WHAT OUR CLIENTS SAY

Sara’s passion for dentistry led to the decision

to establish her own practice where she could

provide highly skilled and personal dental care

to every patient. Sara specialises in general

restorations, cosmetic dentistry and dental

implants and enjoys being part of the personal

journey where patients find the confidence to

smile again.

Summ

er Ed

ition 20

16

THIS EDITION:• Client Profile – Hello Smiles

• Tax Update – Company Tax Rate – Christmas and

Fringe Benefits Tax (FBT)

• Outsourced CFO – What are you

waiting for – get 2017 started off with a bang!

• Team News

“David helped me negotiate my way through my

exit from a long standing and complex group

structure. Having an objective and experienced

CFO provide detailed financial and commercial

oversight, attend meetings and scrutinise the

implications of each decision was critical to

achieving a satisfactory outcome. It must be said

that David’s extensive experience in dealing with

complex negotiations and oversight of the legal

process was central to achieving a successful

outcome. Thank you to David and his team.”

Gavin Kelly, Islex Australia

We congratulate Dr Sara Tabrizi on the recent

commencement of her new dentistry practice,

Hello Smiles Dentistry at 196 Hawthorne Road,

Hawthorne. Sara has been working hard on

starting her business and it’s thrilling to see the

doors finally open.

Since graduating as a dentist in 2008 Sara has

worked in a busy Brisbane practice where she

has developed her skills and experience to be

highly regarded by her peers and patients. Sara is

the past President of the Brisbane Dental Study

Club and has been the Queensland Secretary

of the Australasian Osseointegration Society for

3 years.

We enjoy helping businesses succeed.

We also enjoy our clients telling their friends

and business associates about us. If you know

someone who may benefit from our help, please

pass on our details or call us on (07) 3221 4465 or

email david@dbsy.com.au or john@dbsy.com.au

CLIENT PROFILECongratulations Hello Smiles!

Continued over page

“It is my dream to watch my patients arrive relaxed and leave with the confidence to smile.”

Dr Sara Tabrizi

Hello Smiles provides general dentistry such as check-

ups, fillings, root canal therapy and oral hygiene

for the whole family. Hello Smiles also offers more

comprehensive and advanced dental services such as

dental implants, crowns and bridges.

By keeping up to date with the latest technological

advances, Sara provides high-quality dental care to

make the dental experience as efficient and rewarding

as possible. Most importantly, Sara wants you to love

your teeth, to feel confident and love your smile.

Sara notes that, “through the establishment process,

de Blonk Smith Young assisted us with all the

intricacies of my business start up. Even from our ini

tial discussions, John was able to give me some clarity

on what I needed to achieve. John has always been

very positive towards my goals but also pragmatic

when it came to the project’s feasibility. I can’t thank

John and his team enough for all they have done for

me. I can now run my business with ease.”

We wish Sara every success with her new practice.

If you would like any more information on the

services provided by Hello Smiles Dentistry, please

visit their website: www.hellosmiles.com.au

2Continued on page 4

CLIENT PROFILE cont’d

TAX UPDATECompany Tax RateAs it stands, small business entities with a turnover of less than $2 million are taxed at a 28.5% rate (as at

1 July 2015).

The 2016-17 Budget proposed a further reduction of this tax rate to 27.5% from 1 July 2016, along with a small

business eligibility threshold increase to less than $10million (up from $2 million).

A key point here is that it applies to companies carrying on a business, so companies that purely own shares or

an investment property will fail to benefit.

Although this proposal is a welcome change for cash flow purposes, there is a downside. The imputation rate for

dividends will align with the corporate tax rate (27.5%). This means that shareholders receiving a dividend will

receive a smaller franking credit and subsequently their ‘top up tax’ on the dividend income will increase. The

bottom line for your company’s current franking account balance is that it will suddenly become less valuable.

“Even from our initial discussions, John was able

to give me some clarity on what I needed to

achieve. John has been very positive towards my

goals but also pragmatic when it came to the

project’s feasibility. I can’t thank John and his

team enough for all they have done for me. I can

now run my business with ease.”

Sara Tabrizi, Hello Smiles Dentistry

“We believe in positive dental experiences for the whole family.” 196 Hawthorne Road, Hawthorne

3

Hopefully you are addressing these areas

well. If you would like help in planning for

improvements in your business, please

contact David or John on 07 3221 4465.

OUTSOURCED CFOTM

What are you waiting for — get 2017 started off with a bang!No matter how small you may think your business is,

I can assure you that many of the issues you face are

the same ones faced by the bigger end of town.

We deal with a wide range of businesses varying in size,

whether that be measured by turnover, staff numbers

or number of sites. We find it is common for business

owners to be surprised to know that even public

companies, with all their resources, find themselves

trying to answer a lot of the same questions.

Do any of these sound familiar……

Several studies seeking to identify what CEO’s of

major corporates are focusing on in the year ahead

have noted:

• Employment flexibility — trying to attract and

keep the best people

• Innovation — the drive for new and improved

products and services

• Moving fast enough — the world is moving faster

and we need to keep up in all areas of the business

• Labor shortages — where to find appropriately

skilled team members

• Digital transformation — the need to stay relevant

• Customer connection — the need for genuine

connections to maintain loyalty

• The US election — well, we know what happened,

and I guess we will find out what that means over

the coming months……..

So don’t feel alone………..I’m sure you can see that

many or most of these are your issues too.

What this drives home is the need to allow sufficient

time to do your planning………and to implement your

plan!! (The best plans are no good if they gather dust

on the shelf).

Many people talk about not being able to find enough

time to ‘work on the business’ because they are too

busy ‘working in the business’.

Don’t let this be you.

There is no time like the present (i.e. the Christmas

— New Year holidays) to take some time to sit down

and consider some key questions:

• What was good about last year?

• What was bad about last year?

• What really drives me to succeed?

• What do I really want from my business?

• What do I want in terms of personal life balance?

• What do I love doing (in my business)?

• What do I hate doing (in my business……

otherwise the list can get too long J)?

I feel very sure that if you spend the time to really

consider these questions you will start to see some

real clarity forming. As you start to see beyond the

forest (day to day business activities) you will start to

see (or remember) your vision for being in business.

From there, starting to set a concrete plan with goals,

targets, actions and timelines will be much easier………

and seem like a much more valuable experience.

And don’t forget………you are not alone………even the

big boys are having to do this……….and they don’t

have your advantage of being able to react quickly

and to innovate when necessary in the way only a

small business can.

So what are you waiting for…………………

www.dbsy.com.auThis newsletter has dealt with matters of a technical nature in general terms only. No responsibility for loss by any person acting or refraining from action in reliance upon any material in this newsletter can be accepted by any of the partners or staff of the firm. Professional advice should be obtained before applying the information to particular circumstances.

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PROFIT  VALUE  GROWTH  CASH FLOW  SUSTAINABILITY

TAX UPDATE cont’d

Christmas and Fringe Benefits Tax (FBT) With end of year festivities fast-approaching, you might be busy planning the office Christmas

celebrations. From a tax perspective, there are a couple of points to keep in mind:

Christmas Parties

— A Christmas party held for your employees and their families will generally be exempt from FBT

if the cost per person is less than $300. It will not be tax deductible.

— A party that costs more than $300 per person will be subject to FBT and tax deductible.

Christmas Gifts to Staff

— Christmas gifts to your employees that are considered non-entertainment, for example gift vouchers,

will be exempt from FBT if the gift costs less than $300 (GST inclusive).

— This non-entertainment gift will be tax deductible, and you can claim the GST credit.

— Entertainment gifts, for example tickets to the cricket that cost less than $300 are exempt from

FBT but are not deductible. Entertainment gifts that cost more than $300 are subject to FBT and

are tax deductible.

Please contact our office on (07) 3221 4465 if you have any questions about your taxation affairs.

If you have changed your address details or would like to discontinue receiving Signal, please contact us on

(07) 3221 4465 or email info@dbsy.com.au

TEAM NEWS We would like to Congratulate Emily Connell on being selected as the recipient of the CPA Australia Prize (2nd year) for the 2015 academic year! Your hard work and dedication has paid off.

With another year coming to a close very quickly, we thank all of the team for a fantastic year and we look

forward to seeing what the New Year holds – after a well earned break of course!!

OFFICE CLOSUREOur office will be closed from Thursday 22 December 2016 and will reopen on Monday 9 January 2016.

We thank you for your support in 2016 and wish you and your families a very merry Christmas and a happy

New Year!