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6 steps to create a mentally healthy and vibrant workplace

It’s estimated we spend a third of our life at work. It may even be more if you run your own small business. From working overtime during the week to catching up on paperwork on the weekend, having enough time to get everything done is a challenge for most small businesses.

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So, it’s easy to understand why you might not feel like you have the time to think about your own wellbeing let alone the wellbeing of your employees or your co-workers. However, understanding how the people in your business are coping with both life and work pressures is just as important as paying your suppliers every week or doing a stocktake.

45% of Australians experience a mental health problem at least once in their lifetime.

In 2022, 52% of serious mental stress claims in Australia were because of work-related issues. These issues included harassment, bullying, work pressure and occupational violence.

Poor workplace wellbeing affects workers’ mental health and productivity, costing our economy up to $22.5 billion a year. Asking a colleague ‘R U OK?’ may begin a conversation that not only helps them but also helps build a healthy workplace.

This year, R U OK? Day is on Thursday 12 September 2024. The day serves as a reminder that asking, ‘are you ok’ any day of the year is important to the mental health and wellbeing of those around you.

One way to improve workplace wellbeing, safety, and performance is to use Dr Martin Seligman’s (2012) PERMAH framework. This evidence-based model highlights 6 factors that help us feel good and perform well at work. Workplace culture can be improved by prioritising these 6 elements.

A graphic showing the PERMAH Framework.

1. Positive emotions: ‘AMP’ up your understanding of stress


A healthy workplace is not absent of stress, but it is one where people know how to manage it. Stress is natural, especially if you run your own small business. Often, it’s our body’s way of trying to alert us that something we care about is at stake.

By noticing the signs of stress in yourself and your employees, Associate Professor of Psychology at Standford University Dr Alia Crum, found we can harness our body’s stress responses to help us meet life with the energy and courage we need to deal with whatever is at stake.

You can help your workplace ‘AMP’ up an understanding of stress by encouraging your people to:

Be Aware when they feel stressed, that their body is trying to get their attention by making them feel uncomfortable (sweaty hands, racing heart, tight jaw or hunched shoulders).
Find Meaning for these feelings by asking them what's happening that's important and may not be going the way they want.
Prioritise Conversations and/or actions that can positively impact the outcome of what's unfolding. Remember, tiny steps can have a mighty impact because they motivate people to move forward with confidence.
Whether you’re a sole trader or run a small team, understanding the signs of stress can help keep you and your employees in a positive frame of mind. Sometimes stress can’t be avoided, but we can manage how that stress affects us and do things to help reduce it.

2. Engagement: give strength-focused feedback


High-performing teams share nearly 6 times more positive feedback than average teams, while low-performing teams share nearly 2 times as much negative feedback as average teams. Make giving strength-focused feedback to your employees a priority, and easier and more effective by using the ‘THANK’ method:

Track: What is the positive impact you’ve seen this person’s work having recently on others? How specifically might they be making work or life easier or better?
Highlight: What can you see them learning, doing, and/or delivering that is making this positive difference that you value?
Appreciate: What strengths – the things they are good at and enjoy doing – can you see being used to make this effort and/or outcomes possible?
Nurture: How can these strengths be built on? How might they avoid overplaying or underplaying their strengths that could help improve their performance?
Kindle: What support might they need/want and what does this look like?


3. Relationships: build psychological safety


Vibrant workplaces welcome honesty, prioritise learning, encourage asking for help, and support taking risks together. Everyone struggles at work from time to time. Workplaces that normalise the feeling of struggling can promote healthy learning and growth.

Removing any barriers or embarrassment to having open conversations can help unlock the potential for people to become better at their jobs. Psychological safety can be built by using the following Safety Check Chat questions to check in with your team:

What’s working well?
Where are we struggling?
What are we learning?
What do we want to try next?
Four people in an office sitting at their desks, laughing on a coffee break.

 

Four people in an office sitting at their desks, laughing on a coffee break.

4. Meaning: create a giving culture


We long to be more than the sum of the tasks we perform at work. The good news is researchers have found that meaning can be found in any job by helping people identify the difference their work makes to others. Encourage a healthy workplace by getting people to invest in 5-minute favours that make a positive difference in someone else’s life by:

offering to help with a hands-on task
sharing their expertise (i.e. offering their skills)
coaching or mentoring others (i.e. teaching someone how)
passing on favourite resources (i.e. books, podcasts, articles, recommendations)
supporting a colleague by listening to their struggles and/or successes.


5. Accomplishment: setting and celebrating learning goals


A vibrant workplace is one that learns and understands failure and mistakes are part of how things are accomplished. They do this by embracing a ‘growth mindset’ that recognises that while we all bring to the workplace certain talents, abilities, and intelligence we can improve upon these with learning, practice, and support. To help your team develop their growth mindsets you can ‘SET’ learning goals:

Spark your curiosity: Challenge your mind by picking a small learning goal that can make a big difference.
Experiment: Act on your learning goal within the next 24–48 hours. Remember as long as you show up, give your goal your best shot, and stay curious about the results, you can’t fail.
Tune into feedback: Measure your progress, seek feedback, and reflect on what you’re learning to move closer to your goals.


6. Physical health: the need for rest and recovery


Vibrant workplaces recognise we are built to swing between periods of activity and recovery. They understand the power of short breaks throughout the day. In turn, this helps people stay energised, healthy and more productive.

Recovery doesn’t mean you need to take a nap in the backroom or under your desk. Researchers have found that short breaks allow the thinking parts of our brains to rest. This can be just as effective as naps. Here are some easy ways to add these to your workplace:

Encourage ‘walk and talk’ meetings/discussions where possible.
Encourage shared lunch breaks, eating together away from desks or finding an external lunch location.
Provide exercise cards/posters for quick stretches between tasks.
Organise fun workplace challenges that encourage activity and involvement, e.g. a sit-stand challenge to see who can hold the position the longest.
Allow short social breaks like tea/coffee conversations, which help rest the brain and build connections between employees.
How to create change in the workplace
Business owners and leaders may face challenges when trying to bring about behaviour changes. Professor James Prochaska, (a leading researcher in behaviour change), highlights that there are 3 common derailers when it comes to caring for our wellbeing. These include:

‘I don’t want to’
‘I don’t know how to’
‘I don’t think I can’.
Creating safe places for people to learn and grow can be a strategic way to help overcome these barriers. Business owners can do this by tapping into curiosity rather than judgment, as well as encouraging their employees to switch their mindset about how to deal with people:

Instead of making assumptions, slow down and ask questions to understand.
Rather than being embarrassed to ask questions, assume learning is helpful and seek/offer support.
Instead of complaining about someone’s performance, assume everyone is capable and spark kind conversations to enable growth.
Rather than pointing the finger and blaming others, encourage shared responsibility and create transparent and safe spaces for accountability.
Building a vibrant workplace culture is an ongoing process requiring long-term strategies. A learning loop can be helpful to enable continuous improvement:

Act: What have you tried? Why did it matter to you?
Assess: What went well? where did you struggle? What did you learn?
Adjust: What will you try next? Do you need support?
Building a healthy and vibrant workplace isn’t something that can be done overnight or something that you must do by yourself. It’s done by encouraging a workplace culture of positive behaviours every day. It’s the small things that count in the end. Researchers suggest that small and consistent ‘wellbeing wins’ amplify our confidence and motivation so we can scale up our efforts over time.

Small changes can have big results
In a vibrant workplace, people feel safe, energised, and ready to collaborate. They’re resilient and productive, navigating both highs and lows as part of learning and growing together. Ask yourself, are you creating and leading a vibrant workplace culture?

Start implementing the frameworks and wellbeing strategies above. Your proactive commitment to making even one small change today can make a meaningful difference both now and in the future.

Let’s make R U OK? Day the opportunity to not just ask this vital question, but to create sustainable and vibrant work environments where wellbeing is prioritised and businesses perform at their best. For more information on R U OK? Day, visit the R U OK website.

For more information on building resilient people, healthy relationships and vibrant workplaces, visit the Wellbeing Lab website.

Tools to improve your workplace’s mental health
Work Safe Victoria’s mental health: safety basics
The Victorian Mentally Healthy Workplaces Framework | vic.gov.au (www.vic.gov.au)
Mental health support services
Mental health support and assistance services
Free support and advice with Partners in Wellbeing

 

 

 

THE WELLBEING LAB
12 SEP 2024
business.vic.gov.au

 

 

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Tax and BAS returns

Taxation

The implementation of effective tax strategies is an integral part of the financial planning process. Structuring the way in which you receive your salary, superannuation contributions, investments, risk and debt management can significantly minimise your tax implications and are an essential component of your wealth creation and retirement strategy.
At Clear Picture, we want you to accomplish your financial objectives in the most tax-efficient manner as other aspects of your financial plan become easier to implement when your tax liability is minimised.
Our strategies are tested, proven and successful. We offer a broad range of taxation advisory services including:
  • Income Tax
  • Capital Gains Tax (CGT)
  • Superannuation & Transition To Retirement
  • Salary Packaging and Fringe Benefits Tax (FBT)
  • Land Tax and Stamp Duty
  • There are numerous tax effective financial planning strategies that may be appropriate for your circumstances and enhance your tax, retirement and wealth objectives. Contact our team to discuss the possibilities.

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BAS

Lodging your BAS correctly and on time can be a difficult and confusing process. You can avoid risk and stress simply by being confident that your ATO tax liabilities and obligations are sorted and your BAS lodgement is correct every time.
It’s not surprising that peace of mind for many business owners comes with appointing an experienced agent to look after their BAS services for them.
Our friendly, service orientated team offer a range of BAS services and lodgement options to suit all small business owners so you have more time to do what you do best – running your business and earning money.
Services include:
  • Preparation of Business Activity Statements from business data
  • Electronic Lodgement of Business Activity Statements
  • Personalised advice on BAS provisions (including GST, PAYG, Withholdings and Instalments, Fringe Benefits Tax, Fuel Tax Credits and more)
  • Preparation of Instalment Activity Statements and Employee Payment Summaries
  • Management of financial data files and preparation of reports for business tax returns
  • Handle payroll and superannuation obligations including Reportable Employer Super Contributions
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Accounting

Straight forward and stress-free accounting services are what businesses of all sizes need form their accountants and we believe we provide exactly that. By providing cutting edge accounting and taxation services, and using the right products for your record keeping, our team at XX will work closely with you to ensur we understand your needs. Only in this way can we help you achieve your goals, help you manage your cash flow and help you meet your tax obligations.
While fiscal compliance is of the upmost importance, we also believe in offering professional management advice and support at all times. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.
The areas we specialise in are as follows:
  • Accounting & Tax Consultancy Services
    Straight forward and stress-free accounting services are what businesses of all sizes need form their accountants and we believe we provide exactly that. By providing cutting edge accounting and taxation services, and using the right products for your record keeping, our team at XX will work closely with you to ensur we understand your needs. Only in this way can we help you achieve your goals, help you manage your cash flow and help you meet your tax obligations.
    While fiscal compliance is of the upmost importance, we also believe in offering professional management advice and support at all times. We are committed to offering the highest level of friendly and professional service and welcome the opportunity to work with you.
    The areas we specialise in are as follows:
  • Accounting & Tax Consultancy Services
  • Personal & Business Tax Returns
  • Annual Reporting
  • Business and Tax Advisory
  • Business ‘start up’ advice
  • Prepare Business plans and financial budgets and review these regularly
  • Measure your performance against industry benchmarks
  • Trust & company structures
  • ATO correspondence Management
  • Taxation – GST & PAYE advice, BAS preparation
  • Liaise with the ATO on your behalf
  • Self-Managed Super auditing
  • Accounting software advice and assistance
  • Personal & Business Tax Returns
  • Annual Reporting
  • Business and Tax Advisory
  • Business ‘start up’ advice
  • Prepare Business plans and financial budgets and review these regularly
  • Measure your performance against industry benchmarks
  • Trust & company structures
  • ATO correspondence Management
  • Taxation – GST & PAYE advice, BAS preparation
  • Liaise with the ATO on your behalf
  • Self-Managed Super auditing
  • Accounting software advice and assistance

Bookkeeping and Payroll

Bookkeeping

Clear Picture can take over all, or some of your bookkeeping activities allowing you to concentrate on growing your business.
We can:
  • Design, establish and review accounting systems and software
  • Perform checks, reconciliations and end of financial year reports
  • Manage your accounts receivable and accounts payable
  • Ensure your business is up to speed with legislative requirements and management reports
  • Undertake payroll duties and compliance
  • Prepare and lodge BAS statements
  • GST & PAYE advice
  • BAS Lodgement
  • GST Reconciliation
  • PAYG Withholding & Superannuation reports
  • Completing expense reports
  • Direct to bank account transactions
  • Organising your documents and records
  • Data / ledger entry
  • Paying bills
  • Completing expense reports
  • Direct to bank account transactions
  • Provide general business administrative support

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Payroll

We can assist you with all facets of payroll and reportable contractor payments. Our professional team are fully versed in all legislative requirements and the processes required in managing this crucial part of your business.
The primary objective of payroll processing is to ensure that employees receive all the financial entitlements they are owed in a timely manner.
Poor payroll processing can be very detrimental to a business as it can significantly impact net income and lead to disgruntled staff. With an abundance of legislation, payment methods and withholdings, payroll management can be a difficult and time-consuming process.
Payroll processing services include:
  • General Payroll – ensure your staff are paid the correct rates and paid according to the correct hours worked.
  • Payslips – Our team can prepare your staffs payslips on your behalf and email them directly to you or your staff along with
  • PAYG Withholdings – Any business that has employees or pays employees of another business must withhold an amount from payments made to them. Any payments made to a business that doesn’t quote an ABN on an invoice or other documentation must also have an amount withheld from payments.
  • Taxable payments reporting – Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. These payments need to be reported to the Australian Taxation Office (ATO) on the Taxable Payments Annual Report, or electronically.
  • Entitlements – calculation of leave including holiday, personal, long service and rostered days off.
  • Payroll Tax, Workers Compensation Insurance, Employment Forms – some or all of these may be needed for your business.
  • Efficient and Electronic systems – these should simplify all processing and provide greater security for you and your staff.
  • Superannuation should be calculated and paid – this is a compulsory whereby employers are required to pay a percentage on top of “ordinary time’s earnings” to a nominated superannuation fund. These contributions need to be made at least once every three months and penalties for late payment are very severe.
  • End of Payroll Year Processing – Reconciling, Generation and Lodgement of employment group certificate’s and payment summaries, taxable payment summaries, reportable fringe benefits and lump sum amounts

Business start ups

There are four main business structures commonly used by businesses in Australia and we can help with them all:
Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
Partnership: an association of people or entities running a business together, but not as a company. A partnership is relatively inexpensive to set up and operate.
Company: a legal entity that is separate from its shareholders.
Trust: an entity that holds property or income for the benefit of others. Trusts require a formal trust deed that outlines how the trust operates, requires the trustee to undertake formal yearly administrative tasks and if you operate your business as a trust, the trustee is legally responsible for its operations. A trustee of a trust can be a company, providing some asset protection.
It is important to note that you can change your business structure throughout the life of your business.
Before commencing a new business, the following are some of the key items that need to be considered:
  • Decide on the most suitable structure for your business – sole trader, partnership, trust or company
  • Prepare a business plan, cashflow projections, budgets, and trading forecasts
  • Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
  • Establish a good working relationship with your bank
  • Register for a Tax File Number and an Australian Business Number with the ATO
  • Complete registration procedures with Australian Securities and Investments Commission
  • Deal with company secretarial issues
  • Set up a recording system for your internal use and for complying with statutory requirements

Each new business is different and needs to be considered in relation to your individual circumstances and our experience can ensure you are maximising your opportunities.

Consulting

Tax & Accounting Consultancy Services

Management Accounting includes the preparation of management reports and accounts that provide accurate and timely financial and statistical information. Information required by managers to make day-to-day and short-term decisions more efficiently and effectively to achieve desired outcomes such as increasing profit or delivering improved services.
Unlike financial accounting, which produces tax returns and annual reports, management accounting generates monthly or weekly reports for an organization's management and decision makers. These reports typically show items such as available cash, sales revenue, orders in hand, accounts payable and accounts receivable, and outstanding debts. An important aspect of Management accounting is determining what information management needs and communicating this effectively.
Clear Picture can assist with all aspects of management reporting including:
  • Strategic advice to managers about the financial implications of projects
  • KPI reporting
  • Explaining the financial consequences of business decisions
  • Formulating business budgets and business plans and strategies
  • Monitoring spending, financial control and Cashflow projection
  • Conducting internal business audits
  • Monthly/quarterly management reports
  • Product costing reviews.

Tax advice, tax planning and structuring advice

Tax Planning

Tax time is coming up. Are you prepared?
When the time comes to deal with your own taxation and accounts, it can be stressful and hassling. Though through good preparation and planning, you can make tax time work for you and potentially reduce the impact of tax, while keeping up to date.
Clear Picture are specialists at accounting and taxation. Based in XXX, we aim to provide our clients with comprehensive tax planning advice and strategies, all at competitive prices.
We provide assistance for:
  • Individuals
  • Families
  • Artists
  • Trusts
  • Businesses and
  • Organisations (non-profit and commercial)

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Tax Planning

Tax time is coming up. Are you prepared?
When the time comes to deal with your own taxation and accounts, it can be stressful and hassling. Though through good preparation and planning, you can make tax time work for you and potentially reduce the impact of tax, while keeping up to date.
Clear Picture are specialists at accounting and taxation. Based in XXX, we aim to provide our clients with comprehensive tax planning advice and strategies, all at competitive prices.
We provide assistance for:
  • Individuals
  • Families
  • Artists
  • Trusts
  • Businesses and
  • Organisations (non-profit and commercial)

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Structure

A client needs to put in place the right strategies and structures, to create wealth and then review these strategies and structures on a regular basis. That is because your circumstances and goals will change and so will the economy and the legislation relating to how your affairs are structured.
There are many paths that may be more appropriate than others such as:
  • Selecting the best tax structure;
  • Using gearing;
  • Reducing debt;
  • Using Shares, managed funds or other types of assets. Indeed it may be a combination of many to properly meet your needs.

Rental properties

Like any form of business, property ownership can be less than hoped for. However, rental income, gearing, purchase, borrowings, management, appropriate structures, and advice are how XX help clients who rent commercial and residential properties.
Our aim is to ensure such investments generate the appropriate returns.
We assist in a variety of ways:
  • Advice on funding
  • Advice with purchasing
  • Cash flow analysis of property investment
  • Guidance in tax related areas including negative gearing and capital gains tax
  • Advice on ownership structures
  • Preparation of initial land tax returns and land tax variation returns

Trusts

Trust Advice

A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others. A trust can also be an effective structure for running your business.
We have extensive experience with trusts and are able to offer specialist advice on establishment and compliance, ensuring that all statutory requirements are met.
Clear Picture are also able to organise for the preparation and execution of documentation involved in Trust formation.
Our Trust administration service includes:
  • Minute keeping service
  • Annual accounts
  • Taxation
  • Maintenance of CGT register
  • Income distribution
We know the issues and requirements involved with managing Trusts and can help ensure these tasks are undertaken properly.

NZ Clients and temporary residency

NZ Clients and temporary residency

Clear Picture help New Zealand individuals and businesses — including temporary residents and recent arrivals — manage tax, compliance and financial planning so you can focus on settling in and growing your activities.

Services for NZ clients & temporary residents

  • Tax residency assessment and advice (determine NZ tax residency and obligations)
  • Income tax planning for residents and part-year taxfilers
  • PAYE, GST and IRD registration and compliance
  • Withholding taxes, foreign income disclosure and double tax relief guidance
  • Property tax, rental income and bright-line rule support
  • KiwiSaver advice, provisional tax and payroll setup for employers
  • Cross-border structuring and tax-efficient repatriation of funds
  • End-of-year tax returns, tax credits, and liaison with Inland Revenue

Get in touch for a tailored consultation to clarify your NZ tax position and compliance obligations.

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