Section 1
Interest Rates, Banks, Bad Debts, Greece
How will these matters affect your planning?
- Prime bank interest rate now 4.5% and expected to be around 5.5% by the end of 2010.
- Debtors' payment days now 54.1 days (Dun & Bradstreet).
- Are you monitoring debtors so that you are not incurring bad debts?
- Banks are more active in closely monitoring SMEs for loan payments and operating within bank overdraft limits. Have you checked your reporting obligations to your bank/lender?
- Affect of the government's announced "super profit tax" on the resources industry and its effects on the large number of SMEs who provide products and services to the resources industry.
- Problems in Greece over enforced lender conditions on emergency loans. Could these problems extend to other European countries and affect bank lending policies worldwide, thus causing uncertainty to SMEs?
- The expected large number of businesses that will be listed for sale in the next 5 years as the baby boomers exit their businesses. Will there be buyers for these businesses who agree to pay the seller's asking price?
Each of these items could significantly affect your planning for 2010/11.
We can assist you in developing strategies to assist the long term performance of your business.
Article provided by Acclipse Business Advisor and ESS BIZTOOLS Pty Ltd.
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Section 2
| Date |
Category |
Description |
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12 May 2010
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Activity statements |
Quarter 3 (January – March 2010) activity statements - Final date for electronic lodgment and payment. Refer to Lodge your activity statements online to see if you are eligible for this later due date. |
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| 21 May 2010 |
FBT return |
Due date for lodgment of 2010 FBT return and payment (if required). |
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| 21 May 2010 |
Activity statements |
April 2010 monthly activity statements - Final date for lodgment and payment. |
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| 28 May 2010 |
Superannuation |
Superannuation guarantee charge statement – quarterly (NAT 9599) for quarter 3, 2009-10 (1 January – 31 March) - Applicable if required contributions were not made by the due date. The SGC is not tax-deductible. |
NOTE:
- As tax agents we will advise you when to lodge your income tax return and other required forms, as these dates may differ.
- When the due date for lodgment or payment falls on a Saturday, Sunday, or public holiday, it may be done on the next business day.
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Section 3
Federal Budget 2010 Issues For SMEs
The Federal Treasurer, Mr Wayne Swan, presented the Rudd Government's budget on 11th May 2010. The Treasurer indicated the budget was a "no frills budget - to put Australia back in surplus in 2 years". This special edition of Business Plus+ incorporates a summary of matters within the Federal Budget, the Henry Review and other initiatives that have commenced in 2010 that may affect SME operators. Other than those items which have already commenced in 2010, none of the items contained within the budget, nor the Henry Review, will become law until the budget has been passed by the House of Representatives and the Senate, and signed by the Executive Council.
Article provided by Acclipse Business Advisor and ESS BIZTOOLS Pty Ltd.
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