-
Understanding employment contracts
Posted on September 7th, 2011 No commentsA recent decision in the New South Wales Court of Appeal is a reminder for businesses throughout the country to ensure that bonus provisions in contracts of employment properly reflect the intent of both parties.
- It may now be considered breach of contract to not set performance criteria and not assess employee performance, when a contract states that you will do so.
- Making a bonus
-
Changes to unfair dismissal
Posted on September 7th, 2011 No commentsOn 1 January 2011, the definition of what constitutes a small business changed. Businesses must now have fifteen or less employees – including full time, part time and regular casual employees – to be considered a small business.
Companies no longer regarded as ’small business’ will not be able to rely on the small business unfair dismissal exemption. this means that employees will now qualify for such coverage after six months of employment, as opposed to the previous twelve.
-
Carbon tax and your business
Posted on September 7th, 2011 No commentsThe Federal Government
-
Support for women in small to medium businesses
Posted on September 7th, 2011 No commentsThe Minister for the Status of Women, Kate Ellis and the Minister for Small Business, Nick Sherry have announced that the Australian Government will contribute $20,000 to a project promoting greater participation of women in Australian trade and business.
With more than 700,000 female business operators in Australia, businesswomen make a powerful contribution to the Australian economy.
The Australian Women
-
Aussie customers lost to overseas stores
Posted on September 7th, 2011 No commentsBig businesses like Myer and David Jones are considering new ways of attracting customers after The Commonwealth Bank released information showing a massive turn in the way Australians are doing their shopping.
It is estimated that last year, Australians spent $9.5 billion on online shopping sites, $4.2 billion of this on overseas sites. The ease and widespread access of the internet, coupled with a growing trust for online retailers, is seeing shoppers take advantage of the high Australian dollar and reap bargins from overseas stores.
While slashing prices hasn
-
Tax deductible expenses
Posted on September 7th, 2011 No commentsNot all purchases made by a business will be tax deductible. Those that are must be related to the earning of income, but even then there are some exceptions.
Some costs have a private component, such as motor vehicle expenses, that must be apportioned between business and private use. Other costs may be totally related to a business, such as the registering of a patent or trademark, but are classed as a capital and therefore not tax deductible.
Some examples of expenses that could be claimed however, include employee salaries and super contributions, advertising, rent or leases, bank fees, interest on loans, freight and insurance, repairs, promotions and giveaways, depreciation of assests and the costs of a registered tax agent.
For more information on what expenses are tax deductible for your business and what records you should be keeping for these, please feel free to contact our office.
-
GST fraudsters caught out
Posted on September 7th, 2011 No commentsGoods and service tax (GST) fraudsters are more than likely than ever to be caught out this year, as the ATO plans to increase its audits on GST refund claims by small businesses and investigate cases of serious evasion. As a result of government funding, an extra 11,500 cases will be completed in the 2011-12 financial year. Last year, 28 people were prosecuted for more than $17 million worth of GST-related fraud offences.
-
Super contributions due
Posted on September 7th, 2011 No commentsThis tax year the ATO will be targeting employers who fail to pay super for contract workers. Many employers fail to realise that some contractors are considered employees under super guarantee law.
If employers fail to pay their super obligations, they will have to lodge a Super Guarantee Charge Statement. This will pay the super guarantee charge to the ATO.
Employers should seek advice in order to determine whether their contractors are eligible for super contributions.
-
Do you have to pay the Flood Levy?
Posted on September 7th, 2011 No commentsAs of 1 July 2011, the government
- 03 9863 7120
- 03 9863 7130
- info@maybizsolutions.com.au
