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Can you Fire an Employee for Joining a Hate Group?

Posted by Georgia Kirby on Sep 8, 2017 7:00:22 AM

The world was shocked by the recent White Supremacist rally that occurred in Charlottesville. Afterwards the identities of certain protesters was released on social media, which led to one man losing his job. However, this action led to the employer receiving backlash online, not the employee. Therefore this begs the question: Can you fire an employee for participating in Hate Groups?

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Topics: Firm News

4 Questions You Should Never Ask in an Interview

Posted by Georgia Kirby on Sep 4, 2017 7:00:20 AM

A fundamental part of any business is recruitment.As an owner, you want to ensure you are choosing the right people to be part of your team.However, are you going about it in the correct way?Recruiting in the right way isn't always easy, due to the many legislation governs this area of workplace relations.

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Topics: Firm News

Why Keep Your Data in the Cloud?

Posted by Bizink on Sep 1, 2017 7:00:20 AM

Rather than being considered as an obscure concept, cloud computing is quickly becoming the norm for small businesses everywhere.

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Topics: Firm News

Revealed: The Minimum Income For a Healthy Life and How the Dole Falls Way Short

Posted by Georgia Kirby on Aug 30, 2017 7:00:47 AM

Not to worry though. Professor Peter Saunders and Megan Bedford, of the Social Policy Research Centre at the University of NSW, have recently published a new "budget standard" for both low-paid and unemployed Australians. The study was primarily funded by the Australian Research Council, with a quarter of the cost covered by donations from Catholic Social Services Australia, the United Voice union and the Australian Council of Social Service.

Through this new budget standard, the researchers have put together, and costed, the goods and services different sized families at these income levels require for each member - adult or child - to lead a full, healthy life. Therefore it isn't a poverty line and does take into account the current standards of the community. However it is the minimum amount required to satisfy one's basic needs.

"There is no allowance for even the most modest or occasional 'luxuries' and wastage was kept to an absolute bare minimum. Thus the budgets are extremely tight," the researchers say. For instance, a low-income family is assumed to have a car, but it is a second-hand, five-year-old Toyota Corolla, kept for five years. Someone who is unemployed has no car.

As it is healthy standard, the only allowance for alcohol is a couple glasses a week, with no smoking allowance.

Let's see how you would like to live on these budget standards (The figures have been rounded to the nearest $10 for easy understandability.). The low-paid categories assume at least one person working full-time on the national minimum wage.

A single adult would require $600 to spend per week. A childless couple would require $830. Adding a child of 6 rises this to $970. Another child added, aged 10, rises again to $1170. A part time working, sole parent with a child, would require $830 per week.

For this example, consider a couple with two children. Their biggest expense would be rent, $460 a week for a unit in an outer suburb with three-bedrooms. Then weekly expenses would be $200 for food, $140 for transport, $140 for household goods and services, $80 for recreation (swimming lessons; bit of sport for the kids), $60 for education, $40 for personal care, $30 for clothing and footwear and $20 a week for any out-of-pocket healthcare.

The budget standards for unemployed families are much more tighter.

While the low paid were assumed to shop at Woolworths and Kmart, individuals who're unemployed in the focus groups utilised to evaluate the realism of these standards said they couldn't afford these shops. Instead they shopped at Aldi and other discount stores, often chasing specials and collecting vouchers to make things last.

Regardless of frugality, a single unemployed adult still required $430 a week. A childless couple needs $660, which increases to $770 with one child and a higher $940 with a second child. A sole parent who is unemployed with one child needs $680 a week.

It is true that the economies of scale mean a couple only requires 1.5 times as much money as a single. However, additional kids cost more, partially because older kids cost more.

Good news is that a single adult working for minimum wage earns around $60 a week more than is needed to maintain the healthy standard of living, costing $600 per week.A part time working sole parent, with one child, gets wages and welfare benefits of $45 a week more than minimum standard of living costs of $830 per week.

However, there is still bad news. A low paid, childless couple earns around $40 less than the required $830. After taking into accounts family benefits, a low paid couple (one full time and the other doing part time work) with one child is almost $10 off their $970 minimum standard. A couple with two children are often short $90 from the $1170 they need weekly.

On of the major flaws on our nation's conscience is the long running attempt by our government to starve the unemployed individuals until they find a (typically non existing) job.

This study found that many welfare benefits designed for the unemployed, including the dole, fall close to $100 a week short of the minimum standards for healthy living for the single unemployed. Not only this, but a childless couple on the dole are about $110 a week and a couple with two children receive $130 less a week. However, we are likely to be far more generous to an unemployed couple with one child, who're short by on $60 per week, and also an unemployed single parent with one child, who go with only $50 less a week.

We could ask the politicians to be more generous, if only we weren't so concerned with maintaining our own standard of living.

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Topics: Firm News

Tips for keeping your business data secure

Posted by Bizink on Aug 28, 2017 7:00:35 AM

Data loss can be extremely costly for small businesses, with reports estimating the total costs to exceed $2.1 trillion by 2019.

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Topics: Firm News

Tax App - 'X Tax'

Posted by Georgia Kirby on Aug 27, 2017 2:10:47 PM

XO Accounting has recently launched a new tax app, able to be downloaded FREE from your App or Google Play Store on both Apple and Android devices.

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Topics: Firm News

Worthwhile Expenses for Entrepreneurs

Posted by Bizink on Aug 23, 2017 7:00:24 AM

As an entrepreneur it is important to ensure you are getting the most value out of your resources. Typically this means spending only on necessities. However, what one may think is a waste of capital is often what is needed to survive. While some are expensive, they are highly worthwhile.

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Topics: Firm News

Insights from your Profit and Loss account

Posted by Bizink on Aug 9, 2017 7:00:56 AM

Typically the Profit and Loss account (now more correctly called a Statement of Financial Performance) is one of the easier – if not the easiest – financial document to understand by small business owners. It’s typically presented in two parts.

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Topics: Firm News

Bookkeeping Basics for Small Business Owners

Posted by Bizink on Aug 8, 2017 7:00:17 AM

Small business owners spend, on average, up to 10 hours each week recording, organising, and processing their financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices.

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Topics: Firm News

Three Ways an Accountant Can Save You Money

Posted by Bizink on Aug 3, 2017 7:00:52 AM

By handling their financials themselves many small business owners think they’re saving money. While it is a skill to learn bookkeeping basics, cash flow management and tax obligations, there are several benefits to hiring an accountant to oversee your finances. By leaving your books to a pro you will have more time to better serve your clients and implement plans for growth. Here are a few ways an accounting professional can help you save money to put back in your business.

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Topics: Firm News, TAX

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