As technology becomes more and more important for successful business operations and the GDPR promises more strict penalties for lax data security, the value of a strong cyber insurance will drastically continue to grow more and more in the future. So, regardless of the size of your business, industry, and location, the nature of the modern business world exposes you to cyber-threats and, in worst case scenario, attacks which may not only disrupt your operations and threaten your finances but may also tarnish your reputation. For that very reason, it is of the essence to give cyber insurance some serious consideration. Here are the 3 steps to take in order to make the right decision regarding your cyber insurance.
It’s part of human nature to save for rainy days, even though there are also those of us who enjoy the thrill of going on shopping sprees more often than not. When one understands finances generally, one is more prone to saving for future days, and that includes days beyond retirement. Nowadays, the future doesn’t seem like something to be feared, not when you have the choice of using funds to gather up money for your days as a pensioner.
Australia is known for the SMSF, and investments and borrowings are still on the rise which shows just how much they become part of people’s lives. Whether you already have your own superannuation fund, or are thinking of taking this financial step, you have to remember there is a set of rules you have to comply with to manage your fund according to the ATO requirements. One of those rules is having your fund and all the related accounts and investment documents audited per year by a professional auditor, even if you prepare your own accounts and tax return, acting as the accountant.
The person carrying out the audit mustn’t be related to the trustees and has to have the experience and knowledge. If you want to be able to carry this out properly and not breach any rule, ending up with a fine to pay, there’s an SMSF audit checklist you have to complete. The first step of course is to hire an auditor. If you want to make sure it’s a reliable professional, you can check to see if a particular auditor is listed as certified among the registered ASIC (Australian Securities and Investments Commission) auditors. As soon as you’ve found your auditor, you’d be required to provide information about your transactions from the previous year.
A typical audit process covers up an Smsf audit checklist, and is divided in two segments, one that’s the part of financial report audit, the other compliance report audit. The financial report audit comprises of several necessary documents that you’d have to provide the auditor with, starting from the audit engagement letter trustees have to sign, as well as the trustee representation letter, then complete annual tax return, balance sheet, and income and member statements, whereas for the compliance report you’d need copies of all the permanent SMSF files (signed trust deed, investment strategy, minutes of meetings, consent to act as Trustee and Member applications).
The purpose of the audit is to give you a notion as to whether there’s something in your fund’s strategy that needs to be changed, so it’s at your benefit. One thing you can learn from managing your SMSF is you have to be organised so consider that another step you must take care of. Best way to prepare for your audit is to collect all your documentation prior to the meeting with the auditor, from documents on investment and bonds, to receipts from insurance payouts, records of rent and loans.
You never know when the auditor might want to look into certain matters more thoroughly. You can’t hide anything from your auditor, as it’s against the law, so make sure you show them everything. If by any chance you’ve breached a rule, the auditor is obliged to submit the findings to the ASIC and ATO. As long as you act accordingly to the rules, you can be sure your SMSF would work in your interest.
Whether you want to purse a new career path or maybe you are making the very important decision on what will be your first career, becoming a mortgage broker can be the right step towards reaching your goals and finding your place in the business world. The mortgage broker business has been on the rise in Australia, especially in recent years. It is a well-known fact that bank loans are a great way for people to achieve their financial requirements and this is where brokers provide the necessary guidance during the whole loan process. Pursuing a mortgage broker career is one exciting experience that enables you to invest in your future and have a prospective job in the the filed of finance and mortgage.
Before we discuss the many advantages that come with this amazing career, let’s first discuss what is the main role of any mortgage broker. Since they represent the connection between borrowers and lenders, mortgage brokers have the knowledge to arrange borrowers get the necessary finances, as well as assist investors with their mortgage investments. Great skills for communication is one of the most important qualities that a broker should have. You should be able to understand the needs of your clients and provide them with the best solution for their specific financial conditions. Excellent work ethic and dedication are the two essential things you will need to build a successful career in the field, and the ultimate reward for your hard work are of course all the opportunities you will get. Here are some of the benefits you will get from pursuing a mortgage broker career.
Boost your earnings
One of the biggest advantages of being a broker is that you get the opportunity to increase your income considerably. There are basically two different ways in which mortgage brokers make their earnings. A large amount of the earnings represents a direct commission that you will get once the loan you have arranged is signed. You will also receive a trailing commission every month based on the loans you have arranged in the previous moths and years.
Help people achieve their goals
There is noting more rewarding than helping people reach their goals and this is a profession that allows you to do just that. You will be able to help your customers find the best loan option for their needs. From home and business loans to debtor finance and reverse, mortgage brokers can efficiently arrange many different types of loans for their clients.
Exciting and flexible career
As a mortgage broker you will have the opportunity to learn the secrets of successful finance arrangements and understand how the finance industry works. Furthermore, you can have a practical work schedule as well. Brokers have the option to choose their working hours and from where they will work, depending on their specific requirements and goals.
You’re probably familiar with the option of investing your savings in a Self-Managed Super Fund and you simply know it would be a shame not to take advantage of the opportunity. A very short introduction to those who still haven’t heard of it: it’s the type of fund where the members are also the trustees of it and run the fund for their own benefit. Also, the trustees themselves are fully responsible for complying the work of the fund with the ATO (Australian Taxation Office) regulations and other applying laws.
Self-managed super funds or SMSF are one of the largest and fastest growing segments of the superannuation industry. Today nearly 1 million Australians are managing over 450 billion dollars of their retirement savings through an SMSF. So if you want to save enough money for a comfortable retirement, you should take some time to learn more about SMSF.
Okay rich Aussies willing to finally do a smart investment and ensure their retirement future - there are a number of investments you can put your money in, but sure you would opt for the most lucrative one, right? While there is no way to predict the stock market with precision (and any market for that matter) investing in property is somehow among the safest options: even if you don't really use the house or apartment you buy, you can always rent it and receive a monthly income which can contribute to the diversification of your assets even more.