Super tax break not just for employers THE ability to claim a tax deduction for super contributions is not limited to employers. Those who qualify as self-employed can also claim a tax deduction for super contributions. In some cases, a person can be employed full time and still qualify for a self-employed superannuation tax deduction. Q I am 62, employed by a company and fully sacrifice my salary into superannuation and my employer pays the SCG (superannuation guarantee charge) on the amount salary sacrificed. My payment summary certificate will include a small amount of salary plus fringe benefits for the provision of a car. A The 10 per cent rule you refer to relates to one of two tests that must be passed for a person to be classified as self-employed. The key word is "entitled". Advertisement There is no one test that can be applied to determine if a person is an independent contractor rather than an employee; instead, the facts of each situation are taken into account. Questions to max@taxbiz.com.au
ASIC Home | ASIC - Australian Securities and Investments Commission Bachelor of Commerce Commerce at UniSA allows students to specialise in the accounting profession; accounting is the language of business. The program provides strong links with the accounting profession and its professional industry bodies. This keeps the degree fresh, relevant, recognised and respected. These links prepare students for a vibrant, challenging career path, both locally and globally. UniSA Commerce students benefit from career mentoring. They are paired with experienced and successful business partners to develop career management skills and build valuable insights into business and the accounting profession. Commerce graduates are decision makers and problem solvers. This degree is designed to enable students to fulfil the role of an accountant and or business advisor in commerce, government or public practice. Commencing and continuing student information:
Teaching resources for VET | ASIC's MoneySmart Money management skills for VET students MoneySmart offers a number of online resources to develop the personal money management skills of VET students, apprentices, trainees and senior high school students. For students considering self-employment or starting a small business after finishing school, understanding money and finance is vital. First Business resources ASIC's First Business resources have been developed to help young people thinking about going into small business. First Business online module - designed to assist students with deciding whether small business is right for them First Business app - helps students prepare for the practical parts of running a small business The First Business online module includes eight sections and covers getting started, business planning, budgeting, tax requirements and insurance. Each section includes a scenario to put everything in context, reflect on and help grow business ideas and an activity to apply new knowledge. First Business app
Federal Incentives (United States) They were nice while they lasted, but the tax credits available to hybrid gas-electric cars bit the dust on Dec. 31, 2010. The incentives that President George Bush signed into law, as part of The Energy Policy Act of 2005, had granted up to $3,400 as a tax credit for the most efficient hybrid cars—and $4,000 for a compressed natural gas vehicle. They are gone, with little prospects for returning. Instead, legislators have jumped to the next technology breakthrough: tax credits for plug-in hybrids and electric cars. A combination of local and national credits—up to $7,500 at the federal level, plus a $2,000 credit for charging equipment installation, plus state-based incentives (of $5,000 in California)— represent so far the largest bundle of incentives ever for private purchasers of green electric-drive vehicles. With hybrids remaining below 3 percent of the new car market, some green car advocates wonder if the hybrid tax credits have vanished too soon. Training Wheels Come Off
Do You Really Need a Business Plan? This story first appeared in the December 2008 issue of Entrepreneur. To receive the magazine, click here to subscribe. Starting a business was the last thing on Sean Hackney's mind when he sat down to write a business plan. Hoping to persuade a soft drink company to hire him, Hackney scripted a plan for taking on his former employer, Red Bull North America Inc. But when he showed it to his corporate attorney father and former Red Bull managing director, "they said, 'Don't send this to Coke or Pepsi. Start the business, and we'll start it with you,'" he recalls. That was in 2000. Clemson University entrepreneurship professor William B. In 2006, William Bygrave, a professor emeritus at Babson College and longtime entrepreneurship researcher, studied several years' worth of Babson graduates to find out how much better those who started businesses with a formal, written plan did than those who didn't. For or Against That's hardly the final word, however. The Money Factor Planning Trends
Small Business Accounting Prerequisite(s) 36 units including the course above. Corequisite(s) Nil Course aim This course provides the opportunity to understand the application of accounting systems, techniques and professional accountancy practice to the needs of small business. Course content Objectives and resultant accounting needs of small business; the role played by accounting and accountants in small business; organisational structures; recording systems; managerial reporting and financial decision making; meeting compliance needs; taxation planning and assessment; payroll and other cost management; debtor management; applying for credit; current issues; ethical considerations; risk management. Teaching method Note: These components may or may not be scheduled in every study period. Assessment Fees EFTSL*: 0.1250Commonwealth Supported program (Band 3) To determine the fee for this course as part of a Commonwealth Supported program, go to:How to determine your Commonwealth Supported course fee.
financialcounsellingaustralia.org You can find a financial counselling service using the map below. Either type in your postcode or click on your area. You can talk to a phone financial counsellor from anywhere in Australia by ringing 1800 007 007 (minimum opening hours are 9.30 am – 4.30 pm Monday to Friday). This number will automatically switch through to the service in the State or Territory closest to you. Consumer Action Law Centre: 03 9629 6300 Legal advice for the public: 03 9629 6300 / 1800 466 477 Legal advice for consumer caseworkers: 03 9602 3326 Website: MoneyHelp: 1800 007 007 Not-for-profit Victorian Government service providing free, confidential phone financial counselling for Victorians experiencing financial difficulty. Financial and Consumer Rights Council: Find a financial counsellor, seek advice or referral: 1800 007 007 Diploma and membership enquiries: 03 9663 2000 The peak body for financial counsellors in Victoria.
Small firms and the digital economy | CEMI The rapid expansion of digital technologies has transformed the way that markets and industries operate. According to the 2014 Accenture Digital Consumer Tech Survey, today’s consumers are increasingly online and mobile with the majority owning or planning to own a laptop computer, smartphone, HD TV or a tablet. This rise in consumer engagement with digital technologies was also highlighted by the Telstra Sensis e-Business Report for 2014. For small to medium enterprises (SMEs) the ability to engage in this digital economy is vital not only to their success, but to their very survival. The Sensis e-Business Report also found that only 23% of Australian SMEs had developed a strategic plan for future digital business engagement. To gain an understanding of what is happening in the world of SMEs and the digital economy I undertook a review of the academic research literature over the period 2013-2014. Digital technology and SME performance Using e-commerce in developing economies
Business Plan