Whether you’re starting your first job or just starting a new job…one of the first pieces of paper your employer should give you is the TFN Declaration.

This form helps your employer to work out how much PAYG (Pay As You Go) they should withhold from your gross wages based on the ready reckoners as published by the Australian Taxation Office (ATO).

While the form itself is pretty self explanatory, one of the most common questions I get asked is in relation to claiming the tax free threshold.

At present, the tax free threshold is $18,200 for resident taxpayers and you would usually claim the tax free threshold from your primary job.

In the past when the tax free threshold was a much lower $6,000, it was common practice to only ever claim the tax free threshold from one employer.  However if you have a second job, and your total combined income is expected to be less than $18,200 then you can claim the tax free threshold from both employers!

BUT BEWARE: If you have income from other sources (such as interest), or your wages end up higher than expected…you may end up with tax to pay upon lodgement of your income tax return – so always seek professional advice (preferably from ME!) if you are ever in doubt.

Regards

Note: please refer to our Important Information and get in Contact to discuss your individual circumstances.

One minute you’re nursing them in your arms…the next they’re heading off to their first job!!

My cousin contacted me recently to share the news that her daughter had landed her first job!  Apart from being in denial at her baby girl growing up…she was interested to know, as a parent, what she should be aware of?

The first thing is to ensure your child has a Tax File Number (TFN) – many schools run a program where they assist students in completing their TFN application.  But if this program isn’t available at your school, or your child has not been involved in it, you can access the TFN application process here.  You’ll need to have some documents ready – there’s a long list but if you have a birth certificate and a Medicare Card that would be a great start!

Secondly, employers are not required to pay superannuation for children under the age of 18 unless they earn more than $450 in a calendar month and work more than 30 hours in a week, for a student in a casual job, this is unlikely.  However, an employer may still be required to give your child a Standard Choice Form for superannuation which should be completed and returned.

And thirdly, in regards to breaks while working and between shifts, you should refer to your State or Territory business department (such as Business Victoria).

On a personal note, I think the parent should introduce themselves to the employer or relevant manager, it’s important to know where your child will be spending time and what duties they’ll be performing and if there’s anything you can do at home to assist the child in making the transition to employment.

Over the next week or two we’re going to look at the TFN Declaration, Choice of Super Form and savings plans for children…so stay tuned!

Regards

Our next Business in Heels – South West Victoria event is coming up on Wednesday 10th February, 2016!

As Branch Director I’ve been working very hard to ensure we have an entertaining and informative night…and I think you’ll be suitably impressed when you come along!

This month sees us in the open space of Café Lava – I know Chernae and her team are looking forward to having us, as we look forward to supporting another young woman in business!

Our special topic is “Boost your Business with Destination Warrnambool” – Catherine Kelson joins us to let us know how the network works and exactly what those #hashtags mean…

If you’re a local businesswoman I encourage you to get involved with this initiative – but if you’re not a business owner…you can still find out how to use the network to support your favourite businesses…and of course have a chat and network with likeminded women – its a win win for all!

There’s some fabulous door prizes up for grabs too (more to come on this via out Facebook Group – click here to join)

Follow this link for tickets!

Regards

I LOVE great customer service!

In reference to “Customer Service”, good old Wikipedia provides the following information “Customer Service is the provision of service to customers before, during and after a purchase.  The perception of success of such interactions is dependent on employees who can adjust themselves to the personality of the guest. Customer service is also often referred to when describing the culture of the organisation.”

The level of customer service you provide can be the basis on which consumers promote your business – sometimes that publicity can be good and sometimes that publicity can be bad.

Over the past two weeks I’ve experienced an example of great customer service (although I doubt the young lad in question would even view it that way), and a really bad example of customer service from an organisation I expected better from!

As a consumer, I am the type to go direct to the organisation to advise of my good or bad experience…but there are many examples, especially with the popularity of social media, where consumers are not so private – this is great when it’s praise, but not so great when it’s a complaint!

My point (I promise I have one…) – make customer service a priority, train your staff and engage in continuous improvement!

Good luck!

Regards