May Tip Bits

07/05/2021 | Rhonda Parkin

Andreas Klassen Gzb I Da6ns Unsplash

Do you know your own numbers?

Have you measured the impact of the recent business legislation on your figures?

Recent legislation (proposed)

– Interest deductiblity – for property investors

– New annual statutory holiday – for employers

– New sick leave entitlement – for employers

These measures and others yet to be announced will be increasing the cost of being in business for you this year. Have you measured the impact and allowed for it in your pricing for this year’s services. I had a conversation with an employer this week who said the extra cost would be $84000 a year for his business and he had no choice but to put up his price to cover the extra cost of employees and stay in business.

It is important to stay in regular communication with your accountant and we encourage quarterly meetings for our business clients and at least annual for our investors so that we can help you make adjustments to your figures that you need to – to stay in business as new opportunities arise and/or difficulties whether expected or unexpected are encountered.

Planning for Success Workshop

Thursday 20 May 9am – 1:00pm

This workshop is recommended most suitable for growing businesses who are or wish to manage a small team of employees. The focus for this workshop is Understanding your Numbers.

This is a business education session designed to help inspire leadership thinking, gain clarity and create strong action plans.
Making small regular improvements to business processes will help you achieve long term success

For those business owners who want to:

– Work Smarter and not just harder.
– Gain leverage.
– Be financially profitable
– Have a better work-life balance
– Get more enjoyment from your business

Free Webinar GET Back to Business

Wednesday May 26 12pm

The only certainty for businesses right now is that there will be ongoing disruption. Focus your energy on the things you can control and the opportunities that exist. Our Get Back to Business webinar will help you get the best return on your efforts and use change to help you work through these uncertain times. You’ll also get a complimentary Back to Business Action List to help you plan and execute with confidence and focus.

Join us for this complimentary webinar, where you’ll:

Clarify the challenges you need to overcome
Understand how to embrace change and focus on what you can control
Define your product/service mix, marketing plan and HR needs
Determine key finance, budget and pricing requirements
Define the planning you should undertake to get back to business

View the recording here

Employment agreements – Are these fixed in stone or can they be changed?

Employment Agreements can be changed for any number of reasons including some that may specifically relate to the new working envirionment post Covid. EG: The usual place of work is xxxxxx unless lock down rules prohibit this or specific regular arrangements are agreed in advance.

Basic rule is that it must be fair and reasonable to both parties. The best time to make a change is when there is a change in compensation and as part of this change – the employee can be requested to sign a new agreement. The changes to the original agreement and the reasons for them are able to be discussed and agreed together at this time.

If you are looking for advice about changing employment agreements, creating them or other employee related questions please don’t hesitate to contact your accountant. For our clients who use a payroll provider they also provide excellent payroll help. If you have a deeper employment issue that needs resolving we can point you in the right direction for further specialised professional advice depending upon the complexity of the problem.

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