If you’re tempted by the ease of Mastercard PayPass or Visa payWave when you’re making a purchase, you’re not alone. In fact, it’s so common that many of us unconsciously pull out our cards to tap, and feel disappointed when smaller merchants do not yet have the ‘tap and go’ option. However, with more and more retailers adopting this contactless payment method, it’s important to consider how using it might affect your chances of getting a loan later. As you tap or hover your card over a payment machine to pay for your haircut, a new pair of jeans, your dinner, or even an impulse buy, your potential lenders are monitoring your every purchase. Why do they care, and how does this affect you lat

Salary and wages paid to an employed director are subject to the same superannuation guarantee law as any other employee. Directors fees, paid to a company director, are considered to be ordinary time earnings and therefore superannuation applies. However, payment for the performance of duties as a member of an executive body, such as a body corporate, may be deemed salary or wages which may not be “ordinary time earnings”, and therefore no super applies to these payments. If a director is engaged as a contractor principally for their labour then the ATO would deem them an employee for superannuation purposes. A director may legitimately be engaged as a contractor and yet super may still be