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An inexpensive general business news bulletin in a very brief format that is relevant to time poor small business owners. Helps you keep up-to-date with business news, business laws and procedures to set up and run a small business.

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These are the sort of news items we cover in our business news

A mixture of regulations and information

New Regulations for warranties against defects.
‘All retailers and manufacturers must act now to ensure that all product warranty information given to consumers complies with new regulations which come into effect on 1 January 2012.

All documents that give a warranty against defects - including manufacturer warranty cards, terms and conditions of sale, warranties given on product packaging - must comply with Regulation 90 of the Competition and Consumer Regulations 2010...’

Source: www.nortonrose.com
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How to survive a tax audit.

‘The ATO considers they are entitled to a large chunk of what you earn. When you talk to auditors they see it as their money, and you are merely the short term custodian. If you are to come through the audit unscathed it is vital you understand some basic rules. The following will help...’

Source: Allan Mason, http://broadviewpublishing.com.au/

How to talk to strangers at professional events.
Here is a straight to the point article by Franny Oxford on how to talk to strangers at professional events.

‘The true gold of a conference is the opportunity to create or widen a professional network. These are folks you can learn from, bounce ideas off, meet for an occasional happy hour, and maybe even work with someday. Making connections is crucial to your career, your well-being, and your learning.

So, how do you do it? First, get over yourself. Not to be mean, but nobody cares—if someone doesn’t respond to your small talk, it doesn’t matter. This isn’t reality TV, no one is watching. Just go chat with someone else...’
Source: www.prdaily.com, Franny Oxford
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Why you need to be careful when writing a reference for former employees.

‘Honesty in employee references is crucial. It is vital for employers who provide a reference about a former employee to ensure that the reference is an honest, accurate and fair reflection of the employee’s performance. A reference can often be the difference between an employee getting hired or being forced to look elsewhere. It is critical that any reference given by a former employer for a competent employee accurately reflects that competence. Be truthful and conscientious or risk a negligence claim...’

Source: Warwick Ryan and Nathan Day, MyBusiness.com

Increase to the National Minimum Wage and Modern Award pay rates.
The Fair Work Ombudsman is reminding employers and workers that increases to the National Minimum Wage and Modern Award pay rates take effect from the first full pay period on or after July 1 2011.

In accordance with the Annual Wage Review decision by Fair Work Australia earlier this month, the National Minimum Wage increases by 3.4 per cent to $589.30 per week, or $15.51 an hour.

The Annual Wage Review decision also increases minimum rates and allowances in Modern Awards and other minimum wage instruments.

Fair Work Ombudsman Executive Director Michael Campbell says it is important employers are aware of the increases and how they affect their businesses.

From July 1, the Fair Work Ombudsman will have a variety of resources available to assist employers determine the correct pay rates for their staff members..