The social side of SEO

Social media is having an increasingly important impact on a business’s search ranking.

A businesses social media presence, as well as the quality of the content they develop, plays an important role in how visible they are in search results.

SEO strategies used to rely heavily on link building; however this will no longer be enough.  Marketing success will be unattainable without highly shareable content

When a business’s content is posted and shared on social media it sends social signals such as likes, tweets, pins or shares. These social signals are the factors that can determine a business’s rank in a search result.

Businesses should be creating content that is worth sharing. The best social content is the kind that gets followers and fans talking. It is unique, valuable information that leave its audience wanting more.

Social influence will not occur overnight; it will take time and effort to build up a strong and loyal following. If businesses wish to maximise their social media capital, then they need to remember that social media is community based. It is important to be social and actually participate within the platform.

Tips to speed up tax refunds

Many problems can occur when processing activity statements and tax returns which can lead to a delay in issuing refunds. However often these problems are often caused by small issues and can be easily avoided.

Here is a list of tips to help minimise some of the issues that can prevent a speedy tax refund:

-Keep personal details, such as postal address, bank details and authorised contacts, updated

-Lodge all outstanding activity statements, the ATO are unable to process the refund until they know the extent of the credit

-Keep the statement clean. This involves not writing notes outside the space provided, do not use symbols and do not double up by lodging both online and in person

SuperStream changes for SMSF

Self managed super fund (SMSF) trustees should be aware of the changes to the way they receive super contributions.

From 3 November 2014, employers will begin using the new Data and Payment Standard, also known as SuperStream, to make superannuation contributions to their employees.  This means that SMSF trustees will be required to receive contributions electronically from their employers.

Employers will have a year to make this change so SMSF trustees should check with their employers about their start date.

To assist their employers, SMSF trustees will need to obtain an electronic service address for the delivery of contribution messages.  SMSF will also need to provide their employer with their ABN, bank account details and electronic service address to their employer.

The changes will result in a more timely and reliable flow of contributions and make it easier for employers. Funds do not need to upgrade their reporting software to comply with the changes.

The Data and Payment Standard

From 3 November 2014, employers with 20 or more employees will begin using the new Data and Payment Standard, also known as SuperStream, to make superannuation contributions to their employees.

The Data and Payment Standard will streamline the process for many employers when making contributions. It provides a simpler, consistent method of preparing contributions. In most cases, it will provide a single channel for interacting with multiple super funds.

Employers will make super contributions electronically. The contribution data is sent electronically in message format to the fund and the contribution payment is sent electronically through the banking system.

It will also reduce payment processing costs as the manual methods have been removed. Super funds and its members will also benefit from processing contributions faster and improved data quality.

The ultimate goal is to lead to better retirement outcomes for all Australians including:

-reduced administration costs

-higher lifetime savings

-fewer lost accounts

The data message and payment will be linked by a payment reference number which will enable reconciliation at the receiving fund.

Most of the key components required for this change, including e-commerce infrastructure and software solutions, are currently being developed, trialled and implemented.

Focus on wealthy Australians

The ATO has received additional Government funding to continue their focus on improving the voluntary compliance of wealthy Australians until 30 June 2017.

The ATO began focusing on wealthy Australians in 2009-10 with the ultimate goal of influencing all wealthy Australians to pay their fair share of tax. The ATO hoped to do this by changing attitudes and behaviours associated with tax manipulation, avoidance and schemes.

Wealthy Australians are defined as Australian residents who control net assets of between $5 million and $30 million.

The ATO’s strategy to influence wealthy Australians includes:

-gaining a greater and more detailed understanding of wealthy Australian’s

-treating systematic tax risk

-heightening ATO visibility in the community through education

The ATO has undertaken direct enforcement action, including comprehensive reviews and audits, as well as engaging with individuals through letter and phone campaigns.

The ATO has also recognised that many people who fall into the category of ‘wealthy Australian’ are asset rich but cash poor. This has led the ATO to work on managing disputed, collectable and insolvent debt.

As a result of their compliance activities, the ATO have exceeded liability targets.

SuperStream changes for SMSF

Self managed super fund (SMSF) trustees should be aware of the changes to the way they receive super contributions.

From 1 July 2014, employers begin using the new Data and Payment Standard, also known as SuperStream, to make superannuation contributions to their employees.  This means that SMSF trustees will be required to receive contributions electronically from their employers.

Employers will have a year to make this change so SMSF trustees should check with their employers about their start date.

To assist their employers, SMSF trustees will need to obtain an electronic service address for the delivery of contribution messages.  SMSF will also need to provide their employer with their ABN, bank account details and electronic service address to their employer by 31 May 2014.

The changes will result in a more timely and reliable flow of contributions and make it easier for employers. Funds do not need to upgrade their reporting software to comply with the changes.

Difficult conversations in the workplace

It is understandable why employers often avoid having difficult conversations with their employees as it can be an awkward and time consuming process.

The following are some potential legal risks that can arise from avoiding difficult conversations in the workplace:

Anti-bullying claims

New anti-bullying laws came into power on 1 January 2014 which have given workers experiencing bullying a new sphere of protection.

Raising underperformance or misconduct issues with employees at an early stage can help to reduce the chances of accusations of workplace bullying.

Unfair dismissal claims

A key element of procedural fairness is warning an employee about their unsatisfactory workplace performance and giving them a genuine opportunity to respond. Skipping this step may be found to be unfair by the Fair Work Commission.

Also, in the case of a genuine redundancy, an employer must be able to show that it has met any obligations it had under a modern award or enterprise agreement.

Adverse action claims

Having a conversation with an employee about their underperformance or misconduct can help the employee understand the reasons for decisions that may adversely affect them.

This will reduce the risk that employees are likely to suspect and argue that the decision was made for a prohibited reason, such as on a discriminatory ground.

2014 lodgement changes

From 1 April 2014 taxpayers will be required to provide their financial institution account (FIA) details when lodging fringe benefit tax returns.

From 1 July 2014 taxpayers will be doing the same for tax return lodgements, even if the details have been provided before.

These requirements were first put in place for individual tax return lodgements and took effect on 1 July 2013.

Providing FIA details will allow the ATO to issue any resulting refund by electronic funds transfer to the FIA that is nominated.

Electronic funds transfer is the fastest and most secure way for taxpayers to receive their refund. It is convenient for both the ATO and the taxpayer and it ensures the refund is paid directly into a nominated bank, credit union or building society account. Alternatively, taxpayers can speak with their tax agent about using their trust account, if they operate one.

It is important that taxpayers ensure their FIA details are correct when lodging as this will help to prevent delays in receiving their refund, and also ensures that their money does not go into the wrong account.

6 things every great boss should do

The fundamental values of good leadership and management will never change.

Great bosses are those who consistently inspire employees to perform well, which plays a major role in the long-term success of the business.

Here are 6 things that every boss should be doing in the workplace:

1. Acknowledge

Publicly recognising productive employee for their contributions shows how much their efforts are appreciated. This will also encourage outstanding and sustained performances.

2. Motivate

Set high standards for communication, productivity and professionalism throughout the business.

Enlist the help of the employees to identify blocking issues, focus attention on possible solutions, and strive to meet and exceed expectations.

3. Communicate

Communicate clearly, professionally, and often. Employees expect their manager to give an honest assessment of their performance, as well as constructive criticism when they are not performing to the expected standard.

4. Trust

Bosses who believe employees are capable and responsible encourage autonomy, whilst also creating a strong sense of community throughout the organisation.

To establish trust, bosses should create a safe, positive working environment with open, honest, two-way communication.

5. Develop

Bosses should ensure they set their employees up for success, not failure. Provide them with the tools and training they need to reach their full potential and to meet and exceed the standards set by the business.

Encourage them to identify their strengths and what motivates them.

6. Direct

Ensure that employees feel challenged with their job, but not overwhelmed. Delegate tasks appropriately and look for opportunities to maximise each employee’s strengths.

Penalty for unpaid super

Employers who are not meeting their super obligations may lose the tax deduction they would normally receive for super contributions. They will also have to pay a superannuation guarantee charge to the ATO.

From 1 July 2013 employers must be paying 9.25 percent of each eligible employee’s ordinary time earnings each quarter in super. From 1 July 2014 this will increase to 9.5 per cent.

The next quarterly cut-off for super contributions is the 28 April, which applies to the period of 1 January to 31 March.

If employers have not met their super obligations they will need to lodge a Superannuation guarantee charge statement with the ATO and also pay a superannuation guarantee charge.

Also, their business may lose the tax deduction that they would normally receive for superannuation contributions. This is because like most late payments the super guarantee charge is not tax deductible.

Employers will have to pay the super guarantee charge if:

-they do not pay enough super contributions to their employee. This is known as a super guarantee shortfall.

-they do not pay super contributions by the quarterly cut-off date for payment. The next payment cut-off date

-they do not pay super to their employee’s chosen super fund; this is called a choice liability.

The super guarantee charge is made up of the super guarantee shortfall amounts, nominal interest at 10 per cent per annum, and an administration fee of $20 per employee, per quarter