Welcome
Welcome to the final edi�on of Marsh Ma�ers for the year. Like us, you’ve probably
had a hec�c finish to the year and are looking forward to a break over the Christmas
period. On behalf of everyone at Marsh & Partners, I’d like to wish you and your
family a merry and safe Christmas and extend our best wishes for a happy 2014.
Firm News
Since our last edi�on we have welcomed the following staff to our firm:
Cy Yem - Accountant
Jeremey Stevens - Accountant
Kerry MacDonald - Team Assistant
We are also please to announce the safe arrival of two new members of the Marsh &
Partners family. Our warmest congratula�ons go to:
Paul and Maree Manteit on the birth of Samuel
Adam and Kristy Smith on the birth of Joel.
Fee Synergy
We recognise that effec�ve management of cash flow is cri�cal to the success of any
business. With this in mind we are pleased to announce that we are now able to offer
our business clients a monthly payment op�on. We have partnered with FeeSynergy
Finance Pty Ltd for the provision of this service.
The benefits for our clients :
• Improved cash flow - 8 months to pay our fee
• Direct Debit payments from Bank account or Credit Card
• Effec�vely an addi�onal line of credit without affec�ng exis�ng finance
arrangements
• Finance costs which are tax deduc�ble
Christmas Closure
Our office will be closed from 12.00pm on Friday the 20th of December 2013 and will
re-open at 8.30am on Thursday the 2nd of January 2014.
Bronwyn CondonBronwyn CondonBronwyn CondonBronwyn Condon
Partner
December 2013
► Welcome ► Important dates ► Government grants for your business ► Where will your business be in 3 years? ► Is there a storm brewing with your bank? ► HR Roundup - Cann Consul%ng
1 1 2 3 3 4
In this Issue
December
21st November 2013 Monthly BAS
January
21st December 2013 Monthly BAS
28th Oct - Dec 2013 Quarter SGC
February
21st January 2014 Monthly BAS
28th Oct - Dec 2013 Quarter BAS
Oct - Dec 2013 Quarter PAYG
Important Dates
Our partners Michael Marsh | Terry Brauer | Bronwyn Condon | Fred Pa�en
Our contact details Level 3, 74 Astor Terrace | Spring Hill | QLD 4000
GPO Box 3299 | Brisbane | QLD 4001
Phone (07) 3023 4800 | Fax (07) 3023 4899
Email [email protected]
Newsle3er enquiries [email protected]
www.marshpartners.com.au
www.121solu%ons.com.au
Please note that this publica�on is intended to provide a
general summary and should not be relied upon as a subs�tute
for personal advice.
R & D Tax Incen%ve The R & D Tax Incen�ve is accessible to all
sectors and provides a tax offset to
encourage companies to par�cipate in
research and development. R & D ac�vi�es
are defined as being ‘experimental’ and
conducted for the purpose of genera�ng
‘new knowledge’ such as improved
products, processes, services or materials.
• Eligible companies with a turnover of
less than $20 million per annum can
receive a refundable tax offset of 45%.
Those with a turnover of more than $20
million per annum can receive a non-
refundable tax offset of 40%.
• Directly related suppor�ng ac�vi�es
such as market research, management
studies, soKware development,
standards compliance etc are also
eligible as R & D
• Registra�on of R & D ac�vi�es must
take place annually with AusIndustry
and within 10 months aKer the end of
the company’s income year in which
the ac�vi�es were carried out. For the
year ended 30 June 2013, registra�on
must be made by 31 April 2014 to be
able to claim in the 2013 tax return.
Commercialisa%on Australia Commercialisa�on Australia is a
compe��ve, merit-based program offering
funding and resources to help innova�ve
companies take their IP to market.
Assistance is provided via four key
components:
• Skills and Knowledge - up to $50,000 to
purchase expert advice and services
• Experienced Execu�ves – up to
$350,000 over two years to engage a
CEO or other execu�ve
• Proof of Concept – up to $250,000 to
establish the commercial viability of a
new product, process or service
• Early Stage Commercialisa�on – up to
$2 million to take the new IP to market
Export Market Development Grants
(EMDG) The EMDG scheme is a key Australian
Government financial assistance program
aimed primarily at aspiring and current
exporters. Administered by Austrade, the
program encourages SMEs to develop
export markets by reimbursing up to 50 per
cent of eligible export promo�on expenses
above $10,000, provided the total expenses
are at least $20,000. Eligible expenses may
include overseas marke�ng visits, hiring
marke�ng consultants, overseas
representa�ves, communica�on costs,
promo�onal literature/adver�sing and
some interna�onal patent expenses.
Legisla�on is currently before Parliament to
extend the current number of claims from
seven to eight and there is an expecta�on
that the new Government will broaden the
expenditure criteria.
Clean Technology Innova%on Program As a result of the new Government’s plan to
abolish the Carbon Tax, funding will be
discon�nued for the Clean Technology
Innova�on Program. Arrangements for
current applicants are yet to be announced
by AusIndustry.
While Government schemes present a
significant opportunity for SMEs they
can also be a %me consuming and
challenging process. Marsh &
Partners have specialist staff available
to help ascertain your eligibility and
guide you through the grant process.
We encourage you to contact us for
further informa%on and advice.
AusIndustry
www.ausindustry.gov.au
Commercialisa%on Australia
www.commercialisa�onaustralia.
gov.au
Australian Taxa%on Office
www.ato.gov.au/Business/
Research-and-development-tax-
concession/
The Australian Government currently has a range of incen%ves and opportuni%es available to assist
business growth and priority sectors. Each year billions of dollars are made available to business, yet
most do not know how to apply or if they are eligible. Ge@ng the right advice on available programs
could mean your business gets the boost it needs to innovate, expand or export.
Unfortunately this is a result of the current
economic condi�ons. Lenders are
increasingly difficult to deal with.
Businesses and property buyers are asking
for more with less. We used to make more
money and our proper�es were more
valuable which meant lenders had security if
anything went wrong.
How is your bank trea�ng you at the
moment?
Do you feel like you are under pressure?
How certain are you about your banking
rela�onships?
If you are having difficulty communica�ng
with your bank it might help to remember
the following:
• It may sound obvious but ensure all
your numbers line up. If your budget
says one thing, then all the back up data
has to say the same. We are long past
the days of giving a bank an excel
spreadsheet and them taking it for
granted. Today it is uploaded, analysed,
analysed again and inaccuracies will
always be picked up.
• All the informa�on that goes to the
bank should come from one individual.
This gives the bank more confidence
that your business knows what it is
doing. If informa�on comes from
different people in the organisa�on it is
more likely that things won’t add up –
literally.
• Speak their language. If you are not
confident in talking “bank talk” then
find someone who is. If everyone talks
the same language then there is no
confusion and it makes the process a lot
more efficient.
• Be proac�ve. If businesses in your
industry are closing down the bank may
be watching you more closely. Be
proac�ve with them about what is
going on in your business. Don’t forget
they can see what is happening with
your transac�onal business so the
earlier you talk to them the be�er.
The bank reviews your company’s
borrowings all the %me but how oBen do
you review your banking rela%onship? The
best %me to do this is when you don’t
want anything from the bank so you can
really test the strength of the rela%onship.
Marsh & Partners have assisted many of
our clients in reviewing their finance
requirements and nego%a%ng with their
bank. Please contact us for further advice.
In our last newsle�er we spoke about the importance of your business
having a strategic plan in place. A strategy is a long term commitment
to ‘big picture’ goals and provides focus, direc�on and purpose for your
business ac�vi�es.
A strategic plan communicates your mission to everyone involved in
your business and breaks down the ‘big picture’ into ac�onable goals
and objec�ves
Developing a strategy for your business will typically begin with defining
your vision, your values and assessing your Strengths, Weaknesses,
Opportuni�es and Threats (SWOT).
You might also start by thinking about where you want your business to
be in 3 or 5 years �me. What does it look like? Have you capitalised on
your opportuni�es? Have you considered all of the threats? Have you
op�mised your strengths?
Once you have a clear picture of how your future business looks, it’s
�me to think about how to make that happen.
Long term goals such as a 3 or 5 year business plan need to be
accompanied by short term goals. Why? Because 3 years is a long �me
to go without having achieved a goal. Short term goals give you a sense
of accomplishment and keep you on track. Long term goals give you a
focus for the future. When we set short term goals we are breaking
down our strategy (long term goals) into relevant, measurable and
a�ainable elements.
As goals connect your business strategy to your results it is vital to make
sure they are moving you in the right direc�on. Keep in mind that a
SMART goal must be:
Specific – is it an accurate defini�on of the expected outcome?
Measurable – can you assess your progress?
Achievable – is the goal within reach given where you are now?
Relevant – are you focused on the right thing?
Time-bound – what is the deadline for comple�on?
A SMART goal is able to be translated into key ac�vi�es required to
accomplish the goal. We refer to this as an Ac%on Plan. An Ac�on Plan
specifies the resources required, who is responsible and when it will be
completed by. SMART goals and Ac�on Plans increase the likelihood of a
goal being worked on and being achieved.
121 Business Solu�ons work with business owners to clarify their goals
in rela�on to strategy, develop Ac�on Plans and monitor progress. Have
you implemented a strategic plan for your business? Do you need help
to start the process? Do you simply need assistance to fine tune it?
Give 121 a call to take your business plans further.
Is there a storm brewing with your bank?
Picture this: a family-owned business has borrowings of $500,000. The owner has had an excellent
rela%onship with his banker for years. When business was booming the bank wanted to lend more
money and provide other services. Then the company’s sales decrease, profits fall and a rou%ne lending
review reveals a significantly changed rela%onship.
As your business looks to 2014, it’s
important to be aware of changes to
the Fair Work Act and workers
compensa%on legisla%on.
These changes include:
• New an�-bullying measures
commencing 1 January 2014
• Changes to Queensland Workers Comp
legisla�on effec�ve 29 October 2013
• Parental Leave and Flexible Working
Arrangements changes which were
effec�ve 1 July 2013
Bullying in the Workplace
With the new bullying laws coming into
effect from 1 January 2014, is your business
ready to defend a claim if required?
The laws now allow those who are being
bullied to go directly to the Fair Work
Commission (FWC) to seek an order. The
FWC will make whatever order they see fit
and these orders will likely require
employers to ensure that the bullying stops
and that the perpetrator (or even the en�re
staff) undergoes training aimed at improving
the culture in the workplace.
Whilst this is a posi�ve step towards making
business owners more accountable for the
culture within their workplaces, there is no
requirement for employees to first follow
workplace grievance procedures before
making a complaint.
We believe that a detailed Code of Conduct
outlining the minimum standard of conduct
and behaviour at the workplace is an
effec�ve tool to ensure your culture is
understood by all staff.
Changes to Workers Compensa%on
Legisla%on
The Workers' Compensa�on and
Rehabilita�on and Other Legisla�on
Amendment Bill 2013 is now law. The Bill
makes a number of changes to the Workers'
Compensa�on and Rehabilita�on Act 2003
that will benefit employers, including:
• Requiring a prospec�ve worker to
disclose a pre-exis�ng injury or medical
condi�on, if requested to do so;
• Allowing employers access to a
prospec�ve worker's claims history in
par�cular circumstances; and
• Increasing the threshold for
compensable psychiatric or
psychological injuries.
Cann Consul�ng can advise on how future
recruitment and selec�on prac�ces can be
undertaken in rela�on to pre-exis�ng injury
requests, so call us to discuss.
Parental Leave and Flexible Working
Arrangements Changes
Employees get unpaid parental leave when
a new child is born or adopted. Parental
leave includes maternity leave (for mums),
paternity leave (for dads and partners) and
adop�on leave as well as other types of
special leave.
The key changes that were effec�ve from
the 1 July 2013 are listed below:
• Transfer to a safe job has been
extended to employees with fewer
than 12 months service.
• Special maternity leave does not count
as unpaid parental leave where an
employee needs to take leave early due
to a pregnancy issue.
• An employee couple can access
concurrent leave up to 8 weeks.
Some employees have the right to ask for
flexible working arrangements, which can
only be refused for certain reasons. These
en�tlements come from the Na�onal
Employment Standards.
The key changes that were effec�ve from
the 1 July 2013 are the right to request
flexible working arrangements which have
been extended to:
• Employees with caring requirements
• Parents or guardians of children school
age or younger
• Employees with a disability
• Employees 55 or older
• Employees experiencing family or
domes�c violence
• Employees who are caring for or
suppor�ng an immediate family or
household member who requires care
or support because of family or
domes�c violence.
Requests are required to be considered on
reasonable business grounds.
We recommend you check your policies and
procedures to ensure they are compliant
with these changes. Please contact us if you
require assistance with this process.
Mandy Cann
1300 66 42 40
www.cannconsul%ng.com.au