CAN YOU STOP EX-EMPLOYEES STEALING YOUR BUSINESS?
Yes and no. The employment relationship should always be documented. An employment contract prepared by a solicitor is the best option. A good employment engagement letter can also suffice in certain circumstances, but it may not be good enough when something goes wrong.
Click here to find out how you can protect your business before you make your next hire.
NEW EMPLOYEE SHARE SCHEME RULES
Our business clients are often interested in rewarding their staff with equity in the business. They see it as an opportunity for employees to have skin in the game, with the obvious motivational and staff retention benefits.
Unfortunately, the issue of shares or options to employees comes with tax implications and other complexities. However, with new rules taking effect from 1 July 2015, Employee Share Schemes look set to become more attractive.
Please click here for more information.
WHAT NOT TO CLAIM
When completing your 2015 tax return, it is important to be mindful of the expenses you claim as tax deductions, to avoid putting yourself onto the ATO’s radar and increase the risk of an audit.
Expenses incurred to earn assessable income are tax deductible, but there are expenses that are not deductible under the tax law.
Click here for some examples of what you can’t claim.
SHOULD I DO A DEATH BENEFIT NOMINATION?
A death benefit nomination (DBN) instructs the Trustee of your self managed super fund or corporate superfund how to pay your super benefits in the event of your death.
Our full article provides some information about who you can nominate and what your options are when implementing a DBN as part of your estate planning strategy.
We can help you make the correct choices, and complete the necessary steps to ensure that these choices are legally enforceable.
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[vc_column width=”1/3″] THE RESULTS ARE IN!
We would like to say a massive THANK YOU to everyone who took the time to help us with our recent survey.
We received some great feedback and some valuable insights about what is important to you and how you think we are performing.
While the feedback was mostly positive we have taken your insights on board and will make any necessary changes so our service to you continues to improve.
QUOTE
“Never look back unless you are planning to go that way”
Henry David Thoreau
GOODBYE 2014/2015
It’s been a big year, so on Friday 27 June, the entire S&W team made it to Bungalow 8, to let their hair down and ring in the New (financial) Year.
We also took the opportunity to thank our long-term staff for their loyalty to the firm. Helen Campbell, Grace Yang, Cameron Grace, Rachel Corpuz and Jodee Hughes were all rewarded for more than 5 years of service. Thanh Vo received her reward for more than 10 years of service.
Without their commitment to the firm we would not be able to perform as we do.
*Correct as of July 2015
*Disclaimer – this article has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability limited by a scheme approved under professional standards legislation.
