More Top Level Domains – consultation invited

June 18, 2010
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Generic top level domains (gTLDs) are the last part of a domain name, such as “.com” or “.net”. Currently there are 21 gTLDs that can be used worldwide.
 The Internet Corporation for Assigned Names and Numbers (ICANN) is developing a new process to allow any organisation to introduce its own gTLD. This means that gTLDs in [...]

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Low Income Tax Offset for 2010

June 16, 2010
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For whatever reason, “low income tax offset” has been the most commonly searched for phrase on our main site and blog since they both began in 2007. 
So, what is it? Well, it’s a non-refundable tax offset. This means it can reduce your tax liability (sometimes to zero) but you won’t receive a refund of any unused portion. [...]

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HELP Repayment Rates for 2010

June 16, 2010
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When do you have to start paying back that HELP debt?
The following rates and compulsory repayment thresholds apply for the 2009-10 financial year:  

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Medicare Levy Low Income Thresholds for 2010

June 16, 2010
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The rate of the Medicare levy is 1.5% of taxable income.  In some cases, you may be exempt from the medicare levy or eligible for a reduction based on family income.
The Medicare Levy is not payable (or is payable at reduced rates) by individuals and families on low incomes and by certain pensioners.
Individuals
The 2009-10 Medicare [...]

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Personal Income Tax Rates for 2010

June 16, 2010
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As we head into the new financial year, I’ll be posting some of the most commonly searched for tax titbits… rates, rebates, deductions, etc.
When it comes to personal tax thresholds, the table you will use depends on whether you are considered a “resident for tax purposes” or not.

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Planning for the 2010/11 Financial Year

June 15, 2010
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June is a great time to take time out and think about the challenges you may face in an economy that is presenting many challenges for a large number of small businesses. Some of the challenges include:-
Business Goals – The debate on the Resource Super Profits Tax has highlighted not only the projected difficulties for [...]

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Monday Post Roundup 14/6/10

June 14, 2010
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The Monday Post Roundup series is a quick way for you to access all the posts published the previous week. This can come in handy if you are short on time (aren’t we all?) or missed something of interest to you.
It has been so busy lately, I haven’t managed a post roundup in a couple of [...]

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Do Your Customers Recommend Your Business?

June 14, 2010
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Okay, it’s question time:

Do your customers say “WOW“?
Do they recommend your business to their friends and associates?
Do you acknowledge long-term clients for their continuous support of your business?
Do you send letters to new customers thanking them for their patronage?
Do you encourage customers to give you referrals to their friends and associates?
Do you ask clients for [...]

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Do You Operate Through a Trust?

June 13, 2010
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The Australian Taxation Office has released a Taxation Ruling – Division 7A Loans: Trust Entitlements.  The ruling expresses the Commissioner of Taxation’s opinion on the circumstances in which a private company with a “present entitlement to an amount from an associated trust”, makes a loan to that trust in circumstances where funds representing that present [...]

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Early Stage Commercialisation Repayable Grants

June 13, 2010
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To be eligible for the Australian Government Early Stage Commercialisation Repayable Grants, applicants must have ownership, access to, or the beneficial use of any intellectual property necessary to carry out and/or commercialise the project being funded by Commercialisation Australia.
Grants are available to undertake activities focusing on enabling a new product, process or service to be [...]

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Stress and the Small Business Operator #2

June 11, 2010
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In the post titled, Stress and the Small Business Operator #1, we listed some of the common causes of stress for small businesss owners.
These include:

Inability to find workers who do the job as well as you do;
Employees not always turning up – leaving you with more to do;
Insufficient earnings; 
Long hours;
Inability to get away for a break or holiday [...]

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Be on the Watch for Unsolicited Share Offers

June 10, 2010
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ASIC has joined some of Australia’s largest listed companies in warning investors to carefully consider unsolicited offers to buy their shares.
ASIC has received reports that many Australian shareholders are receiving offers for their shareholdings at prices significantly below what they could expect on the market.
Inexperienced or elderly shareholders, or those under immediate financial pressure, are [...]

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Investment Decisions – do your research!

June 10, 2010
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Are you considering s tax-effective investment? It’s important you have all the facts to make an informed decision.
Some investments offer tax benefits such as reducing assessable income or increasing deductions, but end up being outside the law.  You can check with the ATO to ensure promised tax benefits will be available.
Find out as much as [...]

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Building a Cash Cushion

June 9, 2010
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Building a financial cushion for your business is never easy. Experts say that businesses should have anywhere from six to nine months worth of income safely stored away in the bank. If you’re a business grossing $250,000 per month, the mere thought of saving over $1.5 million dollars in a savings account will either have [...]

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Are you a business in the textile, clothing or footwear industries?

June 9, 2010
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The Textile, Clothing and Footwear Strategic Capability Program (TCF SCP) offers grants to businesses that will boost innovative capability and help provide growth in these industries.
The minimum grant size is $250 000 and funding must be matched on a dollar for dollar basis.  
Round 1 of the TCF SCP closes on 6 August 2010. To assist [...]

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