Updates

Small businesses often find the cost of employing staff to be one of the main expenses in their business and are difficult to manage. Therefore, businesses should consider employing interns as to help to reduce their costs. While interns earn

A phrase many will be familiar with is “success breeds success.” This statement is not always true, but it has value.  Success can create a general feeling of positivity, which can lead to a general disposition of positivity both inside

For small business owners, retaining good employees continues to be a challenge. Below are some strategies to assist you in retaining invaluable employees: Recognise employees that are doing the “right things”. Small and simple gestures/incentives often means a lot and

In September 2011, a report was issued dealing with the concept of sustainability.  The report titled “SME’s set their sights on Sustainability” was authored by The Chartered Accountants of Canada, American Institute of CPA and Chartered Institute of Management Accountants

If you are looking for a good way to wrap up a business, you might consider the cost-effective measures that can come with deregistering a company. Upon deregistering a company, there are several tax issues to consider.  A paramount issue

When the Christmas season is upon us, party planning is in full swing and employers often consider gifts for staff and their families.  You want to make sure that all of your Christmas cheer does not leave you with Fringe

With the introduction of the new car fringe benefits legislation on 1 May 2011, it is worth revisiting the method chosen for calculating the car fringe benefits tax (FBT). Previously, if you used the statutory formula method for calculating FBT,

The Personal Services Income regime continues to be scrutinized and challenged by the Australian Taxation Office. One aspect of the PSI was recently challenged in the case of Park vs. Commission of Taxation (2011) AATA567.  In this case, an I.T.

Legislation was passed in 2007 to permit Self-Managed Super Funds (SMSFs) to borrow funds to make investments for the retirement of their member(s).  There were different types of investments that were allowed to be made, a few of which are

The Superannuation Guarantee Act of 1992 defines a person as an “employee” if they are an employee under Common Law. As a result, it has the effect of a contractor being deemed as employees for the purposes of Superannuation Liability.