Are you ready for SuperStream?
JUNE 30 DEADLINE APPROACHING
ARE YOU READY?
If you’re not already paying super using SuperStream it’s important you get started! All employers need to use it when paying super.
There are a number of options you can choose to implement SuperStream. Depending on what works best for your business, you can choose from:
- your super fund’s online system
- a clearing house
- a payroll system that is SuperStream ready
- a messaging portal
If you’re not sure what solution is best for you, we can help.
The ATO also offers the Small Business Superannuation Clearing House as a free online service you can use.
To assist you get ready, take a look at the step-by-step checklist available on the ATO website.
Here’s what you need to do if you haven’t set up yet:
Sciacca’s News – May 2016
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It’s May and the Budget is here! Read about the changes and how it impacts on you. We are also excited to bring you a new initiative we’re working on to encourage referrals between our clients. Read all about it below.
In this month’s update we’re bringing you:
- 2016 Budget Update
- Checklist to get ready for SuperStream
- Sciacca Referral Network
>> READ MORE
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Sciacca’s News – April 2016
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We’re now in the last quarter of this financial year and it’s the perfect time to start planning! Book in to see us so we can check you’re on track and not paying too much tax!
In this month’s update we’re bringing you:
- 2016 Tax Planning Guide
- Tax concessions for small business
- Simpler ways to claim fuel tax credits
>> READ MORE
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Sciacca’s News – March 2016
Does it feel like you’re quick-marching through the new year? As we approach the end of the first quarter, its a good time to review where you’re tracking against your goals for the year. If you need some help, remember we’re here to help!
In this month’s update we’re bringing you:
- Short term workers – employees or contractors
- Webinar – New laws to protect against unfair contract terms
- New rules for claiming car expenses
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…
START WITH STRATEGY
To ensure you have a clear vision, maintain focus, implement what’s needed and get results, you need a strategy. I can’t stress this enough. Taking the time to really get clear on what you want and understanding how you can get it is key to everything you do. Working with a consultant can help you with advice, tips and tools to really take it to the next level.
BE ACCOUNTABLE TO YOUR PLAN
Once you are clear on what needs to happen, your plan must be implemented! Too often I see businesses lose momentum and things don’t get done. You need some accountability to ensure that you keep moving forward.
SET A REALISTIC BUDGET
One of the biggest mistakes I see businesses make is not having a marketing budget. Having a clear strategy will give you an indication of what you will need to put aside to make things happen. Get some advice from your accountant and/or marketing consultant of how much you’ll need to invest to grow your business.
Reviewing Salary Packaging Arrangements
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.
Sciacca’s News – February 2016
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 in Sciacca’s News 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.
Sciacca’s News – January 2016
Welcome to the new year! We’re also now halfway through the financial year.
This month we’re looking at updates on:
- Reminder to get SuperStream ready
- Changes to car allowance
- February fuel tax credit rates change
If you have any queries at all, please get in touch.
We wish you all a safe and happy Christmas
The team at Sciacca’s Accountants + Advisors wish you all a safe and happy Christmas and a prosperous new year.We look forward to working with you in 2016. |
Sciacca’s News – December 2015
As we come to the end of 2015, the words that come to mind are “thank you.” This has been an amazing year.
We thank you for your continued support and wish you and your loved ones a joyful and relaxing holiday season.
All the best in 2016 and beyond!
Best regards from the entire Sciacca Group team.