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"Keeping the busy professional informed" Welcome to our first issue of The Quintessential Brief in 2011. With almost a quarter of the year over all ready, we hope that you had a chance for a little rest and relaxation over the break and spent some well earned time with family and friends. In March 2011, The Quintessential Brief includes information on a range of topical legal and tax issues. We examine the national impact of the new consumer laws that came into effect on 1 January 2011, replacing the pre-existing State, Territory and Commonwealth laws. We also look at colour and trademarking – using the Whiskas and Cadbury cases as examples of when colour is so closely related to the brand, it can become part of a trademark. Fringe Benefits Tax is payable by 21 May 2011 and inside you will find some general information about how the FBT is levied and whether or not your business may be liable; as well as a discussion about personal cash flow and the benefits of budgeting and saving. For small businesses, we explore the function and importance of setting clear, measurable goals within the format of a thorough business plan. In addition, we list the top factors that will influence the selling price of a business; essential things to consider for any business owner who is considering selling. We feature a contribution from Clarity Marketing examining the psychological impacts of colour when used effectively in marketing, product packaging and branding; as well as some tips for effective online marketing. We hope that you find the information contained in The Quintessential Brief beneficial. If there are any legal, tax or accounting issues that you would like us to address in future editions, please contact us on 1300 QUINNS or visit our website www.quinns.com.au and submit an online enquiry. You can also register online to receive the latest legal, accounting and financial news update each week via our Client Alerts. On behalf of all of us at Quinns, we hope that your year is off to a great start and we wish you all the best for a fantastic 2011! Regards Michael |
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Your money is constantly moving from one place to the next in a cycle of income, expenditures and investments. Your personal cash flow is described as being the difference between the amount of money you make compared to the amount of money you are spending. Research shows that 75% of Australian families will experience financial hardship at one point, and so it has now become essential that you manage your money wisely in the growing financial market. |
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Are You Liable for Fringe Benefits Tax? A fringe benefit is any benefit you provide to an employee, or to the associate of an employee (such as their spouse or children) in addition to their salary or wages. Some of these items could include.
• Allowing an employee to use a work car for private purposes |
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On 1 January 2011 the Australian Consumer Law (ACL) commenced. It aims to benefit consumers by giving them the same rights and protections wherever they are in Australia. Basically the ACL has simplified the old laws and made them easier to understand and to enforce. This law benefits you as a consumer in many ways. |
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Intellectual property (IP) represents the property of your mind or intellect. It can be an invention, trade mark, logo, original design or the practical application of a good idea. In business terms, this means your proprietary knowledge - a key component of success in business today. IP is often what helps consumers to recognise your business; recently some businesses have even gone so far as to successfully trademark certain colours as their own intellectual property for a particular product category. |
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The Use of Colour in Effective Marketing
Clarity Marketing The use of colour in marketing is a powerful psychological tool which sends a specific message to your audience. While visual appeal is important, it is a good idea to consider how colour can represent and enhance the appearance of your product and influence the behaviour of potential buyers. Colour is the first thing registered by a person who views your website, logo or packaging; so select your colours wisely and keep in mind the meaning and harmony of colours. |
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Top Tips for Leveraging Your Brand Online
Clarity Marketing An online presence is now a necessity for a business and it provides a great opportunity for small business to communicate with customers. Some of the benefits that online marketing provides include direct customer engagement, instant feedback and decreased costs. Listed below are some important tips for managing your online presence. |
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Top Factors Influencing the Price of Your Business If you are preparing to transition ownership of your business, or just beginning to consider your options for stepping away from the business, it is important to be prepared and have accurate expectations about the sale price. There are a range of factors that have an impact on the price or value of your business and listed in the full article are some of the most important. |
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The Importance of Setting Goals for Your Business Whether expressed explicitly or not, most small business owners and managers have goals for the business they would like to achieve. It’s important to clearly state the goals that you have so that you possess a precise view of the short-term and long-term aims of the business, and can ensure that you are working towards them rather than just looking after the day-to-day needs of the business. Setting goals can also help with the process of determining what needs to be done to improve the business. |
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Get on Track with a Business Plan Anyone who owns or is considering starting a business, is best-advised to write a business plan. A business plan is perhaps one of the most important documents that your business can have, and it can be written at any point. It is used to achieve many things, such as seeking start-up finance and engaging suppliers, customers & partners in business, employees, investors and lending banks. However, the most important reason to write a business plan is for your own direction and planning out all future aspects of the business. A business plan serves multiple purposes. |
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Festivities and Adventures!
The team gathered to celebrate the festive season on the roof of
our city office. The weather was perfect as we shared a few
laughs over some drinks and delicious food. Lauren attempted a
lovely tea light candle display, but it ended up being more
entertaining to watch her run up and down, to keep them from
blowing out! We exchanged the all important Secret Santa gifts
and enjoyed unwinding during the chaotic lead up to the
holidays. We also took the chance to welcome Ashish to the team
as our Accounting Assistant and got to know him a little better.
Welcome Ashish! |
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Fancy Flats
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Disclaimer: The contents of this document titled "The Quintessential Brief" (the "Material") are provided as general information only. It is not intended to be given as advice and should not be relied upon as such. If you are concerned about any issue raised by the Material then you should seek your own professional advice. No warranty is given in relation to the accuracy, currency or completeness of the Material. No reader should act on the basis of any matter contained in this publication without first obtaining specific professional advice. Where applicable, liability is limited by the NSW Solicitors Scheme under the Professional Standards Act 1994 (NSW), and other relevant state legislation. The Quinn Group respects your privacy. Should you not wish to receive this newsletter in the future please contact us on 1300 784 667.