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 mail@marshpartners.com.au

Newsle3er enquiries elouise.jennings@marshpartners.com.au

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