Monthly Archive: November 2018

Why You Should Set Up A Retirement Plan For Your Employees?

A pension plan is one of the most important fringe benefits an employer can offer to its employees. Most employers believe that jobseekers and employees are primarily driven by compensation and other workplace benefits and they often forget that employees also consider the level of long term financial stability when looking for and accepting job offers. A pension plan is one that ensures financial security even after retirement and having one is a smart way of attracting and taking care of one of your most important assets- your employees. It is a form of deferred pay that can secure an employee’s decision to work for your organization or even stay in it. Therefore, if you don’t already have a pension plan set up for your employees, here are some reasons why you should reconsider; Go here  for more information about smsf audit.  

Reduce your tax bill

Let’s all admit it, taxes are a burden. But what if setting up a retirement plan helped you reduce your tax bill? Sounds too good to be true? Well, it isn’t. Businesses with retirement plans get a tax deduction when they contribute to their employees’ retirement funds. It is a way of encouraging organizations to set up retirement savings accounts by allowing businesses to reduce its tax burden by deducting its annual contributions to its employee retirement plan from income taxes. However, to ensure smooth implementation of your company’s pension plan, it’s important that you conduct an annual superannuation audit to ensure compliance with superannuation regulations. Creating a retirement plan is a great of rewarding your employees for their service while reducing the tax bill of your business.

Retaining the best talent

Employees might be more flexible with the benefits offered at the start of their career but with time, they tend to contemplate on the level of financial stability offered by their job. Employees will look for positions or organizations that offer them with a stable retirement plan if they aren’t already being offered one. A pension plan is an important, yet rare, fringe benefit that all employees appreciate as it’s a way to make sure that they can live comfortably after retirement. Most employers consider pension plans to be too expensive and difficult to maintain but, not having a pension plan can be a contributing factor to high employee turnover rates. Not every organization offers a pension plan but in doing so, you will stand out as an employer and be able to attract and secure the best talent in the industry.

Guaranteed payout

The payment from a pension fund is a guaranteed one as compared to a 401k which is dependent on the stock market. The pension plan is formulated based on the person’s average salary and the number of years he/she has worked at the company and is therefore a safe income stream for all your employees. The company carries the responsibility of setting aside money for each employee’s pension plan and when an employee retires from work, he/she receives the promised amount.

The Main Advantages Of Hiring A Broker When Getting A Loan

Whether it be for personal reasons or even for commercial reason, you might be in the need of some extra cash. Having some extra cash to you would certainly make your projects much easier. However, there are common instances when you won’t be able to get a loan. Even though you might not be able to directly apply for a loan, there are other options that are available for you. One of the best choices that you have is to hire mortgage broker in Sunshine Coast. The services of these professionals certainly come with a number of benefits other than actually giving you the chance to get done with your work. Before you hire a broker, it is recommended that you weigh the pros and the cons. Here are the advantages of hiring a broker when getting a loan:

You Will Gain the Needed Advice

Whether it is your first time getting a loan or not, there would a lot of questions that you want to be clear. Whether it be the responsibilities that come to with the loan, the loan that is suitable for you, you name it, these brokers would surely guide you through it all. You will create a mutual understanding with the broker and how the process goes. Surely, they will help you come to the understanding that you will have the broker’s super throughout the process. Getting a mortgage broker would also help you with the mortgage and would make your life so much easier.`

They are Skilled in the Field

If you are on your own in getting the loan, it would make you go through a lot of complications. However, when you have these professional help, you will be guided through the entire process. They will help you choose the cheaper tracker or mortgages that come with fixed rates. The advice of these professionals would help you make the smartest decisions. That is not all, with their help and guidance, even you can gain experience into how things work in the field as well.

They are Reliable

When you are handling finances, you have to be careful. When you are getting help, you should always have a guarantee of reliability. These professionals would do their best to find the best mortgage for your needs. That is not all, the services that they provide would always be unbiased. Once you have hired a professional with high skills, there is nothing for you to worry about as you are given the best guarantee throughout the entire process.