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The Art of Negotation!
We recently came across this fascinating podcast from The James Altucher Show. Special guest Chris Voss, a former FBI hostage negotiator and the author of, "Never Split the Difference discusses the art of negotiation, drawing significant parallels to daily negotiations in business or a simple car purchase. Valuable techniques in language, vocal tone, respect and more are covered in this intriguing discussion.
Tax Commissioners Hit List
The Australian Taxation Office (ATO) has delivered a warning via Tax Commissioner Chris Jordan as to their upcoming investigative focus citing a 6% gap between current and possible future tax revenue collected.
Selling a property valued at $750k or more???
Every vendor selling a property needs to prove that they are a resident of Australia for tax purposes unless they are happy for the purchaser to withhold a 12.5% withholding tax. From 1 July 2017, every individual selling a property with a sale value of $750,000 or more is affected.
While these rules have been in place since 1 July 2016, on 1 July 2017 the threshold for properties reduced from $2 million to $750,000 and the withholding tax level increased from 10% to 12.5%
Employee Vs Contractor - KNOW THE FACTS!
The difference between an employee and an independent contractor has been an issue causing much confusion amongst small business for a long time.
Some of the more common industries we find that are caught up in this confusion include building and construction, cleaning, road transport, engineering and information technology industry (IT).
Changes to Motor Vehicle Claims
Cents per kilometre method
The cents per kilometre method is still available for use with some changes. Separate rates based on the size of the engine are no longer available from 1 July 2015. Under the revised method for 2016/17 income year
Stress effects our performance, both physically and mentally, keeping us from reaching our potential.
So how do we control Stress?
Should You Cancel Your ABN?
The most common reason for businesses cancelling their ABN:
- closing down
- being sold
- restructuring (from a sole-trader to a partnership, for example)
GST On Importing services and digital products
From the 1st July 2017 a new goods and services tax has been imposed on businesses that sell imported services and digital products to Australians.
These new laws affect business that have an annual turnover of $75,000 or more.
Protect yourself against RansomWare.
Ransomware is a virus that stops you from being able to access your computer files unless you pay a fee, or ransom, to the hackers.
The amount demanded can be crippling and many software companies say that such attacks are on the rise.
Important Dates for August 2017
A quick reminder of upcoming critical dates