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CPA Australia interviewed more than 2900 small business owners in eight markets in its annual survey of small businesses in the Asia-Pacific and the findings provide some quick reference points for the DOs and DONT's in growing a small business.

The factors that had the most positive impact on businesses over the past 12 months were strongly   "people-focused" with the categories of  'customer loyalty', 'good staff' and 'improved customer satisfaction' showing a rating of 38% or higher, whether or not the business grew.

However, the businesses that grew strongly were significantly more likely to say that 'improved customer satisfaction', 'improved business strategy' and 'improved business management' had a major positive impact on their business.

Among those small businesses showing significant growth, the focus tended to be on innovation, e-commerce, social media, training and exporting and were more likely to reach out to existing and potential clients through social media and e-newsletters and thereby make it easier for consumers to buy online.

Those businesses were also prepared to invest in staff and increased training as their firms expand.

Following on from the survey, we've prepared a quick list of the DOs and DON'Ts for growing your business:

DO

Innovate - offer new technology and products or services

Ask for outside advice - Consult your financial adviser a couple of times a year

Plan and measure your progress - Map out the future

Hire the best and keep them engaged - Offer stimulating work and a positive culture

Build strong relationships - Work out where yours are and nurture them

 

DON'T

Don't rely on too few customers - reach out through social media

Don't underestimate the importance of effective financial management - Use your accountant and adviser to best advantage

Don't leave contingency planning too late - Plan for the slow times during the good times

Don't ignore what is happening in your market - keep up with technology and production advances

Don't wait too long to get help - Seek assistance from accountants, planners and bankers

 

In short, confident businesses are significantly more likely to undertake the activities that will help them grow over the long term.

 

For a confidential discussion about how your business might benefit from advice, contact us or book a consultation.

How to Get More Done in Less Time

Have you ever spent all day working, but at the end, after at least eight hours of straight desk time, you have nothing to show for it? How is that even possible? And how can you fix it?

By doing something unexpected: working for less time. It sounds backwards, but working less can up your productivity. As more demands are placed on you and your life gets busier, you often compensate by working harder and for longer periods of time. Instead, you need a smarter system that allows you to get more work done per hour. And to do that, you need to remove the activity that clouds your mind and slows you down: multitasking.

The human brain is not built to multitask. Ask someone to walk fast in a straight line and solve a difficult math problem; their walking speed will slow down while they try to calculate the answer.

When you do two things at once, your brain is "context switching." When you stop doing task #1 to start task #2, you have to mentally bookmark what you were doing and where you were to then come back after you finish task #2 to start task #1 again. This confusing chain of events is called a context switch-and just like a computer, your brain slows down when you give it multiple commands at once.

Many people live in a "mixed mode"-they're not fully focused on work, but they're not completely switched off, either.

It slows them down, burns them out and drains them of all their energy.

Signs You're Stuck in Mixed Mode:

1. You work until you're distracted. You work on one task until you get side-tracked, then you start a new task until your attention is diverted again. You have trouble focusing.

2. You are always multitasking and never fully disconnecting. You're at a social dinner but you talk about work, or you're at home with your family but you check emails constantly. You never completely relax and recover, so you feel tired all the time.

3. You don't tend to work on tasks until they are 100 percent complete. By ignoring the mental cues that you need to take a break, you run down your mental energy faster. When your concentration evaporates, you don't have the energy to reboot, so you get stuck in mixed mode.

Our bodies have natural "work and rest" cycles built into them. A runner who runs without rest will damage their body, but a runner who over rests will become weak. The solution? To run and cause a little stress to the body, then have a period of rest where the body recuperates and makes itself stronger.

The secret to personal performance is to work in a similar way. If you work without breaks, you will burn out-mentally and physically. But if you unplug too often, your performance will weaken. So to maximize your output, you need to focus your working time in 90-minute chunks ("focus mode") and follow up with 30-minute breaks ("stop mode").

You should try to get your first "focus mode" completed as early in the day as you can-logging 90 minutes of focused, uninterrupted work first thing will give you something substantial to show with just one session.

Next up will be your first "stop mode"-that 30-minute period where you're completely disconnected from work. The idea is to switch gears, to switch modes. So get away from your desk. Don't even think about work. Unplug and unwind. When you come back to your work, you should feel recharged.

If you run the "focus mode" session four times a day, you'll get six solid hours of work done, which is much better for you than working eight straight hours. And it's definitely better than eight straight hours of being in the "mixed mode."

Your thoughts will feel clearer because you're focused. You'll feel more energetic because you're not wasting your energy in the mixed mode any more. And you'll get more work done in less time.

Getting out in front with your business

Remember when you were excited about running your own business because you got to do the type of work you always wanted to do?  

Have you turned into the night owl who stays up until all hours balancing the books and spreadsheets?  If you want to escape, read on...

 

It's a scenario we often see when a business owner first comes to see us for advice.  They tell us that they absorb some of the expenses of running their own business by handling the accounts themselves, but there is a big cost in taking this approach because the very person who should be out there "front and central" as the face of the business is stuck in the back room with the spreadsheets.  

According to a report based on research from the International Federation of Accountants, using accountants is linked to better performance and higher profits for business. Those business owners who are doing their own accounting are not only adding frustration (and sleepless nights) to their lives but compromising their bottom line profitability as well.

Too often people associate accountants only with tax returns. However, Clarke McEwan prides itself on its business advisory role.  With regular financial "check-ups" about business performance we can analyze your accounts and see trends that might identify opportunities that would otherwise be missed, or prevent risks before they lead to disasters.

 

We have also found our clients can benefit from accounting and tax advice that has proven to work for similar businesses. 

 

Then there is the benefit of another point of view:  once you come on board we know your objectives and we can quickly see when your business practices are getting off track or are no longer aligned with your goals.

 

We also communicate with your staff and managers about how to improve business performance by developing inherent and sustainable values.

Expert analysis of your business leads to better decision-making and helps you to apply your vision more effectively. Global trends in every field have shown that businesses of all sizes, and even in all places, have better performance when using an accountant.    Accountants are experts in financial management, not just taxes, and this expert knowledge can be used to help your business thrive. 

If you are looking for ways to apply your goals and values to your business's financial decisions, we are here to help. Our Business advisory service gives you the advantage of having an expert on-board, while allowing you to focus on your vision for your business.

Talk to Clarke McEwan about how we can increase your performance and help you get out from underneath your spreadsheets.

Spring Cleaning the Finances for a healthier Christmas

While spring is usually associated with a clean-up at home, the co-founder of a payment collection agency believes it is an important time for businesses to do the same and get their finances in shape ahead of the busy Christmas period.

Smell that? It's the seasonal bouquet of spring time, bringing with it the perfume of blooming flowers, the earthy fragrance after rain, and the heady odour of freshly cut grass. It also brings with it the smell of opportunity.

Spring heralds the fact that Christmas is around the corner, and it's the time of year when you need to have capital available to buy more stock, pay seasonal workers' wages, and build up cash reserves before companies shut down for the holidays and recovering debts becomes much harder.

With one in two Australian businesses owed more than $20,000 on overdue invoices, putting effort into this area can make a material difference to your business' bottom line.

Unclogging cash flow entails taking stock of all of the overdue invoices, organising them by due date, and then tackling them one by one – with the oldest invoices receiving your immediate attention.

Remember: as an invoice ages, the cash becomes harder to recover, and the probability of making a collection decreases

As part of this debt spring clean, you'll need to prepare a log of all previous communications undertaken with each client in relation to the debt. This includes the date they received the first bill, who it was addressed to, and any subsequent interactions.

An audit trail of communications will help you counter the top two debtor excuses: "I never got your invoice" and "You should have reminded me to pay."

Each debt needs to be dealt with on a case by case basis. Generally, using different forms of communication as the debt ages is the recommended course of action.

Start with an email reminder two weeks after the invoice due date, with copies of the overdue invoices attached, and give your customer a reasonable time to respond. At this stage, you might agree on a payment plan if your customer is experiencing cash flow problems.

If that doesn't bear any fruit, follow up with a text message one to two weeks later (SMSes have a very high read rate). Otherwise, email a second payment reminder. Even better if debtors can click on a 'Pay Now' button from your invoice or reminder, as it removes friction from the process and enables them to settle the bill instantly.

Two reminders should be plenty in terms of flushing out payment, but if the money still hasn't landed in your bank account, it's time to work the phones.

If you've been dealing with a generic accounts receivable email address rather than a specific person, you'll need to identify the best person to chase at the business.

But what if you've done all of the above, and still haven't had any luck?

The next step is sending a debt collection letter, also known as a letter of demand. This is considered a more formal follow-up, and is typically sent with your business' letterhead.

Recently, the acceptable time frame for sending a debt collection letter has reduced from 90 days to 60 days from when the invoice is due.

You may also want to consider outsourcing collection of the debt to a debt collection agency. This agency works as an agent of your business to collect overdue debts, and is typically paid a fee or percentage of the total amount collected.

Whether to go down this route depends on a number of factors. If it's come to the point that your business is running out of cash, then calling in the professionals may well be a worthwhile investment, despite the fees involved. The beauty of a debt collection agency is that it has the resources to keep the ball rolling when your own in-house collections have stalled.

Another good reason to hire a debt collection agency is that they're one step removed from your business. While personal relationships with suppliers and customers can sometimes make it difficult to have that hard conversation regarding money, external agencies don't have that issue.

Finally, if your debtors have gone into hiding, and aren't returning phone calls or responding to letters and emails, debt collection agencies have a number of means at their disposal for tracking people down.

Ultimately, prevention is better than the cure

Once you've gone through your cash flow spring clean, it's worth ensuring that you have an effective debt collection strategy in place to stop overdue invoices spiraling out of control.

A pre-planned strategy will include your process for following up overdue debts, your time frame to escalate to management, and the third-party agencies (like legal and debt collection agencies) that you will call on as needed.

If this is applied consistently with every customer, it sends the message that your accounts receivable house is in order, and reduces the likelihood that debtors will drag their feet when it comes to future invoices.

Business Identity Theft

Individuals have long been warned about personal identity theft and advised to keep information such as passwords, their tax file number and bank account details as closely guarded secrets.

However, the ATO has recently warned that thieves can target unsuspecting small businesses and the information that is stolen can be used to commit various crimes.

Once a business identity is stolen it may be used to commit tax fraud, create other fake business entities, lodge fraudulent GST claims, and take out loans.  The identity thieves might then have access to a business entity's information, and through this, gain the opportunity to further employee personal information, tax file numbers, bank details from payroll data, super fund details and personal addresses.

The ATO says considerable time and effort is required to restore a business's identity, amend credit profiles and sort out financial arrangements, so the best protection is prevention.

The following steps be used to protect your business  from identity theft (and of course you personally as well):

  1. secure your business files and employee information when these are not in use
  2. regularly change all passwords (and don't use passwords that may be easily guessed, such as the business name itself)
  3. ensure that the business's principal and staff log out of systems and lock computers when they are not in use
  4. make sure that your computers and other devices have up-to-date security and anti-virus software.  If in doubt, consult an IT expert.  Clarke McEwan recommends that the cost of a small  IT consulting fee may significantly save you the repercussions of identity theft.

If you are concerned that your identity may have been compromised, the ATO would like to hear about it (Call the Client Identity Support Centre on 1800 467 033).

 

Why Doctors Should Think about Outsourcing the Bookkeeping part of their Business

Running a one-man-band type of business sounds great on paper, because if you do everything yourself, you don't need to pay anyone. That's the main reason why so many doctors choose that kind of approach when it comes to running their offices.

But ... is this path really the best one to take considering that being a doctor of medicine typically doesn't involve any kind of business training

 

Doctors tend to be rather dedicated people, that goes without saying. The training process that takes place before they receive their licenses can be long and tedious, and it takes a substantial amount of willpower to make it that far. Regardless of that, however, understanding medicine is only one aspect of the business that doctors need to know.

Truth be told, it's hard to be an expert in more than one field, and running a successful business typically requires you to either know multiple things, or start outsourcing the tasks you're simply running out of time to do or lack the skills they require. Luckily, hiring someone else to do them for you is the answer to both of these situations.

Expenses don't need to be sky-high, especially if you do your due diligence and search the market to find an employee who has all the needed skills and is willing to share them for a reasonable price. And by hiring someone to take care of the tedious part of your business like bookkeeping, finances, and dealing with insurance companies, you will be able to devote more time to doing the things you love, and your patients will appreciate it as well.

Given the fact that there are only a limited amount of hours in each working day, it's important to manage them wisely. If you're trying to tackle too many things at once, especially those that don't exactly fall under your main field of expertise, how are you going to manage them all?    Furthermore, things such as bookkeeping and finances really have little to do with the field of medicine.  It's not realistic to expect a doctor to be proficient at both. But by sacrificing just a little bit of monthly profits by hiring an employee who's going to handle it all for you, you're not only gaining additional time for yourself, but also getting a massive stress relief.

Bookkeeping can quickly get very technical, and trying to do it all yourself (and doing it incorrectly as a result) can open you up to several penalties if the inspection decides to visit your medical practice one day. You want to avoid this at all costs, because these kinds of actions against you can quickly end up costing you a lot of money, likely much more than you would have paid for your employees in the entire year.

Doctor's are better off outsourcing elements of the business, like bookkeeping and finances.  Not sure where to begin?  Call us at Clarke McEwan and we will put you in touch with a qualified tax bookkeeper who knows the ropes.

Financial Planning for Doctors

Financial planners are often the first point of contact for doctors seeking advice on investment.  A specialist medical financial adviser has the expertise to help you achieve your goals and objectives by tailoring strategies to specifically address your needs.

At Clarke McEwan we have the knowledge and skills to provide you with assistance and guidance on:

  • Education – By building your knowledge and confidence we can help you achieve a better understanding of your investments and other key financial matters.
  • Budgeting – Part of our strategies are to identify opportunities to manage debt and save money. For a review of your finances and how these measure up, contact us now.
  • Estate planning – We will also work proactively with our network of estate planning professionals to show you how best to structure your assets to benefit your estate.
  • Insurance – One of our most sought after services is assistance is in guiding clients through the maze of insurance options available to protect you, your family and your assets in the event of illness, injury, disability or death.
  • Retirement planning – helping you find answers to those complex questions such as: "Will I be able to retire comfortably now?"  "How much money do I need to retire?" and "What do I need to do before I retire?"

A well-qualified financial planner for doctors can help alleviate the worry and stress associated with your finances, leaving you with more time to enjoy life. To book an obligation free appointment about financial advice click here or call Clarke McEwan on 07 5475 4300, and our specialist financial advisers will begin to assist you in planning a better future for you and your family.

The risks of dropping personal insurance

People often take out personal insurance early in their working career, but if it is done without adequate advice and knowledge, a significant proportion will then drop their coverage later in life at the very time they are most likely to need it.

When paying off debt, funding lifestyle needs and saving for retirement are competing with the cost of holding personal insurance, the former are often treated as a priority, particularly as the cost of some personal insurance premiums rises substantially in later years.

Many only realise in hindsight that different personal insurance planning decisions made earlier in life would have made a significant financial difference.

Long-term understanding of premiums

In the early years of a working life, understanding how best to fund personal insurance can significantly affect the ability to retain cover while still being able to save for a quality retirement, or meet other expenses.

The two most common premium-funding options are level premiums and stepped premiums.

With a level premium, the cost of the cover remains the same of over the lifetime of the policy except for CPI increases in cover.

With a stepped premium, the cost of cover starts lower than level premium, however the rates increase each year based on the insured person's age plus CPI increases in cover.

Under either funding option, the insurer can also increase the rate charged over and above the annual rate change.

While a level premium seems more expensive than a stepped premium when first starting out, a long-term view shows a significant difference over the life of a policy.

For instance, as the table below shows, the year-on-year increase in a stepped premium policy in the early years is not as steep as in later years.

Average year-on-year increases for stepped insurance premiums, nil indexation

 

       (TPD = Total and Permanent Disability, IP = Income Protection)

In addition, the percentage increases will have more of an impact at an older age when the premiums are higher. For example, a 5% increase on a $100 per month premium is $5, which is more palatable than a 15% increase on $600 per month, or $90. What's more, with a 15% year-on-year increase, the premiums will double every five years.

The total stepped premiums for a 40-year-old male taking out $1,000,000 Life and TPD cover (with nil CPI increases) until age 65 will cost $266,249 while level premiums will cost only $74,461.

The following chart illustrates graphically the difference in cost between stepped and level premiums over the lifetime of the policy. After age 52, the age when people are most likely to need cover, the cost of the stepped premium rises dramatically.

 As a general rule, for a 40-year-old with Life and TPD cover for $1,000,000, not indexed to inflation, it will take eight years for stepped premiums to catch up to level premiums, and another five years on top of that to reach the break-even cumulative point.

For example, a specific insurer provides this table although the general principles apply.

 

 

If all cover is held to age 65, the savings on a level premium can be hundreds of thousands of dollars.

Minimising the burden of insurance policies

Steps can be taken to ensure insurances are retained that might otherwise become such a financial burden that the cover is reduced or given up entirely when most needed. They include:

  • Life cover and TPD – in early years with a young family, ongoing income and mortgage debt is higher than it is as children get older and debt is paid down.

Solution: place a portion of cover on stepped premiums and maintain for 15–20 years, with the remainder on a level premium ensuring this cover remains affordable in later years.

  • Income protection – generally the cover will be required across an entire working life.

Solution: maintain a level premium until policy expiry at either age 65 or 70.

  • Trauma cover – in the early years of greater family financial commitments, cover may need to be higher than in later years.

Solution: place a portion of the cover on stepped premiums to manage cash flow with some cover on level premiums for the longer term.

Risks with level premiums

Level premiums offer long-term financial benefits but other factors must be considered:

  • Product may become obsolete: the insured person is locked in with a single insurer and product series and could be left in an old or closed product. Medical definitions and premium rates for the policy may not be up to date with the current market.
  • Rates are not guaranteed: Insurers always reserve the right to increase base premium rates at any time (this is applicable under both stepped and level options).
  • Inflation cover can change the original premium rate: If inflation-proof cover is chosen with CPI increases in cover each year, some insurers will charge the original level premium rate when the policy commenced but a new level premium rate for each age range for the increased portion of cover.

Nevertheless, forward planning of insurances and a sensible approach of using a blend of stepped and level premiums could have good financial outcomes.

When obtaining advice it is important to be furnished with the complete illustration of the stepped and levels options of the insurer to enable an understanding of the long-term overall cost.

Insurance discussions with adult working children

As people grow older and their children make their own way in life, they do not give much thought to the impact as a parent if the child became disabled due to sickness or accident. What often happens is the parent steps in to support the child. The financial burden could be huge and impact significantly on retirement savings.

Increasingly, we are seeing parents step in and fund the personal insurances for their adult children, at least in the early years. If a 25-year-old is earning $50,000 a year, the income could be insured for as little as $40 per month. In the event of a disability, if the benefit period was to age 65, they could receive $2,800,000 with claims indexation of 3%. This is a small price to pay to ensure retirement assets are protected, and the child can take over the premium payments at a later stage.

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Intellectual Property

Your Intellectual Property, known as "IP" is an important asset in today's knowledge economy that needs to be strategically managed.

 

Increasingly, Australian businesses are realising that intangible assets are often more valuable than their physical assets.

Protecting and managing your IP is important and is often the difference between success and failure in your market. 

So, what can be considered IP?

According to IP Australia, it is defined as your creative and intellectual output or in other words, "the property of your mind or proprietary knowledge.  Basically, the productive new ideas you create. It can be an invention, trade mark, design, brand, or the application of your idea."

In fact, your IP assets could be vital to the success of your business which means that any business owner should periodically review what might make up those assets and then take appropriate steps to secure ownership.

Cost of protecting IP

Any method to reduce the cost of IP needs to be balanced against the value of proper protection. There is a real danger that short-cutting protection measures will result in the IP not being properly protected. There are various other methods of protecting your IP but necessarily they do not rely upon the statutory methods of registration. For example, confidential information, unregistered trademarks and reliance upon fiduciary obligations, which invariably rely upon a court protecting the unregistered rights of the owner. However, these unregistered rights will always be subject to another party's registered rights.

If you are unable to justify the preliminary costs, then it's feasible that the IP has no immediate or future value to you and registration is unwarranted. This can be compared to taking out life insurance -- you hope you will never have to access life insurance but it's there to provide protection against unforeseen events. A similar attitude should be applied to the protection of your IP.

At Clarke McEwan we have access to resources that have been developed in consultation with IP Australia.  IP Australia is the Australian Government agency that administers intellectual property rights and legislation relating to patents, trade marks, designs and the like.

If you have concerns that you may have valuable IP that is not adequately protected under Australian Law, talk to us at  Clarke McEwan for more advice.

Employee or Contractor ? Getting it Right

It is crucial to understand the differences between employees and contractors because as an employer, you will be held responsible for getting it right.

 

Coping with the typical ebbs and flows of running a small business sometimes requires an extra pair of hands. 

This has seen independent contractor appointments become a frequent alternative to traditional Pay as You Go (PAYG) employment, particularly when specialist skills cannot be readily obtained by recruiting full- or part-time employees. 

However, it is important to not rush in and hire someone without taking account of the many factors that under the Independent Contractors Act 2006 and Fair Work Act 2009 differentiate an employee from a contractor. Any such arrangements are likely to be scrutinised by industry watchdog the Fair Work Ombudsman. 

CPA Australia points out that there are dangers in engaging an individual as a contractor without properly understanding relevant legislation. You may find the person is considered an employee at law, which involves a range of legal obligations – and liabilities – if you get it wrong. 

According to the Ombudsman, the Fair Work Act contains provisions to protect the rights and entitlements of independent contractors. 

Although its website explains the factors that may differentiate an employee from an independent contractor, there is no single indicator. 

"Each determination is based on the individual merits of the work arrangement in place," the information sheet states. "Courts always look at the totality of the relationship between the parties when determining the status of a person's employment."

Common indicators that may help to ascertain a person's employment status include the degree of control they have over work performed; whether hours are standard or set by the employer (as opposed to negotiation), expectations from work performed (i.e. ongoing or for a specific task); superannuation entitlements; provision of tools and equipment (by the employer or provider); method of payment (regular or on completion of a contract or project); and if paid leave is accrued. 

Don't rush in

It's not uncommon for businesses that fail to fully appreciate the key distinctions between the two working arrangements to find themselves in hot water – and the risk is particularly high for small accounting practices that need to deal with intense periods such as end of year tax reporting.

Smaller firms and solo operators often outsource work without properly recording the terms of engagement in writing. Should a dispute arise about whether a provider was a contractor or employee – or there is disagreement between the parties about the terms of the contract – it could ultimately lead to litigation. 

Therefore, it is imperative all terms of engagement are recorded in a written contract before the start of an arrangement, and that both parties sign it. Even if you have already engaged the person, it's not too late to enter into a written contract and acknowledge that it applies retrospectively.

Professional services firm KPMG released a report last year that cited a famous Federal Court of Australia remark; namely that contracting parties "cannot create something which has every feature of a rooster, but call it a duck and insist that everybody else recognise it as a duck."

The report, Engaging contractors: time to get your ducks in a row, explains that engaging independent contractors can have unforeseen employment law and tax consequences if the relationship has features similar to a PAYG arrangement. 

In cases where liability is proven, company directors will be held accountable, the report warns. 

Even so, KPMG senior manager Paul Hum acknowledges that working out whether an individual is an employee or contractor is not necessarily straight-forward. 

"Unless there's a sudden significant change in the arrangement between engaging parties, it's extremely difficult to draw a line in the sand at a particular point in time," Hum says.

"Our advice to businesses typically centres on developing robust procedures and policies to identify and prevent risky arrangements upfront. If an individual is not identified upfront as being a risk, the risk should be reassessed each time the arrangement is extended or changed." 

The ramifications of inappropriately categorising an employee are similarly complex, he adds.

"Employers have to comply with a whole range of different obligations which don't apply to contractor arrangements. Excluding penalties and interest, this could be anywhere between 15 and 30 per cent of amounts already paid." 

In the event a contractor is deemed to have actually been an employee, such obligations include fringe benefits tax (FBT) and the superannuation guarantee charge (SGC) to the Australian Taxation Office (ATO), payroll tax to revenue offices, workers compensation to insurers or relevant authorities, back pay (if award conditions were not met), and leave entitlements, Hum explains.

What a sham

Also, be warned that the Fair Work Ombudsman interprets sham contracting arrangements as any attempt by an employer to deliberately disguise an employment relationship as an independent contracting arrangement – usually to avoid responsibility for employee entitlements.

Under the sham contracting provisions of the Fair Work Act, an employer cannot:

  • dismiss or threaten to dismiss an employee for the purpose of engaging them as an independent contractor; or
  • make a knowingly false statement to persuade or influence an employee to become an independent contractor.

Fair Work Inspectors can seek penalties for contraventions of sham contracting arrangements or coercing a party to enter into a reform opt-in agreement. The courts may also impose a maximum penalty of $51,000 per contravention. 

If you have any uncertainty as to whether your contractors are actually employees, contact us at Clarke McEwan.

 


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