ASIC Banned and Disqualified Register

Well I was pleasantly surprised to learn ASIC has a seemingly transparent, accessible online search register of Banned and Disqualified persons and organisations.

ASIC being the Australian Securities and Investment Commission.

Excerpt from ASIC website

Banned and disqualified

The ‘Banned and disqualified’ search provides information about people and organisations that ASIC has disqualified or banned.

Notwithstanding I have founded grievances and continued sceptism over the actions, inaction and effectiveness of ASIC in its role as national regulator for the financial services industry, there is nonetheless a host of information at the website and there are certain legal perimeters which need to be abided by.

Following various Inquiries and present Royal Commission into the banding and financial services industry ASIC have noticeably made changes. It certainly is purporting to be doing its job.

ASIC does, after all, have access to resources in its role which it appears have applied in part to upgrade its service and obligations.

If you are in business, have a company or any financial dealings whatsoever, it is advisable to visit the ASIC website, if only to check media releases.

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SuperStream

Super Stream what is it?

SuperStream is a standard of measures, introduced by the Federal Government,  for processing superannuation data and payments electronically.

The main aim of SuperStream is to ensure employer contributions are paid in a consistent, timely, efficient manner.

Under SuperStream, you need to pay super contributions for employees electronically (EFT or BPAY) then send associated data electronically.

SuperStream

If you make super contributions for employees you need to get ready forSuperStream.

Businesses with 20 or more employees should already be using SuperStream. Businesses with 19 or fewer employees had until the end of June 2016.

However, the ATO extended the deadline to small businesses to 28 October 2016 to get SuperStream ready.

This means the ATO will not be taking compliance action against small businesses that missed the 30 June deadline.

To read up on SuperStream info supplied by the ATO, click here.

You can also find information on ATO web page for Small Business Superannuation Clearing House and case studies on the website.

Source:  The Tax Institute

 

Small Employers (19 or less employees)

What are your options?

You have two options to comply with the new standards. You can either use;

  • a software solution that conforms to SuperStream, or
  • a provider who can arrange SuperStream compliance on your behalf, like Sunsuper.

 

Other Resources

Find out more about Sunsuper’s SuperStream solutions or call 13 11 84 to discuss requirements

SuperStream employer checklist | Australian Taxation Office

Superguide founded by Trish Power, author of Superannuation for Dummies, Super Freedom (a woman’s guide to super), and DIY Super for Dummies.

 

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Beta Facebook Dislike Button

Confession…I’m one of the persons in the Facebook community who has sought to have Facebook introduce a dislike button.

Truthfully for myself, many a time I have wanted to share my sentiment with a writer’s/friend/family/colleague’s post only to find hitting the ‘like’ button inappropriate or inapplicable.

Mark Zuckerberg warmly explains the reasoning behind the beta Facebook Dislike Button project.

Mark states Facebook has finally heard what the community has been asking for and speaks about the intention and differentiation of disliking posts.

Many social media writers however are taking the fear mentality stance of a dislike button.

Utilizing an interpretation that disliking posts will result in lower SEO, marketers are creating content (and no doubt product eventually) based around negative impacts of disliking posts.

Although reading someone’s thoughts can be interesting and thought provoking, it is just a persons opinion of a reality we can either decide to be part of or not.

Isn’t it past time we hit fear on the head?

Personally, I’d rather concentrate on being authentic in my relationships and interactions which means being connected and emotive.

An extension of sharing and connecting in cyber world is having an option to hit the dislike button; for those times when to dislike actually means to agree or empathize.

There you have it, the Facebook Dislike Button is on its way.

Are you that segment of the community who asked for a Facebook Dislike Button?

If so why?

And

Now knowing what the dislike button is purposed for, have your intentions changed?

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Early Stage Venture Capital Partnership

The operation of an Early Stage Venture Capital Limited Partnership 

How it works

A fund registered as an Early Stage Venture Capital Limited Partnership can only make eligible investments.

While it maintains its registration, any returns from those investments are tax free.

An Early Stage Venture Capital Limited Partnership is regulated by the Venture Capital Act 2002 and the Income Tax Assessment Act 1997 and:

  • must self-assess that its activities comply with the legislation
  • submit quarterly and annual activity reports to the Board

The Board, in conjunction with the Australian Tax Office, will:

  • monitor Early Stage Venture Capital Limited Partnerships to assess each fund’s compliance; and
  • may revoke registration where an Early Stage Venture Capital Limited Partnership is found to have contravened the legislation.

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Web Bizness

 

 

 

 

 

 

SOURCE CREDIT

Australian Government Business

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