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Welcome To 'Your Advantage' Newsletter # 17
Dream On!
2006 seems to have come and gone very quickly!
The World Cup, AFL finals and the Ashes have been decided (well almost), we're experiencing higher oil prices and interest rates, another Super Budget has been delivered by Peter Costello and we now have a new Federal Labour Leader.
As we pointed out in our last newsletter, there are plenty of planning opportunities in respect to the new Superannuation reforms.
But, looking ahead, what little Christmas goodies would we have liked to see sitting under this year's Christmas tree?
From a business tax reform viewpoint, a token effort has been made to simplify and streamline the tax system at a revenue cost in the order of $435m over four years. Whilst this might sound a lot, in reality, with a recurring budget surplus of over $10 billion, $435 million over four years is minimal.
As tax law is developed, it is now developed with very few threshold levels thereby ensuring a significant part of our client base has to deal with similar tax provisions as our Nation's largest public companies.
Perhaps further funds could be allocated in these relative good times and applied to areas such as indexing personal tax rates, fostering innovation by encouraging business spending on research and development, reconsider the tax treatment of corporate losses and reducing the gap between the corporate tax rate and top personal rate and reduce state taxes (such as stamp duty and payroll tax).
It is understandable that substantial business tax reform could not have been developed in the short term because the revenue cost would probably be too great. But surely a significant opportunity has been lost as this country is now in very good shape. The current Government should have had the vision and foresight to lay the foundations for a better, more simplified and workable tax system. In our article the "Top 10 Tax Reform Issues" we detail further measures that could impact future Christmas spirits!
In our "Coaching Tips" article we provide some insights into creating lifetime wealth. If you know what you want, study it and become and expert in it. Being an expert helps you to build your own self belief and confidence and it also helps you make informed choices. So if you want to make money, study the acquisition of wealth. If you want to be outstanding, study outstanding people. If you want to be an outstanding business person, study outstanding business people and their systems. Once you have studied, then practice and practice. You apply the same sporting principles as in business and personal development. Many people gain knowledge and then fail to apply it.
So as Christmas approaches, we hope you have met or are well on the way to meeting your own goals. If not, remember it's only half time and you can make adjustments in the second half!
Finally, may we take this opportunity on behalf of our Team at Advantage One, to wish you and your family a festive Season full of great times in great company and have a prosperous New Year.
Note. This office will be closed from 22nd December 2006 and will reopen on Monday 8th January 2007.
This newsletter will provide you with a wide range of business related news and information, useful knowledge, profile some of our team members, introduce some of our clients and keep you informed of upcoming seminars and events.
We value your feedback so don't be backward in coming forward! Feel free to send suggestions, comments or your opinions to
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Other new articles and information recently listed:
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