BRM Holdich E-News
16 January 2015
A New Year
As we commence the new year its time to reflect on the past and use our knowledge and experience to plan for the future. In this edition of e-news we take a look at a new initiative the ATO has in store and discuss the advantages of short term planning to help businesses achieve their long term goals.
We look forward to working with you again this year.
The BRM Holdich Team
ATO Share Transactions data matching programs
The ATO have issued a gazette notice advising that it will be acquiring details of entities’ share registries for the period 20 September 1985 to 30 June 2016 from the following sources:
- Link Market Services Limited
- Computershare Limited
- Australian Securities Exchange Limited
- Boardroom Pty Ltd
- Advanced Share Registry Services Pty Ltd
- Security Transfer Registers Pty Ltd
The type of data the ATO will collect includes contact details and purchase and sale details including quantities of shares bought and sold.
The ATO will electronically match this information to identify non-compliance with registration, lodgement, reporting and payment obligations under taxation laws.
The ATO has stated that the program aims to identify income tax returns that may not include accurate information relating to the disposal of shares and securities, especially in relation to CGT.
If you have any questions about this, please do not hesitate to contact Aaron, Lisa or Scott.
Short-term business goals
Instead of only setting long term goals, businesses may benefit from setting related short-term goals for example monthly or 90 days.
Setting short term goals that are consistent with your long term goals assists progress and accountability by breaking the long term goal into achievable and measurable chunks.
For example, reducing costs by 10 percent in the next 3 years is a long term goal. A short term goal to progress towards this may be to ‘lower overtime cost by 10 percent this quarter’. By setting and achieving a specific short-term goal there is a much better chance progressing towards the long term plans.
Another goal could be to increase turnover by 15% this year. The short-term goal could be ‘win one new client every month this quarter’. Again it becomes something which can be measured in the short-term and progresses towards the long term plans.
Maintaining control over cash flow is a critical component of business success. Tracking cash flow results monthly and comparing back to cash flow budget will assist in identifying issues and challenges sooner. Annual cash flow forecasts can also be updated with actual results. With better information and monitoring, corrective action can be taken so that budgeted results can be achieved.
Talk to us about where your business is going, where you want it to go and let us help you set, measure, monitor and ultimately achieve both your short-term and long-term goals.
We noticed this article:
The Outlook on the Global Agenda 2015 features an analysis of the Top 10 trends which will preoccupy our experts for the next 12-18 months as well as the key challenges facing the world’s regions, an overview of global leadership and governance, and the emerging issues that will define our future.
If you are interested please click on the link below.
Important: This is not advice. Clients should not act solely on the basis of the material contained in this Bulletin. Items herein are general comments only and do not constitute or convey advice per se. Also changes in legislation may occur quickly. We therefore recommend that our formal advice be sought before acting in any of the areas. The Bulletin is issued as a helpful guide to clients and for their private information. Therefore it should be regarded as confidential and not be made available to any person without our prior approval.
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