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Assistance with ATO Debt

Are you having trouble with debts to the ATO? The Global Financial Crisis; along with the years of stagnation and decline in economic conditions have left many, particularly business clients, with large tax burdens that they can either no longer handle or are having problems paying.

At Small Business Works we can assist you with negotiating on your behalf with the ATO, in some cases we can even get your debt completely removed from your file. ATO guidelines state that if a debt is “causing significant financial hardship” then there are grounds for the ATO to offer you debt relieve either by waiving some or all of your debt. More information on ATO Debt Relief

In the last few years we have been successful with the following:

• Having clients debts completely waived in full
• All fines and penalty interest removed
• Negotiated to pay the ATO at terms that suit the tax payer

What we can achieve obviously depends on your personal circumstances so If you or anyone you know is having trouble with debts to the ATO please contact us for an obligation free discussion of your situation on 1800 556 122 to make an appointment or contact one of our Tax Accountants here.

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Self Managed Super Fund (SMSF) Asset Revaluation

Recently a new regulation has been finalised, where SMSF trustees are now required to report fund assets at market value when preparing year-end reports under section 35B of the Superannuation Industry (Supervision) Act 1993 (Previously it was optional to use either market or cost value).

While this is not a problem with listed assets such as shares it is a bigger issue for unlisted assets like property. Many accountants have been doing this revaluation every 3 years as its considered best practice; this new regulation has been enforced starting from 2013 financial (this year!). Supporting by encouragement from APRA, under the existing standard – AAS 25 – in regards to consistency of using the net market value for valuation requirement, the regulation means that super fund trustees now need to re-value all their unlisted assets.

Moreover, the revaluation guidelines for self-managed superannuation fund had been publicly released by ATO to assist trustee on many level of purposes, especially for year-end report. ATO also had stated that the valuation can be performed by anyone with objective and supportable data. It is also advisable that different class of asset will require different method, for instance, shares valuation can be easily found online, qualified independent valuer for property or other nature of asset with complexity or difficult.

Further information can be found in the Superannuation Industry (Supervision) Act, AASB, APRA website, tved.net.au, ATO website, and ICAA website.

If you would like to know what this means for you or would like assistance revalueing your fund assets let us know by calling 1800 556 122 or contact our SMSF accountants here

Understaing your SMSF Asset Allocation

Asset allocation is responsible for well over 80% of a portfolio’s performance and as such, is one of the most important decisions an investor will make. Historically, there are two main approaches taken to.

There are a couple of key types of asset allocation available to you as a SMSF Trustee:

Dynamic Asset Allocation

Asset allocation is responsible for well over 80% of a portfolio’s performance and as such, is one of the most important decisions an investor will make. Historically, there are two main approaches taken to asset allocation by fund managers — passive versus active management, with assets allocated on either a strategic or tactical basis.

However, in light of recent market volatility, there has been growing awareness of a third approach — dynamic asset allocation (DAA). This falls under the active paradigm and is based around a more flexible strategy of buying and selling assets according to movements in the economic cycle. While the use of DAA is limited in managed funds, growing awareness of this approach means it is important for advisers to understand the key elements of this method.

THE IMPORTANCE OF ASSET ALLOCATION

Asset allocation is renowned for being a critical driver of investment returns. Research from Australia and overseas suggests having the right mix of assets is responsible for around 90% of a portfolio’s performance.

The main goal when deciding where and how to allocate assets is to create a mix that reflects the risk profile and objectives of the investor. Typically, this includes a combination of cash, fixed interest, property and shares, although it has also evolved to include assets such as commodities and alternative investments. Asset allocation took a back seat around the 1990s when you had an environment where all assets moved up in tandem … That has obviously changed in the context of the environment we’ve been in over the past 10 years or decade and asset allocation has taken a much stronger role.

Traditionally, there have been two major approaches to asset allocation and portfolio construction — passive versus active management. Within these management styles, assets are allocated using either a strategic or tactical methodology However, unprecedented market volatility following the global financial crisis has led to growing awareness of a third approach — dynamic asset allocation (DAA).

As this approach can provide greater scope for fund managers to add value to a client’s portfolio, it is essential advisers understand where DAA fits in, in relation to the passive–active spectrum and how investors can use this to add value to their portfolio in volatile market conditions. If you would like help with your Asset allocation please contact us here

Passive Asset Allocation

A passive approach to asset allocation assumes markets are efficient in their pricing and creates a long-term strategic asset allocation for investors, based on their ideal mix of risk and return.

This allows them to effectively ‘set and forget’ their investment strategy, assuming their risk tolerance remains constant over time. As investments grow over time, they can be rebalanced back to their strategic base at intervals set by the investor, such as monthly, quarterly or annually.

For example

A relatively conservative investor might have a portfolio with 60% growth assets, including 30% Australian equities and 30% international equities. The remaining 40% is split equally between cash and bonds. Over time, returns from their shares might mean the overall asset allocation alters in make up to around 80% equities and 20% cash and bonds. As this is more in line with a high growth risk profile, the investor could sell down some of their equities in order to return to the original 60% growth/40% defensive proportions that represent their strategic asset allocation.

Dynamic Asset Allocation

Active asset allocation

In contrast, an active approach to asset allocation is based on the view that markets are not efficient in their pricing. Investment managers can exploit these inefficiencies by underweighting and overweighting their exposure to certain sectors to enhance returns. The active selection of assets under this approach is called tactical asset allocation (TAA). It can be used as the sole basis for asset allocation within a portfolio or as a tactical tilt applied to a strategic base. Maintaining TAA requires a permanent active manager to oversee portfolio decisions. However it can also provide greater opportunities for returns through picking market trends.

Dynamic asset allocation

Dynamic asset allocation (DAA) contrasts to both TAA and SAA. It aims to generate returns through a less constrained approach to asset allocation based on market movements over a medium-term investment horizon. While traditional approaches to asset allocation distribute assets across various classes with reasonably constant weights, a dynamic approach allows investors much greater flexibility to move assets across classes and the traditional growth/defensive range.

For example

Under a DAA approach, an investor might set a minimum and maximum allocation to growth assets such as minimum of 30% and maximum of 90%, within which the fund manager will operate.

From here, the investment manager will dynamically allocate assets according to the relative strength in markets and the outlook for specific classes. If the manager expects equity markets to rally, they might allocate the full 90% to equities, whereas if they expect markets to fall, they might reduce equity exposure down to 30%. This helps the investor create a ‘point in time’ portfolio that optimises returns while remaining committed to the core needs of the client.

ADVANTAGES OF DAA

The major advantage of DAA is that it allows investors the flexibility to capture opportunities at various stages of the economic and market cycles. By selling equities ahead of a share market downturn or buying ahead of a rally, investors can pick assets at the optimum time to add value. It can also allow investors to add relative value, mitigate the risks that asset prices become overvalued and adjust their portfolio in line with global economic conditions.

For example

A typical balanced fund will be split 70 % growth assets to 30% defensive under most market conditions. Under a DAA approach investors can move outside of their traditional asset allocation, moving to as low as 30% growth to 70% defensive if market conditions warrant it, allowing much greater scope for the fund manager when it comes to allocating assets. During periods of low growth, where traditional market correlations break down, DAA can also provide opportunities to add value.

DISADVANTAGES OF DAA

The main disadvantage of DAA is that it requires managers to buy and sell assets at exactly the right time in the markets. This requires enough knowledge and skill to know the client, know the product and realise when a market turning point occurs as opposed to simply reacting to market ‘noise’.

If you would like help with the Asset Allocation for your SMSF please give us a call on 1800 556 122 or contact our SMSF Accountants here

Federal Budget 2013/14 Update – Superannuation Changes

Excess contributions tax

The Government announced that excess concessional contributions will be taxed at an individual’s marginal tax rate, plus an interest charge to recognise that the tax on excess contributions is collected later than normal income tax.In addition, individuals will be allowed to withdraw any excess concessional contributions from their superannuation fund. These reforms will apply to all excess concessional contributions made from 1 July 2013. Under the current excess contributions tax arrangements, concessional contributions in excess of the concessional contributions cap are taxed at 31.5% in addition to the tax payable by the fund, usually 15%, regardless of the personal marginal tax rate faced by the individual.

In addition, individuals are only able to withdraw excess concessional contributions the first time they make an excess contribution after 1 July 2011, and only up to a maximum amount of $10,000.

This measure was announced on 5 April 2013 by the Treasurer and the Minister for Financial Services and Superannuation.

Deferred lifetime annuities

The Government will make amendments by providing that from 1 July 2014, deferred lifetime annuities with the same concessional tax treatment that applies to investment earnings on superannuation assets supporting retirement income streams

A deferred lifetime annuity is an annuity purchased for an up-front premium but where payments do not commence immediately.

For example:

A deferred lifetime annuity might be purchased at age 60 with payments commencing at age 80 and continuing for life.

The existing law requires that income streams must make payments at least annually. As a deferred annuity does not meet this requirement, it does not qualify as an income stream and therefore is not entitled to the associated concessional tax treatment that applies to earnings on superannuation assets supporting income streams.

This measure was announced on 5 April 2013 by the Treasurer and the Minister for Financial Services and Superannuation.

Higher concessional contributions caps

The Government will increase the concessional contributions cap to $35,000 from 1 July 2013 for people aged 60 and over. Individuals aged 50 and over will be able to access the higher cap from 1 July 2014.

The higher cap is unindexed, which means that it is effectively a temporary measure. The general concessional cap reaches $35,000 through indexation by 1 July 2018, and from that date the same cap will apply to all individuals.

This measure was announced on 5 April 2013 by the Treasurer and the Minister for Financial Services and Superannuation.

Note 1: The Government has withdrawn its previous commitment of a higher concessional contributions cap for individuals with superannuation balances below $500,000.

Note 2: This measure was introduced into the House of Representatives on 15 May 2013 within the Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013.

Tax exemptions for earnings on superannuation assets supporting income streams

The Government announced that from 1 July 2014, future earnings on assets supporting income streams will be tax-free up to $100,000 a year for each individual. Earnings above the $100,000 threshold will be taxed at the same concessional rate of 15% that applies to earnings in the accumulation phase.

Currently, all earnings (such as dividends and interest) on assets supporting superannuation income streams are tax-free. In contrast, earnings in the accumulation phase of superannuation are taxed at 15%.

Under this measure, the $100,000 threshold will be indexed to the Consumer Price Index (CPI) and will increase in $10,000 increments.

The Government has indicated that transitional arrangements will apply for capital gains on assets purchased before 1 July 2014. The transitional arrangements are as follows:

• For assets that were purchased before 5 April 2013, the measure will only apply to capital gains that accrue after 1 July 2024.
• For assets that are purchased from 5 April 2013 to 30 June 2014, individuals will have the choice of including in the $100,000 limit the capital gain, or only that part that accrues after 1 July 2014
• For assets that are purchased from 1 July 2014, the capital gain will be included in the $100,000 limit.

Capital gains that are subject to the tax will continue to receive a 33% discount.

This change does not affect the way that pension payments are taxed in the hands of the pension recipient, nor does it affect the tax treatment of lump sum withdrawals.

Consider:

While Treasury’s modelling suggests that this move would only impact around 16,000 Australians with a pension account balance of $2 million or more, assuming an earning rate of 5%, it’s likely that more people with a lower account balance could be affected if superannuation fund investments backing pensions continue to perform strongly.

These changes will also apply to defined benefit funds, so that members of such funds will face a corresponding decrease in their tax concessions in the retirement phase.

This measure was announced on 5 April 2013 by the Treasurer and the Minister for Financial Services and Superannuation.

Transfer of lost member accounts to the ATO

The Government will make amendments by increasing the threshold below which small inactive superannuation accounts and the accounts of members who are not contactable are required to be transferred to the Australian Taxation Office (ATO).

The threshold will be increased from $2,000 to $2,500 from 31 December 2015, and then to $3,000 from 31 December 2016.

It is noted that individuals can reclaim their lost superannuation accounts transferred to the ATO at any time. Interest will be paid on these accounts at a rate equivalent to growth in the CPI to maintain their real value.

This measure was announced on 5 April 2013 by the Treasurer and the Minister for Financial Services and Superannuation.

Low income superannuation contributions

The Government will amend the eligibility criteria for the low income superannuation contribution (LISC) to pay individuals with an entitlement below $20.

Previously, the LISC wasn’t paid if less than $20. Entitlements under $10 will be rounded to $10.

The LISC effectively refunds up to $500 a year of the tax paid on superannuation concessional contributions for people with incomes up to $37,000.

Note: This measure was introduced into the House of Representatives on 15 May 2013 within the Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013.

Amendments to the reduction of higher tax concession for contributions of high income earners

The Government will make minor amendments to the 2012/13 Budget measure entitled “Superannuation — Reduction of Higher Tax Concession for Contributions of Very High Income Earners” effective from 1 July 2012.

The amendments include using a similar definition to that used for calculating whether an individual is liable to pay the Medicare levy surcharge.

Income for this purpose includes:

• an individual’s taxable income (including the net amount on which family trust distribution tax has been paid)
• reportable superannuation contributions
• reportable fringe benefits
• total net investment loss (includes both net financial investment loss and net rental property loss)
• but excludes the taxed element of the taxable component of a superannuation lump sum benefit, other than a death benefit, up to the low rate cap amount, that is, $175,000 in the 2012/13 financial year for individuals aged 55 to 59

In the 2012/13 Federal Budget, the definition of “income” for this measure included concessional superannuation contributions.

If an individual’s income excluding their concessional contributions is less than the $300,000 threshold, but the inclusion of their concessional contributions pushes them over the threshold, the reduced tax concession will only apply to the part of the contributions that is in excess of the threshold.

Note: This measure was introduced into the House of Representatives on 15 May 2013 within the Tax and Superannuation Laws Amendment (Increased Concessional Contributions Cap and Other Measures) Bill 2013.

If you have any questions please call your client manager on (03) 9580 2419 or contact our Accountants here

Active Asset Rollover and CGT Exemption for Small Businesses

This topic covers the condition of active asset CGT concession/exemption rollover for Small Businesses. Before getting in to the main topic, let’s take a look of the definition and the conditions that need to be satisfied.

CGT (Capital Gains Tax) is a tax that implies where the current market price is higher than cost price, on the event of selling assets. There is also Net Capital loss that can be deferred, where the current market price is lower than the cost price on the event of selling assets.

Due to the nature and the purpose of the asset, CGT can be classed as exempt, rollover or concession. There are basic conditions that need to be satisfied in order to apply these three classifications.

1. You need to satisfy at least one of the following conditions:
   1. You are a small business entity
   2. You do not carry on a business; other than as a partner, but your private asset is used by an affiliated business entity
   3. You are a partner in a partnership that is a small business entity and the asset is used or in the interest of partnership’s asset
   4. You satisfy the maximum net asset value test, which doesn’t exceed $6 million
2. The asset must satisfy the active asset test. In other words:
   1. It must be active for at least 7.5 years if owned for more than 15 years, and half of the period of ownership if owned for 15 years or less
   2. The asset can be a tangible asset (e.g. land or building) or intangible asset (e.g. goodwill or copyright)
   3. For a CGT asset that is a share in a company or interest in a trust, the company needs  to satisfy the 80% test for the share in a company or interest in a trust to be considered an active asset
   4. Unfortunately a CGT asset that attracts rental income is unqualified
3. In the case of a share in a company or interest in a trust, there are conditions that need to be satisfied before the CGT event:
   1. You must be a CGT concession stakeholder in the company or trust, or
   2. The entity owns the share or interest must satisfy the 90% test
4. You must keep a written record of the amount you have chosen for the exemption

Please note that the conditions listed above are the basic conditions that must be met and additional conditions will be applied depending on individual circumstances.

Now, let’s get into our main topic ‘active asset CGT concession/exemption rollover for Small Businesses’.

Capital gain from asset disposal can be deferred/rollover for a maximum of two years due to the concession. The replacement of the asset or capital improvement of an existing asset will be recognised on changing of the circumstances causes the gain to crystallise.

Rollover allows you to defer the capital gain to the later, but other concessions may exempt or reduce/discount your capital gain. Further, you can choose to rollover part or all of your capital gain and apply one of the other concessions for the remaining gain to reduce your assessable income. There are no limitations on how many concessions you can apply to the capital gains as the main idea is to achieve the best tax result for your circumstances, this means applying as many concessions until the capital gain is reduced to nil. Again, to be qualified for the Small Business rollover, you need to satisfy the basic conditions mentioned above.

Despite the advantage of CGT rollover, you will not be able to recognise the capital gain to your assessable income until circumstances change that cause the CGT event to crystallise the gain; for instance, you cannot replace the asset within the required time or sell the replacement asset. Until the CGT event happens, the original capital gain had been crystallised. Hence, you will make the same amount of capital gain to all or part of the gain that was previously deferred. To add to that, there are restrictions on which CGT concessions can be used and how they can be applied and what concessions are available depending on the CGT event that caused the gain to crystallise.

Please refer to ATO website for further info on what the circumstances are that can cause the gain to crystallise and at what stage the gain crystallises. Very important point here, there are other circumstances that can cause the gain to crystallise if the replacement or improved asset is a share or interest in a trust.

As mentioned earlier in this topic, there are additional CGT rollover conditions that need to be satisfied by the end of the replacement period. This period starts a year before and ends two years after the last CGT event that occurred in the income year for which you choose the rollover. If the rollover conditions are not met within the replacement asset period, the gain will crystallise, and the Commissioner may extend the replacement asset period. To satisfy the conditions you need:

1. To replace the asset or make a capital improvement to the existing asset, or do both, within the replacement asset period
2. To ensure the replacement asset or improved asset is an active asset at the end of the replacement asset period
3. To ensure the total cost of the replacement and improved assets is equal or greater than the gain that was rollover

You can purchase more than one replacement asset or improve one or more existing asset rather than acquiring a replacement asset and you can rollover even when the replacement asset has not been acquired or improvement is not yet incurred. It is crucial to record the details of your rollover, note the start and end date of the replacement asset period and cost to replace or improve the asset.

With replacement asset of share or trust interest, more conditions are applied to satisfy the rollover. If the asset used had met the condition of replacement asset and it’s decided to stop using the asset, the CGT event occurs as the result of asset being considered no longer active. CGT can also be crystallised if the expenditure of the asset replacement or improvement is less than the capital gain, and this is called insufficient expenditure. The last condition is if there are no expenses whatsoever for asset replacement or improvement and it falls under replacement asset condition.

Please refer back to ATO website for further information and examples.

If you have any questions please call your client manager on (03) 9580 2419 or contact our Accountants here

Federal Budget 2013/14 Update: Economic Overview

In providing a background for its 2013/14 Federal Budget, the Federal Government indicated that the global financial market sentiment has improved since late 2012, though global economic conditions remain challenging, particularly in the major advanced economies. Against this backdrop, the global economy is undergoing dramatic structural change as economic activity shifts increasingly towards Asia.

The Australian economy is expected to continue to grow faster than most of the developed world. Treasury projects economic growth of 2.75% next year, lifting to 3% in the following year. As such, Australia’s economic outlook remains favourable, with solid economic growth, low unemployment and contained inflation over the coming years.

However, Australia’s economy is likely to undergo two large and important transitions over the forecast period. Following the largest investment boom in Australia’s history, the resources sector will transition away from the investment phase toward exceptional growth in production and exports. More broadly, the Australian economy will transition to non-resource drivers of growth.

While Australia’s economic fundamentals remain strong, conditions are expected to remain uneven across the economy. The unusual combination of a sustained high dollar and falling commodity prices is putting acute competitive pressures on both the resource and non-resource sectors. The estimates used in the Budget papers are summarised in the table below.

Economic Indicators:

The key Budget measures that may potentially affect financial advice clients are in the areas of superannuation, taxation, and social security. 

If you have any questions please call your client manager on (03) 9580 2419 or contact our Accountants here

To read the complete 2013/14 Federal Budget papers, visit www.budget.gov.au

Contractor Laws – 2013 Update

When you are looking to engage a worker it is important to make sure you are aware of the factors used to assess a contract or work arrangement. Having the right information and advice will allow you to correctly asses a contractor or employee arrangement. Simply possessing an ABN does not mean that a worker should be hired as a contractor. It is important to make the correct distinction between contractor or employer as there are a number of employer obligations..

Below are six factors the ATO uses to determine whether a worker is a contractor or an employee.

1.       Ability to Sub Contract

2.       Basis of payment

3.       Commercial risk

4.       Control over work

5.       Equipment, tools and other assets

6.       Independence

The following nine factors are used by Fair Work Australia to determine whether a worker is a contractor or an employee

1.       Degree of control over how work is performed

2.       Hours of work

3.       Expectation of work

4.       Risk

5.       Superannuation

6.       Tools and equipment

7.       Tax

8.     Method of payment

9.       Leave

It is also important to note that satisfying one criteria does not conclusively determine whether a worker is an employee/contractor.

A business that pays a worker as a contractor when in fact they are an employee will be liable for tax and superannuation, making this mistake can also lead to penalties and fines. If you are paying contractors and are not sure or have not assessed if they are employees or contractors we recommend that you take the time to do the assessment. Any contractor that is in fact an employee will need to have their tax and superannuation paid back to the time that they became your employee.

Here at Small Business Works we specialise in providing sound advice to our clients enabling them to make the right decisions. We can assist you in assessing whether your worker is an employee or a contractor.

Contact our office if you would like to make a time to discuss your accounting and tax needs.

Capital Gains Tax (CGT) related Small Business Concessions

What is Capital Gains Tax :

Capital gains tax (CGT) is not a separate tax but the amount of income tax that you pay on any capital gain that you make. A capital gain or capital loss is made when certain events or transactions happen. These are called CGT events. The most common CGT assets are land, buildings, shares in a company, and units in a unit trust. Less well‑known CGT assets include contractual rights, options, foreign currency, leases, licences, and goodwill etc.

In general, you make a capital gain if you receive an amount from a CGT event (such as the disposal of a CGT asset) that is more than your total costs associated with that event. You make a capital loss if you receive an amount from a CGT event that is less than the total costs associated with that event. You can use a capital loss only to reduce a capital gain, not to reduce other income. You can generally carry forward any unused capital losses to a later income year and apply them against capital gains in that year.

CGT Discount :

If you are a company, this section does not apply to you and you cannot use the CGT discount. The main condition for the CGT discount is that you must have acquired the CGT asset at least 12 months before the CGT event giving rise to the capital gain. The CGT discount can apply to capital gains made on non‑business assets as well as business assets.

Small Business CGT Discount Concessions :

There are four CGT concessions available to small business. Any capital gain that results from a CGT event may be reduced or omitted under the small business concessions if you satisfy certain conditions ……..

The four concessions are:

1 The small business 15‑year exemption: This concession provides a total exemption of a capital gain if you have continuously owned the CGT asset for at least 15 years and the relevant individual is 55 years old, or older, and retiring, or is permanently incapacitated.

2 The small business 50% active asset reduction: This concession provides a 50% reduction of a capital gain. Individuals and trusts eligible for both the CGT discount and the small business 50% active asset reduction can reduce a capital gain by 75%, that is, by 50% then 50% of the remainder.

3 The small business retirement exemption: This concession provides an exemption of capital gains up to a lifetime limit of $500,000. If you are under 55 years old just before you make the choice, the amount must be paid into a complying superannuation fund or a retirement savings account (RSA).

4 The small business rollover: This concession allows you to defer a capital gain from the disposal of a business asset for a minimum of two years. If you acquire a replacement asset or make a capital improvement to an existing asset, you can defer the capital gain for longer, until the asset is disposed of or its use changes in particular ways. Either will cause the deferred capital gain to crystallise. This means you would make a capital gain equal to the deferred gain at the time of the disposal or change in use, in addition to any capital gain made on the disposal of the replacement or capital improved asset.

For detailed information please contact our office on 03-95802419 or Contact us HERE

Business and Climate Change

So what does climate change and sustainability mean for your business? I am not a climate scientist or even an economist but lets have a look at a likely scenario over the next 10 + years (yes that’s right you should be planning for your business 10 years in the future!)

• The price of all fossil fuels will be higher, increasing the cost of transport, commuting and airfares. (how much higher?)
• Sea levels will begin to rise and the climate will continue to get more un predictable with wild weather in parts of Australia, dry conditions in other areas.
• The current trend of outsourcing many services and manufacturing to cheaper parts of the world is likely to continue

Obviously for businesses directly exposed to the climate like primary production and those industries that rely on primary production these changes could directly affect you something you are no doubt aware of and already have plans in place but what about if your business is not primary production? What do changes like this mean to your business? Are you dependant on fossil fuels for transport or for the way you sell or distribute your goods and/or services?

In most of the western world but particularly in Australia we are very dependent on fossil fuels to move the people and goods we need to run our centralised cities and way of life. How will increasing costs effect you and your current business operations? Even better what opportunities do you see as a result of these changes?

At Small Business Works we are dedicated to sustainability and are able to work with you on your businesses strategic direction either for your business unit or business as a whole as well as on GRI based sustainability reporting and auditing. We continue to innovate in the way we use technology to work with clients and are happy to meet you face to face, over the phone or via a number of electronic means such as skype, citrix and other internet based platforms as well as working with most online document exchange systems.

Here are some links to Government publications about climate change;

RELATED: CSRIO – Understanding climate change

RELATED: Climate change in Australia – Federal government website

Please contact our sustainable accountants here!

Author: Alan Maddick Group CEO