Mistakes happen all the time, and although they can be embarrassing, you can recover from them. Whether the mistake was minor or costly, handling the error with professionalism can save your dignity and credibility. Next time you forget to hit send on that important email, rest assured you can recover quickly by adopting the following…
The ATO is reminding self-managed super funds (SMSFs) of the rules regarding non-arm’s length income from trusts. The non-arm’s length income rules can apply to investments, transactions and other arrangements undertaken by SMSFs when the terms of the relevant investment, transaction or arrangement are uncommercial in nature. If income is distributed from a discretionary to…
The Australian Tax Office (ATO) is warning taxpayers to be aware of scammers impersonating the Tax Office and demanding cryptocurrency such as Bitcoin as payment for fake tax debts. The ATO became aware of these fraudsters late last year with over $50,000 paid in Bitcoin to scammers claiming fake ATO debts. Once scammers receive payment,…
Most people, at some stage or another, will need to save money. Whether it is for a large purchase such as a house deposit or money for a rainy day, similar savings principles apply. Consider the following tips to boost your savings account: Automate your savings One of the easiest ways to get into a…
Business owners should always be on the lookout for ways to improve their business. It can be easy to fall into a trap of complacency, especially when business is doing well but having strategies in place can ensure your business continues to remain successful. Consider the following tips to improve your business: Stay current Keeping…