Financial Management

smartAR Group Managing Director Dave Birch explores ‘Why Law Firms Aren’t Paid on Time’ in Part One of this three-part series for firms in the legal industry.

See how legal firm, Mullins Lawyers used Sale and Lease Back to strategically inject cashflow into their business, whilst keeping their IT assets up to date with help from Maia Financial.

Learn how legal firm Hunt & Hunt used operating leases to cost-effectively acquire new IT assets, help their business maintain cashflow – and keep technology up to date.

In support of the day and this year’s theme, on 8 March we are all encouraged to “Imagine a gender equal world. A world free of bias, stereotypes and discrimination. A world that's diverse, equitable, and inclusive. A world where difference is valued and celebrated. Together, we can forge women's equality. Collectively we can all #BreakTheBias.”

Stapling is the prevention of unintended multiple accounts (otherwise known as “stapled funds”). Simply put, this means that an employee’s superannuation account will stay with them when they change employers. If an employee changes jobs, their new employer is required to pay Super Guarantee (SG) payments into the employee’s stapled fund unless the employee completes a ‘Choice of Fund’ form nominating a different super fund. If an employee does not have a stapled fund (for example, when an employee first enters the workforce) and does not make a ‘Choice of Fund’ selection, the employer may make the SG payments into an account set up with the employer’s default fund.

Fee-related questions are amongst the trickiest a solicitor needs to answer confidently. This is true whether you view these questions from the clients’ perspective of value-for-money. Or for your firm’s profitability. Before you quote a price to clients you need to answer some really important questions.

From 1 July 2021, Superannuation Guarantee (SG) rates increased from 9.5 percent of ordinary time earnings to 10 percent. The SG rate is scheduled to continue to increase until it reaches 12 percent from 1 July 2025 onwards.