Sullivan Dewing News

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Are you on the cashflow rollercoaster?

Jennifer Palmer - Dec 2012

The rollercoaster ride of living from a sales flood to drought can often be unnerving and stressful for both the uninitiated as well as the seasoned business owner.
Planning is the key to survival, and realistic cashflow planning is a business’ best friend.  This planning though need not be complicated.  Keep it simple, be reasonable with revenue estimates, and also with your outgoings! Read More


Are you leading your business or is it leading you?

Jennifer Palmer - Nov 2012

A common problem experienced by small business owners is a lack of time to focus on building their business. They understand that to be successful, the business should run independently of themselves, should have the right people, right systems, right customers and be making a profit. Read More


Great news for SMSF Funds

Jennifer Palmer - Nov 2012

In the lead up to the review there were a lot of discussions around cutting superannuation tax concessions ... as if they have not done that enough recently with the reduction of allowable contributions. Read More


Grow Your Sales: Don’t Cut Costs

Jennifer Palmer - Nov 2012

We hear of the Euro crisis and that China is pulling back on their growth. Absolutely correct, but some economists say that this has no affect on you. Read More


Retention of Title – No longer Valid

Jennifer Palmer - Nov 2012

A supplier of goods under credit can now register its security interest in such goods under the Personal Properties Securities Act. Goods are also cars, boats, machinery and raw materials. A lender of money can also register a security interest. The registration secures payment or performance of an obligation. The registration process is simple and is completed online by visiting www.ppsr.gov.auRead More


Not everyone gets away with it all of the time

Jennifer Palmer - Sep 2012

An interesting headline I am sure you agree.  But what is it referring to? Read More


Profit: Are you getting any?

Jennifer Palmer - Aug 2012

This family run business certainly wasn't!  Have a look at what they did about it... Read More


Have you joined the SMSF growth industry?

Jennifer Palmer - Aug 2012

Baby Boomers Read More


Marketing Help On-line

Jennifer Palmer - Aug 2012

To keep it simple, "marketing is anything you do to keep a customer". Read More


Fringe Benefits Tax and Entertainment

Jennifer Palmer - Aug 2012

The Fringe Benefits Tax (FBT)

FBT is paid on certain benefits employers that provide to their employees or their employees' associates.  Did you know that Entertainment can be considered a fringe benefit?

According to legislation the provision of entertainment can be by way of food, drink or recreation and includes accommodation or travel in connection with such. This includes amusement activities, sporting events and similar leisure pursuits.

How to identify whether the provision of food or drink is entertainment?

You will need to examine the circumstances surrounding the provision of the food and drink.  All of the following factors are considered relevant:

  • Why the food or drink is being provided?
    This is the purpose test.  Is the food and drink for refreshment purposes or for the purpose of the employee to enjoy themselves?

  • What food and drink is being provided?
    Generally morning and afternoon teas or a light lunch is not considered entertainment.  However the more elaborate the meal the more likely entertainment arises.

  • When is the food or drink being provided?
    Food or drink provided during work hours, during overtime or when an employee is traveling is less likely to be considered as entertainment.

  • Where is the food or drink being provided?
    Food or drink provided on the employer’s premises is less likely to have the character of entertainment.

The golden rule is “where there is alcohol or fun involved the expenditure is more likely to be entertainment”.

For further information visit Fringe benefits tax and entertainment - a guide for employers or contact Sullivan Dewing on 9526 1211.

 Read More


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