Importance of record keeping for businesses

Importance of record-keeping for businesses

For businesses operating in a fast-paced and dynamic environment, the task of keeping records can fall secondary to everyday business operations. However, failing to efficiently keep up-to-date and comprehensive records can hurt your business’s long term operations. Probably the most important reason behind sound record-keeping is that it allows you to learn and grow from…

What do tax audits involve

What do tax audits involve?

Tax audits are conducted when the ATO deems that a more extensive examination of an issue is necessary. These audits can be conducted on a fairly basic level or they can be much more in-depth and analytical. In most cases, there will be a review which then leads to an audit, but this isn’t always…

Responding to conflict in the workplace

Responding to conflict in the workplace

Handling conflict in the workplace is a sensitive issue which needs to be dealt with carefully.  The following are practical strategies to respond to conflict that may arise: Focus on behaviour and events as opposed to personalities. Rather than generalising a behaviour, discuss what went wrong in a specific situation. Listen to what both parties…

Life insurance through your super

Life insurance through your super

Over 70% of Australians have life insurance through their super fund. This acts as a financial safety net through your super if something unexpected happens.  There are 3 main types of life insurance that super funds usually provide:   Life cover: Also known as death cover, this type of insurance pays a lump sum or income…

Conditions to accessing your super

Conditions to accessing your super

You may find that accessing your super is the best way to meet your financial needs in a given situation, for example in the early stages of the pandemic. Individuals are able to legally access the funds in their super earlier but there are conditions of release.  Common conditions of lease: Reaching your preservation age…

Sustainable practices for your business

Sustainable practices for your business

Adopting sustainable practices for your business is a great way to contribute positively to the environment. These changes won’t significantly impact business operations, but will effectively reduce the carbon footprint of your business. Office location: This is relevant if you are moving to a new location or are newly starting your business. Choose a location…