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Employee share schemes
April 2015 Issue 103
One of the best ways of attracting and retaining high-quality staff is to provide them with an ownership share of the business they're helping to develop. It creates an obvious incentive for them to throw their faculties behind a common cause in the hope of sharing its future success and reward. For technology start-ups with limited resources in particular, it...
The company registered office – more than an anachronism
April 2015 Issue 103
"What's the address of the Company's registered office?", I asked a company director. His response, perhaps predictably, was to recite the trading address of his company's business. A repeat enquiry yielded no change. I asked if he knew the difference between the two: it was clear he did not. A company's registered office is more than just an anachronism of...
SMSF: DIY or Supported?
April 2015 Issue 103
Self Managed Superannuation Fund (SMSF). The title infers work and with leisure time so hard to come by these days it's not uncommon to be wary of anything "self managed". When considering the responsibilities that are required to be an SMSF trustee, many people worry about the reporting obligations,financial statements, tax return and the audit involved. These are important but...
How to get the most out of your auditor
Accounting
What are the key factors for choosing an auditor for your business? Reliable information is the basic prerequisite for confidence in the value of an organisation; for investors, the public and the organisation itself. A conscientious independent audit of an organisation's financial report provides the basis for this confidence. HOW TO CHOOSE THE RIGHT AUDIT PARTNER Choose the right team...
Access Canberra has business talking
April 2015 Issue 103
Access Canberra, a new one stop shop streamlining access to permits, licenses and approvals, will play a pivotal role in accelerating economic growth in the Territory and encouraging business innovation. An online discussion initiated by Chris Bourke, Member for Ginninderra, found that while business owners are generally in favour of the proposal, there are concerns that front line staff will...
Off-the-rack suits are made for dummies
April 2015 Issue 103
Kumar Advani, the visionary tailor behind Advani Custom Tailors, says off-the-rack suits might look good on mannequins, but when it comes to feeling professional and powerful in the business arena nothing beats a hand-measured, custom-made suit. Based in Canberra since 1983, Kumar has been making impeccably crafted suits and shirts for the Canberra community for over 30 years. Learning from...
Canberra can learn from Wellington experience
April 2015 Issue 103
I recently visited the New Zealand city of Wellington which was labelled by popular travel publication Lonely Planet as the 'coolest little capital in the world'. I don't think my hosts were surprised to hear this title is something I'd like to take from them for our cool capital. There are many similarities between the two cities. Wellington has a...
More than ‘black letter’ law: solving problems in the real world
April 2015 Issue 103
Craig Painter, senior associate at Snedden Hall & Gallop, is not your average lawyer. He followed an unusually long path to becoming a lawyer, which saw him in two previous careers, gaining real-world experience. Born and raised in Bowral, Craig left school in year 10 and completed an apprenticeship as a fitter and machinist. "My father said 'you'd better get...
Missing Persons – Job boards fail to connect with top Talent!
April 2015 Issue 103
Through the slow demise of newspaper job advertising, job boards such as SEEK have been the main tool for connecting employers and jobseekers. Despite a rapidly evolving market and a host of new technology and tools, many employers continue to stick to the 'wanted poster' approach to attracting talent. They write a job spec, hoist up an internet advertisement and...
‘Safe, smooth and quiet, time and time again’
April 2015 Issue 103
WR Engineering has been building garage doors and providing innovative home improvement solutions to Canberra homes and businesses since 1967. WR is a long-standing, trusted local business with uncompromising quality, continuous improvement and technology at the heart of its operations. For WR, being Canberra's B&D Accredited Dealer makes them the 'go to' team for leading builders and professionals. B &D...
Intestacy rules can cause heartache
April 2015 Issue 103
Dying without a Will can lead to unexpected results, especially for the family of a person who has recently gone through family law proceedings. Media reports recently shared the story of a young man who died unexpectedly at the age of 30. He had previously had a short marriage in which he and his wife had purchased a block of...
Global Connections: Local advisor brings worldwide expertise to the Canberra market
April 2015 Issue 103
Ged Stenhouse, Partner, Assurance and Advisory at RSM Bird Cameron in Canberra, has achieved a lot since joining the firm nearly a decade ago. Since Ged joined RSM Bird Cameron in 2006, the Assurance and Advisory division has grown from 10 to a team of 25. Ged was the National Training Partner for the firm, and has now been appointed...
Hatch Property
March 2015 Issue 102
Julie, tell us a bit about your background and your business, HATCH Property. I began in real estate in early 2001 in shopping center management and then as a buyer's agent, specifically for investors sourcing quality investment opportunities in Canberra and interstate. I worked in both residential and commercial property in the areas of property management, sales and leasing. Over...
Superstitions – from lucky numbers to unlucky days
Banking
You might not think finding the right property has much to do with luck, but around the world, there are countless superstitions people believe that could influence their decision to buy a property. From numerology to rainy days, here are a few interesting beliefs regarding property from around the world. * CHINA - The number eight is a sign of...
‘Do you want fries with that?’ Considering the value of upsold services
Business Advisory
We all recall and cringe at the famous fast food chain mantra 'do you want fries with that?' The frustration often conjured by the notion of 'up-selling' belies the real problem - one of perception. A feeling that you're being sold something that you don't want or need,or is of little or no intrinsic value, is uncomfortable. This is no...
Avoiding the usual GST errors
Accounting
It is common for businesses to make GST errors in their BAS. The majority of these mistakes are unintentional. The ATO recently reviewed all of the BAS adjustments made as a result of auditing and revealed that over 80% were the result of inadvertent GST mistakes. Examples of common mistakes include: clerical errors such as duplications or accidental omissions, sales...
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