News Articles
Without the right business advice, the cost of wage and entitlement underpayment could lead to jail!
Business owners need to ensure they get the right advice to ensure they are adhering to all the different awards in relation to employee wages and entitlements, as breaches of the Fair Work Act can be a criminal offence that can lead to severe fines or even imprisonment. Ignorance is no defence! The high profile […]
Employment Law – changes to calculation of personal leave.
A recent Federal Court decision regarding employment law will affect all businesses in Australia, with wide-ranging implications for employers who do not abide. This is essentially due to a change in what was considered a “standard working day!” On 21 August 2019, in Mondelez v AMWU & Ors [2019] FCAFC 138, the Full Federal Court […]
How strata housing levies can lead to bankruptcy!
For many of us, ownership of a residential strata apartment is a successful way of fulfilling the need for a private dwelling, but it comes with the shared responsibility for maintenance and upkeep with other owners. As we are now seeing in many cases, the situation can become difficult when strata unit owners are being […]
What happens to superannuation in the event of bankruptcy?
In the challenging event of bankruptcy, your super funds could be off-limits to creditors and may even be used to fund asset purchases. The Bankruptcy Act states that, if a person becomes bankrupt, funds held in a person’s regulated super fund are protected and unavailable to creditors. In addition, a bankrupt person can withdraw money […]
How 2nds World become Harvey Norman 2nds World?
History The 2nds world brand has been a well-known, long standing brand for over 20 years. It started with a 200sqm store in Cremorne and became the largest provider of seconds whitegoods in Sydney. It will always be remembered with affection and fond memories playing an important role in providing a great low-cost solution to […]
Advisory Boards are often the secret behind successful and thriving businesses!
More businesses should be discovering the benefits of using Advisory Boards! If you own or know of a business that is experiencing, or has the potential for high growth, one of the most worthwhile things you should do is look at starting an advisory board. Growing a business is challenging work, so find out how […]
How to distinguish good growth from bad growth in business
While it may seem like a fairly obvious distinction, even the best accountants and business advisors can miss the signs of a company that is experiencing ‘bad growth’. So, what is considered bad growth? It is often characterised by: growing unnecessary debt; expanding the wrong kind of behaviours; and allowing innocuous issues to develop into […]
Employment Law – Changes to calculation of personal leave
All business owners and advisers should be aware of a recent decision in regard to employment law, which will affect every business in Australia. On 21 August 2019, in Mondelez v AMWU & Ors [2019] FCAFC 138, the Full Federal Court of Australia confirmed that all employees (including part-time employees) are entitled to 10 “working […]
The need for Insolvency Practitioners to act quickly in Administrations to minimise delays!
In the complex task of finalising insolvencies, Insolvency Practitioners try to expedite the process without sacrificing thoroughness. Although certain delays are inevitable, particularly in receiving Court decisions, Insolvency Practitioners (IPs) can save time, and costs, by making use of Court provisions designed to limit their duration. Quick takeaway It is in the interests of all […]
As an employer, how do you know if you are correctly managing multiple awards?
Do you need to manage multiple awards for employee pay and entitlements in your workplace? Have you noticed the increased instances of where employers are underpaying employees? Are you confused and not sure if you are paying your employees correctly? You’re not alone! It seems that we are getting more and more enquiries from businesses […]