56 minute read
COLUMNIST ARTICLES
ACCOUNTANT
By Warren Strybosch
Waiting
At Find Accountant, we provide SMSF tax advice. Our senior accountant is also an award-winning financial advisor. If you require SMSF advice or are considering whether or not to wind up your SMSF, then speak to Warren Strybosch at Find Accountant Pty Ltd.
Warren Strybosch
You can call them on 1300 88 38 30 or email info@findaccountant.com.au www.findaccountant.com.au
How To Make It Happen In Leadership – Whatever It Is!
RESILIENCE COACH
By Sally Higoe
“Today you are You, that’s truer than true. There is no one alive who is Your
than You” - Dr Seuss
As a leader, it seems now more important than ever to lead by example, to be true to yourself, to lead with authenticity, vulnerability and action.
Leading in such a way brings legitimacy and honesty to your relations with your followers, ensuring an ethical and valuebased foundation- a productive and creative workplace. In contrast, leading with uncertainty, perfection, lack of self-awareness, close-mindedness or falseness leads to a feeling of deception and lack of desire to serve, commit, be motivated or inspired. Even in this time of volatility, we must still show the will to grow, to succeed, to move forward, to lead... particularly if we want the trust, commitment and connection of our team.
The question is what if we don’t feel that way? What if we don’t feel capable of such leadership? I mean after all, we have an ego, a past, our own demons as well.
The answer is if you genuinely do not feel that you are a transparent, selfaware, fair-minded, moral leader... then it’s time to embrace your role, reset and strive for your best version of leader.
It’s important to continually hit the reset button as you grow into your ultimate leadership role. Holding on to things will hold you back. We all have our challenges and often they are held on to for too long – they become ‘our story’- when holding on to everything, it becomes really heavy. Giving ourselves permission to reset, to know that when you have a challenge, you can sit with it and then let it go... it’s vital and it’s something everyone can do. We can handle things better in small chunks and this is important to recognise as you move forward towards your goals and you continue to come across challenges. To reset is to make the conscious decision to, it does not have to be learned.
Leadership is a reflection of us, it is who we are, it is our ‘being’. A true leader embraces their role and allows it to be an extension of who they are at their core - whilst always striving for growth, for the desire to BE better. Some leaders feel that they need to HAVE more to be better – HAVE more support, more skill, more experience. This mindset can leave leaders perplexed as to why their employees don’t like them or trust them. By focusing on the HAVE, (something we are yet to obtain) we are always wanting, yearning, seeking, not happy or present with the NOW.. and this can actually stop you from achieving greatness. “When I have enough support... then I’ll bring in that new project”
When we focus on the BEING, who you need to BE, then you begin to think and behave as if. “Who do I need to BE, to ensure that project runs smoothly and I get maximum support”. You see, you then walk as if you are already that person in that role.
As you plan and commit to being the best leader you can, whether it be to reinvent or to enhance your current ability, following the idea to embrace who you need to BE, using the BE DO HAVE GIVE Model will ensure success.
The well-known BE DO HAVE principal refers to the attainment of success. As mentioned, it is where you first define who you want to BE, and then walk as if you are already that person in that role.
When we are clear on who we want to BE then we know what the first thing is that we need to DO in order to get the result that we are after (what we will HAVE).
The addition of the word GIVE is where the real fulfilment comes from... when we HAVE what we desire, we are able to more freely GIVE. When we GIVE, we instantly grow rich.
to have what I would like to HAVE (to achieve), so that I can DO what I would like in order to BE who I would like to BE.)
‘BE’, in this model, refers to who you need to authentically BE in order to make your goal happen. And this ‘beingness’ is something that we can all do RIGHT NOW. We can be anything we choose to be. What do I mean by that? I don’t mean I can go and be a professional swimmer right now. That simply won’t happen! What I’m talking about, is I can be the end result. When we say we want to BE something, it’s because we want to BE the end result – we want that feeling. We do things, we purchase items, we chase experiences because we want the feelings that it gives us... we want to BE that way.
To create your own version of success and determine who the best version of you will BE, we must look outside of what is ‘normal’. We need to look to the attributes that successful people demonstrate. What is it that they are doing differently, that is driving their success? This is called modeling. It is a form of learning through imitation. By observing someone else’s behaviour and choosing aspects that you aspire to and applying changes that match to your own behaviour, cognition or emotional state. Effective modeling comes down to viewing, reflecting and practice. When deciding on someone to model, consider what qualities you need to embrace and enhance within you to assist you moving forward.
The following two questions will give that starting point of knowing who you want to BE so you can begin doing what you need to DO and/or GIVE!
1. LIST 3 PEOPLE WHO YOU ADMIRE AND
CHOOSE TO MODEL, STATING WHY: (Hint: you can model different traits in different people eg one for business management, one for people skills, one for wealth etc)
2. BASED ON YOUR DECISION, WHAT ARE 3 THINGS YOU CAN STOP DOING RIGHT
NOW? (that do not suit/fit in with this new way of ‘BEING’) Moving forward to achieve your goals, work on telling yourself, daily “I am ............ (insert model/goal here)” and act ‘as-if’ until you get there. Remember when you wholeheartedly ‘try on’ the attributes that are needed to BE, then naturally, you’ll begin to DO something about it, to make it more real, more plausible, more YOU! Soon enough, you will HAVE what you are after and really be able to serve and GIVE back to your team.
Sally Higoe
Team/Leadership Coach Team Resilience Method 0490388017 sally@team-resilience.com.au
Leadership and Team Development
.....Imagine a team where each individual is so strong in self that their focus is how to move together as one....
SERVICES
LEADERSHIP COACHING & DEVELOPMENT
TEAM COACHING & DEVELOPMENT
BEHAVIOURAL PROFILING
BUSINESS GAP ANALYSIS
IN-HOUSE & ONLINE TRAINING
WORKSHOPS/WEBINARS Leadership coaching that connects your team and drives results
CONTACT
SALLY HIGOE
Resilience Coach Team Resilience Method
0490 388 017
sally@team-resilience.com.au www.theresaliantcemethod.com.au
Recent Changes To Casual Worker Entitlements
LAWYERS
By John Van Beveren
On 27 March 2021, changes to the Fair Work Act (“FW Act”) relating to casual employees came into effect. The amendments included a:
• definition of casual employment; • pathway for casual employees to become full-time or part-time (also known as permanent workers); and • Casual Employment Information
Statement that is required to be disturbed to every casual worker.
This finally provides clarity around what constitutes a casual employee. It also removes any ambiguity or any risk of the employee claiming they are a permanent employee and claiming the associated entitlements.
The new definition of casual employment
Under the FW Act, a person is a casual employee if:
• they are offered a job; and • the offer has no firm advance commitment that the work will continue indefinitely with an agreed pattern of work; and • they accept the offer knowing that there is no firm advance commitment.
For example, an employee is classified as a casual if - their roster changes each week to suit their employer’s needs and they can refuse or swap shifts.
What does “No Firm Commitment” mean?
There are 4 factors that determine whether an employer’s offer does not include a firm advance commitment. They are:
1. the employer can choose how many hours and what hours of work to offer the employee and it’s the employee’s choice to accept the work; 2. the employee will be offered hours of work when the business needs them to work; 3. the employment is described as casual; and 4. the employee is paid a casual loading (a higher pay rate for being a casual employee), or a specific pay rate for being a casual.
What happens to casual employees that were employed before 27 March 2021?
Casuals who were employed before 27 March 2021 will continue to be casual employees under the FW Act if the initial employment offer meets the new definition above.
What are casual employees’ entitlements?
Under the National Employment Standards (the NES), casual employees are entitled to:
• access a pathway to become a permanent employee (see below for more information) • 2 days unpaid carer’s leave and 2 days unpaid compassionate leave per occasion • 5 days unpaid family and domestic violence leave (in a 12-month period) • unpaid community service leave • Accrued paid long service leave if the employee worked more than 7 years • A “casual loading”, which is a higher pay rate for being a casual employee
Casual employees can request flexible working arrangements and take unpaid parental leave if they have been employed by their employer on a regular and systematic basis for at least 12 months.
Casuals are not paid for days off, notice of termination or redundancy pay, even if they work regularly for a long time. There is a Pilot Scheme currently being trialled by the Victorian Government that may come into effect in 2022 to allow casuals access to paid sick leave.
Pathways for casual employees to become full-time or part-time (permanent workers)
The new and updated changes to the NES now include an entitlement to allow casuals to become full-time or part-time workers through a “casual conversion”.
What is a “Casual conversion”
An employer has an obligation to offer a permanent employment contract to a casual if• They have been employed for 12 months; and • They worked a regular pattern of hours for the last 6 months on an ongoing basis; and • Their regular hours could continue as a permanent employee without significant changes. A casual employee can convert to fulltime or part-time employment at any time if the employer and employee both agree to the conversion.
The obligation to offer conversion also does not apply to small business employers who have less than 15 employees at the relevant time.
Most awards and enterprise agreements have a process for casual conversion. The Fair Work Commission is currently reviewing award clauses regarding casual conversion to make sure they are consistent with the updated NES.
Casual Employment Information Statement
Going forward, employers now need to give every new casual employee a Casual Employment Information Statement (CEIS) before or as soon as possible after they start their new job. Please see enclosed the CEIS that is required by law to be disturbed to all casual workers.
Small business employers need to give their existing casual employees a copy of the CEIS as soon as possible if you haven’t already. Please do not hesitate to contact us if you have any questions.
We can help
If you have any casual employees, now is the time to think about reviewing their casual employment contracts and establish a compliant, up to date system for casual conversion. Talk to our team at Van Beveren Lawyers if you have any questions about the reforms to casual employment and to ensure that your business is compliant with these new obligations.
Do you want to talk to a lawyer about property matters? Call JohnVan Beveren on 0429 312 986 for a free 15 minute call.
John Van Beveren
LAWYER Van Beveren Lawyers 0487 044 478 www.vanbeveren.com.au
10 Spring Maintenance Tips – knock your property into shape through Spring
PROPERTY SERVICES
By Daniel Tomlinson
I’m sure like me, you are all looking forward to seeing the sun a little more. COVID fatigue is well and truly set in, so why not make the most of your environment and prepare to get living outdoors even if it’s within your boundary during lockdown. Say goodbye to the winter blues, open the doors and windows and get outside.
Here are a few tips on things to consider through Spring.
1. Solar Cleaning
• The start of Spring is a great time to get your panels cleaned to make sure you get as much free energy as possible. Every cent counts
2. Window Cleaning
• The sun shine will just remind you how dirty the windows have gotten over Autumn and Winter. Let the light through and save on the heating bills where possible
3. Gutter/Drain Cleaning
• Strike now before the Spring rain hits and it’s too late.
4. Alfresco Dining
• Crack up the BBQ on your pressure cleaned paving or deck and wash winter away
5. Timber Care
• Re-oil those decks and fences to get them looking like new
6. Weed control
• The honeymoon period is over I’m afraid. First glimpses of new and fast growth. Be careful, if you blink you will be waist deep in weeds before you notice
7. Lawn
• If you’re not a lawn DIY’er then get your service provider sorted. All the lawn crews will be busy with potential waiting times before you know it. Book early to save disappointment • Laying instant turf or renovating your existing lawn. Spending a little time and money in Spring will pay off right through to next Winter. Lush green grass between your toes, nothing better • Utilise the Spring rain and save on your water bill • Top dress to level out the lumps and bumps in the lawn • Fertilise to get those dormant grass areas growing • Aerate the lawn to help drainage and establish deep routes
8. Mulch
• Get a fresh layer of mulch on the garden beds. This helps retain moisture in the soil and assists with suppressing weeds
9. Pruning and Planting
• Get a fresh layer of mulch on the garden beds. This helps retain moisture in the soil and assists with suppressing weeds
10. Odd Jobs
• Touch up painting • Repair fly screens • Make you’re your sprinkler system is running well • Clean the shed out and get it organised. You’re going to be in and out a lot • Get your aircon serviced • General repairs
Daniel Tomlinson
Property Services Pristine Outdoor Property Services
0468 485 122
How To Paint Your Home Without The Headache
PAINTING & DECORATING
By Steve Dahllof
It’s coming into spring, a season when repainting your home could be all that is needed to give it that sparkle, making it look new again.
Dreaming of how beautiful your home is going to look?
You may be fit enough to climb up ladders and stretch into those awkward corners, but have you considered just how close the paint will be to your face, and therefore the fumes of the paint that you’ll be breathing in? It’s not always the most pleasant experience! The smell hangs around for weeks afterwards and the toxins can continue to be released into the atmosphere for up to five years.
Traditional paints contain volatile organic compounds (VOC), carbon-containing solvents that helps the paint to dry easily and last longer. But they also can have adverse health effects, including headaches, nausea, dizziness, skin disorders and itchy eyes.
Looks good, smells great
Don’t despair! There are now many paints on the market that are VOC-free and ecofriendly.
Low VOC or VOC-free paints have been developed that dry quickly and also emit few odours. They have been proven to work on high traffic building areas such as health care centres, schools and government offices. Many mainstream brands now have at least one low-toxic or VOC-free paint range in their catalogue. Some lesserknown brands produce all-natural, toxicfree paints made from plant-based oils and waxes, mineral oils, clays, chalks, egg whites, vinegar, essential oils and other extracts from natural sources. They have minimal or no odour, and generally safe around those with allergies or respiratory conditions. As they don’t produce a plastic film like conventional paints, these paints allow walls to breathe, which helps prohibit the growth of mould in moist areas such as bathrooms. They’re not as hardy as synthetic paints, however, and will take longer to dry when applied to walls.
Read the labelling carefully on all ecofriendly paint cans – the base paint might be low in toxins, but the colourants used to tint the paint could contain high levels of chemicals. As a rule of thumb, the darker the colour, the more VOCs.
Eco-friendly painting tips
VOC-free paints are water-based, as opposed to the traditional oil-based ones, so your paint brushes can be rinsed out in a bucket of water and tipped onto the lawn. Even though the paint is ecofriendly, never wash your brushes into a drain.
Natural and plant-based paints are produced with little or no carbon emissions, and as the ingredients are biodegradable, you can compost the leftovers. Natural paints and plant-based paints can be stored for up to ten years if they are properly sealed so it’s a good idea to hold onto leftover paint for touch-ups. As with oil-based paints, if you need to dispose of paint or cans, contact your local council to find out about local collections or recycling stations.
The benefits of eco-friendly paint
The first benefit, of course, when you’re actually painting. Quality and pricing are now more in line with conventional paint and you’ll find eco paints for just about every interior application, from hardwearing, wipeable paints for the kitchen and bathroom, to paints suitable for timber, floors, walls and roofs. Low-VOC paints perform well: they dry quickly and are good at covering flaws on previous coats. You will notice immediately that there are no paint fumes, during or after, so you can occupy the rooms sooner. And after the paint job is finished, you will have a home that is healthier for all, especially for pets and people who suffer from allergies and have sensitive reactions to chemicals.
Most people would probably rate cleaning up afterwards as the most tedious part of painting a home. Ecofriendly paints are water-based and can be cleaned up with just simple soap and warm water! These paints are not counted as hazardous waste so disposal of cans is much easier. Ecofriendly paints are just what they say they are – friendly to the environment – as they reduce landfill, groundwater and ozone-depleting contaminants.
So, if you are planning to repaint your home this spring, why not choose an eco-friendly paint? You won’t regret it!
For all painting advice, contact Dahllof Painting Services at sjd67@bigpond.net. au. We will be happy to answer your painting inquiries.
Steve Dahllof
PAINTING AND DECORATING Dahllof Painting services 0407 365 372
Car Insurance
GENERAL INSURANCE
By Nicole Nelson
Car insurance is just one of the ways you can protect yourself from the unexpected. But before you sign on the dotted line, here’s what you should know about insuring your car.
The Terminology
These are the most common terms associated with car insurance. Here are some of the most important ones:
• Accident: An event that is unexpected or unforeseeable.
• Agreed value: The amount your car is covered for over the length of a policy – this is an amount that’s agreed on between both you and the insurer. However, some providers don’t offer this as an option.
• Claim: Any application you make to your insurer after an accident, so long as it’s covered under your policy.
• Comprehensive cover: Coverage for the cost of damage – either to you or caused by you – after an accident. You’ll probably still have to pay an excess, but at least your repairs will be covered whether you were at fault or someone else was.
• CTP: Compulsory third party (CTP) insurance is the minimum cover that every driver in Australia needs. It’s illegal to not have it. It covers you in the event someone is injured during an accident you’re responsible for.
• Excess: When you make a claim and you’re at fault, you usually have to pay an agreed excess before your claim can be processed.
• Premium: Your ongoing payment (either fortnightly, monthly or annually) to maintain your car insurance policy.
• Risk: The likelihood of you making a claim that the insurer will have to pay out on. This may be different betwen a number of providers.
• Write-off: When the cost of your car’s repairs are considered too expensive to be worth fixing. If you have comprehensive cover you could be paid out a specified amount or given a similar vehicle.
Read your PDS
We understand it might seem like a chore, but reading your product disclosure statement (PDS) is actually a good thing. It will help you understand exactly what you’re getting into, as well as what’s covered and what isn’t.
Under Australian law, your insurer must include all the terms and conditions of the policy in the PDS or a policy document included with the PDS. It also has to be written in plain English – so you shouldn’t need expert help to understand the nittygritty details.
Remember, though, that the PDS isn’t customised to your specific needs or your financial situation. Because of this, it’s recommended you read several PDS’s from various car insurers. That way you can make the most informed decision for your circumstances.
If you’re confused by anything in a PDS, simply call the broker and ask for more information. They will be happy to explain everything in more detail, so you can be confident you’re choosing the right policy for you.
Comprehensive or third party cover
You’ll find most car insurers offer three different levels of cover. But obviously the higher the coverage you want, the more you’ll pay in premiums. Here’s how they stack up:
• Comprehensive: The gold-standard of car insurance! It will cover the cost of damage to your vehicle and any others involved in an accident, as well as fire and theft cover.
• Third party property, fire and
theft: Covers any damage to other people’s vehicles if you’re responsible for the accident, but it doesn’t cover damage to your own car. However, you will be covered in the event your car is stolen, damaged by fire or is maliciously damaged.
• Third party property damage:
This is a step above the mandatory
CTP insurance, covering the cost of repairs to property damage you cause. It’s usually the most affordable option, but remember your own car damage won’t be covered if you’re at fault. There’s no one-size-fits-all approach to getting car insurance. In fact, as a broker we shop around to find the product that suits your current lifestyle and driving needs.
Not all car insurance products are created equal, and although most providers will offer comprehensive, third party property damage, and third party property, fire and theft policies, they may not have the same inclusions across the board.
That’s why it’s important get a variety of quotes from different providers – and of course to read the PDS!
A broker can break down complex policies into easy-to-digest info, covering everything from premiums to whether they will let you choose an agreed value or market value. Be aware that comparison sites generally do not compare all insurers in the market.
Life without a car could be a huge inconvenience – imagine trying to manage school drop off, grocery shopping and getting home late from work without a set of wheels! Having the right car insurance can help you get back on the road faster after an accident, and will give you financial peace of mind knowing that all or a portion of the repairs cost is covered.
Be confident that you’re properly covered in the event of an accident or stolen car. If you’re ready to find your ideal policy give us a call today.
This article provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, we do not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.
Nicole Nelson
GENERAL INSURANCE Belmont Insurance Centre
Who Are You Even Fighting For?
VIDEO CONSULTANT
By Zoë Wood
YES! Who are the people that you serve through your charity, business, or community group? I’m not asking their demographics; like age, location, hobbies, et cetera. I’m asking you who is the person you are serving with your knowledge and resources? Who is ultimately benefiting from what you spend your time doing and who are you helping with the marketing that you create?
That may be an overwhelming question to ask (#sorrynotsorry). However, it is the most crucial piece of knowledge to have when doing any outreach or marketing for your charity, business, or community group. This knowledge is the basis of all the videos I create for myself, my students, and my clients. Knowing intrinsically who you serve allows you to know why they follow you so you can do more of what your audience wants. So you know what they ultimately need to hear and understand from you and about what you can provide them. When, how, and where they actually want to hear from you, be that social media, email newsletters, letterbox drops, et cetera. Also, knowing what they absolutely love, or are totally disgusted by, will influence the direction of any action you take for your cause.
We all like to think we are pretty unique individuals and, in most cases, we are. However, when it comes to being able to clearly communicate a huge problem your audience is experiencing concisely back to them, while providing your solution, this golden nugget that is data is how major businesses and causes begin, grow, and prosper. What can I say? We like what we like. If you are not communicating with your audience, your fans, or your followers, you are missing out on being able to serve more people like them. You are leaving people behind that need what you provide.
How do you fix this, Zoë? You talk to them! You reach out via email, phone, social media. You run quick surveys, information nights, or town halls (pandemic permitting). You talk to them face to face (when safe to), over the internet, or via letter. You are never cut off from the people you help, you serve, and you ultimately care for.
If you don’t have an audience yet, this still applies. Start conversations with family, friends, and people in your community about what you are starting and the type of people you help. Then, from there, follow the bread crumbs! Humans like connection, if you tell people why you are doing what you are doing, they will know someone you can help, and go from there. Have conversations, build a following, a group, or a place for people to connect whether that be online or in person (pandemic permitting). You won’t know until you reach out.
See our upcoming video on what questions to ask your audience behind by searching Video Confidence Coach on YouTube, Instagram, Facebook, LinkedIn, or Twitter.
Zoë Wood
VIDEO CONSULTANT
WEB DEVELOPER
By Adam Sims
Waiting
Adam Sims
WEB DEVELOPER aWebpage
1300 667 141
5 Reasons To OUTSOURCE
Your Salary Packaging
SALARY PACKAGING SERVICES
By Dan Nicholls
My recent articles have explored why a business owner would offer salary packaging to their employees and then how they can engage with us, The Salary Packaging People, to achieve this. Now I’d like to point out WHY this is the best course of action.
You have to spend money to make money, right? If you’re an employer, you’re probably pretty sick of this adage. Running a business is nothing short of expensive and the costs are pretty relentless, especially when it comes to outsourcing suppliers. That’s why we’re here to tell you, that when you outsource salary packaging to a reputable provider, the benefits pay for themselves - and you won’t be receiving an invoice afterwards. Here are 5 reasons why outsourcing your salary packaging to us is the smartest non-investment you’ll ever make for your business.
1. Don’t Pay Anything
Just in case you didn’t get that, we’ll say it again. You don’t pay anything. Salary packaging allows your employees to access their pre-tax income and therefore, pay less tax on their takehome pay. This is not a service which you have to pay for. For every employee we arrange salary packaging, we deduct a minor administration fee that comes from them - not you. Better yet, there’s no extra stress put on your payroll department. Plus, when you use our services, you’re assured of complete taxation compliance that minimises any financial risk to you or your employees. that salary packaging encourages the three R’s - Recruit, Reward and Retain. By outsourcing to us, your staff are assured of helpful advice that can save them money as well as you being regarded as an employer of choice. An employer that rewards their employees is proven to have higher retention rates.
2. Enjoy Free Advice
The benefits of salary packaging are extensive and have multiple applications. It can be a complex topic to navigate, especially for uninitiated or ill-informed individuals. We live and breathe salary packaging, so we are only too happy to make sure our expertise is always accessible. It’s our job to ensure your employees can enjoy the feeling that comes with making more from their own money. We can help you determine the eligibility of each employee, run information sessions and speak to your staff members one-on-one to meet their needs. You and your staff are welcome to call us or contact us at any time to discuss the best way to make the most of salary packaging benefits.
3. Save Time and Money
If you manage your salary packaging benefits in-house, that’s more time spent by your payroll and/or finance departments and potentially the need to hire extra payroll staff - especially if you are a large organisation. Outsourcing negates the need for you to spend your own resources or dedicate a department to salary packaging. Best of all, because we know everything there is to know, we might even find ways to save you money. For example, did you know that you allowing your employees access to a novated lease car may reduce your payroll tax? We can show you how. We also stay completely up to date with the latest ATO benefits and exemptions to calculate the best outcomes for you and your employees.
4. Your Employees Will Thank You
They may not say it to you directly, but we all know employees show their appreciation in other ways. We believe
5. We’ll Even Do The Reporting
Depending on your financial status as an employer, you may need regular reporting to ensure compliance with all areas of FBT legislation. For over 30 years, we’ve helped employers ensure full Fringe Benefits Tax (FBT) compliance around salary packaging. We understand that charities and NFP organisations have legislative advantages for items that can be paid as a non-cash benefit and we ensure that the applicable limit per employee is never exceeded. Whatever your FBT status, rest assured that we will help you deliver a great program to your employees without exposure to any FBT risk.
There are multiple benefits for a business in outsourcing it’s salary packaging. We tailor our salary packaging services to each business and employee, so have a chat with us about which solution would be of most benefit to your business.
KEY TAKEAWAY
Contact us or call 03 5229 4200 or visit our new website at www. salarypackagingpeople.com.au
Dan Nicholls
SALARY PACKAGING SERVICES Salary Packaging People
Is Uncertainty Ruling Your Life?
When Uncertainty dominates Certainty in our lives, we can feel out of balance and overwhelmed! Find out how to get some certainty back!
LIFE COACH & COUNSELLOR
By Lou Lugsdin
Uncertainty can bring with it stress, being overwhelmed and the feeling of being out of balance. It can feel like we are living our life on a rollercoaster that never stops. When uncertainty dominates certainty, we often want to try and control people, and situations, to bring some order, familiarity, and stability back.
Two of our core human needs are the need for Certainty and the need for Uncertainty. Let’s investigate our 6 Core Needs, of which Certainty and Uncertainty belong too.
Our “6 Core Needs” is a personal development tool, originally created and taught by one of the world’s masters of personal development – Tony Robbins. The philosophy behind it is that we all, each one of us, has 6 Core Needs that we must meet in our lives. We will meet these needs either resourcefully (in a positive way) or un-resourcefully (in a negative way).
So, what are our 6 Core Needs?
1. Certainty – the need for comfort, security, safety, to be sure, organised, planned
2. Uncertainty – the need for variety, adventure, flexibility, spontaneity, chaos, change 3. Significance / Respect – the need to feel special, valued, appreciated, important, it’s all about self-esteem, self-worth
4. Love and Connection – this is all about our relationships with others and with our self, communication, interpersonal relationships
5. Contribution – giving back, contributing to others and society
6. Growth – growing as a person, as a team, as a workplace, making society a better place
How do these 6 Core Needs Impact our Lives?
A lot of people come to me saying that they feel stuck, unbalanced, have hit a fork in the road and they don’t know what to do next. People use the word balance or unbalanced frequently and refer to how they feel in life as either balanced or unbalanced. Feeling out of balance interrupts our natural flow and can leave us overwhelmed and exhausted.
To counteract the overwhelming feeling of uncertainty, we need to increase the amount of certainty we can experience.
How can we add some certainty? Why are the 6 Core Needs so Important?
• We all have them, and we are all trying to meet them every day. • We can reduce being overwhelmed if our needs are balanced and we have strategies in place to manage it. • We can stretch our comfort zones more effectively and confidently if we are not afraid to take on some uncertainty. • If we value others, show respect, and make others feel special, then our connections with people will more likely be quality interactions. • When our connections are resourceful, we should feel good about ourselves and have increased self-esteem.
The more we know about ourselves, the better our decision-making becomes. Understanding our 6 Core Needs is pertinent to creating and experiencing balance, happiness, and success!
Lou Lugsdin
- Set some daily or weekly routines that provide some certainty as to when some things are going to happen each day or each week. - Add in an activity such as a 20 to 40-minute walk 1-3 times per week.
Give these walks a day and a time on your schedule. - Plan your meals for the week. This gives you a sense of control over your meals and provides a food prep and shopping plan. - Incorporate some self-care into your week. For example, add in an online
Breathe Work or Yoga or Meditation class. This class will have a set day and time. This adds certainty. - Add in a ritual of daily Box Breathing exercises. Go to YouTube and find demonstrations of box breathing. - Think about what you can control and what you can’t control. Ask yourself, what is in my sphere of control and what is not? - Get some support. Work with a professional who is experienced at helping you to feel more balanced and less overwhelmed and stressed.
MyY Life Coach and Counsellor 0408370757 info@my-y.com.au www.my-y.com.au
Networking Working For You
Make Networking Work For You
BUSINESS COACH
By Deb Fribbins
Networking is crucial to our businesses today more than ever. Networking can be very effective if you plan your for the event before you attend. Whether in person or, on Zoom or Meet or any of the other mediums available to us today, plan which events are best for your business and what you want to achieve from the event.
There are five steps to effective networking
1. Be personally prepared 2. Choose the right event 3. Choose your target market 4. Be prepared for the people you want to meet 5. Follow up
Be prepared for the event. Have business cards or any promotional material you choose to use so your contacts remember who you are. Have a pen at the ready to write down any distinguishing points as a reminder on their card. Have a well-prepared elevator pitch to introduce yourself that will entice further conversation. Check out the event before you go. What type of clientele does it attract? Everyone is a potential client/ customer. The way you approach each will change depending on the outcome you are looking for. For example: If you are a business strategist the information a tradie who is looking at starting their own business is very different to that of a long standing corporate entity. Your support is equally valuable to both. The event may attract clients from all fields which are ones you are concentrating on at the moment?
The two key target markets are
• Clients or customers to work with IN your business • Support groups to expand your offer working ON your business.
Customers/clients are often our main target as we continue to work IN our business. Identify the clients who use your goods or service. What are their greatest needs and how can you support them so that they continue to come back, and refer you to their friends and family?
When we work ON our business, we build a stable of experts around us who can support us, to support our clients. We cannot be all things to all people. As the business strategist above a client may need the additional services of a web developer, an app developer, a marketing Guru, a PR specialist, support with additional staff through human resources, and so much more. Having a stable of experts who think like you, understand your mentoring methods and can work with you to support your clients is just as important as the clients themselves.
Prepare the right questions that will give you the answers you need to qualify them as either clients you can support, or appropriate to add to your stable. Asking 5 questions showing interest in them and what they do using the basic 5 W’s, Who, What, When, Where and most importantly their WHY they are in business.
Spend no more than 10 minutes with each of them before moving on. Make a time to see them in their office, your office or over a coffee as applicable to follow up. If they can’t do it on the spot or it is not appropriate with too many people around, follow them up the next day with a call to make that appointment.
PROPER PREPARATION PRIMES PROFITABLE PERFORMANCE
Deb Fribbins
Developing Excellence in Business 400 524 451 deb@debconsulting.com.au
Could you Leverage the Power of Your Super with an SMSF Property Loan?
FINANCE BROKER
By Allan Houliston
A Self-Managed Super Fund (SMSF) loan or limited recourse borrowing arrangement, as they are also known, are a great option if you are not able to buy an investment property outright. However, they are one of the most complex forms of finance in the current market and there are some very strict rules that you must adhere to that have been set out by the ATO.
Self-managed super fund property rules
• the sole purpose test - this means your fund needs to be maintained for the sole purpose of providing retirement benefits to your members, or to their dependents if a member dies before retirement.
• not be acquired from a related party of a member.
• not be lived in by a fund member or any fund members’ related parties • not be rented by a fund member or any fund members’ related parties. The main exception to this rule is when the fund purchases a commercial property and then leases the property back to the fund member. This is acceptable but the acquired property must be leased at the market rent.
For anyone that already has an SMSF set up or are thinking of moving from either a more traditional retail or industry fund, the first step is to obtain both financial and accounting/taxation advice. Several accountants have an Australian Financial Services Licence, which is required to give advice on self-managed superannuation funds. However, if you would prefer to deal with your regular accountant and they don’t hold an AFS licence, then you will also need to seek the advice of a financial adviser who does. They can then give both the advice in relation to the benefits of moving to an SMSF, ongoing advice concerning the property & lending and diversification of other investments within your fund. If property investment is in line with your overall retirement planning strategy, then you will also need to factor in the differences with purchasing an investment property through an SMSF when compared to a standard investment purchase outside of your super.
SMSF borrowing
Higher Costs - SMSF loans tend to attract both higher interest rates and set up fees than standard investment loans.
• Single Acquirable Asset – you can purchase land for investment purposes, but you can’t construct on it under a separate contract. You can however purchase a property under a single combined contract, such as properties that are purchased ‘off the plan’.
• Hard to Cancel - If your SMSF property loan documents and contract aren’t set up correctly, you can’t unwind the arrangement. You may have to sell the property, potentially causing substantial losses to the SMSF
• Cash Flow - loan repayments must come from your SMSF. Your fund must always have sufficient liquidity or cash flow to meet the loan repayments. This will be offset by the fact that your rental income will also be paid into your SMSF account.
So, there are a lot of facts to consider when looking at this strategy, but the main thing is to do your due diligence and to get the right advisers on board including a finance broker who specialises in this form of lending, which is not common due to the complexities of the arm’s length arrangement.
ALLAN HOULISTON
Finance Broker
Finance with a different accent...
Services
Residential
Investment Loans Commercial Loans Vehicle and Asset Loans Self-Managed Super Fund Lending
Contact
0405 140 003
Office address: 5/329 Pakington Street, Newtown, Vic, 3220
info@aislingfinancial.com.au
www.cruzingaragedoors.com.au
Four Attractive Doors And Gates Options For Commercial Premises
GARAGE DOORS
By Chantal Djuric
Your commercial premises need to be super safe, especially during this period of fluctuating lockdown cycles.
Here are four attractive door and gate options that you might not have thought of for securing your business workspace and assets.
Sliding gates
Sliding gates make an open, welcoming appearance to a property such as a car sales yard or gardening retail space. Here are four benefits that may persuade you to install boom gates at your commercial premises:
• improved security – as they can only be opened with a card or other security device, unwanted vehicles are prevented from entering. Boom gates can also monitor and record vehicle registration details of all who enter and leave. • control of traffic flow – where there are limited parking spaces and a lot of vehicles, boom gates allow full control over the amount of vehicles that can be on a property at any one time. • cost savings on security – with minimal operating and maintenance costs, boom gates also remove the need for a security guard. • saving space – boom gates require significantly less space than swinging and sliding gates and require only a small amount of vertical space to swing upwards.
Though boom gates are easy to install and maintain, we recommend that you call a garage door specialist to do the job.
High cycle panel lift door
High cycle panel lift doors are built for durability, speed and efficiency. They perform more quickly and reliably than traditional sectional doors, and are therefore especially suitable for transportation, distribution and manufacturing businesses, as they have faster opening and closing speeds.
There are several varieties of sliding gates on offer – face-welded radiatorstyle gates, aluminium slates, aluminium garden styles, Colorbond fencing and even laser-cut screens. They all come in a large range of up-to-date colours and sizes. They are typically made using 40 x 40 mm or 50 x 50 mm frames, with a design pattern to be specified.
Guideposts are positioned at the back of the gate on either side; one supports the gate when sliding, the other supports the gate when it is closed. Sliding gates operate on an aluminium track with 90 mm wheels insert in the bottom rail. As the gate sits a total of 40 mm above ground, this needs to be factored in when determining the overall height of the gate.
Sliding gates should always be installed by a garage door specialist.
Boom gates
Effective and affordable, boom gates are a popular option in carparks, shopping centres, hospitals and apartment complexes. Also perfect for gated industrial estates, these barriers can offer both privacy and security for business owners. An added bonus is that they are easy to clean and maintain. They also have an increased lifespan by eliminating the need for counterbalance springs. As if all that wasn’t enough, their rapid open-close cycles promote energy efficiency through reduction of heating and cooling.
High cycle doors are made with strong components and heavy-duty springs. Most models have a barrel and spring construction; that means there’s a barrel holding the rolling mechanism while the springs ease the tension from the door’s weight. This kind of roll-up door is made from sturdier materials compared to others, so the size of springs used on them is very important.
Regular repair and maintenance is essential for high cycle doors. We recommend servicing every three months to keep these doors in prime condition.
Mesh panel doors
Mesh panel doors have been designed for security and functionality. A strong and rigid aluminium frame surrounds the diamond mesh inserts for a door that is aesthetically pleasing in appearance yet will provide the user with many years of reliable service.
Suitable for use in residential and light commercial premises, an aluminium mesh roller panel door provides both security and ventilation of approximately 60%. They are ideally suited to carparking spaces in and under home units and commercial office buildings where security, reliability and ventilation issues are paramount, adding natural light and airflow to your garage. These doors can be operating at least a hundred times per day, so we highly recommend a routine service is done every three months to keep this door running its best at all times.
For 24/7 garage door servicing, give Cruzin Garage Doors a call on 0427 894 603 or email us at sales@ cruzingaragedoors.com.au.
Life Insurance
FINANCIAL PLANNER
By Mark Kruger
Having seen first-hand the effects of families being insured or not, I know for a fact that talking about insurance to my clients is one of the most valuable things I can offer them. When I entered the financial planning profession, I was confused as to why I had to learn so much about insurance. I had worked in valuations servicing some of the top ASX-listed companies, I had investment qualifications etc. Surely, I should be talking about assets, returns and complicated strategies! When I saw people in dire straits due a lack of cover after traumatic events, the truth hit home (and prompted me to get my own cover!).
The conundrum
You’ve insured your car, yes? Insured your home and contents? Your pet? Even your phone?
What about your life? It’s staggering how many people haven’t insured their family’s greatest asset – themselves!
The odds
What are the odds of your house burning down or being severely damaged? Probably pretty slim on a day-to-day basis. But what happens if it does burn down? Seriously, think about it. Where would that leave you and your family? The financial consequences alone are catastrophic, let alone emotional and logistical upheaval. So you insure for it, right? It costs relatively little in the scheme of things. But surely your family is worth more than that?
Do you need it?
What would happen to your family if you died? Could your partner cover the mortgage repayments without your salary? Car loan? Can they cover basic living expenses? Will they have to retrain? How long will that take? If they are at work, what about childcare? What about the increase in expenses when kids start school? For how many years? And what about the emotional toll – they may need a good amount of time to adjust to a new life. Are there assets to sell to assist with this? There may be super, but should that be left for your retirement? This is a non-exhaustive list of questions but will get you thinking in the right way.
How much does it cost?
The answers to the questions above may quickly get you to some pretty big figures – a few hundred thousand dollars to $1-2 million of cover is not uncommon. But don’t be alarmed by this. As per the home and contents example, the cost is relatively cheap for what you are insuring for. It’s impossible to give a price as premiums will vary according to your age, health, occupation and premium structure as well as the level of actual cover you need.
I have life insurance in super.
You may have life insurance in super. But is it enough? This is often called ‘group’ super and is a notional amount of super that increases with age to middle age and then declines. It is often not enough to meet people’s needs and how can it be? The super fund doesn’t know your situation. Further, group cover is not usually fully underwritten, so you may not know that you aren’t necessarily covered for pre-existing conditions.
Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.
Zig Ziglar
Your move
It’s a personal choice to have the peace of mind of being adequately insured for your family or not. However, the quote above makes it clear. Money just makes things easier, especially in tough times.
There are so many variables when it comes to Life insurance. It would be my pleasure to guide you through it and get you the setup that’s right for you.
This article provides general information only. It does not consider your objectives, financial situation or needs. You should consider seeking independent legal, financial, taxation or other advice to check how this information relates to your unique circumstances. MoneyRocket is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this article.
Mark Kruger
FINANCIAL PLANNER Money Rocket 0429 446 229
ACRONMYNS - PART 1
BOOKKEEPER
By Mary-Clare Switz
In our daily business lives we are bombarded with Acronyms. Some are commonly understood but others are a bit of a mystery. This month I have compiled a list of common acronyms that businesses see. The list got so big that I have broken it up in to 2 parts. Part 2 will be in the September issue.
ABN & ACN – Australian Business Number & Australian Company Number
The ACN is a 9 digit number issued to companies who are registered with ASIC and identifies the company. Sole Traders do not register with ASIC as a business so will not have an CAN. The ABN is an 11 digit number mainly used for tax purposes and is required if conducting a business (regardless if registered for GST or not). Companies’ ABN will be made up of their ACN with an additional 2 digits at the beginning.
ANZSIC – Australian and New Zealand Standard Industrial Classification
Every business has an ANZSIC code which defines the main purpose of the business. ANZSIC codes have been a huge topic of discussion since COVID started as state grants have used the ANZSIC code to deem eligibility for the grants.
Many businesses have found they have had to update their ANZSIC code to reflect the current purpose of their business to be eligible for grants. In these cases it is where the business started in one format and over the years has evolved into providing a different service or product.
ASIC – Australian Securities & Investments Commission
ASIC is Australia’s integrated corporate, markets, financial services and consumer credit regular and an independent Australian Government body. Companies registered with ASIC must pay an Annual Review fee each year. In your bookkeeping this is generally coded to “Filing Fees” or “ASIC Fees.” It is always excluded from the BAS (so neither GST or GST free). The current fee is $273. If a company is late in paying this fee the penalties are generous so it is highly recommended to ensure this is paid prior to the due date.
ABR – Australian Business Register
ABR stores business and organisation details. ABN’s are applied for and issued by the ABR. The ABR is responsible for the ANB Lookup website.
GST – Goods & Services Tax
Australia’s GST system of consumer taxation came into effect on 1 July 2000. It was designed to replace the federal wholesale sales tax system and phase out a number of State Government taxes. Unfortunately, not all of the state taxes were abolished such as Stamp Duty.
BAS – Business Activity Statement
Any business who is registered for GST will be familiar with the term BAS. BASes are commonly lodged quarterly but may also be lodged monthly or annually, depending on the business. On the BAS businesses report the GST they collected on Sales (1A on the form), the GST they paid on purchases (1B), Gross Wages (W1), PAYG withheld from employees’ wages (W2).
In addition, businesses may also report PAYG Instalments, FBT, FTC & WET ... see below for definitions of these.
IAS – Instalment Activity Statement
This has two main purposes. One is where a business reports wages and PAYG withholding on a monthly basis, but reports GST quarterly. On the quarterly BAS they will report only the last month of the quarter’s wages and PAYG. The other two months will report just wages & PAYG in between the quarterly BASes. Generally if your PAYG withholding is $25,000 or more your business will be expected to lodge monthly IASes (8 each year) along with the 4 quarterly BASes.
PAYG / PAYGW – Pay As You Go / Pay As You Go Withholding
PAYG (also referred to as PAYGW) is the tax withheld from employees’ wages.
PAYGI – Pay As You Go Instalments
This one catches a lot of businesses (including Sole Traders) out. When a tax return for a Business is lodged (Company or Sole Trader) and there is a tax liability for that year, the ATO deems that amount of tax liability is an estimate for the for the following year. The ATO then issues a notice to the business how much their PAYGI obligation will be and prefill the quarterly BASes with the estimate so that by then end of the current year’s income tax return is assessed the estimated tax with have been pre-paid. If the estimate is too much a refund will be issued. If the estimate was not enough a further payment will be required. Once the next business income tax return is lodged the estimate is recalculated. If the business had a loss and did not have a tax liability, the PAYGI will vary down to zero for the next year.
Once in the system, this is a good way to spread the load of paying the year’s income tax. However, new businesses need to be aware that in the first year of business no PAYGI can be deemed by the ATO as there is no history, so when the first income tax return is lodged, not only do they need to pay their income tax, but they also start pre-paying for the next year.
A PAYGI can be varied if there are substantial changes to a business’s income (such as during COVID). We strongly recommend businesses to talk to their Tax Agent if they are considering a variation.
FBT – Fringe Benefits Tax
This is a tax paid on Fringe Benefits paid to an employee, director of a company or a beneficiary of a trust who works in the business. Fuel tax credits provided businesses with a credit for the fuel tax. To claim fuel tax credits a business must be eligible including road transport.
WET – Wine Equalisation Tax
Businesses who make wine, import wine into Australia or see it wholesale will generally have to account for wine equalisation tax. It is designed to be paid on the last sale from wholesaler to retailer. This tax is for a very narrow segment of businesses, but I have mentioned it here as some businesses such as hospitality will receive invoices from suppliers show WET. Cafes and restaurants do not need to remit and cannot claim WET.
Mary-Clare Switz
Bookkeeper BISCUIT BUSINESS SERVICES
0448 887286 mc@biscuitbooks.com.au
MARY-CLEAR SWITZ
Bookkeeper
Biscuit Business Services
Helping your business keep track of your bickies!
OUR SERVICES
BAS Services
Bookkeeping & Payroll Services
Business Services
CONTACT
0422 800 012
mc@biscuitbooks.com.au
7A 9A-11 Leather Street, Breakwater VIC 3219
Biscuit Business Services provides professional, confidential and comprehensive bookkeeping, payroll, BAS and administrative solutions to small to medium businesses. We specialise in working with ‘in the cloud’ bookkeeping and document solutions to effectively keep your business up to date and on track. We believe in a strong team approach when working with our clients and their Tax Agents.
Why Clothing Is Important In Business
EMBROIDERY SPECIALIST
By Kerry Kaspi
Clothing has been found to have a greater effect on first impressions than Personality!!!
What? I never knew that??
But in early social interactions, clothing has a significant psychological influence on peoples’ perceptions of the wearer.
In a study both high school students and teachers were asked to rate pictures of female athletes, some were in uniform and others casual street clothes.
All the athletes were perceived as being more professional, having a higher ability and having more team spirit when viewed in a uniform.
DOES IT CREATE A PROFFESSIONAL MINDSET?
Well, this is not just jargon thrown at us by coaches; you really can dress for success.
Research into work attire and its effects on psychological state has discovered that formal workwear actually has a positive effect on alertness and focus.
When we put on an item of clothing it is common for the wearer to take the symbolic meaning of that outfit, for example putting on your party dress, this makes you feel in the mood for a party and can elevate your mood ready for the excitement ahead.
Same as weekend attire, this has a casual and relaxed vibe when being worn. Especially the trackies!
A uniform also says a lot of things about the company and is a walking advertisement for your business . An employee walking around in public brings exposure to the uniform. Firstly how and what is being worn is noticed, then your logo, lastly the wording. Within, all the information taken in a few seconds have passed and a perception is formed. So insist on shirts that are made to tuck in, being tucked in.
Your uniform also comes with brushed hair and clean shoes. So how do you get that mix right?
Decide on exactly why this uniform is needed? What job should it do?
Decide on where it will be worn, in the public eye, or in the boiler room.
Make considerations for OHS detail and safety regulations.
What image aligns with your branding?
UNIFORMS BECOMING MORE CASUAL
Uniforms are now becoming more casual, but all the above still holds true. Consider a working uniform if you get dirty and quoting attire when you are quoting, always professional for your industry standard.
This idea Makes sense if a perception is based on a few seconds of your appearance.
Will this fabric be comfortable, washable, non iron, warm, cold etc
By this time you should have an idea of your logo, choose colours that will compliment your uniform colour.
My view is to decide carefully, match colourway of logo to fabric choices, a clear logo without too much detail is much easier to recognise and remember.
Detailed and adding too much to a logo complicates the message, viewers are very likely not to acknowledge it.
So in closing I would like to give you a couple of uniform ideas that I think still possess a casual and professional look.
Kerry Kaspi
Branded Apparel & Marketing Geelong Industrial Monogramming 0412 670 310 Kerry@gim.net.au | www.gim.net.au
Craver or Foodie? Six Diet Types Revealed
(Australian Associated Press)
There is no one-size-fits-all approach to losing weight and people may shed more kilos in the long term by working with their “diet type”.
That’s the message from a new study which identified six major diet approaches among more than 245,000 Australian respondents.
The two most common types of dieters are “thinkers” and “battlers”, according to the report published by the CSIRO, Australia’s leading science agency, on Monday.
Making up 14.1 per cent of the study’s respondents, “thinkers” are goal-oriented, motivated and analytical.
But they’re also sensitive to negative feedback that can lead to stress or anxiety, which could ultimately derail their diet.
“Battlers” make up 12.8 per cent of respondents, who are likely find themselves regularly tempted by food and prone to stress and worry.
As a result, they need strategies to help break the cycle and achieve long-term success in their diet, according to the study.
The study’s lead author, CSIRO research scientist Dr Emily Brindal, said it was important for Australians trying to lose weight to learn more about their diet types.
“Too often diets are developed with a one-size-fits-all approach that ignores the fact that some people behave or think differently to others,” Dr Brindal said.
The four other common diet types identified are “cravers”, “pleasers”, “foodies” and “socialisers”.
“Cravers” have the highest body mass index, according to the study, and are likely to experience strong food cravings that may lead to overeating in “tricky” food-related settings. “Pleasers” are likeable and friendly people who could also be sensitive to social comparisons, which can make them feel like they are not doing well.
“Foodies” are passionate about all things food, including the experience of preparing and eating good quality meals.
The study found that “foodies” love variety and have the best diet quality of all six types.
Finally, “socialisers” are those who need flexibility to prevent diet restrictions from stifling social occasions or ‘killing the mood’ of an event.
“We are seeing people cope differently with COVID-19 stresses and uncertainty, which has included disruptions to health, fitness and social routines,” Dr Brindal said.
