Marketing program for rural producers
For those interested in some niche marketing of their produce, this is the program for you. Primary producers within the areas of Dubbo Regional, Gilgandra, Mid-Western Regional, Narromine, Warren and Warrumbungle Regional Councils are invited to participate in the Regional Platters program organised by Dubbo Regional Council.
With strategic marketing to travel agencies, visitors, resellers, new residents and the media, the program is designed to increase the reach of businesses to expand their customer base. Participants will also be able to pitch for a share of $25,000 to assist their next big project. For further information, contact Edward on 02 6801 4125 or Edward.Joshua@dubbo.nsw.gov.au or download a copy of the prospectus
New rates for Fringe Benefit Tax
New Fringe Benefit Tax rates have been announced for the 2018/19 financial year. Commencing in April, the Australian Taxation Office released Taxation Determinations with a benchmark interest rate of 5.20 per cent which is used to calculate the taxable value of a loan fringe benefit or a car fringe benefit. If these apply to you, contact us for further guidance.
Solutions in sight
With more than a third of NSW in drought or approaching drought, the NSW Government has announced the appointment of a state-wide Drought Coordinator. Geurie local Pip Job will work with affected farmers and communities, helping to ensure the right assistance is provided at the right time and coordinate the NSW drought response. As a former beef cattle farmer and landcare manager, Pip is well-placed to tackle this role. If you are in need of assistance, contact Pip by email on
pip.job@dpi.nsw.gov.au
Small business exemption
Certain types of insurance for small business are now exempt from stamp duty tax. And if you’ve already paid it, you can also get it back. From January 1, the exemption applies to commercial vehicle and aviation insurance, occupational indemnity insurance and product and public liability insurance. For a policy to be exempt, the insured must be a small business with declaration. To be included as a small business, an individual, partnership, company or trust needs to have an annual aggregated turnover of less than $2million. Don’t forget, you can also claim on your CTP green slip, although judging from the feedback, it may be more time-consuming than it’s worth! Contact us for more information regarding your stamp duty exemption.
Building a new business
Starting a business takes a lot of careful consideration and planning. Initially, you will need to ascertain if it is feasible by looking at the existing marketplace. Ask yourself if there is demand for your particular product or service. Conducting some market research will give you a clearer picture. Gauge the size of the market, talk to potential customers and get direct feedback. Gathering information through a focus group is often a good idea. Figure out if you can actually deliver what you promise. For more information on being competitive, setting prices and margins, becoming business compliant and creating a marketing plan, contact us. We can provide you with a seven-step business plan and advice along the way towards achieving your dreams.