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The top 8 reasons why staff leave
Australia is facing a shortage of skilled labour. When the supply of staff dry up the focus often turns to retention. But the first step is to understand why people you want to stay, choose to move on?
When is the best time to refinance your home loan?
When is the best time to refinance your home loan? As a home owner with a mortgage, chances are you’ve heard of the term 'refinancing'. Refinancing involves reviewing your current mortgage, and potentially swapping your loan to another lender who can better meet your...
The unreachable Australian dream
Who thought house prices were going to fall due to the economic fallout from the COVID-19 pandemic? Our hand is up! Unfortunately for us, and for those wanting to enter the housing market for the first time, we were wrong. This article discusses the continued increase...
What happens when interest rates increase?
Since November 2020, borrowers have been indulging in record low interest rates, but what happens when rates start to rise, and mortgage repayments become unmanageable? This article discusses interest rates of the past and uses a case study to show the importance of...
Family Dynasties – The Thompson Family, From Blue Seas to Red Dust, a WA Treasure
When we consider family business dynasties, there’s probably few as quintessentially West Australian or as
diverse as the cray fishing Thompson family from the seaside town of Cervantes. Read more here …
Insight Brings Luxury Retreat Closer to Realisation of Dream
Insight’s support for Amaroo stretches from tax advice, to business strategies, and managing the company’s payroll.
Preventing a Tsunami of Insolvencies
The Government has stepped in to prevent a wave of insolvencies when the COVID-19 support measures run their course in December 2020.
Budget 2020-21: Road to Recovery?
The 2020-21 Federal Budget is a road to recovery paved with cash.
Key initiatives include:
• Personal income tax cuts from 1 July 2020
• A $4 billion ‘JobMaker’ Hiring Credit to encourage businesses to take on additional employees aged 16 to 35 years old
• $110 billion in infrastructure investment over 10 years
• Immediate deductions for business investment in capital assets
• Changes to how companies can manage losses
• Access to generous tax concessions for a wider range of businesses
Business Transition Specialists Critical to Family Office Success
Family companies are an Insight speciality and clients are often second and third generation family members who have taken over the reins of the family business.
Forecasting during a pandemic
Now, more than ever, business operators should have a plan in place to manage during uncertain times. Even if your business is not directly impacted, it’s likely your customers, your supply chain, and your workforce will be to some extent.
So, how do you plan for uncertainty when every assumption is subject to change?
Tax exemption for ‘granny flat’ arrangements
To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.
The New Lifetime Director IDs
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.
National licence recognition for tradies
uilders, electricians, plumbers, architects, real estate agents, security guards and other workers who hold an occupational licence in their home state or territory and who want to do the same work in another state or territory will soon be automatically deemed to have the necessary licence.
Tax treatment of JobKeeper payments handed back to ATO
The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government. The clarification comes after the Super Retail Group, Dominos Pizza and Toyota collectively returned more than $20 million in JobKeeper payments after reporting exceptional trading results.
JobMaker fails to boost employment
The Government’s JobMaker scheme has created 609 new jobs since registrations opened on 1 February 2021, despite around 15,000 businesses registering their interest in the scheme.
Professional services firm profits under fire
The Australian Taxation Office (ATO) has been concerned for some time about how many professional services firms are structured – specifically, professional practices such as lawyers, architects, medical practices, engineers, architects etc., operating through trusts, companies and partnerships of discretionary trusts and how the profits from these practices are being taxed.
Fringe Benefits Tax year: 2020-2021
Is your business at risk of a nasty Fringe Benefits Tax surprise? We’ve outlined the ATO’s ‘red flags’ for employers and employees.
The 1 July 2021 superannuation changes
Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.
Amendments to Casual Employment
The Senate has passed a section of the upcoming Industrial Relations Bill, relating to Casual employment. These changes alter some key principles around casual employment and will have an impact on small businesses that employ casual employees.
The Pandemic Productivity Gap
A recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and others stating, “Some have remained remarkably productive during the Covid-era, capitalizing on the latest technology to collaborate effectively and efficiently. Most, however, are less productive now than they were 12 months ago. The key difference between the best and the rest is how successful they were at managing the scarce time, talent, and energy of their workforces before Covid-19.”
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