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Working with online influencers

Influencer marketing may seem like a “buzz” term; however, the movement is providing more businesses with online opportunities to expand their customer base.

Online influencers are generally prominent individuals within an industry with large social media followings, i.e bloggers and celebrities. Small businesses can work with online influencers to promote their products and services.

One of the primary reasons businesses may choose to start a working relationship with an influencer is customer acquisition. As online influencers have a large active and engaged following, their exposure to potential target markets is expansive. Influencers tend to have a loyal social following and their followers are generally interested and trust their content.

For businesses who do choose to go down the road of influencer marketing, it is important to establish some base rules with the influencer. For instance, many social users expect influencers such as bloggers to disclose when a social post is an advertisement/paid post for a business. Creating a transparent environment is key to savouring relationships with loyal followers.

It is usually good practice to draft content for the influencer to ensure your business is portrayed in the correct manner. However, this does not mean the influencer has no creativity in the message rather it helps to make sure they understand your goals and stay on track.

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News

SMSFs: beware of illegal early super release

July 13, 2018

The Australian Tax Office (ATO) is reminding self-managed super fund (SMSF) trustees to beware of allowing members to access their super early.

A self-managed super fund (SMSF) trustee must meet a condition of release before any funds can legally be released.

The ATO can issue severe penalties if you or a SMSF member access your super before you are legally entitled to do so.

Some consequences of getting caught up in an illegal super scheme include the disqualification of trustees, imposition of administrative penalties, the fund being made non-complying and prosecution.

The Tax Office encourages those members who have been involved in an illegal super scheme to contact them immediately. The ATO will review your voluntary disclosure and take your circumstances into account when determining any penalties.