March 2015 Issue 102

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...

I referred in my last column to the challenges facing the NFP Sector regarding uncertainty of funding and the ensuing implications. This issue continues to be of great concern for the sector and following on from the briefing held by AICD in late February, here are some more tips for organisations facing this predicament. While many of the tips listed...

Traditionally, there have only been two methods by which start-up businesses could raise the funds for their project. Business owners will be familiar with "debt" and "equity" - either take out a loan, or sell a share of your business. In this sphere, the internet is threatening to disturb the status quo. Here it takes the form of "crowdfunding", which...

The cost of litigation is often the most important non-legal issue parties want to know about when deciding whether to take a matter to Court. Litigation is more expensive and usually takes longer than resolving a matter out of Court. While the majority of matters in the family law jurisdiction resolve by agreement, and most family lawyers work towards achieving...

Mail is tangible, reliable and versatile. Although the general thinking in many circles seems to be that direct mail is an antiquated and expensive form of marketing, there is mounting evidence of an increasing respect for the humble letter, brochure or catalogue received in the home or office letter box. People who use email regularly have become savvy at blocking...

Certification trade marks are marks that indicate a certain good or service meets a particular standard. The certification mark might indicate features like: * The quality of the goods; * The type of material the goods are made from; * The geographic origin of the goods; * The purpose of a particular good or service. Usually certification trade marks are...

Superannuation investment has come a long way over the years and traditional managed funds are not the only way to gain an exposure to the market. A cost effective alternative is to use Exchange Traded Funds or ETFs. So what is an ETF? Exchange Traded Funds (ETFs) are one of the fastest growing investment products in the world, offering investors...

Would you cut your base salary to potentially earn more in a performance-related bonus? Australians are more risk averse than our New Zealand neighbours when it comes to our salary package, with a new survey by recruiting experts Hays showing that 59 per cent of Aussies would take a base salary cut for the opportunity to potentially earn more through...

It's hard to believe we are already into March 2015. As the end of financial year approaches, now is the time to get your strategy in order. Property takes time to transact - so allow plenty. 1. Taxation and selling your investment property. Speak with your accountant to understand the taxation implications of buying or selling property. Timing possible implications...

Recent budget cuts across the Australian Public Service have lead to a significant number of public servants being presented with the opportunity to take a voluntary redundancy. While this is an easy decision for some employees, for many it is not always that simple. Individuals who are in their final years of employment - with a full understanding of their...

Gone are the days when you could simply rely on advertisement campaigns alone to generate sales. The sales process has become much more complex now and your website plays a critical role in it. In the old times, you would come up with a package deal, run a TV, radio or print ad and generate traffic to the website and...

The election on 19 February 2014 of Mr Glenn Keys, as Chair of the Canberra Business Chamber Board, was another important step in the successful coming together of two well-known and respected business organisations - Canberra Business Council and the ACT and Region Chamber of Commerce and Industry - to form Canberra Business Chamber, a single strong voice for business...

In the first sitting week of the ACT Legislative Assembly for 2015, I announced the government's next reform- the introduction of a Local Industry Advocate to make sure that local businesses get a fair go in government procurement of goods, services and capital works. Part of the Local Industry Advocate's role will be to work with government directorates to ensure...