Archive for Business Tips

Private Owned Vehicles In Singapore Must Have Decals

Starting the first day of July this year, all private owned vehicles in Singapore must display the required decals on the windscreens of their cars.

The decal display is made of plastic and is 14 cm by 10 cm in size. This is approximately two times a road tax disc’s size. The decals are required to be placed on the front windscreen as well as on the rear.

The decal cannot be tampered with because police officers and authorities will be able to distinguish a decal that has been removed and put back in place.

According to LTA or Land Transport Authority, the requirement of the decals is done in order for registered cars under private ownership to be easily recognized. Authorities will be able to conduct any search and questioning for vehicles that are utilized as chauffeured services or hired in any way by hailing passengers on the road.

Owners of private vehicles should register their car before February 28 in order to get the tampered-evident decals for free. After that date, registering owners will have to pay a fee of $20 for a pair of decals.

For the front windscreen, the decal must be placed at the upper right corner while on the rear windscreen the decal must be positioned at the upper left corner.

Owners of private vehicles may not get a copy of their decals from authorized locations only – Uber, Grab affixing centers, STA inspection centers and Vicom/JIC inspection centers. They will also be the one to affix the decals on the cars.

Private vehicles without the decals will be violating the Road Traffic Act though the agency hasn’t released a guideline regarding the penalties yet.

During regular vehicle inspection, the decals will be part of the car which will be inspected as well. Road tax will not be subject for renewal unless owners have acquired their decals.

All owners of registered private vehicles have already been notified via mail and the number is approximately around 30,000.

Car signs in Sydney are also a common thing though most vehicle wrapping covers the entire vehicle unlike the decals which are quite small and can be passed off as a parking sticker.

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.

An Accountant’s Guide To Surviving A Tax Investigation

Anyone whose financial dealings come under a tax inspector’s scrutiny needs to prepare for an emotional challenge. Denial and terror are the usual reactions followed by regret and anger.

Daniel Dover, a partner at BDO as well as a co-author of “HMRC – Her Majesty’s Roller Coaster: Hints on How to Survive a Tax Investigation,” shares his guide for surviving a tax investigation.

To stay calm

Tax is very complicated. It is important to stay calm and to find help from an expert and experienced adviser who knows how to resolve investigations and has information on how an auditor operates.

To not destroy any evidence

HMRC will assume that a person is hiding something when an evidence is destroyed. One should be prepared to secure some replacements. Then, he or she needs to work with his or her adviser to fill the gaps and do reasonable estimates.

To seek clarification

It is best to keep asking when there are certain points not understood. HMRC urges the tax inspectors to work together with the parties involved.

To not under-deliver and not over-promise

When it is impossible to meet a set deadline, it is helpful to talk to the Revenue, to describe the situation and to agree on a new time scale. When deadlines are missed, it increases penalties and results to formal information demands. When payments are needed, the tax man should be informed right away as missing the pre-agreed payments results in serious consequences.

To not assume

The Revenue has access to big amounts of data and will be able to get more. If there is an error in a return, do not assume that is all they are interested in as they will also want to check the other years.

To be honest

Full disclosure of all needed facts and an explanation on things going wrong is essential.

To be a step ahead

Each draft response should be read carefully. Answer a question and give supporting documents during a response.

Conclusion

Tax laws and legislations are complex matters that require knowledge and skills to understand. It is helpful for an average taxpayer to talk to audit insurance brokers in order to equip himself or herself with insurance especially when audit cases need to be defended. An insurance will cover those costs risks.

 

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.

Inbound Marketing Statistics Every Businessman Should Know

If you are in the field of business or entrepreneurship, you might be familiar with inbound marketing. There are many who have tried the method and found it effective, there are those who are yet to try with a burning question in mind, will it increase my revenue and not just look good in theory?

This is what many businessmen are after, the bigger picture. There are many things that one should know about inbound marketing but the most important is that you know how this method will help your business by making an impact. Here are three of the most important statistics involving inbound marketing.

Inbound campaigns result to higher return of investment (ROI). Every type of marketing requires some form of spending and this is what makes inbound marketing the most special among them. Companies are able to have higher return of investment. In fact, according to statistics they are able to achieve three times more before inbound marketing. If you are aiming to get the ROI you dream of, buying an ad space from the bus stop company will not cut it. Keep in mind that inbound marketing is good to be paired with outbound marketing though.

Conversion rate is higher. If you are getting leads then that is good news but what CEO would like to see is those leads filling up the form that are provided on the website. The main focus of businesses is not the leads but the actual customers that came from those leads. If sales is to increase, it will follow that revenue will also increase. According to statistics, around 42.2 per cent of companies that are employing inbound marketing have experienced an increase in their conversion rate with regards to lead to sales.

Marketing will help businesses save money. Many might question the investment they are making as they get higher sales as well as an increase in ROI. According to statistics, if companies are to invest more in inbound marketing rather than outbound marketing, they are able to save an average of $20,000 every year. This is a huge amount if you take into consideration the positive effect that inbound marketing is doing for your revenue. To achieve these statistics on your own company, hire crewdo.

 

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.

Easy Steps On Starting A Small Business For Perth Electricians

Perth electricians can expect employment opportunities to grow by approximately 12% between 2008 and 2018. Increased building construction will require electrical work and electrical systems need to be upgraded to present electrical codes. Buildings will require the installation of new energy saving systems. Finally, Perth electricians are expected to replace those who will be retiring anytime soon.

How to start a small electrical business

1. Choose a structure for your business with the help of a Certified Public Accountant (CPA) who is knowledgeable with small business services.

2. A business license must be obtained including other permits that may be required in Perth.

3. A commercial insurance company can be consulted regarding business liability and professional liability insurance.

4. It also important to register with the tax department so that the right taxes will be paid.

5. Prior to starting with the business, Perth electricians must have state-issued licenses that are issued to different classes of electricians and electrical contractors according to the tasks that they can perform.

6. Even if you will spending more time providing service to customer, it is important to establish an office that will serve as a base to store electrical supplies and equipment and where paperwork can be accomplished. Even if mobile phones are now the trend, it does not hurt to have a landline.

7. Cultivating commercial prospects is critical to the success of a business. Contact general contractors and building engineers for potential opportunities in new home constructions or remodeling projects.

8. Build good relationships with real estate agents in Perth and other neighboring towns and cities for the electrical phase of remodeling and renovation projects. Electrical work is often necessary for homes in preparation for the real market. Home buyers usually require inspections and your services will be important to ensure that the electrical system complies with safety regulations.

9. To attract potential residential and commercial customers, offer a discount on the electrical project fees for a specific time period.

10. Make your business known by posting advertisements in home improvements magazines and local newspapers. Make sure you have a website because most consumers nowadays prefer to search for products and services online.

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.

Facts Regarding Actuarial Certificates

To obtain an actuarial certificate, there are things that should be taken into consideration. After getting one, there is another matter which concerns tax compliance and how to maintain it. SMSFs’ deducted by various things but the biggest single contributor to this deduction is the ECPI or exempt current pension income. For SMSFs to claim this substantial deduction, actuarial certificates are needed. By now, it is known to many trustees that tax compliance must be done right and properly if they don’t want to get in to trouble. Things must be accurate and tax-exempt income must not be overstated.

Actuarial certificates are not needed when claiming ECPI especially if the funds are already in the pension phase but there are unique cases where these certifications are required by the ATO. Members of the SMSF who transitioned in the pension phase in a certain financial year may claim an income tax exemption depending on the assets that is connected with the pension liabilities. Trustees under SMSF that are almost into retirement may benefit when moving to retirement pensions in order to add to their current income while the fund is still being contributed by them. Certification is important especially in funding where there are members in the pension phase and also in the accumulation. If an asset is not the only source of pension funds then a part of the income can still be included as an exemption from taxes.

The actuary will make a summary of calculation based on various matters such as the financial information regarding the fund, the contributions size and the timing, payments for pension, withdrawals of the lump sum, commutations and the commencement of the pension in order to point out what part of the fund are the pension liabilities. Exemption may be claimed as long as it can be proven that the pension fund meets the minimum standard for pension.

An actuary must know the exact information regarding fund’s transaction before applying for an actuarial certificate. ATO has already expressed its views regarding ECPI deduction and it was fully scrutinized since last year 2014 to make sure all claims are accurate.

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.

Parking Lot Drain Cleaning In Miami & How It Is Done

Every year, cities that are in coastal areas often face the anguish of having to contend with constant flooding in some areas.

Miami is one of the cities that try their best to prevent several damages caused by floods as much as possible. Rain often showers all the way through the year around the entire South Florida area and about 62 inches of rainfall pours over annually.

Rainfall pours the heaviest in June and all throughout October, and this is also the time where the teeming of catch basins take place, storm drain cleaning is heavily needed, flooding in streets, sidewalks and parking lots take place.

There are plenty of ways to be able to avoid severe damages in buildings and the like. One way of doing so is to ensure that the drainage systems are functioning as it should be.

Drainage systems should always be scoured and preserved frequently. Catch basin and professional parking lot drain cleaning are key factors in diminishing extreme damage to several properties (private or public) and lessen the chance of having to spend a lot of money for repairs. Time and excessive amounts of money will be spared if parking lot drain cleaning is done regularly.

  • It is practical to make one’s self acquainted with the kinds of drains and terms related to it. There are other terms for parking lot drain and these are French drain, the catch basin and storm drain cleaning.
  • The French drain is a drain that is full of rocks that sift the bigger remains out of the water and into the pipes. This is constructed at either an exterior or subversive passageway point.
  • The catch basin is built to pump out additional water from a street or parking lot and has rubbles that will not run promptly all the way through the drainage tubes.
  • And lastly, storm drain cleaning is a type of drain that takes off spare ground and rainfall water from parking lots, sidewalks and streets.

Because of the constant flooding that occur on a yearly basis, it is highly recommended to do parking lot draining preferably every two years.

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.

Sustainable Solutions To Reduce The Impact Of Packaging Materials To The Environment

With the approaching holiday season, it is expected that online shopping will increase and so with the amount of packaging like shipping boxes. According to eMarketer the projected growth in online sales is expected at 20.1% or $1.5 trillion. Aside from the shipping boxes, there is plastic and cellophane wrapping as well as paper wrapping or foam packaging meant as protection for the contents. It is not unusual for all these packaging products to end up in the landfills which according to Environmental Protection Agency (EPA) reached a staggering 75.2 million tons of total solid waste generated by the United States alone in 2012.

The concern on packaging waste

Companies and entrepreneurs are finding ways to tackle the growing problem of packaging waste. One of the options is waste management through recycling which is making progress with 51.5% or 38.75 million tons composted in 2012. This represents a big increase from the figures of previous years. However, the option of recycling will only work if the consumer is willing to do his part. On the other hand, there are types of packaging materials that cannot be recycled effectively like mixed and hybrid products. Metal which is interwoven with fiber and plastic foam have practically no value in the recycling stream since they are intended only for single use. Packaging that includes tulle, baskets, cellophane bags, wine bags and burlap bags are easily recyclable and are suggested for shipping.

Social media and waste management

Dell is one of the companies that received feedback from social media to reduce its wasteful and excessive packaging using non-recyclable shipping boxes. People care about proper waste management and they are voicing out their criticisms through social media. To address the concerns of consumers, Dell has reduced the sizes of boxes by about 10% and developed bamboo cushioning that can be recycled into paper to replace foam. Bamboo cushioning has eliminated 20 pounds of packaging to save at least $18m on energy, waste, transportation and production costs. By 2020, Dell expects to scale its efforts at sustainable packaging to 100% compared to 60% today. These innovative packaging solutions should be global in scope and not limited to North America and Western Europe since Asia-Pacific is an emerging market for online shopping.

About Patient Atcho

Patient Atcho started with The eBeninois Mag and his vision to have an avenue where all the different business industries will meet. Admit it or not, different industries have their own focus.