CALL US: (07) 3367 0999 | EMAIL US:

2017 Business Resolutions

The start of the New Year is generally a time to reflect on the previous year’s achievements and challenges and work towards setting new goals.

The New Year can offer business owners a powerful motivation for business growth. Whether you want to expand your business or increase your network; goal-setting plays a critical role in achieving success.

Here are three business resolutions to consider for 2017:

Network, network, network
Consider joining a professional networking group or new business organisation to meet like-minded individuals in your industry. A large networking circle can help you access new business opportunities, expand your knowledge within a field and raise your professional profile. Participating in networking activities and events often leads to more connections, which can help generate referrals and word-of-mouth marketing.

Create a productive work space
The physical characteristics of a work space can have an enormous impact on productivity, health and safety, and comfort. A well-planned office space can assist employees to carry out their daily task effectively.

Elements such as lighting, colour, layout and noise all contribute to a positive and productive work environment. Ideal work environments are exposed to a significant amount of natural light, are free from clutter and control noise. Ergonomics also plays a significant role in productivity. Office furniture can be the cause of physical pain such as migraines, stiff necks and back pain, so be sure to provide comfortable seating.

Focus on relationships
Building and maintaining relationships is a solid part of running a business. Minor problems with suppliers, customers, staff or community members can quickly unfold if they are not addressed in the right manner. Commit to improving your communication style by demonstrating assertiveness, providing constructive criticism and ultimately, being open and honest in all of your interactions.

Business
advice

taxation
planning

compliance
services

News

Reviewing your super

July 19, 2018

The ATO is encouraging taxpayers to review their super this tax time.

Finding lost super or consolidating any unwanted multiple accounts can make a massive difference to your nest egg.

There is over $18 billion in lost and unclaimed super. Those who have changed their name, address, job or lived overseas are at high risk of having lost super.

During the last five years, more than $10.7 billion of super has been consolidated from over 2.1 million accounts through ATO online services.

The ATO is also reminding taxpayers that the new super deduction is available. Most people under 75 years of age can claim a tax deduction for personal after-tax super contributions.

Personal super contributions deductions provide a level of flexibility for young people that change jobs frequently, self-employed contractors, small business employees, freelancers and people whose employers do not offer salary sacrifice arrangements.

To claim a deduction for any personal super contributions made in 2017/18, you must lodge a notice of intent to claim a deduction with your fund and receive a confirmation letter from them before lodging your tax return.