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| 18th September 2012 |
Issue 36/2012
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| GST still making waves | |
This week the Victorian Government threw its weight behind the push to lower the GST threshold.
It is not hard to see why the State Governments are getting behind this push.
It seems every state Government is desperately seeking ways to ensure their state budget comes out with a surplus.
To do this they face massively unpopular cuts in education, public service, and here in Victoria, the Fire Services to mention just a few.
When Ernst and Young told the Victorian Government that lowering the GST threshold would bring them $550+ Million dollars over the next three years I am sure they just about fell off their chars scrambling to find ways to get access to this bounty.
Over the last few years many industry associations have been lobbying the Federal Government to lower the GST and often fallen on deaf ears as being 'too hard'.
It looks like a change of tack is required for these industry associations, if you want action hit the people that are feeling the pain the most - State Governments!
In other news we heard this week from long time industry stalwart Russell Hester, whilst still working as an independent contractor but he has just taken on the Head Office accounts for Kaiser Baas!
Good on you Russell, as you said 'they can't kill us off!'
Kind Regards
Glynn Lavender
Editor
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Your PMA Australia Executive
National Chairperson
Phil Gresham
philip@fotofast.com.au
Eastern Region TVP
and NSW Chairperson
John Ralph
jrcamerahouse@bigpond.com
WA, SA, NT, QLD TVP
and QLD Chairperson
Andrew Mason
print@photocontinental.com.au
TAS Chairperson
Tim Jones
tim@perfectprints.com.au
VIC Chairperson
Jeff Crowley
jeff.crowley@fujifilm.com.au
SA Chairperson
Paul Atkins
paul@atkins.com.au
WA Chairperson
Murray Gibbs
murray@ggch.com.au
Director of Australian Activities
Peter Rose
prose@pmai.org
Australian Directors for PMA
John Paxton
jpaxton@paxtons.com.au
Len Sandler
len.sandler@starshots.com.au
PPFA Chairperson
Bob Smith
bob@classicframing.com.au
APCI Chairperson
Paul Atkins
paul@atkins.com.au
PSPA Chairperson
Paul Dawson
pd@hydrophotographics.com.au
PIEA Chairperson
Earle Bridger
e.bridger@griffith.edu.au
PMA Australia Office
02 9454 2444
pmaaustralia@pmai.org
Editor
Glynn Lavender
pmaaustralia@pmai.org
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The Victorian Government backs lowering GST threshold | |
STATE Treasurer Kim Wells has backed plans to impose GST on online foreign purchases after a new report found such a move could boost Victoria's bottom line by more than $500 million over three years.
The report, by Ernst & Young, estimates scrapping the so-called low-value threshold - where goods bought online worth less than $1000 escape the GST - would raise $564 million over the next three years for Victoria.
Mr Wells said Victoria had been saddled with a large cut in GST funding at a time when the Commonwealth was expecting it to deliver more services.
''The Commonwealth should reconsider the revision of the low-value threshold if a cost-effective method for collecting the payments can be made and the overall benefit to Australian consumers and businesses justifies it,'' Mr Wells said.
Local retailers argue they are at a serious disadvantage, warning of widespread job losses and ongoing business closures triggered by cut-price online competition.
Ernst & Young has concluded that 118,000 traditional retail jobs will be lost in Australia by 2015 because of the switch to online retailing - representing the demise of one in 11 traditional retail jobs. It said most of those job losses would be in typical non-food sectors, such as department stores, electronic shops and clothes stores.
Courtesy
The Age
Josh Gordon September 15, 2012
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NSW Free Tenancy Forum - ARA
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If you are based in NSW and have upcoming tenancy discussions then take the time to attend this Forum before you enter into them.
The Australian Retailers Association (ARA) invites you to attend a free tenancy discussion forum. With tenancy being one of the most crucial issues for retailers, the ARA is hosting a tenancy forum for retailers to share their leasing negotiation experiences to help inform ARA's retail leasing policy work.
ARA Executive Director Russell Zimmerman will provide an update on the ARA's tenancy work, where the leasing market is currently at and recent leasing trends.
NSW Small Business Commissioner Yasmin King will also provide an overview of the current activities of her office including dispute resolution, business support and advocacy services.
Retailers are encouraged to share their tenancy success stories, challenging leasing situations, tips for future negotiations and suggestions for ARA's lease legislation lobbying with state and federal governments, in a confidential, open-forum environment.
This is a great opportunity to hear from your fellow retail peers and be updated on the current leasing environment.
WHAT: Tenancy discussion forum
WHEN: Thursday 11 October 2012, 7:30am (for 8am start) - 10:00am; a continental breakfast will be served
WHERE: Moore Park Golf - Cnr Anzac Pde & Cleveland St, Moore Park, Sydney
Click here to view map www.mooreparkgolf.com.au/about_us/location
PARKING: Free parking is available at Moore Park Golf
COST: Free event
RSVP: events@retail.org.au by Thursday 4 October with your full name, company name and position or call 1300 368 041
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Jeff Crowley pedals for the kids! | |
Hi guys,
On Sunday 21st October, I will be riding in the 20th Bupa Around the Bay bike ride to support Aussie kids in need.
Right now, 1 in 10 Aussie kids are living in disadvantage.
At school, these children don't have the basics like a school bag, complete uniform or the schoolbooks they need to make the most of their education.
As a result, they are often teased or left out by other students.
I am raising funds to support Aussie kids in need - an extremely worthy cause and I would really appreciate your support.
Please visit this link to sponsor my ride:
It will only take a few minutes and a tax deductible receipt will be emailed to you immediately!
Your support will ensure The Smith Family can continue their work to help Aussie kids in need to allow them to create better futures for themselves.
Let's work together to give these kids the chance to realise their full potential.
Thanks
Jeff
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| Having cash flow problems in your business? | |
With the new director penalty regime now in force, it is more important than ever to seek help and advice when a business encounters cash flow problems.
Often the first financial commitment that a cash-strapped business ignores is the payments administered by the ATO. These include Pay as You Go Withholding (PAYGW) deductions from employees and the 9% compulsory superannuation contributions.
Directors can now be personally liable.
The new director penalty regime received Royal Assent on 29 June 2012 and from this date, the regime has been extended to include not only PAYGW obligations, but also the 9% compulsory superannuation contributions. The new regime also limits the defences available to a director, significantly impacting their personal liability. Previously, a director could escape personal liability by appointing an administrator or beginning the winding up of the company before the 21 day period following the service of a director penalty notice. Under the new regime, if a PAYGW liability or Superannuation Guarantee Charge (SGC) remains unreported and unpaid for three months, a director cannot escape personal liability.
Reporting obligations
As the new regime applies to unreported and unpaid PAYGW and SGC amounts, it is important to ensure your reporting obligations are met. This is because once the three months has lapsed, unreported obligations become a personal liability of the director. In the event the ATO issues a director penalty notice (DPN), a director cannot escape personal liability by winding up the company for any amount that was not reported within three months of being due, regardless if it was reported by the time the DPN is issued.
For PAYGW, the three months starts on the day the BAS or IAS is due. For SGC, the three months starts when a Superannuation Guarantee Statement is due to be lodged. This statement is only required to be lodged when you have not paid your 9% compulsory superannuation contributions by the due date and is required to be lodged within one month of this date. So, application of the new regime in relation to PAYGW will be somewhat retrospective as it will apply to unreported and unpaid amounts at 30 June 2012, and for the SGC, it applies only in respect of superannuation contributions due for the quarter ending 30 June 2012.
To ensure your exposure is minimised in relation to this new regime, you need to ensure your reporting obligations are met even where there are cash flow problems. In the event your business is having cash flow problems you can contact the ATO and negotiate a payment plan and your accountant to work through a cash flow strategy with you. Once you are in a payment plan with the ATO, it is very important that you comply with the terms of the plan and continue to be compliant with lodgements and superannuation payments.
The reality is that we are seeing increased activity with the ATO in their collections and issue of director penalty notices so it is more important than ever to remain compliant and up to date with your lodgement obligations.
© Copyright Biz-e-News
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Retail Industry at risk of digital disruption - Connected Australia | |
New research from Deloitte has found the retail industry is at risk of 'digital disruption' as it lacks a response plan for tackling the changing digital landscape.
The Deloitte report titled "Digital disruption - Short fuse, big bang?" suggests the success and failure of businesses lies within their response to the 'length of the fuse and the size of the bang'.
The digital revolution has delivered changes to the workforce and supply chains, however Deloitte Access Economics director, Dr Ric Simes said there is lack of information around how to face the unprecedented challenges brought about with the online world.
"As we saw in the recent company reporting season, digital innovations are transforming the economic landscape, far more profoundly than other big shifts in our economic history such as deregulation, oil shocks or mining booms," he said.
"Digital innovations and disruptors are powerful, pervasive and have multiple indirect impacts. They reduce barriers to entry, blur category boundaries, and open doors for a new generation of entrepreneurs and smart thinkers," commented Simes.
"At the same time, incumbent market leaders face substantial pressures which they need to manage if they are to thrive, let alone survive."
He said the workforce is changing as a result of digital disruptions, while some jobs will disappear, new jobs in social media, apps and the cloud will emerge.
Retail is one of the six industries, representing about one third of the $1.4 trillion Australian economy, expected to experience significant digital disruption in the near future.
The research recommends three steps for minimizing the threat of digital disruption: recalibrating cost structures, replenishing revenue streams and reshaping corporate strategies.
By
Shivaun Hales
Connected Australia |
| PMA Calendar 2012 | |
Tuesday 18th September PMA QLD Meeting
Pig N' Whistle Riverside
Brisbane |
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