Australian-money

Saving a buck at tax time

Saving a buck at tax time

A dollar saved is a dollar earned. It’s an old saying, and I sometimes get concerned that many people and companies often forget the basics. Crikey, even some senior financial editors and economic commentators don’t understand the difference between revenue and profit, so one wonders what hope there is for coming generations when such basic fundamentals are missed. For all our readers, now is the time you can make smart financial decisions for your business through things like tax planning. So here is what you need to know about the End of Financial Year Instant Asset write off.

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Encouraging the next generation

The foundation for ensuring the next generations success in business is to instil in them the same enthusiasm as the founder has. As well as of course sharing knowledge that has come from many years of making good (and bad) decisions, the founder needs to pass on the reigns to a particular character of person with substantial commitment to make it through the critical five-year period and maintain the successful formula.

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Unfair Contracts takes its first bite

Faithful readers will recall from our January 2016 Newsletter the heads up about unfair contracts legislation that took effect November 2016. The first legal case using this legislation has now bitten its first victim. In essence, a company can not enter into a contract that creates a significant power imbalance between the parties. The easiest way to think of this legislation is “Do unto others as you would have them do to you” – if your contract doesn’t meet this requirement, it is illegal.

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Solar Farm burns money

  • Imagine putting $100 in the bank and getting back a guaranteed $83 a year for four years, and then $59 a year for the next decade — all taxed at a maximum rate of 30 per cent. Your 2.9 per cent high interest saver account, taxed at 39 per cent, isn’t looking so good.

  • Courtesy of Australian electricity users, and the stupidity of the commonwealth government, Saudi Arabia’s Abdul Latif Jameel Energy, which bought Spanish solar farm builder Fotowatio in early 2015, has indeed struck such stellar returns.

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The employer/employee pay disconnect

All business owners and managers have at some point been in the position of reviewing employee pays. Most will only do this in the context of a person being paid $X per hour in wages, as opposed to outlining the full costs of employment and what employers provide in terms of employment benefits.

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Evolutionary Times for RD Williams

Rod Williams has been widely acknowledged as improving the Earthmoving industry in Australia by raising the industry standards of used machinery dealers. Since 1988, Rod’s principles of standing behind everything his business does through giving the market top quality products at value for money prices has guided the direction of the RD Williams businesses.

It is this consistent goal to be the best at meeting the needs of the market that has now driven RD Williams to evolve. To become even easier to do business with, the businesses are streamlining the business names to simply RDW.

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Fail to Plan, Plan to Fail

Our industry is being badly let down by the lack of planning in infrastructure development. Look no further than the lack of planning regarding easing congestion around Brisbane. In 2009, plans were drawn for a $7 billion Cross River Rail (CRR). Upon change in Government in 2012, this was scrapped and replaced with Brisbane’s Bus and Train (BaT) project…

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March News from RD Williams

At a recent Sunday trip to Coolangatta, it struck me how many of the retailers in the main shopping centre were closed. The large retailers and restaurant chains were pretty much the only options. Considering this is a major tourist area and how busy the beaches were, there was clearly no shortage of potential customers. And therein lies the foundation for understanding the recent decision by the Fair Work Commission (FWC was set up by Julia Gillard as an independent body free of political interference, and tasked by Bill Shorten to review award conditions at four yearly intervals).

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Workplace Health and Safety for Machinery Operators

Staying limber while on the job mightn’t seem like the top thing on your daily priority list but for operators of heavy machinery, it is a vital part of workplace health and safety procedures. If you’re a machinery operator, truck driver, or project supervisor it is not uncommon to spend a typical 40 hour week in a seated position. While sitting at a desk or in the drivers’ seat while operating heavy machinery is an essential part of the job it can, however, have detrimental effects on the health of your body and overall well-being.

 

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January News from RD Williams

In this month’s latest news offering, we focus on industry predictions for 2017, dispelling “non-genuine” misinformation, and a fun POP QUIZ for you all! Read on to find out more…

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