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Satellite 360
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BUSINESS PERFORMANCE ANALYSIS!
It’s not long till the end of 2015. January is a good time to sit down and do some analysis as to how your business has performed over the last 6 to 12 months.
• How is the business going?
• Are you happy with the results?
• Do you need assistance in the key areas of your business?...
• Are you happy with the margins that you’re generating in your business?
• Are your stock levels too high? If they are, are you going to feature some attractive specials as part of the Christmas sales period?
• Are you calculating the ...........

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BUSINESS HEALTH CHECKS HELP!
A business health check is very important. Just as you go to your GP or your dentist, probably at least on an annual basis, it’s also important to assess your business’ health.
We use Key Performance Indicators (KPIs) and business ratios to be able to calculate various indicators. KPIs also identify:..............

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ATO AND UNITED STATES IRS SHARE BANK INFORMATION!
The ATO has announced that it has undertaken its first ever automatic sharing of bank information with the United States (US) Internal Revenue Service (IRS).
Details of over 30,000 financial accounts worth over $5 billion are being provided to the US.
The information provided on US citizens and tax residents with Australian bank accounts is the first step in..............

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DATA MATCHING PROGRAM - ON EBAY ONLINE SALES!
The ATO has announced that it will acquire online selling data relating to between 15,000 and 25,000 individuals who sold goods and services of $10,000 or more on eBay between 1 July 2014 to 30 June 2015.
Data will be sought from eBay Australia and New Zealand Pty Ltd, a subsidiary of eBay International AG which owns and operates www.ebay.com.au.
The data requested will include..............

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PERSONAL PROPERTY SECURITIES REGISTER - CHANGES!
The Australian government has changed the PPSA so that deemed leases of serial numbered goods for 90 days or more no longer need to be deemed a “security interest”, therefore, a lease or bailment for a term of 90 days or more doesn’t have to be registered on the PPSR. This will mean that ......................

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ATO EXTENDS SUPPORT TO SMALL BUSINESS TO IMPLEMENT SUPERSTREAM!
As the SuperStream rollout for small businesses continues, the Australian Taxation Office (ATO) is assisting employers in select industries who may need support to implement SuperStream.
The ATO has recently commenced an intensive communication program, delivering practical help and information via email and SMS to registered businesses across 22 industries. They are contacting the relevant industry associations and hosting dedicated SuperStream online information sessions (webinars).
Philip Hind, ATO’s National Program Manager, Data Standards & E-Commerce (SuperStream), said.....................

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TAXPAYERS CAN APPLY TO THE ATO FOR A MARKET VALUE RULING!
The ATO has issued an information sheet to help taxpayers get their property valuations right.
They say that practitioners or their clients can apply for a market value private ruling, by either: ...........

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QUARTERLY SMSF STATISTICAL REPORT RELEASED!
The ATO has released its quarterly self-managed superannuation fund (SMSF) statistical report for June 2015.
According to the report, there are estimated to be more than 557,000 SMSFs with total assets of $590 billion. Both the number of funds and their combined assets have increased by.................

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SOME FEAR CAN HELP!
Many small/medium enterprise operators need a healthy amount of fear to stay focused on the main game. However, you need to ensure you’re not overrun by fear but rather motivated by fear.
The key is to “own mistakes”. Look at what you’ve done in the past. Can you now do it differently to get a different result?
To succeed in business, you need a .............

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ATO'S APPS AND OTHER ONLINE TOOLS!
As a result of user feedback, the ATO has improved their ATO Small Business app and it continues to expand in functionality and usability.
The most useful features for small business include:
– ABN Lookup, which verifies business details.
– Tax withheld calculator, which shows .................
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