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DONT TRASH: Enjoy a quick read with your favourite cuppa
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February 2016

Hello Julie,

We're now one month into the new year, how are things going so far? Have you got all your plans in place? If not, we can help with budgeting, cashflow forecasting and general advice to help you ensure you reach your goals this year. Come in and see us or we can come to you.

This month we're bringing you:

  • 5 things you need to do to ensure your business is compliant
  • Top Marketing Tips for 2016
  • Reviewing your salary packaging arrangements

If you have any queries at all, please get in touch.

Cheers,
John Sciacca
IS YOUR COMPANY COMPLIANT?

What we don’t often do at the end of a calendar year is legal compliance housekeeping, but perhaps we should. Legislation and regulations change throughout the year and these have an impact on your business.  Perhaps your company took on more employees and has a higher turnover?  These are excellent indicators of growth and success but also have the potential to attract new legal obligations.

Here is a list of 5 commonly overlooked legal issues you should review to ensure that your company is compliant this year...

TOP TIPS FOR MARKETING THIS YEAR

Having been in marketing for over 10 years and last year undertaking business mentoring with one of the best small business programs in Australia, Julie Sawyer of 360 Results learnt a thing or two about what works and what doesn’t. The most important thing - change is constant and you have to keep up. 

Another thing she knows is that one size DOES NOT fit all! Every business has very different needs, resources and budgets. Its vital to ensure you are doing the RIGHT things for YOU!

Here are Julie's top tips for things you absolutely must DO to get the best possible return on your marketing this year...

REVIEWING YOUR SALARY PACKAGING ARRANGEMENTS

The new fringe benefits tax year starts on 1 April 2016. The following changes will take effect from this date.

Car expense fringe benefits

The rules for individuals claiming car expense deductions have changed.

As a result, if you reimburse expenses relating to an employee's use of their own car, only two methods will be available to calculate the taxable value of this fringe benefit (when you apply the 'otherwise deductible' rule).

The two methods are:

  • The log book method
  • The cents per kilometre method (a single rate of 66 cents per kilometre now applies).

Meal entertainment benefits

All salary packaged meal entertainment benefits will be reportable. They will also be subject to a separate cap of $5,000. Benefits exceeding this cap will be counted towards an employee’s existing FBT exemption or rebate cap.

Call 07 3357 5553
john@sciaccagroup.com.au
235 Stafford Road, Stafford 4053
PO Box 1570, Stafford 4053
www.sciaccagroup.com.au
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1 Feb  Feb fuel tax credit rates change

21 Feb  Jan monthly BAS due

28 Feb  Dec quarter BAS due

21 Mar  February monthly BAS due 

FREE WEBINARS

The ATO provides free webinars (online seminars) on a variety of topics delivered by experienced tax officers. For further details or to register, 
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Sciacca's Financial Services is an Authorised Representative of Count. 'Count' and Count Wealth Accountants® are trading names of Count Financial Limited, ABN 19 001 974 625 AFSL 227232 ("Count") a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124.
Copyright © 2016 Sciacca's Accountants and Advisers, All rights reserved.


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The content of this newsletter is provided for information purposes only. Sciacca's Accountants + Advisers does not accept liability to any person for the information or advice, or the use of such information or advice, provided herein. The information and advice provided is of a general nature only. No person should rely on it without seeking professional advice which takes account of their specific circumstances.