Time for a little crystal ball gazing and take a look at what 2013 holds. FOR BUSINESS No age limit for super contributions From 1 July 2013, the upper age limit for superannuation contributions will be abolished. Employers will be required to contribute to the complying super funds of eligible mature age employees aged 70 […]
In December 2011 the Federal Government announced a consultation regarding amendments to the Taxation Administration Regulations 1976 (Cth) (Regulations) to require businesses in the building and construction industry to report payments made to building and construction contractors to the Australian Taxation Office (ATO). This amendment to the current reporting regime is the result of a […]
Retirement Village or Aged Care ? Many people are confused about the difference between retirement village living and an aged care facility. Retirement Villages are legally defined and regulated under relevant state legislation Anyone over 55 can buy into a retirement village lifestyle if they have the financial means to do so. Whereas accessing most […]
Did you know? Approximately 45% of people over age 70 will use aged care services Accommodation bonds in regional areas and capital cities are now $300,000.00 All too often we procrastinate over financial decisions and panic when the event occurs. Unfortunately this procrastination can limit the financial planning opportunities. This is an all too common […]
Each year the Pink ribbon Bowling Challenge is held at Tweed Ten Pin. Organised by Professionals Real Estate Coolangatta & Banora Point, the annual event raises money for breast cancer. This year, two Oculus teams competed against twelve other local businesses, to claim the “Booby Prize”. The Oculus, “Gun team”, lead by Jenny Dallinger took […]
If you thought reaching an agreement on price was difficult, wait until you get to the fine details of buying or selling a business. So you’ve reached an agreement on price. But, there are differences between the parties on how the sale price should be apportioned across different assets. A solution that’s sometimes proposed is […]
Workplace productivity is essential in ensuring that your business works at optimum level, but despite its integral role in the workplace, the task of increasing productivity is often a time-consuming and frustrating job. The benefits of enhancing workplace productivity are numerous and do not just advantage managers, but everyone within the company. Not only is […]
Each year the ATO identifies several industries where employers have a higher risk of not complying with their super obligations. In 2012, the ATO will focus on the following high-risk industries: cafes and restaurants real estate services carpentry services. Typical mistakes that have been identified by the ATO include: paying insufficient super contributions missing the […]
The 2012 Federal Budget revealed tougher laws for superannuation from the start of next financial year, 1 July 2012. For over 50’s with an income of $300,000 or over, super will now be taxed at 30 per cent, rather than the current rate of 15 per cent. The proposed concessional contributors cap for those over […]
How do you know if your business is in strife? Insolvency specialists will tell you that business failures don’t show for months if not years after an economic downturn as business owners struggle to hang on. A business can go broke for many reasons but one consistent factor is the owner’s fail to recognise the […]
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