Year End Strategies S J Canny October 2010 Newsletter

In this Year End Strategies newsletter from S J Canny find out more about the income test for the entrepreneurs tax offset, how the ATO is obtaining data from online sales and reminders for your diary.

Speaking with your customers

The days of one to many marketing are coming to an abrupt halt. Now it's all about many-to many, where the audience (or your potential customers) are participating in a more holistic brand experience. This is known as Integrated Marketing Communications, or IMC.

Income test for the entrepreneurs tax offset

Individuals claiming the entrepreneurs' tax offset (ETO) will need to complete a new income test as from income years beginning on or after 1 July 2009.

Business records are vital

For businesses operating in a fast paced and dynamic environment, the task of keeping records can fall secondary to everyday business operations. However, failing to efficiently keep up-to-date and comprehensive records can hurt your business’s long term operations.

A positive work environment

Your business is only as successful as its staff, for a train will not run on time if all engine parts do not work together.

ATO obtains data from online sales

The ATO is drawing upon the sales data resources of eBay and the Trading Post to assess the level of taxation compliance of individuals and businesses that sell goods and services online.

Do you have to pay fringe benefits tax?

Fringe benefits tax is separate from income tax and is based on the taxable value of the various fringe benefits you provide to your employees or your employees' associates. The fringe benefits year runs from 1 April to 31 March.

For your 2010 October to December diary

Important reminders for your 2010 October to December diary.

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