Tackle your new year's resolutions like a pro
Ever look back on past New Year’s resolutions and notice they failed, not with a bang, but with a whimper? There was no dramatic quitting of that new class and no midnight burger binge. Instead, time just gets away from us. Other priorities come into our life. We just forget.
Get some wins on the board with effective business reporting
Too often businesses fall short of their goals because they don’t understand how to acquire and interpret data. Some cling to outdated reports that don’t reflect the contemporary market. Some get bogged down in so much information that it becomes meaningless. And others don’t report at all, preferring to rely on instinct, or just roll with the punches.
The truth is it’s never been easier to create sophisticated reports on many different aspects of your business. If you’re wanting to improve your business health, it may be time to change or elevate your metrics.
Keeping on the right side of SMSF rules
The lure of greater control over your retirement savings with a self-managed super fund may be enticing but the freedom to chart your own destiny also comes with the responsibility to comply with the rules.
An SMSF is a private super fund regulated by the Australian Taxation Office that you manage yourself. You can have up to four members in your fund, each of whom must be a trustee or, if a corporate trustee has been appointed, a director.
As a trustee you are legally responsible for all the decisions made about the fund and compliance. Even if you outsource both the administration and the investment of the fund to a professional, you must still understand what they are doing because you are legally responsible.
So what are the rules an SMSF needs to follow?
Make yourself accountable for your success
When it comes to career or life goals, a crucial element often missing from the discussion is that of personal accountability. Accountability is fundamental to effective government and successful business, but we often neglect it in regards to our own ambitions. Practicing personal accountability isn’t easy, but if you embrace it, the effect can be transformative.
Finding safe harbour when business is rough
Australia’s economy is growing at a slower pace than many would like, with small businesses in some sectors doing it tough. Recognising the warning signs of potential insolvency is key to trading through difficult times.
What you need to know if you have a side hustle
Whether it’s to pursue a passion or to make a little extra money, more Australians than ever now have a side hustle.
But while freelancing, moonlighting and pursuing passion projects can be a great way to add value to your life, they can sometimes complicate how you go about managing both your time and finances.
Postives and negatvies of gearing
Negatively gearing an investment property is viewed by many Australians as a tax effective way to get ahead.
How to keep ahead of the yield curve
US Interest rates have been making headlines in recent months, but do they really matter to Australian investors? The short answer is they do, a lot.
Changes in US interest rate settings have made a big impact on investment returns from bonds and shares over the past year, while uncertainty about the future direction of interest rates is also weighing heavily on markets.
Decoding real estate agent speak
First-home buyers (and even second- and third-home buyers) are often baffled by the jargon used by real estate industry professionals. This can result in expensive misunderstandings unless you take the time to learn the lingo.
Here are some frequently misunderstood terms and concepts you should familiarise yourself with before you begin searching for your dream home.
Tax and your website: What can you claim?
Most small businesses and independent contractors have a website these days. If you are planning to launch a new website or refreshing an existing one, it’s important to understand the tax implications. As with all things tax, it’s not always easy.