Olympic champions take extra comfort knowing that they are back in a country where self managed superannuation funds are consistently taking 1st place and standing on the highest podium to take the gold medal for best performance.
Read MoreTED Talks: James Veitch – The agony of trying to unsubscribe
It happens to all of us – you unsubscribe from an unwanted marketing email, and a few days later another message from the same company pops up in your inbox.
Comedian James Veitch turned this frustration into whimsy when a local supermarket refused to take no for an answer. Hijinks ensued.
Read MoreThe process (and pros and cons) of “electing” to be a family trust
Trusts are an important and very useful concept for managing one’s financial affairs, as well as estate planning.
Read MoreShare dividend income and franking credits
Mum and dad investors in receipt of dividends from their share portfolio often benefit from investing in blue chip shares because they usually have franking credits attached.
Read More$20,000 write off is only available for small business, unless…
There is an under-used gem hidden within the small business simplified depreciation rules that in some circumstances can widen the opportunity to access this valuable deduction.
Read MoreGeneral facts about winding up your business
There are times where business owners, whether voluntarily or involuntarily, may need to wind up their business.
It is generally less complicated to wind up the business of a sole trader (who has declared “bankruptcy”) than to wind up a business run through other structures.
For companies, the terms typically used would be to “go into administration” or “liquidation”
A sole trader is less complicated to wind up because the principal of the business is also personally responsible for all debts and liabilities accrued by that business.
Read More