P. 07 5536 2111 | F. 07 5536 3933
sullivan rees logo
E.

Negotiating with customers

Knowing how to negotiate with customers is imperative to a business’s success. Salespeople need to be able to understand what the customer wants, set objectives, negotiate a higher price and also close the deal smoothly.

The following techniques are designed to help businesses and buyers come to a mutually beneficial conclusion.

State your purpose
It is fundamental to make the customer feel like you’re working with them, not against them. Begin a negotiation by stating an ideal outcome that’s good for both yourself and the other person. Using language like ‘best possible solution’ can show that you’re striving for a deal where both parties benefit, rather than one party benefiting at the expense of the other.

Be honest
Avoid using tactics designed to force the buyer’s hand. Never threaten to back out of the deal at the last minute or make them feel guilty. Instead, be transparent about the compromises you’re making.

Build rapport
Build rapport with the other person by matching their way of speaking. Use the same words and phrases, talk at a similar pace and echo their tone, whether it be casual, professional or humourous. To make this strategy more effective, you can also create some goodwill by paying them a genuine compliment.

Engage in active listening
Good negotiators spend most of the conversation asking questions and listening to build trust, rapport and gather information. Show the buyer you’re engaged and paying attention by recapping what they say, asking confirmation questions and avoiding interrupting or answering too quickly.

Accounting
services

In the constantly changing business environment, you can rely on our business services team to be expert, up-to-date and ready at hand to assist you with your business matters...

Business
services

Thinking strategically about future changes in the marketplace can be the key to running a sustainable business...

company
secretarial

Communication and effective administration are essential elements of a successful organisation. Regardless of the size of your business, we are ready to support you...

finance
services

We can help you to secure the essential finance for you and your business....

managing your wealth

We can help ensure that your personal wealth is managed as tax-efficiently as possible. ...

tax services

We regularly deal with a broad range of personal and corporate taxation issues and make a point of understanding the individual needs of every client. Whether you need advice on company tax, personal tax effectiveness or indirect taxation....

specialist services

In addition to our normal services, we have a developed specialist knowledge and expertise in Self-Managed Superannuation Funds....

firm news

No More Shortcuts: The Methods You Can Use To Claim WFH Expenses

Posted on March 25, 2024 by admin

Ensure you’re up to date on how to claim your working-from-home expenses!

As the business landscape shifts back and forth between office, hybrid and home-based work opportunities, it’s important to remember what methods are available to you when it comes to claiming. If part of your role allows you to work from home, you may be able to claim certain expenses on your tax return this year using one of the following methods.

The Revised Fixed Rate Method:

Under the revised fixed rate method, individuals can claim 67 cents per hour worked from home during the relevant income year. This rate includes additional running expenses, such as home and mobile internet or data, phone usage, and electricity and gas for heating, cooling, and lighting. Importantly, using this method, you cannot claim separate deductions for these expenses.

To use this method, taxpayers must maintain records of the total number of hours worked from home and the expenses incurred while working at home. Additionally, they must keep records of expenses not covered by the fixed rate per work hour, demonstrating the work-related portion of those expenses.

What Records Do You Need?

Previously, taxpayers required a dedicated workspace at home. From 1st March 2023 onwards, the record-keeping requirement has shifted again, necessitating the recording of all hours worked from home as they occur.

How Does The Fixed Rate Method Work?

To utilise the revised fixed rate method:

The Actual Cost Method:

Alternatively, taxpayers can opt for the actual cost method, where deductions are calculated based on actual additional expenses incurred while working from home. This includes expenses for depreciating assets, energy expenses, phone and internet, stationery, computer consumables, and cleaning dedicated home offices.

What Records Do You Need?

To claim work-from-home expenses using actual costs, you must maintain records showing:

How Does The Actual Cost Method Work?

To claim actual expenses:

Australians need to understand their entitlements and tax deductions while working remotely.

Consulting with a tax advisor can provide valuable insights into available concessions, deductions, and offsets for your tax return.

By staying informed and adhering to ATO guidelines, taxpayers can ensure compliance and make the most of available deductions in the evolving landscape of remote work. Why not start a conversation with us today?

sullivan rees