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Chatbots as a business growth strategy

Looking for a competitive advantage that will help continue to grow your business? Look no further than chatbots.

When used effectively, chatbots provide a number of advantages that can help boost your business. Chatbots are invaluable when it comes to customer service. They allow you to publish content directly to your audience. For customers, communicating (with a well designed) bot is practical; it is fast and it removes the process of calling up and sitting on hold. Chatbots are ideal for sharing links to new content and new products as well.

Using chatbots provides businesses with data. Analytics such as purchase tracking, page clicks and navigational trends are all available through chatbots. Once this data is analysed, improvements and adjustments can be introduced to make the audience experience more enjoyable and more meaningful; optimising the opportunity for success in your business.

Instant messaging is taking over. Recent trends show that messenger apps are becoming more and more popular, with retention rates higher than that of other mobile apps. To improve customer experience and conversion rates, your company should not avoid this opportunity.

Integrating chatbots into your business is extremely resourceful. It helps improve sales, draw in new customers, strengthen existing customer relationships, deal with complaints, orders and so forth without needing human intervention. In-house communication between employees such as sharing resources they need to access, new training information, solving IT problems etc. can all be improved through the use of chatbots as well.

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News

Tax on super death benefits for dependants vs non-dependants

July 9, 2020

A super death benefit is the super paid after a person’s death, usually to a nominated beneficiary. These benefits are subject to different tax treatments, depending on whether the beneficiaries are dependant or non-dependant.

Superannuation death benefits will generally be received tax-free by tax dependants, who are considered to be:

Dependants will not have to pay tax on the tax-free component of their super in the event that they:

However, they will be taxed at their marginal rate if they receive a capped benefit income stream and:

Not all super death benefits are subject to tax; for non-dependants, there is a taxable portion. This component is largely made up of after-tax super contributions that the deceased member has made.

Super death benefit payments are subject to tax when:

Non-dependants must calculate how much money in the super account is a:

The amount of tax non-dependants pay will be based on their marginal tax rate, however, this amount may be reduced by tax offsets. For the taxed element of the taxable component, the effective tax rate is your marginal tax rate of 17% (whichever is lower). For the untaxed element of the taxable component, the effective tax rate is 32% or your marginal tax rate (whichever is lower).