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Bank commission reforms hit stumbling block

27 October 2016 | walter
The Australian Bankers Association’s (ABA) bid to reform staff sales commissions may miss next year’s implementation date. The latest independent governance review, by former auditor-general Ian McPhee, says data on product sales commissions has proved more extensive than expected. “Additional resources were put in place once the full data collection requirements became apparent, and this is why the delivery date for this milestone has not been revised at this stage,” the review says. “Program co-ordinators are closely monitoring developments on this front.”
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ACSC calls on business to report cyber threats

19 October 2016 | walter
The Australian Cyber Security Centre (ACSC) has urged private businesses to report threats, despite reluctance among some companies to involve the Government. “Reports help the ACSC develop a better understanding of the threat environment and will assist other organisations that are also at risk,” it says in its annual threat report. “Cyber-security incident reports are also used in aggregate for developing new defensive policies, procedures, techniques and training measures to help prevent future incidents.”
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Ocean trends suggest wet weather to continue

19 October 2016 | walter
Two climate drivers monitored by the Bureau of Meteorology suggest little change to the rainy weather pattern that delivered Australia’s wettest May-September on record. It says warmer than average Pacific Ocean sea surface temperatures to Australia’s north and east point to La Nina-like impacts such as higher rainfall, even if an event does not fully develop. Two of eight international climate models suggest brief, weak La Nina levels are possible towards the end of the year, while the remainder flag neutral levels to the end of summer.
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Why you should use an Insurance Broker

13 October 2016 | walter
We all know that we can buy insurance directly – so why use a broker to buy your business insurance? The short answer is: expert advice that can help you make better insurance decisions for you and your business. An insurance broker has the experience and specialist knowledge to help you find cover that’s the right fit for your needs. Importantly, a broker works for you: not the insurance companies, so you can feel confident they have your interests at heart.   How it works
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Small Business Structures

13 October 2016 | walter
There are four main structures to choose from: sole trader status, a partnership, a proprietary limited company, and a proprietary limited company as trustee for a trust (whether a discretionary trust or a unit trust).
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After a Storm or Flood

13 October 2016 | walter
Each year storms, hail and heavy rain cause tens of millions of dollars’ worth of property damage and injuries to people; not to mention the emotional anxiety experienced from witnessing your livelihood and belongings in ruin.
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Business has head in the sand on Cyber Risk

28 September 2016 | walter
Australian SMEs are leaving themselves unnecessarily exposed to the risk of “fatal business disruption”, according to a survey from accounting and advisory group Bentleys. The biannual Voice of Australia Business Survey shows only 17% of SMEs have a formal written business continuity plan, while 34% have a risk management process. The larger the business, the more likely it is to have either measure in place. “A main blind spot we constantly come across with many of our clients is insurance,” Bentleys SA Director Assurance and Advisory David Papa said.
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New drone regulations effective 29th September, 2016

28 September 2016 | walter
From Thursday, Australians will no longer need operators’ certificates and remote pilot licences to commercially fly drones weighing less than 2kg. Instead, they will need to register online with the Civil Aviation Safety Authority (CASA) five days before their first flight. Under new regulations coming into effect on Thursday, operators will save about $1500 in licence fees and up to $5000 in pilot training fees, and be spared up to a six-month wait for a licence.
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Have I been hacked ?

22 September 2016 | walter
Have I been hacked? Even the most effective anti-malware programs don’t protect against all the different threats to our systems. It’s hardly surprising. According to AVTest, an independent IT security organisation that tracks these things, over 390,000 new malicious programs are introduced every day.  Though you follow all the best security advice, such as keeping software up-to-date, using firewalls, limiting internet usage, and applying strict password rules, the risk of infection remains.  What might alert you to the possibility of an intrusion?
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Limits on Credit and Debit Card Surcharges

22 September 2016 | walter
Credit and debit card surcharges will soon be subject to limits under new laws that aim to prevent merchants charging excessive fees when accepting card payments. 
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