News 
VBD is committed to bringing you up-to-date accounting news, reminders of key business and accounting deadlines and a range of other value add, strategy and informative news. If you would like to learn more, or register to receive this information to your inbox, please click here. 22-May-2012
Proactive Wealth Creator: 'Stick to your plan'
To invest successfully over a lifetime does not require a high IQ, unusual business insights, or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that f..
10-May-2012
Proactive Alert- 2012/2013 Federal Budget- Proposed changes to individuals
The below summary provides a snapshot of the proposed changes that relate to individuals as announced in the 2012/2013 Federal Budget on Tuesday 9 May, 2012. Proposed date of effect from 1 July, 2012 Tax..
10-May-2012
Proactive Alert: 2012/2013 Federal Budget - Proposed Changes
We all know that there are two things that are certain in life; death and taxes. On Tuesday, the Federal Government issued the budget for 2012/2013. At VBD, we understand that SME business owners and managers cannot always prioritise ..
10-May-2012
Proactive Alert: 2012/2013 Federal Budget - Proposed changes that relate to businesses
The below summary provides a snapshot of the proposed changes that relate to businesses as announced in the 2012/2013 Federal Budget on Tuesday 9 May, 2012. Proposed date of effect from 1 July, 2012 Carr..
10-May-2012
Proactive Alert: 2012/2013 Federal Budget: Proposed changes that relate to superannuation
The below summary provides a snapshot of the proposed changes that relate to superannuation as announced in the 2012/2013 Federal Budget on Tuesday 9 May, 2012. Proposed date of effect from 1 July, 2012 ..
18-Apr-2012
Proactive Wealth Creator: Your Guide to Creating a Five-Year Financial Plan
What is your vision for your life by 2017? It has been shown that people who write measurable goals and commit to an action plan have a higher probability of being successful in life. Will you be debt free? Will you have seen a certain part..
11-Apr-2012
Proactive Alert: Deadline for Valid Family Discretionary Trusts Distributions
In a recent NTLG meeting, the ATO flagged that the Commissioner will be taking a more rigorous approach to trust distribution resolutions and minutes going forward. In the past, the Commissioner has applied an administrative concession allowing t..
02-Apr-2012
Proactive Wealth Creator: Teaching your Children Dollars and Sense
It’s a simple calculation, kids and money: From birth until university graduation, children consume dollars like they’re chicken nuggets. Yet life as an adult clearly requires knowledge of personal finance. That doesn’t mean your ch..
30-Mar-2012
Proactive Reminder: Check your odometer readings on 31 March 2012, for FBT (Fringe Benefits Tax)
It's Fringe Benefits Tax time again! Tomorrow, Saturday 31 March 2012 marks the end of the FBT year and we wanted to remind you that all odometers must be checked, and recorded the last time you use a business vehicle tomorrow. It is a..
07-Mar-2012
By Troy Wink, VBD Chartered Accountants I have talked to a number of business owners about their businesses and what their plans are for making their businesses sales ready. I’m amazed that for most it’s not even on their radar. In mos..
07-Mar-2012
Proactive Alert: Do you know about the new work health and safety laws that came into effect in 2012
New Work Health and Safety laws came into effect on the 1st January this year in the Commonwealth, New South Wales, Queensland, Northern Territory and the Australian Capital Territory. Safe Work Australia has recently released fact s..
07-Mar-2012
'Secrets of the Millionaire Mind: Think Rich to Get Rich' by T. Harv Eker
Book review by Troy Wink This book lead to a blinding flash of the obvious, something that I had suspected but not yet put my finger on. Whilst I have achieved a level of success which others may consider very good, I was under-achieving. I have a l..
07-Mar-2012
'Top 10': Refine your business writing skills
By Jo McKee, editonline If you run a business, you need business writing skills. No exceptions! Use these 'Top 10' ideas to improve your professional business image: 1. Know your topic. When you do, or when you’ve researched well,..
07-Mar-2012
When technology fails, and data is lost — is your business prepared and able to recover?
By Bree Hakes, Operations Supervisor, SMIKTECK Look around your workspace. How much technology is now integral to your business operations? It doesn’t matter what industry your business operates in, one thing is clear: there is an ever i..
23-Feb-2012
Proactive Wealth Creator: What happens if I hurt myself at work, how much do I get?
Why do I need Income Protection or Salary Continuance? It is a highly effective way of helping safeguard a person from the single greatest threat they may ever face – sickness or injury. If sickness or injury renders you unable to wor..
23-Jan-2012
Proactive Alert: Your business may be eligible for up to $5,000 assistance
NSW Trade and Investment are running 'The Business Growth Program' to assist established small to medium sized enterprises (SMEs) in New South Wales, to grow and improve their competitiveness. Businesses may be eligible for assistance up to $5,00..
17-Jan-2012
Proactive Wealth Creator: SMSF – A Real Option for Retirement Savings
The sooner you put into place practices to improve your worth when you retire, the more time you have to extract maximum value from your retirement planning efforts. At the end of the day, all roads should lead to a fulfilling retiremen..
19-Dec-2011
Proactive Wealth Creator: If you had a ‘Magic Wand’ and could do whatever you wanted to…
Many of us think we have a proper financial plan but… there are always areas that could be added / improved / streamlined or re-visited to ensure your personal goals & objectives are achieved and you are making ‘every post a winner&r..
01-Dec-2011
‘Building the Happiness Centred Business’ by Dr Paddi Lund
Book review by Troy Wink I was speaking with a client recently who has a business in Victoria and he wanted to know how he could improve the culture within his business. Building the Happiness Centred Business immediately jumped to mind. I have..
01-Dec-2011
Are you thinking about buying or selling a property? Then ensure you use specialists in conveyancing
By East Coast Conveyancing Buying or selling a property tends to be the biggest financial decision we ever make and getting it wrong can be costly. There are three stages to buying or selling a property and a licensed conveyancer takes care of e..
01-Dec-2011
Buy an Investment Property using a Self Managed Superannuation Fund (SMSF)
By Phil Bamback, Newcastle Wealth Management Did you know SMSFs can borrow money to purchase investment property? Many Australians have significant money in superannuation. With more people making the decision to establish their own SMSF, m..
01-Dec-2011
Increasing your prices won’t lose you customers!
By Phil Bamback, 10X Newcastle With many small businesses struggling to keep their sales pipeline strong, what can sometimes be a knee-jerk reaction, or the expected step, is to slash prices in the hope that it will ensure business keeps coming ..
01-Dec-2011
Wow! 2011 is almost in the rear vision mirror. Is it just me or does life seem to move at a rapid pa
By Troy Wink, VBD Chartered Accountants Regardless of our faith, late December and early January seems to be the time when many of us stop and reflect on the last twelve months. Recently at a conference I was reminded of a very simple formula: Be ..
16-Nov-2011
Proactive Wealth Creator: Is it the right time to invest in Property?
I would suggest it is always a good time to invest in property… the caveat on that statement is… in the right location and with the right variables. What I see now are eight variables you need to be mindful of to selectively in..
21-Oct-2011
Proactive Alert: Calculate the approximate cost impact of the new carbon tax scheme
A leading independent energy management company, has launched Australia's first online carbon tax calculator that can approximate the cost impact of the new scheme on the energy bills of Australian businesses. The online calculator enables busi..
17-Oct-2011
Proactive Wealth Creator: Navigating the rollercoaster markets
It’s a common phrase that the stock markets seem to fluctuate like an amusement park rollercoaster – and some investors are left with the same uneasy feeling. During the Global Financial Crisis (GFC) that commenced in late-2007, inv..
10-Oct-2011
Proactive Alert: New Industry Profile Reports PLUS take part in the ' Women in Business Poll'
NEW TO VBD: FREE Industry Profile Reports - choose from over 85+ Industries! How would you like to know how your business is performing in comparison to other businesses in your industry? Well good news! We're now offering FREE Industry Profile ..
26-Sep-2011
Proactive Alert: Do you have a self-managed super fund? You can get a free membership to ASMA
The Australian SMSF Members Association is offering Free memberships to SMSF Trustees until 30 June 2012 - normally $175 per fund. The Australian SMSF Members Association (ASMA) is up and running and in the process of building a unique networkin..
15-Sep-2011
Proactive Wealth Creator: Are you insuring your most valuable asset?
Example numbers & answers for you… Asset Value Safety Net Cost / week House 500,000 House Insurance $15 Contents 100..
03-Sep-2011
How to incorporate social media into your marketing and promotions
By Katrina Lees, The Creative Collective Newcastle While you may be on the social media networks, you could be missing out on legions of new followers and ‘Likers’ if you don’t incorporate your social networks on all your print..
03-Sep-2011
Increased personal liability for Company Directors
By John Woodward, Turnbull Hill Lawyers If your business is operated by a company of which you are the director or one of the directors, then the recent Federal budget has some important news for you. The law In its efforts to curb &lsqu..
03-Sep-2011
Make extraordinary decisions, take powerful actions and get amazing results!
By Troy Wink, VBD Chartered Accountants I love the industry I work in as it provides me the opportunity to be around business people. Some of these people are leaders or aspiring leaders in their fields. It’s a true privilege to be part of &..
03-Sep-2011
'Purple Cow: Transform Your Business by Being Remarkable' by Seth Godin
Book review by Troy Wink A purple cow? Wouldn’t that be amazing! I’m sure it’s something you would tell your friends about. And that’s the essence of this book: making your business, by its very nature, stand out. The w..
03-Sep-2011
Want a 24% higher gross profit margin and 218% higher revenue per employee?
By Phil Bamback, 10X Newcastle Training enhances company profits. Training ups revenue in increased sales, increased referrals, new product ideas, and improved customer satisfaction and retention. Firms that invest $1,500.00 per employee i..
15-Aug-2011
Proactive Wealth Creator: Do your adult children have a back-up plan (other than you)?
Picture this. You’ve recently retired, and you’re reasonably confident you’ll have enough savings to fund the comfortable lifestyle you’d always hoped for. Then you receive a phone call with some bad news – your dau..
25-Jul-2011
Proactive Alert - Are you eligible for a $4,000 payroll tax rebate?
Payroll Tax Rebate Scheme – Jobs Action Plan If you are an employer in NSW, you may be eligible for a $4,000 payroll tax rebate for each additional full-time equivalent employee employed in a position that is a new job, who commences emplo..
14-Jul-2011
Proactive Wealth Creator: Personal risk and life insurance focus
Protecting your most vital asset - yourself Mention insurance and protecting your assets, and most people think about their cars, homes and boats. But how would your family cope financially if you passed away suddenly or could no longer work? Protect..
11-Jul-2011
Proactive Alert: Are you paying your employees travel allowances?
Many business owners regularly pay their employees domestic travel allowances rather than reimbursing them. On 29 June the ATO released the reasonable travel and overtime meal allowance expense amounts for the 2011-2012 income year. Taxation Determin..
20-Jun-2011
Proactive Alert: Are you preparing PAYG payment summaries in July?
It’s almost time for businesses to calculate their reportable employer superannuation contributions. Last year many businesses got it wrong. This year in an effort to clear the confusion the ATO has released a plain English on-line guide which ..
14-Jun-2011
Proactive Wealth Creator: Using Insurance Bonds for a potentially tax-free investment
An alternative tax effective way to invest outside of superannuation Insurance bonds, sometimes also known as investment bonds, seem to be enjoying a resurgence in popularity of late, possibly due to the many changes to laws governing superannuation..
27-May-2011
"Raving Fans" by Ken Blanchard and Sheldon Bowles
Book review by Troy Wink The front cover of Raving Fans states that the book contains “A Revolutionary Approach to Customer Service”. It’s not revolutionary in what it says but rather in what it can do for your relationship w..
27-May-2011
Three tips to optimise promotion through social media
By Gina Gray, Clarity Press If you've dabbled in any social media spaces yet, you'll know that it's easy to lose track of time. Just as it’s easy to lose track of time participating in offline communities, like sports or hobby groups. Yo..
27-May-2011
To know your customer is to serve your customer ... AND your business
By 10X Limited Many businesses operate a ‘splatter gun’ approach, where they try to sell to anyone and everyone that walks through the door. It may work for Coca-Cola, but it rarely works for small and medium-sized businesses. A bet..
27-May-2011
What is your customer service like?
By Troy Wink, VBD Chartered Accountants As another financial year is about to close, many of us are starting to set financial forecasts and budgets. This is a good thing because if we don’t decide on our destination for the next twelve months h..
27-May-2011
What you need to know about webinars
By Katrina Lees, The Creative Collective Newcastle In the past 18 months, webinars have become something of a business ‘buzz’ word. How many invites to a webinar have you received in your inbox lately? In case you’re not su..
11-May-2011
2011/2012 Federal Budget – A snapshot of the proposed changes that relate to businesses
The below summary provides snapshot of the proposed changes that relate to businesses as announced in the 2011/2012 Federal Budget on Tuesday 10 May 2011. General FBT changes to the car statutory rate (Proposed date of affect 10 May 2011..
11-May-2011
2011/2012 Federal Budget – A snapshot of the proposed changes that relate to individuals/families
The below summary provides snapshot of the proposed changes that relate to individuals/families as announced in the 2011/2012 Federal Budget on Tuesday 10 May 2011. Individuals/Families Personal tax rates and the flood levy (Proposed date..
11-May-2011
2011/2012 Federal Budget – A snapshot of the proposed changes that relate to superannation
The below summary provides snapshot of the proposed changes that relate to superannuation as announced in the 2011/2012 Federal Budget on Tuesday 10 May 2011. Superannuation Excess contributions tax relief (Proposed date of affect 1 July ..
03-May-2011
Proactive Reminder: Reduce, defer or eliminate your income tax obligations
Now is the time to explore ways to legitimately reduce, defer or eliminate your income tax obligations, and ensure you aren’t paying too much income tax. If you leave your tax planning and performance review too long, or ignore this window of o..
27-Apr-2011
Proactive Reminder: Don’t miss your superannuation cut-off on 28 April 2012
Meeting your employer super obligations is an important part of running your business. Making contributions to your employees super is compulsory, and must be made by the quarterly deadlines or you face the super guarantee charge (SGC). Al..
03-Mar-2011
Delivering your product or service: a key to supercharging your clients’ experience
By Troy Wink, VBD Chartered Accountants In the previous two editions of VBD’s Proactive Knowledge we talked about the role of marketing and sales in businesses. In this edition we are going to talk about delivery. Delivery is the way your bu..
05-Feb-2011
Building Component Sales – everything that the carpenter and builder needs
Building Component Sales (BCS) is a family owned and operated business in the highly competitive building supplies industry. BCS specialises in nail gun repairs and supplies to the local frame and truss industry as well as builders and sub-cont..
05-Feb-2011
Business interruption insurance – are you covered?
By Andrew Ball, Shortland Insurance Brokers Business interruption insurance is often last on a small to medium client’s insurance agenda, but 70% of businesses not covered by business interruption insurance fail after a major insurable even..
05-Feb-2011
Claiming deductions for donations to flood relief
Tax Commissioner Michael D'Ascenzo announced on 14 January 2011 that the ATO has again approved ‘bucket donations’ for the 2011 Queensland and Northern New South Wales floods as it did for the large number of donations made after the Vict..
05-Feb-2011
Four tips for delivering consistent communications
By Gina Gray, Clarity Press Regardless of how well we plan, sometimes our workload just takes over and, before we know it, we’ve missed a communication deadline (again). If you don’t have a communication plan in place at all then yo..
05-Feb-2011
'Keys to the Vault' by Keith J. Cunningham
Book review by Troy Wink This is a great book that contains lessons for business owners as well as people with an idea wanting to start a business. Most of you will know of the rate of failure (80% after five years) of businesses started ..
05-Feb-2011
Paid Parental Leave ... don’t forget to register!
By Gavin Hanrahan, Turnbull Hill Lawyers The Paid Parental Leave scheme started on 1 January 2011. The scheme is government funded and offers 18 weeks of Parental Leave Pay at the National Minimum Wage (currently $570.00 per week) for ..
05-Feb-2011
Please support the 2011 VBD Charity Golf Day
The VBD Charity Golf Day has been successfully raising funds for local charities for the past seven years, with more than $75,000.00 raised to date. This year, VBD requests your continued support of this event, either by sponsoring the day or putting..
05-Feb-2011
Ten correct ways to use social media to deliver your message to the marketplace
By Katrina Lees, The Creative Collective Newcastle While many businesses have taken the plunge into the social media pool, many don't really know how to swim at all, and many are only paddling, rather than using social media to its full potential. So..
05-Feb-2011
The secrets of profiting from drop shipping – use drop shipping to generate repeat business
By 10X Limited To increase your retention rate and boost your average sale value, you can sell other products to your customer database. However, because many retailers don’t want to buy and hold more stock than is absolutely necessary, t..
29-Nov-2010
How to maximise the chances of selling your home in the first four weeks
By Mark Kentwell, Residential Property Director, PRDnationwide Newcastle Part 1: Promotion of your property Where do buyers come from? I was excited to be invited to write for VBD's Proactive Knowledge and although I could write pages on th..
22-Nov-2010
Your gross margin is the difference between the price of your product and what it costs you to buy or make it. Therefore, the only way to increase your gross margin is to sell at a higher price or buy at a lower price. In most instances (but not..
22-Nov-2010
Insuring through super stretches your cashflow further
If you take out personal insurance through a super fund you could receive tax concessions, or have your premiums deducted from your existing superannuation account balance. A smarter way to insure Buying your insurance through super mak..
22-Nov-2010
Learn to sail with SailTime Lake Macquarie
SailTime Australia is delighted to announce the opening of their new Lake Macquarie base – their fourth base in Australia, complementing the Newport, Middle Harbour and Hobart bases. For many years, the sailing community has enjoyed th..
22-Nov-2010
Sales don't stop at the register
How to sell more to your existing customers Most business owners incorrectly believe that their marketing job is finished once they’ve completed the initial sale. This is a misconception that could end up costing them tens, if not hundreds, of ..
22-Nov-2010
Selling online: the who, what and how summary
By Katrina Lees, The Creative Collective Newcastle Once upon a time, eCommerce, or eBusiness, was only for the web savvy – the savvy entrepreneurs who decided to tap into this new market, and the savvy consumers who jumped on the virtual cart a..
22-Nov-2010
'Start with why: How great leaders inspire everyone to take action' by Simon Sinek
Book review by Troy Wink This is a powerful book. For me, it was a reminder about why I am in business. I suspect that, like many people, I was an employee who went into business to make a difference but, somewhere along the way, became busy..
22-Nov-2010
The easiest way to increase your sales
Want to see your sales increase by 10% or more? Implementing a simple cross-selling strategy could be just the boost that your business needs. Cross-selling is such a powerful, yet easy, way of increasing your average transaction value and, in turn, ..
22-Nov-2010
There's never been a better environment for sales
By Gina Gray, Managing Director, Clarity Press With communication being turned on its head and inside out by the prolific use of social media by consumers, there’s never been a better environment for sales ... but the rules have changed. ..
01-Sep-2010
Win a small business flourish package
As part of Small Business September 2010, Industry and Investment NSW is offering small businesses the opportunity to win the Small Business Flourish Package valued at $17,400. This prize includes: $1,000 ANZ Visa debit card $1,000 ..
12-Aug-2010
Do you pay someone to do your BAS?
Business activity statement (BAS) preparers and bookkeepers who prepare your activity statements for a fee must now be registered with the new Tax Practitioners Board. Using a registered agent will help to protect you and your business. The new ..
12-Aug-2010
Tew Property Consultants: property valuation and real estate consultancy firm
Tew Property Consultants is a Newcastle-based property valuation and real estate consultancy firm that was established in 1998. The principal, Rob Tew, has provided valuation services to a broad range of clients in the Hunter Valley and wider Ne..
12-Aug-2010
The end of another financial year is well underway; have you set your business goals?
By Troy Wink, Director, VBD Chartered Accountants I love the start of a financial year; it’s a time when everything seems possible. During the last few months I have been helping business owners dream beyond their current reality. Th..
11-Aug-2010
By Shane Burrell, Mezzanine-media If I were to ask you which brand of wheat biscuit cereal first comes to mind, I could guarantee your first thought would be Weet-Bix ... was I correct? It was only last week, while shopping at the local supermar..
11-Aug-2010
Cutting red tape for small business through new super clearing house
The Government is offering a free superannuation clearing house service to small businesses with less than 20 employees. This service is optional and is designed to reduce red tape and compliance costs for small businesses when meeting their sup..
11-Aug-2010
Extension in drawdown relief for account-based pensions
The Gillard Government will continue to support self-funded retirees by extending the drawdown relief currently provided for account-based superannuation pensions to the 2010-11 year. Drawdown relief over the past two years has helped retirees ..
11-Aug-2010
Get more IMPACT from your email marketing
By Katrina Lees, The Creative Collective Newcastle It would be no surprise to my clients, colleagues or industry peers that email marketing is one of my favourite strategies for small to medium enterprises (SMEs) to get their message out. Why? B..
11-Aug-2010
How to get your message through the mayhem
By Gina Gray, Managing Director, Clarity Press Between online activity, like social media, and overflowing email boxes, it’s growing harder to get messages through to your audience. How do you get your message through the mayhem and commun..
11-Aug-2010
'Small Business, Big Opportunity – Sustainable Growth' by John Dee
Book review by Troy Wink I don’t think it matters where you sit on global warming; looking after the planet can’t be a bad thing. Many business owners like the idea of ‘going green’ but resist moving away from unsusta..
11-Aug-2010
More employers are incorrectly treating employees as contractors, and pressuring them to get an Australian Business Number (ABN), to reduce labour costs. The ATO considers this to be 'sham' contracting and is focusing on these arrangements. Spec..
11-Aug-2010
The dummy's guide to becoming an expert in your field
By Ryll Burgin-Doyle, co-founder of 10X Limited Nine proven ways to shoot to pre-eminence, grow your customer base and send your profits skywards! It’s not always easy to set yourself apart from the competition. After all, you’re co..
11-Aug-2010
The importance of being … consistent
By Lesley MacCulloch, Birch Writing Solutions Does your written word reflect the way you want your clients and potential clients to perceive your business? Professional? Credible? Consistent? Or is it flung together, done in a hurry and/or lacking in..
11-Aug-2010
The Will the Government gives you
By Bob Baldwin, Chartered Accountant, Trust Estate Practitioner It has been said there are only two certainties in life, taxes and death. Accordingly, the preparation of a proper Will is a matter which every person should consider at least once ..
11-Aug-2010
VBD wins Small Business Excellence at the Hunter Business Awards
At the annual Hunter Business Awards on Friday 30 July 2010, VBD Chartered Accountants won the award for Small Business Excellence. With a total of 36 finalists in this year’s award. Judges attributed VBD’s success to their business..
14-Jul-2010
What you need to do to achieve continued business success
By Troy Wink, VBD Chartered Accountants Another financial year is now underway and it’s important to start planning; now is the ideal time. In fact, if you don’t plan then you’re setting your business on an unknown course. Have you ..
23-Jun-2010
'The Most Successful Small Business in the World: The 10 Principles' by Michael E. Gerber
Book review by Troy Wink Of my book reviews this would be one of my lowest ratings. It’s not because of the messages it delivers, more the way it goes about delivering them. I don’t know about you, but I don’t enjoy being prea..
02-Jun-2010
VBD Charity Golf Day raises $15,371.90 for charity
On Friday, 28 May 2010, VBD Chartered Accountants held their annual Charity Golf Day at Merewether Golf Club, raising much needed funds for The Fred Hollows Foundation and The Rotary Club of Newcastle Sunrise. The 7th annual Charity Golf Day was..
17-May-2010
The NSW Business Chamber provides Fair Work resources for business; including fair dismissal guideli
The new Fair Work system – is your business ready? The Fair Work Act is now fully operational, and from 1 January 2010 businesses need to ensure that they are complying with the new requirements under the Act. Does the Fair Wor..
13-May-2010
Denton Engineering - Quality work, fast turnaround, competitive rates
Denton Engineering Pty Ltd is a locally owned and operated engineering business located in the Thornton Industrial Estate off the New England Highway. Established in 2004 by Ian Denton, Denton Engineering has over 25 years hydraulic and general..
13-May-2010
Managing performance standards
By Phil Bamback, Business Coach, 10X Newcastle Q: “I’m noticing that some of my key staff are beginning to come in later than they should. It’s not by much, sometimes half an hour late. However, these same staff members are known on..
11-May-2010
Greater certainty for SMSF borrowing arrangements
The Government has just announced legislation that will be prepared to amend the income tax treatment of ‘instalment warrant’-type loans of super funds. This provides welcome certainty to SMSF trustees who have borrowed under these loans,..
11-May-2010
Managing the performance of employees should be owner's top priority
Managing the performance of employees should be the business owner’s top priority … and should be an integral part of the culture of the business. Managing employee performance is critical to the success of any business. One of the ..
11-May-2010
Protect your business’s revenue
If you’re a business principal, you should consider insuring the people who play a key role in the ongoing success and profitability of your business. What are the benefits? If something was to happen to you or another key person, the ins..
11-May-2010
'The Marketing X Factor' by Nic Clark
Book review by Troy Wink What is the x factor of The Marketing X Factor? It’s the possibility of doubling your profits in 120 days. Wow! Cashflow is the lifeblood of a business. It allows the mind of the business (the document..
10-May-2010
Essential elements of top performing websites
By Katrina Lees, The Creative Collective Newcastle Having studied, designed, tweaked, admired and critiqued hundreds of websites over the past eight years, we’ve come to know good websites. And one thing is clear: good sites, in fact the best p..
03-May-2010
Claim correctly on travel expenses for rental properties
The ATO has developed a new publication called Claiming travel expense deductions to help tax payers understand some key rental property investment issues and make correct travel expense claims for rental property investments. The publication: ..
03-May-2010
Do you expect a labrador to fly like an owl?
by Matt Linnert, Linnerts Expecting someone to work day in, day out, in a way that doesn’t suit their natural preferences is unproductive for the individual, and unsustainable for the organisation. Sometimes we have expections of people that, i..
03-May-2010
New ASIC guide for retail investors
The Australian Securities and Investments Commission has launched a free guide for retail investors, Investing between the flags, which outlines the basic principles of investing, and gives suggestions on developing and sticking to a sound investment..
03-May-2010
Ten tips to protect your financial identity
1. Always visit the website of an organisation by typing the web address into your browser. If you receive an email inviting you to click on a link, always type the web address into your browser, or email or call your friend or bank and confirm the..
28-Apr-2010
Proactive Reminder: Reduce, defer or eliminate your income tax obligations
Now is the time to explore ways to legitimately reduce, defer or eliminate your income tax obligations, and ensure you aren’t paying too much income tax. If you leave your tax planning and performance review too long, or ignore this window of o..
21-Apr-2010
Proactive Alert: Deadline for ATO small business help is fast approaching
The ATO recently announced that their deadline for measures to help small businesses is fast approaching. Businesses with an annual turnover less than $2 million have until 30 June 2010 to request a 12-month general interest charge (GIC) free p..
20-Apr-2010
‘The One Minute Manager’ by Kenneth Blanchard & Spencer Johnson
Book review by Troy Wink Just like a one minute manager, this book gets the most out of a person in a very small amount of time. It’s not about manipulation; it’s about recognising that every person does the best they can at any ..
20-Apr-2010
The end of another financial year is fast approaching – how is your business performing?
By Troy Wink, VBD Chartered Accountants If you don’t know, or only have a gut feel of how you are going, then most likely you are leaving success to chance. Sometimes – and only sometimes – this is enough; however, you only have to ..
01-Apr-2010
Proactive Alert: NSW OSR (Office of State Revenue) are significantly increasing audits on Payroll Ta
As a consequence of declining stamp duty income during the global financial crisis, the NSW Office of State Revenue (OSR) has significantly increased payroll tax audit activity in NSW. To leverage their resources, they have substantially increa..
22-Mar-2010
The fringe benefits tax (FBT) year ends on 31 March, so now is a good time to consider whether you have any FBT obligations. If you provided a fringe benefit to an employee, you may have to lodge an FBT return and pay FBT. For help working out i..
17-Mar-2010
Newcastle Show Holiday is now an entitlement for all NSW private sector employees
Two significant events occurred during December and January, which have yet again changed the industrial landscape for NSW employers. In December, the NSW Parliament referred its industrial powers to the Federal Parliament – this means all..
01-Mar-2010
Client achievements over the last quarter
Every fortnight throughout the quarter, the VBD team gets together to report on our clients' successes and achievements. Winning clients are then rewarded with a scratchie pack for their efforts. This quarter, we would like to congratulate the f..
24-Feb-2010
Many property investors miss out on thousands of dollars in tax deductions!
By Troy Wink, Partner, VBD Chartered Accountants Depreciation is a legitimate tax deduction, yet many property investors don’t claim what they are legally entitled to; a costly mistake when it comes to tax time. This is baffling when you consid..
17-Feb-2010
Marketing forecasts show distinct trends towards more online mediums
By Katrina Lees, The Creative Collective Newcastle The 43% of businesses that don’t have a business website are doing themselves a massive injustice; especially as we reveal that 2010 marketing trends show a distinct shift towards online mediums. By ..
16-Feb-2010
Drifting towards sustainable growth
By Brodie Hussain, E.L. & C. Baillieu Stockbroking Pty Ltd Investors with a ‘glass half full’ world view would be pleased by recent events. Since the low point between 6 March 2009 and 11 January 2010 the Australian market as measured by the S&am..
16-Feb-2010
By Phil Bamback, Business Coach, 10X Newcastle How to get a lot done fast, or more importantly, how to get a lot of the right stuff done fast. You see there’s no success or failure in anything, whether it’s business, health or relationships. It ..
16-Feb-2010
The tax effective retirement trifecta
Since 1 July 2007 we have had a large proportion of our self managed superannuation fund (SMSF) clients taking advantage of the change in rules that came under the Government's SimplerSuper regime. We like to refer to this as the ‘tax effe..
10-Feb-2010
Consistency = lifestyle success
By Dr Trent Watson, Ethos Health Consider this...the single biggest factor associated with effective and successful lifestyle change is not just making the change but living with the change; in other words, consistency. Aristotle put it in these word..
10-Feb-2010
Do you use the FIFO goal system?
By Matt Linnert, Linnerts Imagine trying to paint a picture on top of an already busy canvas. It may work out to be a masterpiece, but you are likely to be up against it. The same goes for your life, career and business. When you are just adding..
10-Feb-2010
'Eat That Frog' by Brian Tracy
Book review by Troy Wink “Eat That Frog” - yuk, right? Well, to achieve success it appears that’s what it's all about. I wanted to read this book because I heard it was about procrastination and it is; who is going to leap at eating a frog? The..
10-Feb-2010
FBT non-compliance proves costly for employers
A recent case at the Administrative Appeals Tribunal (AAT) meant an employer had to pay $87,739 plus penalties and interest. The case involved a company employer and an employee director. The employer failed to lodge a Fringe Benefits Tax (FBT) ..
10-Feb-2010
Tax deductibility still a priority
To ensure financial planning advice remains affordable for more Australians, industry associations are still eager for the Federal Government to introduce tax deductibility on financial advice. Investment and Financial Services Association (IFS..
10-Feb-2010
The Workplace Safety Specialists
eFirstaid trading as The First Aid Training Company and Enervation Learning The First Aid Training Company is a leading private workplace safety training provider in Australia. We are engaged in every aspect of the first aid industry and our principa..
20-Jan-2010
Proactive Alert: Australian Government warns about Internet Explorer problems - Web browser security
Australian Government warns about Internet Explorer problems - Web browser security bug reported The Australian Government has warned Australians to either install temporary fixes from Microsoft or to use alternative browsers. What is the ..
22-Dec-2009
Business advice: Close your doors for Christmas
10X Business Coach warns that business success in 2010 is linked to Christmas holidays Local business expert, Phil Bamback, warns Newcastle business owners that, failing to take a break from their business over the Christmas period, can have dam..
30-Nov-2009
Windows 7 - Is it compatible with your current accounting systems?
It has been brought to our attention that there may be some compatibility issues with the new Windows 7 and your accounting software. The general consensus from both MYOB and Quickbooks is that compatibility testing has not yet been completed f..
24-Nov-2009
If it works for an Olympic athlete it will work for you!
Feature company: Australian Sports Nutrition Australian Sports Nutrition (ASN) have been in business since 2002, and in that time have grown from one small store in Queensland to nine stores nationally. The success they currently experience is due to..
24-Nov-2009
Is fatigue affecting your workplace?
By Dr Trent Watson, Ethos Health Fatigue is a significant and often overlooked risk factor which can affect health, safety and productivity in the workplace, with consequences ranging from poor concentration, procrastination, fatigue related injuries..
24-Nov-2009
Proactive Alert: Supercharging your Superannuation – SMSF borrowing strategies
Two years on from being passed as law, the changes to the superannuation borrowing rules are being embraced by astute business owners and property investors alike. In these uncertain economic times, the opportunities available to increase wealth by m..
18-Nov-2009
'Laughter, Sex, Vegetables & Fish' by Dr John Tickell
Book review by Greg Valentine This should be compulsory reading for everyone - not only those wanting to lose weight, but those reading purely for personal enjoyment. Dr Tickell’s book discusses the "10 Secrets of Long Living People", wit..
18-Nov-2009
Ten tips to top the search engines (Search Engine Optimisation)
By Katrina Lees, The Creative Collective Newcastle Simply having a website doesn’t mean you’ll automatically get traffic. Recent research indicates that 87% of all Australians are looking to the internet for information about products and services..
17-Nov-2009
'Good to Great' by Jim Collins
Book review by Troy Wink Why greatness? If you are passionate about what you do, you know the answer. The question is not why, but how. This book might analyse large corporate giants, however the underlying principles of greatness apply t..
17-Nov-2009
More certainty for NSW businesses as payroll tax reforms pass Parliament
Payroll tax reforms which will give NSW businesses greater certainty passed the NSW Parliament on 11 November 2009. NSW Treasurer Eric Roozendaal said agreement has been reached across Australia to implement new uniform payroll tax rules. ..
17-Nov-2009
Sell smart to increase your profits – up-selling
I’m sure you remember that time you went to McDonald’s and the teenager at the counter asked you, “Do you want to super-size that?” But have you ever stopped to consider just how much money McDonald’s makes by using that simple selling strategy alone..
17-Nov-2009
Stop! Think about what you’re saying
By Lesley MacCulloch, Birch Writing Solutions Are you aware that your words convey two important messages: one written, one subliminal? Your written message This message is tangible. This message is about what you want to say. Mostly, this isn..
17-Nov-2009
Tax Audit Insurance…protect your business against the ATO business hit list
It used to be a question of if; now it seems to be a question of when. The ATO continues to announce significant increases in audit activity. Our article, 'The small business hit list: is the ATO targeting your business? (http://www.vbd.com.au/Announ..
17-Nov-2009
The right to request flexible work arrangements - the second of the National Employment Standards
By Gavin Hanrahan, Partner, Turnbull Hill Lawyers The second of the National Employment Standards (NES) provides that if you employ a parent who has responsibility for the care of a child who is under school age, or under 18 and has a disability, the..
17-Nov-2009
The small business hit list: is the ATO targeting your business?
Last month, the Australian Taxation Office (ATO) released a raft of new benchmarks for small businesses. Under the gentle guise of "helping small businesses with their tax compliance", the benchmarks are, in reality, one of the key indicators used to..
23-Sep-2009
New National Employment Standards will be law in five months
In less than five months the National Employment Standards (NES) will be law. They commence on 1 January 2010. Between now and then we’ll be publishing a series of articles which will detail the effect of each of the NES and possible pi..
24-Aug-2009
Moments of Truth - Book review by Troy Wink
- book review by Troy Wink Every business has moments of truth. They include every interaction between your team and your customers, and critical periods in your relationship with your customers, such as the point when your customers ..
10-Aug-2009
10 good reasons why Simon’s Carpet Choice are the right choice
Simon's Carpet Choice commenced trading in January 1982 from Tudor Street, Hamilton, and still operate from the same location some 27 years later. Having long serviced the Newcastle community, Simon’s Carpet Choice are your experienced choice f..
10-Aug-2009
Acres of Diamonds- Book review by Troy Wink
- Book review by Troy Wink I love this book - it’s one for the naysayers. “It’s impossible to be successful” or “I’ll be successful when” - surely you have heard such comments? Sometimes we hear them them in our own m..
10-Aug-2009
Small business and general business tax break – frequently asked questions
The Treasury have released a set of frequently asked questions to assist businesses in understanding how the Tax Break is intended to operate. The Small Business and General Business Tax Break was announced on 3 February 2009 as part of the Gov..
10-Aug-2009
Stay hydrated and stay productive
by Coach Cameron, XPRESS Health Studios One of the biggest causes of fatigue in the workplace is dehydration. Think about what you did today at work and consider the following: Did you start to lose concentration levels..
10-Aug-2009
VBD Charity Golf Day raises $14,210 for The Rotary Club of Newcastle Sunrise and Guide Dogs
On Friday 26 June 2009, VBD Chartered Accountants held their annual Charity Golf Day at Merewether Golf Club, this time raising much needed funds for both Guide Dogs NSW/ACT and The Rotary Club of Newcastle Sunrise. The sixth annual Gol..
10-Aug-2009
What can be measured, can be managed
Measuring your marketing results is one of the most important things you can do for your business. It is the yardstick that gives you an indication of how healthy or unhealthy your business is across many different areas. If you like, it’s your..
07-Aug-2009
‘Business Building Workshop’ – a learning module to help you improve and develop your business
This is a workshop, presented by Trevor Monaghan, that demonstrates how you can work smarter, not harder, on your business to make dramatic changes through the use of simple yet effective tools and strategies. Best of all, we’ll give you two ti..
07-Aug-2009
Congratulations to Trevor Monaghan - finalist, Hunter Business Chamber Awards 2009
For those of you who haven’t been fortunate enough to meet him, Trevor is a Taxation and Accounting Manager at VBD Chartered Accountants and Co-Director of 10X Newcastle. Recently, Trevor was a Finalist in the Young Achiever of the Year catego..
28-Jul-2009
Twelve-month general interest charge (GIC) free payment arrangements
The Tax Office has introduced new measures to help small businesses that are struggling to manage their tax payment obligations in the current economic climate. This measure is available to businesses with an annual turnover of less than $2 ..
08-Jul-2009
Proactive Business Alert - Changes to claiming Family Tax Benefit
From 1 July 2009, claims for family tax benefit, including previous year claims, can no longer be accepted by the Tax Office. To claim family tax benefit, you need to apply to the Family Assistance Office by either lodging: online ..
22-Jun-2009
Proactive Business Alert - Watch out for ATO email scams
The Australian Taxation Office (ATO) is warning people to be wary of fraudulent emails being circulated that claim to offer a refund. Following our recent newsletter highlighting this issue, we have had some of our own clients contact us after re..
