Mental Health & Your Workplace
Workplace stress is defined by the World Health Organization as “the response people may have when presented with work demands and pressures that are…
The Cost of Space
Last Friday the 22nd of February, at 8:45pm, the Israeli spacecraft Beresheet launched atop a SpaceX Falcon 9 rocket from Cape Canaveral, Florida. At a cost of US$100 million, Beresheet was the first privately financed mission to the moon.
On the 30th of March, 2021, NASA’s James Webb Space Telescope is set to be hurled into space, coming to rest 1,500,000 kilometres from Earth. This US$9.5 billion telescope will replace the Hubble Space telescope. That old timer was launched in 1990 and itself cost about US$4 billion.
Exploring space costs a lot of money; money that many people will say could be better spent. Would it be more beneficial to forget about space, and worry about what’s under our feet? There would certainly be a lot of great ways to spend $10 billion on our own rocky planet. There is a never-ending list of important public issues that require funding, such as healthcare, education, and taking better care of the environment (to name a few).
Smarter people than me are employed to make those choices, however, I would encourage anybody to consider the broader benefits to society that space exploration provides, before being so quick to dismiss the investment.
Six Ways to Maintain Wellness in the Workplace
As we enter into another busy part of the corporate season, below are some tips to maintain a clear head and good mood in the office:
1. Get Healthy Sleep
Ensure a good night’s sleep. Sleep will help you lower your stress levels and improve cognition, concentration, and performance. This includes improving your problem-solving skills and enhancing your memory performance. Not surprisingly, all these qualities are affected negatively by sleep deprivation.
2. Move around
Oftentimes when we are under pressure (e.g. a looming deadline), and we end up bolted to our desks in an effort to get the “thing” done.
Regardless of how busy you are it’s important to move around, circulating oxygen around the body and keeping a clear head. Where you can, try to get out of the office for at least five minutes and breathe some fresh air, take a walk around the block. At the very least move the around office. Doing so could prevent you from developing brain fog, RSI, fatigue or eyestrain at work.
3. Green Tea
Coffee is a staple for many and may act as a short-term energy boost. Conversely, coffee can also often leave one anxious or jittery where there are sensitivities to caffeine, or it is consumed to excess. Where possible, opt for Green Tea instead. Green Tea contains L-Theanine which may help promote relaxation, reduce the bodies’ perception of stress, and slightly improve attention.
Significant Reforms to the Sponsored Family Visa Program
What is the change? The Migration Amendment (Family Violence and Other Measures) Bill 2016 has been passed by both houses of Parliament and is…
Do you need to amend your discretionary trust deed before 31 December 2018?
If you have a discretionary or hybrid trust that owns residential land in NSW you may need to have your deed amended before 31 December 2018.
Duty and land tax surcharges were imposed from 21 June 2016 where residential land in New South Wales is to be acquired or is owned by foreign persons. Where the land is to be acquired or is owned by a discretionary trust, the trustee of the trust is a foreign person if any foreign persons are beneficiaries (whether or not named in the trust deed) under the trust.
Proposed Super Guarantee Amnesty
A one-off Amnesty opportunity was announced by the Minister for Revenue and Financial Service in May 2018. This 12-month Amnesty allows employers who voluntarily disclose previously undeclared SG shortfalls be able to claim a deduction for the catch-up payments made in the period.
This also allows employers not to be liable for the administration component and penalties that would otherwise apply to late SG payments.
Westpac scraps all SMSF loans
Westpac confirmed today (16 July 2018) it is scrapping all SMSF loans, after announcing last week its subsidiary St George would exit the market.…
Government amends the start date of proposed small business CGT concessions measure
The government will amend the start date of their proposed small business CGT concessions measure. In amendments to the bill on 21 June 2018, the government has decided to push the start date back to 8 February 2018, the date the draft legislation was released for consultation. This will provide a transition period between announcement and the date of effect, a change that is also expected to bring welcome relief to tax advisers and their clients.
NSW Budget 2018/19
The New South Wales Treasurer, Mr Dominic Perrottet, handed down the NSW Budget for 2018/19 on 19 June 2018. The only tax-related measure announced in the Budget was an increase in the tax-free threshold for payroll tax from its current level of $750,000 to $1 million.
Asset Recoverability – “SMSF Auditor Failure to Qualify Opinion, leading to losses for Trustee’’
“SMSF Auditor Failure to Qualify Opinion, leading to losses for Trustee’’
On 23 May 2018, the NSW Court of Appeal handed down a decision that the auditor of a self-managed super fund (SMSF caused the losses incurred by the trustee of the SMSF.
In the case Cam & Bear Pty Ltd v McGoldrick, the decision was held in the NSW Court of Appeal (NSWCA), that the Auditor of the SMSF had breached his duty of care to the trustees of the SMSF, in that negligence was displayed in the Auditors performance when issuing an unqualified audit opinion, albeit significant issues were present in the SMSF financial statements for the financial years 2003 to 2007. This negligence ultimately resulted in the financial losses sustained by the plaintiff.
The decision by the NSW Court of Appeals resulted in a liability apportionment of 90/10 against the auditor. (See more details about the case here)