More often than not, the entrepreneurs are told that budget is one of the most important tools that they should use for managing the business they are going to start. Continue reading
Saving money is considered one of the hardest things to do if you do not go about it the right way. Continue reading
Scott Morrison is presenting his first budget and even though he has to make cuts, he also has the tough job of deciding which segment of the population to appease, for elections are near and nobody wants to make the voters angry. Therefore he has delivered a budget which promotes business by cutting the company tax, while at the same time it targets elite earners and takes away all concessions that had been available on the superannuation tax. If a person is from the middle income earners, then they too may rejoice as they have been given a cut in their income tax for the next four years.
Academia gets their just rewards
The budget has bode well for the academia as schools are set to receive an increase of 11.1% in their funding if they are public and the ones of the private variety are set to get an increase of 7%, both of these are by no means nominal and have been long sought after. Combined these will equate to more than $1.2 billion in hard monies granted to schools.
Young jobseekers get new opportunities
Young job seekers are going to get more opportunities seeing that the government is going to invest more than $751.7 million in its aptly titled “Youth Jobs PaTH” (yes that is not a typo, rather it is an acronym standing for “Prepare” , “Train” and “Hire”). For the young men and women who want to follow their own paths, a sum total of $88.6 million will be invested in programs that encourage and aid young entrepreneurs and allow young people to get self-employment. However on the converse side the work for the dole will be gutted and a sum total of $494.2 million will be removed from the program making it harder to enter the program.
Young entrepreneurs, small business owners get a tax cut
One of the most important aspects of the budget is that government will change the official definition of a “small business”. From 2016 onwards a small business will be one that turns overs up to $10million instead of only $2 million. It is estimated that more than a hundred thousand small business owners, new entrepreneurs and self-employed people will come under this umbrella thereby getting a tax relief that they had been denied before.
Online purchases get hit with gst
With all the tax cuts going around, there will be some tax hikes as well. The hardest hit will be online purchases of under $1000 which were exempted from tax till now, but come July 2017 they will be paying tax as per the rules of GST. According to rough estimates, customers who buy these low value goods will be paying taxes to the amount of more than $3 million over the next three years.
More and more young job seekers and entrepreneurs are opting to tier own finances these days. Continue reading
Getting in debt is always a worrisome situation and one should make all the efforts to make sure that they stay out of debt trouble. Continue reading
Many people often find it hard to manage their finances and soon get under considerable amount of debts. However, there are some simple ways that everyone can implement for taking control of their finances. Here are top 8 of them. Continue reading
Even if small savings may not appear to be too much initially, when all of them are added up at quarter’s or year’s end, you might be quite pleasantly surprised to see what you have saved. If you find it hard to save then consider these simple tips for saving money around your home. Continue reading
As a parent, you probably want the best for your children and you want to be able to provide them with everything necessary so they can succeed in life. However, raising a child can be very expensive, especially when he hits the teen years and he wants to go to college. You probably think there are years before that happens, but time flies so fast, you won’t even notice when your baby becomes an adult. How can you make sure you will always be able to provide your child with everything he needs? Planning the savings when he is little will spare you of many problems to come. Opening a bank account for your child’s savings may be a solution, but not the best one. Here are some great saving tips you can also use! Continue reading
Holiday shopping is supposed to be fun, but in reality it is very stressful and time-consuming. There are so many things to buy; you need to make lists and go in crowded shops to find all the items you need. Plus, there is always the money problem: they never seem to be enough! So how can you solve your holiday shopping issue and make this activity a pleasant one? Well, you could use these 6 smart saving tips for holiday shopping! Continue reading
It seems like we cannot help but keep piling up debts with the rising cost of living these days. However, take a look into how our lifestyle is and this may actually be the main culprit due to its unending demands for small luxuries. Notwithstanding all this, Continue reading