July 2015 Issue 106

July 2015 Issue 106
This latest ruckus between the Abbott Government and the ABC, in relation to a young man on QandA that had...
Associations To Business
The Canberra Business Chamber commends the ACT Government for providing strategic funding in this year's Budget to stimulate economic activity...
Cover Story
With a record number of new Canberra partner promotions in 2015, EY's current and former Canberra Managing Partners, Todd Wills...
How secure is the cloud, really?
Accounting
Actually they are far less risks in moving your accounts to the cloud than keeping your data on a dedicated computer in your premises. Your accounts computer with all your accounting data is not only at risk from attacks from the internet through malware, spyware, key loggers or other nefarious pieces of code that can find their way onto the...
A closer look at Lender’s Mortgage Insurance
Banking
As people look to purchase their new homes sooner, Lender's Mortgage Insurance (LMI) has become more popular with homebuyers. Simply put, LMI protects the lender in the unfortunate event that the homebuyer or borrower defaults on the loan. On the flipside, LMI could make it possible for homebuyers to purchase a home with smaller deposit1,2. LMI is usually a once-off...
Increased ATO recovery action means hidden issues for directors of insolvent companies.
Business Advisory
Much has been made of the recent spike in activity emerging from the Australian Taxation Office (ATO) in pursuing winding up action against small business debtors. That increased activity must serve as a warning to recalcitrant businesses. However, whilst the payment of taxes on time and for the full amount is always good business practice, if you find your company...
10-point end of your checklist to raise with your trusted advisor
Bookkeeping
Many clients tell us they don't have an accounting background so it's difficult for them to check work done by their accountant/bookkeeper. This article provides business owners with a list of 10 things to tick off with their trusted advisor. 1. Payment summaries: Check that your bookkeeper/accountant has conducted a reconciliation between total salary & PAYG with holding in your...
Update your Privacy Policy to ensure your customers/suppliers feel more secure
Business Law
We have been forced to come to terms with a world in which privacy concerns are less about keeping your personal information from others (a near impossible feat in the Digital Age) - but more about limiting its use and dissemination without our consent.1 The Australian Privacy Principles (APPs) were developed to deal with that precise concern through compelling all...
Directors call for tax reform
Corporate Governance
In 2014, the AICD published its Not For Profit (NFP) Governance Study and also held a series of roundtables which investigated the financial sustainability challenges of the NFP Sector. In this diverse NFP sector, factors affecting sustainability vary according to the function and funding base of each organisation. Those focused on service delivery, for example, are increasingly likely to have...
Over 40 years of entertainment knowledge and experience in one call
Entertainment
"Motivation", "Loyalty", "Drive", "Determination", "Goals" are words that often describe today's business success, and for over 40 years I have built one of Australia's most comprehensive stables of motivational speakers and entertainers, for your next business function. From staff sales training sessions, to conventions and corporate presentations, the right guest speaker, or entertainer, can make your next event stand out...
How to manage a successful direct mail campaign
Distribution Logistics
If managed correctly, direct mail can continue to be an important and cost-effective component of any marketing or information dissemination campaign, used either in tandem with the electronic media or as a standalone tool. A good direct mail campaign will focus on promoting a specific product, service or offer, and encourages your prospective customer to act - to receive further...
The role of semantics in trade mark adverse reports
Expert Advice
One of my old running mates recently posted a photo on Facebook of a sign which listed prohibited conduct in a recreation reserve: " jogging is prohibited". I posted a suggestion that if he was charged, the logical defence would be "but, your honour, I was not jogging. I was running. There is a difference. Not guilty as charged". My...
Redundancy and separation
Expert Advice
Redundancies, both voluntary and involuntary, are a very common occurrence in Canberra in recent times. Many people view them as a fresh start, a means of paying down debt such as mortgages, and a way forward into their future. This is particularly the case if a redundancy occurs shortly after a separation. Incorrectly, many people who receive redundancies after separation...
Business benefits/costs of the cricket world cup
Expert Advice
A study by PriceWaterhouseCoopers (PWC), commissioned by the Cricket World Cup Organising Committee, Cricket Australia and Cricket New Zealand, reports that the recent Cricket World Cup generated more than $1.1 billion in direct spending ($25 million in the ACT), created the equivalent of 8,320 full time jobs (250 in the ACT), and a total of 2 million bed nights across...
Why we all need friends at work
Expert Advice
Most of us spend more time with our colleagues during the working week than we do our own families, so it's important that we have established relationships with our workmates which allow us to be happy and productive. 70 per cent of employees say having friends at work is the most crucial element to a happy working life. These employees...
Results driven digital strategies
Expert Advice
Direction is so much more important than speed - many people are going nowhere fast. Many business owners fail to really look at the strategic direction of their business on a regular basis. With time and pressure of running a small business, goals often become blurry. Thinking strategically, takes time and patience - which is often the last thing a...
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