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Reporter

Making your retirement money work harder

July 7, 2013 by Reporter Leave a Comment

Falling interest rates have hit retirees hard, and according to forecasters even more cuts may be in the pipeline. Particularly for self-funded retirees, it is now more important than ever to make retirement funds work harder.

banking high returns

Making smart choices about personal savings and savings products is vital, according to Greg McAweeney, Executive General Manager of RaboDirect Australia and New Zealand.

“Take the first step by moving excess money from your transaction account into a high interest savings account,” McAweeney says. “Aussies are losing out on billions of lost interest by leaving their money in low interest accounts. Take control of your money by doing the simple things.”

Generating higher returns

Chasing higher returns can be a dangerous game, particularly when you don’t have another 20 to 30 years of working life to cover any losses.

Instead, set an investment strategy with diversified investments while ensuring optimum tax and social security outcomes. A typical portfolio might comprise 50 per cent Australian shares, with the remainder made up of overseas managed funds, property and fixed interest.

Shares

“Blue chips” such as bank stocks have been popular with investors recently due to their high yields and fully franked dividends. According to a recent study by the Australian Securities Exchange, shares outperformed other investments including residential property, fixed interest and cash over the 20 years to December 2011.

Bonds

Gavin Madson, Director of Infrastructure and Fixed Income Research at FIIG Securities, says the latest cut to official interest rates made most short-term rates unattractive.

“Investors should be out of short-term fixed investments, be they bonds or term deposits, which will reflect the drop in rates fully, and instead invest in bonds around the five-year maturity mark, which are offering stronger returns on the higher base rate,” Madson says.

As well as inflation-linked bonds, he suggested indexed annuity bonds that offer an annuity-style payment stream from infrastructure projects at attractive rates.

Property

It is possible to extract wealth from your home using a reverse mortgage. Generally, the older you are the more you can borrow, with a 70-year-old likely able to borrow around 25 to 30 per cent of the property’s value.

The 2013 Federal Budget also introduced an incentive for retirees to downsize. Under the scheme, retirees can invest up to 80 per cent of the profit to a maximum $200,000 in a special account for 10 years and still receive the pension.

Government incentives

Even if ineligible for the pension, the government offers a range of benefits for retirees covering travel and medicine costs. There are also incentives for working past the pension age, including the mature age tax offset and transition to retirement.

Make sure you don’t run out of money in retirement by maintaining a mixture of income and growth assets. By maximising returns, it can be possible to enjoy the lifestyle you deserve.

This article is presented to you by Australian Business Times in conjunction with RaboDirect. For more information about investing in term deposits or utilising self managed super funds, visit RaboDirect.

Filed Under: 2013, Banks, Business, Gpost, Superannuation Tagged With: Higher returns, Investment

The return of the Rudd – 2013

June 26, 2013 by Reporter Leave a Comment

Julia Gillard visited Governor-General Quentin Bryce to ask her to commission Kevin Rudd as Prime Minister after she lost the Labor leadership tonight 26/06/2013.

Ex Prime minister Kevin Rudd to be reinstated

kevin rudd 2013

Img ref : google.com.au

Kevin Rudd defeats Julia Gillard 57-45 in Labor leadership ballot, paving way for a return to PM

Labor caucus returning officer Chris Hayes informed the nation that Mr Rudd won the leadership ballot 57-45.

lost ballot vote new prime minister australia 2013

Treasurer Wayne Swan, Communications Minister Stephen Conroy, Agriculture Minister Joe Ludwig and Climate Change Minister Greg Combet have all announced they will move to the backbench

Filed Under: News Australia, Politics Tagged With: Kevin Rudd

Types of Low Doc Products and Options

June 23, 2013 by Reporter Leave a Comment

Everyone doesn’t have a specified regular income, and when a person doesn’t have a fixed income or cannot provide documents in support, he become ineligible for a home loan. For the benefit of such people low doc home loans have been introduced, which have now transformed into smaller mortgage finance solution for such people.

how to get low doc loans

Getting a home loan isn’t as easy as it looks first up, there are many formalities associated, which makes it really lengthy and cumbersome process. However, when you want to purchase a property, you will need a home loan. And to get a home loan, you will need proof of income, assets and liabilities etc to prove your credit worthiness.

Low doc residential loans are designed specifically for self-employed people or casual workers, who have income and assets, but are unable to provide the financial documents required at the time of application for loan. To apply for a low doc loan or low document loan, a person needs to file in a written application, this application works as a self-declaration of income derived from business for casual workers and self-employed. People with bad credit history are also eligible to apply for low documentation loans.

Benefits of low doc home loans

· These loans are suitable for people who do not have financial documents to prove their regular income

· Low doc loans require no or very minimum paperwork at the time of application.

· People with bad credit history can apply for a low document loan

· Low doc loan is passed on self-verification, applicant himself states his income. No financial verification needed

Types of Low Doc Products

· Low doc 60: Under low doc 60 an applicant can get a Loan to Value Ratio of 60 percent. The applicant needs to provide an application for self-verification along with accountant’s declaration. The loan can be taken for purchase of refinance.

· Low Doc Construction: The loan covers up to 80 percent of the value, and can be used for purchase of refinance.

· Low Doc Platinum: The loan covers up to 80 percent of the value; it requires self-verification and accountant’s declaration.

· Lite Doc Express: The loan covers up to 80 percent of value. Self-verification and accountant’s declaration is required for application.

· Low Doc Easy: The loan covers up to 85 percent of Loan to Value Ratio. Application for Self verification along with accountant’s declaration is required. The loan can be used for purchase of refinance.

Low Doc Loan Options

Various types of low doc loans are available, some of them include:

· To purchase property

· For refinance

· Low doc loans for business expansion

· Loan to pay tax debt

· Loans with no mortgage insurance

· Low doc home loans to purchase or refinance residential land

· Low doc construction loan to build more residential property

· Specialist low doc loans for applicants with bad or not so perfect credit history

Author Bio:  I’m Andrew a specialist mortgage finance consultant of Red Rock Mortgage Group an independent mortgage finance company with 7+ years’ experience in writing finance topics.

Filed Under: Gpost, Property, Real Estate Tagged With: Home loans, Low doc loans, Residentail Loans

Telecommuting – RDP can Save Your Business Money & Increase Productivity

June 7, 2013 by Reporter Leave a Comment

 

 

The Australian Bureau of Statistics reported there are over 1 million businesses being run from home. It marks a move towards running your own business and taking control of your own destiny. Remote Desktop Protocol (RDP) gives you the freedom to work with any PC remotely by just opening a window on any other machine.

remote working for australia with NBN

It can save your business money and enhance productivity. With telecommuting and remote working becoming more popular, RDP is essential.

Control Your Fleet

 

You don’t need to have access to a computer to control it. An RDP client for Mac, for example, can have nine RDP clients open at the same time to control nine separate machines. It’s just a matter of closing the window to log off the machine.

It’s such an increase in productivity because you can completely remove the problem of physical distance. An employee can switch on their personal computer and access their work computer from home.

Remote Desktop Services (RDS)

 

RDS is closely related to RDP. Most companies with a significant number of PCs use RDS alongside RDP. RDS removes the hardware costs associated with buying the computers. It replaces them with single servers accessible from one or two central machines.

RDP doesn’t just connect to another computer. It’s more than capable of connecting with a server and accessing the data from there.

It’s also a boost for productivity if your company has multiple network servers. Seamlessly switching between servers saves time and ensures you can access the files you need quickly and simply.

Checking Up

 

As an employer, you want to make sure your employees are doing everything possible to increase company productivity. RDP gives you access to all other computers in your business. You can monitor what they’re doing in real-time, and even take control of them.

Since you access separate computers through a window on your machine, you can print screenshots of your employee’s activity.

It gives employers more control over their workforce. Administrators can watch their workers for a period of time and inspect processes which could warrant improvements.

Control on the Move

 

The rise of the smartphone in Australia and around the world has made staying in touch with everyone else easier than ever before. RDP also works with smartphones. All it needs is a local wireless Internet connection to work. With powerful Wi-Fi in most Australian cities, this makes it easy to send commands to your computers wherever you are.

As a decision maker, you might need to send something to a computer in the middle of traffic. For those decisions which just can’t wait, RDP can really save your hide.

Less Space

 

To have every worker on a computer in the same office costs money. Physical real estate in Australia isn’t cheap. Small businesses can reduce the amount of space they take up with RDP. It makes remote working and ‘hot desking’ a viable option for the first time.

You know you can see what they’re doing and they can keep in contact with you and each other at any time of day.

Filed Under: Australia, Small Business, Technology Tagged With: NBN, Remote Working, Teleworking

Get $ 1 Million to solve a maths puzzle

June 6, 2013 by Reporter Leave a Comment

A billionaire Dallas banker will give out  USD 1 million  as prize to anybody who can solve a mathematical problem that has baffled geniuses for years.

theorem prize  1 million

1 million prize for solving Beal conjecture  theorem

The American Mathematical Society (AMS) in Rhode Island has announced that the prize for the solution to the Beal Conjecture, a number theory problem, has been changed AND increased to USD 1 million.

The  Beal conjecture :

http://www.bealconjecture.com/

The conjecture is named for D Andrew ‘Andy’ Beal, (the Dallas banker) who has a strong interest maths and who provided the funds for the Beal Prize and is looking forward  to solution to his number theory.

The prize will be given

For a proof of solution

or a counterexample to, the Beal Conjecture.

An other previous maths  theorem that baffled geniuses “Fermat’s Last Theorem theorem” was proved in the 1990s by Andrew Wiles, together with Richard Taylor.

A  prize (USD 1,00,000.)for a solution to the Beal Conjecture was announced in 1997. To date, no correct solution to the problem has been found.

Andrew Beal Math Problem

The famous  Poincare Conjecture, was solved by Russian mathematician Grigori Perelman in works he made public in 2003 and he went on to turn down the monetary prize.

 

To earn this 1 Million Beal Prize

A  proposed solution must be published in a refereed mathematics publication which is respected and, in the opinion of the prize committee (selected by the AMS), maintains the highest editorial standards.

Filed Under: 2013, Billion, Billionares, Millionaire, World Tagged With: 1 million, Prize, Theorem

The importance of building and maintaining a customer-friendly brand

May 30, 2013 by Reporter Leave a Comment

With competition fiercer than ever in our ever-volatile market, it is imperative to not only run a successful business, but to offer a service head and shoulders above the rest. After all, customers are going to want the absolute best.

That is where the importance of building a customer-friendly brand comes in – if a customer can connect and relate with a company, their emotional engagement is sure to return itself in their loyalty. Therefore, how do you keep your customers on side when dealing with your service?

clip_image001

Photo courtesy of SalFalko on Flickr

The new rules of putting the customer first

In 2012, Metro Bank began to expand and said that its fantastic success during a period of recession was due to their dedication to provide good customer service.

Anthony Thomson, the co-founder and chair of Metro Bank said that their unique business model allows them to build their company around their customers’ needs, which differentiates from the more traditional method of banking. For example, the bank sets their staff with customer satisfaction goals rather than sales targets, and opens for 12 hours each day to suit each and every customer.

Profit should not be the reason to go into business, says Thomson. Although it is a pleasant by-product of success, the reason that you want to succeed should be to fulfil the purpose of your business and provide exceptional service to your customers.

This service based mantra has clearly served the company well, as they continue to grow.

However whilst a company can aim for perfection every time, things can go wrong. Often the way that the situation is handled is a testament to the company and how they value their customers, so if things don’t quite go to plan, how do you maintain great customer service?

Facebook throws fuel on the fire

What happens when you’ve been annoyed beyond the realms of acceptable? Often we broadcast it, using social media as a method to vent our frustrations. Imagine this applied to business; the instantaneous nature of networking online means that a molehill can explode into a mountain in just moments.

For example, take the recent case of Virgin Media applying a late payment fee of £10 due to the direct debt being refused on the grounds of the payer having just died. Jim Boyden, the son-in-law of the deceased, posted a picture of the bill on Facebook on the evening of 22nd April, and by 24th April it had been shared by more than 53,000 users.

Virgin Media have since apologised to the family of the customer, but social media experts have said that this example shows how important a role social media plays now in customer service. Dr Lisa Harris, head of the digital marketing master’s programme at the University of Southampton spoke to the BBC on the matter and was said:

“Corporations are very good at promoting themselves; they recognise that everyone needs a Twitter and a Facebook account and they are aware the networks exist but they don’t have the strategies in place to deal with the issues that can arise from those networks”

The head of BT customer services Warren Buckley says that 40% of their complaints now come from social network Twitter, further stressing the importance placed on social media in the service industry.

Therefore to avoid becoming embroiled in similar situations, it is important to maintain an active presence via social media, and reply to those who take the time to get in touch with you. Take for example O2, who regularly respond to individual queries via their Twitter feed to resolve issues quickly.

By learning from the faux pas of some companies and implementing the customer-friendly strategy of others, you too can build a brand that attracts business and begs forgiveness when necessary.

Rosie Percy writes for the business sector and specialises in customer facing areas such as social media, lead generation and customer satisfaction. For more information on lead generation visit http://www.marketmakers.co.uk/lead-generation/. Rosie has previously written for the Guardian as well as lifestyle blogs, and now lives and works in Brighton.

Filed Under: 2013, Business, Gpost Tagged With: Business, Customer service

Financial Headaches Facing Small Business Owners

May 23, 2013 by Reporter Leave a Comment

Fierce and uneven competition in the market is often the downfall of small business operations. Unlike large enterprises where cashflow is continuously trickling in enabling the repayment of business expenses, SMEs will frequently struggle to pay off debts if they handle their finances in the same manner. For the small enterprise, generating income and having enough cash at hand to pay for bills and expenses is one of the most important and challenging tasks. So finding the right solution to keep cash levels flowing and the business moving is paramount to ensuring successful business growth.

smallbusiness tax and australia

Keep the cash flowing

Cash flow is perhaps the heaviest issue for the small businessman. A profitable next quarter doesn’t mean anything if your workers won’t get their pay packets this quarter. Business owners must acquire an acute sense of timing and budgeting. Revenues must sustain the outflow of cash and replenish for the succeeding quarters in time before other expenses are due. With accurate calculation, the small business owner must be able to keep credit in check while predicting the times ahead, especially if there is significant seasonal variation in profits. If you do find yourself in some cash flow troubles due to bad debtors, you may wish to seek the aid of a debtor finance specialist to give you some help with unpaid invoices and get quick cash injection.

Expect the unexpected

The first few months in a business’s life can drive the small entrepreneur’s finances close to negative, with slim to none profits in the first few years. Businesses can generally handle the slow start as long as they aren’t hit with any sudden financial burdens. A large proportion of your profits may already be going towards office rent and maintenance but make sure you also have the correct insurance policies as the last thing you want to pay for is a large payout if a customer slips in your storefront.

Other like expenses such as government special charges and taxes on businesses and products even the price increase of supplies can also affect the small businessman’s finances. Keep a part of your income for these unexpected expenses. Better yet, anticipate these and keep into account when they are exactly due and how much they all amount to. Being fully aware of all potential costs will give you a much clearer picture of where the cash goes.

Prepare alternative plans when a disastrous event occurs.

In a huge business, the loss of an executive might not be as devastating as it is to a small company; they might just promote a person among subordinates that were groomed to follow and continue running the business. This is not so in a small business; if a small enterprise loses a key person, especially if he or she holds a number of responsibilities, the loss will affect the entire business—more so if the key person is the entrepreneur himself/herself. The business may temporarily stop for weeks, months or extended periods of time.

Natural disasters are also source of business interruption. If that happens, keep your cash on hand ready for any damages that need to be repaired. Also keep business policies in check to know when you can resume business the earliest time possible.

This guest post is brought to you by Scottish Pacific. For more information on business cash flow solutions and invoice discounting visit Scottish Pacific.

Filed Under: 2013, Gpost Tagged With: Discounting, Smallbusiness, SME

Rat disguised as lamb meat sold in china

May 6, 2013 by Reporter Leave a Comment

In a new  meat scandal  after the UK horse meat scandal china has been rocked with a incident where  rat meat has been used instead of lamb.

According to  Indian newspaper  NDTV that has reported on this incident

A criminal ring in china was accused of taking meat from rats and foxes and selling it as lamb in china  the country’s latest food safety scandal.

china food scandal rat meat scandal uk

http://w3.xs.edu.ph

63 people were supposedly  involved in this food scandal  in which  they ran an operation in Shanghai and the coastal city of Wuxi that bought fox, mink, rat and other meat that had not been tested for quality and safety, processed it with additives like gelatin and passed it off as lamb.

Guess whih is fake lamb?

Ref: http://www.tealeafnation.com/ via weibo

The top one is fake

This fake meat scandal in china has embarrassed the Chinese government once again. China has  food scandals before with – milk contaminated with an industrial chemical to the use of industrial dyes in eggs  and other similar scandals.

After a baby food scandal rocked the country , Adulterating baby food so that it severely lacks nutrition is also punishable as a crime under the guidelines. Negligent government food inspectors are also targeted for criminal punishment. Many people have resorted  to buying baby products from the internet and overseas

Filed Under: 2013, China, Times, World Tagged With: Chinese, Horse Meat, Meat scandal, NDTV, News Australia, Newspapers

Australia’s best hotels for corporate meetings and conferences

May 2, 2013 by Reporter Leave a Comment

Whether you’re a businessman, public servant or representative of an organisation, one task that will come up every so often is arranging a conference for both internal and external figures. It’s a task that usually eats a large amount of one’s time as organisers find information on a range of hotels and other meeting spots before checking them against myriad attributes. Fortunately, however, top hotels for conferences exist in every major Australian city, meaning it is not impossible for you to impress colleagues and stakeholders with your choice of hotel.

australian heritage hotels

An Australian heritage Hotel

Hotel Lindrum, a Melbourne hotel situated in the heart of the city, provides a classy, yet value-for-money option, which is great for those organising a meeting or conference on behalf of a small business. The Lindrum’s Australian Room offers a cosy but highly professional setting for meetings of up to ten people. At $400 for a full day or $280 for a half day, and with a tailor-made menu for meetings offering food and beverage options from $15 per person, a corporate meeting in the Australian Room can boost a small business’ clout without eating its hard earned profits.

The Sebel Pier One in Sydney has breathtaking waterfront views that will charm even the fussiest of conference guests. Overlooking Sydney Harbour, Pier One’s main conference venue is able to fit 440 guests, which makes it a great choice for large conferences of a high-level and prestigious nature. Alternatively, Sebel Pier One has seven smaller conference rooms, allowing for an elegant, yet more intimate atmosphere for corporate small business meetings. While it is on the expensive side, the highly sophisticated atmosphere and the first-rate views make Pier One an excellent choice.

The Crowne Plaza Canberra is in a central location close to the National Convention Centre, giving guests easy access to any large functions occurring there. The Plaza has six meeting rooms which cater for conferences and corporate meetings with few or many guests. Its largest room, The Glebe, fits up to 50 guests in a meeting setting while the smallest room in the Crowne, Pods 1, fits up to 17. Such diversity of rooms in a prime location gives Crowne Plaza something to offer for large and small businesses alike.

The Crowne Plaza in Canberra is not the only one excellent for conferences; Adelaide’s Crowne Plaza also offers outstanding facilities for those in Australia’s south. Like its Canberra counterpart, Adelaide’s Crowne Plaza has a diverse array of meeting rooms, with seven being offered by the hotel. Along with luxury, the Plaza’s state of the art technology in its function rooms is its major strongpoint. The Hindmarsh Ballroom, for instance, includes a built-in data projector and screen which has been deemed as the “latest in technical facilities” by the hotel.

When it comes to size, Brisbane’s Pullman Hotel is unrivalled in the Queensland capital. Located in the centre of the city, the Pullman has the capacity to fit up to 1000 people in its largest ball room, an easy fit for even the largest of corporate functions. For smaller corporate meetings, the hotel also has two boardrooms. On top of all this, the Pullman Hotel also boasts the 50-seater King George Room, which overlooks Brisbane’s King George Square, giving it character for those hosting a conference with a sophisticated touch.

Over in the country’s west, the Duxton Hotel in Perth is an attractive hotel venue for conferences given its five-star facilities and location near the Swan River in the city centre. With nine meeting rooms, ranging from a function floor on the Lower Lobby Level and the six-seater Duxton 5 meeting room, the hotel appeals to those hosting large and small conferences and meetings. The Duxton Hotel is located on St Georges Terrace, which has public transport connections to Perth’s Domestic Airport, making it a great choice if catering to interstate guests.

In Australia’s north, the Vibe Hotel Darwin Waterfront offers four flexible conference and meeting rooms within walking distance of Darwin’s Central Business District. The Vibe is situated in the recently developed Waterfront precinct, which contains many top alfresco restaurants and entertainment areas. Vibe Hotel is also 20 kilometres from Darwin Airport, making it a great hotel to hold a conference if attendees are flying in from elsewhere.

Australia boasts some of the best hotels for conferences and corporate meetings. Hotels in every major city in the country contain conference rooms to cater for both small and large conferences as well as professional atmospheres for even the highest-level of meetings. With central, easily accessible locations and state of the art technological facilities in these venues, a business can easily consider flying into a new location for the annual company conference or function.

Carla C. Burton is a self-employed Travel and Hospitality writer with a BBA in Business Administration from Bond University.  Although a Gold Coast native, Carla moved to Melbourne in 2008 to further her writing career in the Travel industry.  Carla has become a top contributor to many Travel blogs world-wide and thoroughly enjoys the freedom that self-employment has provided her.  To find out more about Carla or to follow her other posts, follow her on Twitter @CarlaCBurton.

Filed Under: 2013, Australia, Entertainment, Gpost, NT, Perth WA, Sydney, Times, Victoria, WA Tagged With: Australian Hotels, Hotel accomodation, Tourism

Who Pays for Online Credit Card Fraud?

May 2, 2013 by Reporter Leave a Comment

In this age of new technology, we have begun to live our lives between the online world and the real world. There are now so many ways that we can communicate with our customers, through social media, our websites and ultimately through the transactions that we make. It has never been easier to make the connections we need to keep our businesses above water; but this does come with new ways that criminals can gain access to our companies and customers details and sometimes this can leave all parties involved out of pocket. The main and most common ways that this happens is through credit cards, mainly due to the amount of sites that now accept our credit card details. Here we will look at how and who this fraud relates to and ultimately, who carries the cost.

credit card fraud  online

The Credit Card Company

The majority of credit card fraud issues includes fraud, theft and expired cards. In the case of online fraud, currently the easiest way to commit this form of crime, many credit card processors have a zero liability policy that will return the card holders cash to them. Many times the card provider will not allow the transaction to be processed, and the person making the transaction will become aware of this. This allows the bank to investigate the transaction and determine the best course of action.

If a transaction is processed then this will usually leave the credit card company paying the money back to the cardholder and will be covered by their insurance; the turnaround time for reimbursement is, on average, 48 hours.

The Merchants Responsibility

There are times when credit card fraud can be attributed to the merchant, mainly for letting the crime happen on their site. This usually occurs due to a lack of onsite security during the payment process.

One scenario when a merchant is most likely to be charged to foot the bill, is when it can be a proven mistake on their part. A prime example of this was a recent merchant fraud case involving Apple in the UK, was a case of a child using his parent’s credit card to pay for online games. Apple had not integrated this liability into their planning and as the parent’s card details were stored, there were no restrictions to stop the child from using it. Apple had to reimburse the full cost as it was indeed a fault of theirs.

There are ways that, as a merchant, you can make sure that you are protected; the most obvious is to make sure that you have adequate SSL security on your site. This should be displayed throughout a variety of you pages and be obvious at the transaction point. This will, at least protect you if a customer’s details are stolen from your site.

The Customer

The bulk of online fraud transactions are now covered by the banks and credit card companies, but there may be times when the customer is just as liable as the merchant. The majority of credit card fraud cases will need to be proven by the customer and merchant in order for the creditors to make the reimbursement. If you have found fraudulent activity on your account, or one of your customers has experienced this, then it is imperative that you find out what the credit card company classes as an ‘authorized’ transaction as they can differ between companies. In essence, if you have presented your card for payment, then you could be liable for the charges that apply directly to this activity.

The issues with customer liability within this arena is that there are now so many ways that you can pay for things using your card, Paypal, online, offline and many people store their bank statements on their computer. If you then allow someone to use your computer and they take your details, then you are liable – it really is as easy as that.

In conclusion, we are all liable at some point to pay for the crime of credit card fraud, so we need to work together to make sure that we are all as secure as we can be.

Filed Under: 2013, Australia, Credit Cards, Finance, Gpost Tagged With: CCards, Fraud

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