What’s the best way to start a business?

09/07/2018 // by admin

There are many ways in which people can start a small business. A common way for many is to start the business from scratch, often on a part-time basis while working full-time, and then switching to operating full time when sufficient income is produced.
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Another popular method is for an existing business to be purchased. In some cases this can be buying into a franchise, or for others it is buying a business that has operated for a number of years. Where a business is purchased the tax treatment differs depending on what is included in the purchase price.

Q. I recently bought a chiropractic business from a friend for $140,000. I didn’t take out a loan to pay for it instead I payed for it with my own money. I am wondering if I can use the $140,000 as a tax deduction from my income?

A. The first thing to establish is exactly what was included in the $140,000 purchase price for the chiropractic business. Where the purchase price included equipment, furniture and fittings a value needs to be worked out for these assets. Also if stock of chiropractic goods for sale by the business was included a value needs to be placed on these.

Any assets, including equipment and fittings, that cost less than $1000 can be claimed in full as a tax deduction in the year that you bought the business. Assets costing more than $1000 can be written off under the simplified depreciation rules for pooled assets. This result in you receiving a deduction of 15 per cent on the value of those assets in the year the business was purchased, and then 30 per cent on the written off value for each year after that.

If you purchased items of stock that will be sold the value paid for them will effectively be your opening value for stock. The amount that you can deduct in the first year will be the cost of the goods sold. This is calculated by adding the value of any stock purchased during the year to the amount paid for stock included in the $140,000, then deducting the value of stock on hand at the end of the year.

Once the value for assets and stock is established this is deducted from the purchase price to work out what you paid for goodwill. The amount paid for goodwill cannot be deducted in your first year but is carried forward until you sell the business.

If you receive an amount for goodwill when and if you sell the business, that is greater than the amount included in the $140,000, the profit will be dealt with under the capital gains tax rules. As long as you qualify as a small business entity, are turning over less than $2 million a year, you will qualify for the small business capital gains tax discounts and concessions. This can result in no capital gains tax being paid on any gain you make.

Questions on small business income tax and other issues can be emailed to [email protected]南京夜网.au

Max Newham is the founder of www.smsfsurvivalcentre南京夜网.au.

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Boy turns 12 after losing family in horror crash

09/07/2018 // by admin

Matilda, Eathan, Ryan and Joan. Eathan is the only survivor of the crash. Photo: Sunshine Coast DailyThe only survivor a horrific Sunshine Coast crash has turned 12 days after losing his entire family.
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Eathan Jackson-Cook is being cared for by relatives after losing his mother and three siblings. His younger sister, Matilda Jackson-Cook, had been clinging to life after the crash, but passed away in hospital overnight.

Matilda was taken to the Royal Children’s Hospital after Friday’s crash at Glenview, which had already claimed the lives of her 30-year-old mother Keisha Ann Jackson, and siblings Ryan Jackson-Cook, 10, and Joan Jackson, 4.

Eathan suffered minor injuries in the crash.

Initial investigations suggest the vehicle skidded off the road and hit a tree about 9pm on Friday.

Police believe excessive speed and wet conditions may have been a factor in the crash, which happened at a bend in the road in an 80km/h zone.

Acting Superintendent John Boznjak said the forensic crash unit was continuing its investigation.

“It’s very tragic. [Matilda] was one of the people paramedics tried very hard to save. We were hoping beyond all hope that she would make it,” he said on Monday morning.

“The speed the vehicle was travelling at was a concern and we’ll be looking at that as part of the coronial inquest.”

The results of toxicology tests conducted on driver Keisha Jackson could still be four weeks away, he said.

Acting Superintendent Boznjak said police were yet to speak with crash survivor Ethan and would conduct more interviews with other witnesses in the area.

“We need to to continue to push the message that people need to be mindful of the weather conditions and they need to be mindful of what speed they’re travelling at,” he said.

This story Administrator ready to work first appeared on Nanjing Night Net.

Dental waiting list to rise as jobs go from LCHS

09/07/2018 // by admin

Latrobe Community Health Service says its dental waiting list is expected to rise, following the announcement of staff redundancies.
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On Friday, the health service announced up to 16 full-time equivalent jobs would go including dental assistant, dental technician, dental prosthetist, counsellor and administration positions.

It is understood up to eight FTE positions will go from the dental sector, five from corporate and administration, and 1.5 FTE roles in the counselling department, which would affect three workers.

LCHS chief executive Ben Leigh cited changes to state and federal government funding for the decision to shed staff, in particular the deferral of round two of the National Partnership Agreement by a year.

“It was always anticipated the second round would commence in July 2014, that has been deferred by the Federal Government until July 2015,” Mr Leigh said.

“We had built up our workforce in anticipation for the funding to continue, unfortunately it hasn’t.”

Mr Leigh said the first round of the National Partnership Agreement funding had enabled LCHS to bring its dental waiting list down to about three months.

“It would be fair to say for people with a non-urgent tooth, the waiting list might start to increase gradually,” he said.

“For urgent dental issues they will be seen at the next available appointment and for children, because there’s a new Federal Government child dental benefits scheme, which started this year, we’ll be making the most of that.”

Mr Leigh said the health service had made a concerted effort to reduce the dental waiting list; six years ago the wait was up to five years.

He said the State Government’s recommissioning of alcohol and drug services had contributed to LCHS’s decision to cut administrative roles.

“We were successful in getting most of the drug and alcohol services, but intake and access was given to a statewide provider,” Mr Leigh said.

He said in regard to the counselling department, LCHS had identified it was overstaffed.

“Sixteen jobs is the worst-case scenario. We would hope it’s less than that and we would look at redeploying within the organisation where we can,” Mr Leigh said.

“When additional money does become available we’re hoping to be able to ramp up again quickly.”

Attempts by The Express to contact the Australian Services Union were unsuccessful.

Mr Leigh said LCHS would engage with relevant unions.

Labor candidate for Morwell Jadon Mintern said the situation was “another example of the Coalition’s neglect of local people, families and communities” who were facing rising costs of living, high unemployment and cuts to healthcare, education and training.

Federal Member for Gippsland Darren Chester confirmed the partnership agreement had been deferred, but said there would still be a “flow of funding” from when stage one ends and stage two begins.

“Negotiations with the states and territories regarding the details of NPA 2 are in the early stages, so it would be premature to assume what funding will be available under that envelope,” Mr Chester said.

He said he would continue to advocate on behalf of LCHS to secure further funding opportunities.

“I’m keen to work with the relevant ministers and Latrobe Community Health Service to maintain the excellent services they provide to the community.”

State Community Services and Mental Health Minister Mary Wooldridge said the recommissioning of drug and alcohol treatment programs came about in response to calls for change from within the sector.

She said the changes would provide the community with streamlined and centralised access to treatment services and organisations would be supported by more flexible funding arrangements.

This story Administrator ready to work first appeared on Nanjing Night Net.

Through the wilderness

09/07/2018 // by admin

Michael McLellan was among a group of teenagers who took to the slopes of Mount Baw Baw recently.
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Fifteen kilogram backpacks, rations, and seven days of hiking alongside strangers.

The latest Gippsland Wilderness Program camp threw up a raft of challenges for local youth.

Hiking from Mallacoota to Lake Wonboyn in New South Wales, Traralgon’s Michael McLellan, 15, was among the team of seven who took on the challenge in May.

“Walking with the pack on when it’s full was challenging,” Michael said.

“The hardest bit would have been walking on the sand, because you keep sinking.

“Along some tracks you were walking through bushes higher than you.”

The program aims to give teenagers who have come through difficult circumstances an opportunity to build confidence.

Michael, who hopes to become a plumber, said the experience taught him discipline and “how to have fun”.

He said his favourite part of the journey was picking oysters off the rocks at the Merrica River in NSW.

Gippsland Wilderness Program senior coordinator Doug Moczynski said during the hike, participants were responsible for themselves, their schedule and ensuring they had enough supplies.

“Like all groups you’ve got your normal first couple of days of excitement and then it gets really hard and the wheels start to fall off,” Mr Moczynski said.

“By the second last night, they really came together as a team and began to enjoy the experience and reflect on it in a positive way.”

The program has been running through Berry Street for 10 years and in the past year has worked with more than 80 teens aged 13 to 16 years.

“It’s probably something where you might plant the seed of thought and in a couple of years the people take it upon themselves to make their lives better,” Mr Moczynski said.

“Ultimately it’s about making positive steps towards the future and realising they have plenty of potential.”

As a reward for successfully completing the hike, the group recently took to the slopes of Mount Baw Baw.

The resort gave the group free access as part of its partnership with the Wilderness Program.

This story Administrator ready to work first appeared on Nanjing Night Net.

Jumbo jets

09/07/2018 // by admin

FOOTBALL
Nanjing Night Net

GIPPSLAND LEAGUE

By samuel darroch

TRARALGON senior football coach Paul McCulloch has resigned after two seasons in charge.

The Maroons stalwart, who racked up just shy of 200 senior games as a player, along with periods as assistant coach and chairman of selectors, cited work and family commitments as major factors in the decision.

“I sort of feel that for the club to take the next step and move forward I’m probably going to have to find more time and commitment to make all that happen that we keep improving and I’m really finding it hard with my work commitments and missing out on a bit of family time as well,” McCulloch said.

‘Jumbo’ McCulloch replaced Josh Jennings in 2013, and has since put a great emphasis on youth development and club unity.

While on field results had not met McCulloch’s vision, in particular this season when the club failed to reach finals, he succeeded in other facets.

“I’ll probably walk away unsatisfied with where we finished on the ladder this year, but I’ll also feel satisfied that there’s some really good unity and culture down at the club and we’ve just got to continue to build those areas,” he said.

“We’re not far off it, our last two months we’ve been in all games with top five teams and we’re probably a good key forward and a hard bodied midfielder off taking that step.”

After acting as assistant to Greg Morley from 2001, McCulloch’s first head coach appointment came last year.

Having been out of the game for some time, he said the dressing room culture had been a welcome rediscovery.

“I think after you’ve stopped playing for a while and you’re back in charge you sort of realise the enjoyment of the camaraderie, I think when you stop playing you lose that,” he said.

Under McCulloch, some 11 under 18 players have been blooded into the senior ranks over a two year period.

With established players such as Jaime Aitken, Mick Geary and Jennings needing little guidance, McCulloch was able to direct more attention into the development of youth.

“I really enjoyed developing the younger players and mentoring them… the fact that we’re bringing some really good kids on that are going to be the future of the club.”

The club is hopeful of appointing a new coach by the end of September, and McCulloch would like to see his successor capitalise on the ground work he had laid.

“They don’t want to go backwards, the building blocks are there to move forward if it’s done right,” he said.

“I think it’s pretty important they keep the majority of that playing group together, I think as the season’s worn on there’s been some real unity amongst the playing group, especially in the past two months and I’d hate to see that fall away.”

McCulloch leaves the role with a winning record of 20-16 and one draw over two seasons.

Club president Andrew Quenault said the Maroons would have loved to keep McCulloch on deck and praised his efforts in the position.

“He’s galvanised the group, I think he’s taken the selfishness out of the group and made them a more team-orientated, club orientated group,” Quenault said.

“The amount of work he put in was phenomenal… you’d go a long way to find another coach with that type of commitment, unfortunately he feels he needs to put more in and he can’t do that.”

Traralgon marked McCulloch’s last game off with a win 12.19 (91) to 9.9 (63) over Leongatha on Saturday.

This story Administrator ready to work first appeared on Nanjing Night Net.

No Opal card? Commuters to face lengthy queues

09/07/2018 // by admin

Transport Minister Gladys Berejiklian is warning train travellers they could face lengthy queues at ticket windows next Monday if they do not have an Opal card.
Nanjing Night Net

Weekly MyTrain tickets, as well as cheaper adult off-peak return tickets, are two of the 14 ticket types that will no longer be sold from Monday, as the government attempts to encourage travellers into using the electronic smart-card.

Ms Berejiklian said there had recently been a sharp increase in the number of people signing up for the Opal card –55,000 in one week recently taking the total sign-up to more than 580,000 –but commuters could still find themselves stuck in a line on Monday.

“The key thing for me is just to make sure that people are aware they could be facing long queues on 1 September if they don’t have the Opal card,” Ms Berejiklian said.

“There will be a lot of ticket sellers having to explain to people what their options are if they are caught out,” she said.

“If you are used to buying a weekly and you can’t buy one anymore, you will have to say to the person “what do I do now” and so it will take a bit longer to explain all your options.”

The government is already selling vastly fewer paper tickets than it did a few months ago. In 2013, commuters bought about 100,000 weekly MyTrain tickets in a regular week. Last month that number had halved, and in the week ending August 17, 38,000 weekly train tickets were sold.

Some commuters have been concerned they are, or would be, paying more when using the Opal card.

Ferry or bus users comparing fares to individual trips on TravelTen tickets may pay more –particularly if they do not travel more than eight times a week –as well as people who had purchased quarterly or yearly tickets.

But Ms Berejiklian has said the government risked collecting less fare revenue overall under the Opal card, and said that most people who had started to use the card were pleased with what it cost them.

“The concern is among those who have not switched over yet and have made assumptions about what it will cost them,” she said. “So I say to people, give it a go.

“Even if you think you might be paying more you will be pleasantly surprised.”

Commuters may be confused if they have acquired an Opal card but not used it for 60 days. In this case, the money they would have loaded into their card would have been refunded, meaning they would need to load money onto their card again.

Pensioners will continue to be able to buy Pensioner Excursion tickets, while bus tickets such as TravelTens are still likely to be sold for at least another year.

Anyone buying a yearly or quarterly train or MyMulti ticket in the next week will continue to be able to use it until it expires.

My Train:

Adult Off-Peak Return Adult Weekly (7 day) Adult Fortnightly (14 day) Adult Monthly (28 day) Adult Quarterly (90 day) Adult Yearly (365 day) Concessions Monthly (28 day) Concessions Quarterly (90 day) Concessions Yearly (365 day)

My Multi:

Adult Monthly (28 day) Adult Quarterly (90 day) Adult Yearly (365 day)

My Ferry:

Adult TravelTen

Light rail:

Adult Yearly (365 day)

This story Administrator ready to work first appeared on Nanjing Night Net.

‘What’s the world coming to?’: Mother’s ashes stolen

09/07/2018 // by admin

Janneyl Foxe is heartbroken after the theft of her mother’s ashes. Photo: LOUISE DONGESDUBBO residents Janneyl Foxe and her father Harold were struck by a “disgraceful crime.”
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A $1,000 reward is on offer for the safe return of the ashes of Ms Foxe’s mother who died four years ago.

Thieves broke into 83-year-old Mr Foxe’s Central Dubbo home on Thursday after he had left for dialysis and stole a wooden box which contained the ashes.

The memorial is a red mahogany varnished box with a silver plaque, an angel, photo of the late Mrs Foxe with her grandchild and butterfly and heart stickers.

The box was filled with a black and white photo of Mrs Foxe’s mother, father and sister and a double thick calico bag containing the ashes.

Ms Foxe wrote a goodbye letter to her mother on the bag in gold writing.

The incident hospitalised Ms Foxe with heart problems due to all of the stress and has heartbroken Mr Foxe.

“They’ve nearly caused me to die and they’ve just about killed my Dad,” she said.

“(My Dad) is beside himself, sitting at home crying all the time.”

Ms Foxe said she cannot understand why someone would break into her father’s housing trust home and steal something so invaluable to anyone but the Foxe family.

“What mongrel steals from the poor,” she asked.

“They stole a dead person, own up and bring it back.

“If they’re not human enough to own up they can leave it somewhere for someone to find… I just want it back.”

The $1,000 reward will be given to anyone that finds the information or provides information on the ashes’ whereabouts.

Ms FoxeThis story Administrator ready to work first appeared on Nanjing Night Net.

Wangaratta Rovers have ‘nothing to fear’, says Maher

09/07/2018 // by admin

Paul MaherWANGARATTA Rovers coach Paul Maher says the Hawks are confident of making an impact in September, despite limping into the finals.
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The Hawks fell into fifth spot with a heartstopping three-point win over wooden-spooner Wodonga at John Flower Oval on Saturday.

Wangaratta copped a 188-point pumping from Albury at Norm Minns Oval to allow the Hawks back into the five.

They will take on Corowa-Rutherglen in Sunday’s elimination final at Myrtleford, and Maher said he was still confident of doing damage.

“They’ve beaten us twice, and relatively easy both times, so we would have to be going in as underdogs, but as I’ve said to the boys every week, going into every game, I still feel confident,” he said.

“Even if it’s Albury, or Yarra, or Lavi — because potentially we can play really good footy when we play our best.

“That might put a little fear into opposition sides when they meet us.

“We need to have that faith and belief that we can beat them.”

Maher was rapt with the Hawks’ performance and said it was the ideal preparation for Sunday’s do-or-die clash with the Roos.

“Our handball count was right up,” he said.

“When we run and carry and use the handball, I reckon we look really good, even against those top sides in the competition.

“When we’re stagnant and standing still and go back and bomb it long I think everyone else can beat us.

“The key for us this week is that we back ourselves and take the game on.”

The Roos warmed up for Sunday’s showdown with a 28-point loss to Lavington in a lacklustre affair at John Foord Oval.

The Panthers take on Yarrawonga in Saturday’s qualifying final at W.J. Findlay Oval.

The Pigeons enter that clash in white hot form, with star forward Brendan Fev-ola booting a club record 16 goals in Yarrawonga’s 163-point demolition of Wodonga Raiders.

This story Administrator ready to work first appeared on Nanjing Night Net.

Commuters to face lengthy queues at ticket windows if they don’t have Opal card

01/07/2018 // by admin

Transport Minister Gladys Berejiklian is warning train travellers they could face lengthy queues at ticket windows next Monday if they do not have an Opal card.
Nanjing Night Net

Weekly MyTrain tickets, as well as cheaper adult off-peak return tickets, are two of the 14 ticket types that will no longer be sold from Monday, as the government attempts to encourage travellers into using the electronic smart-card.

Ms Berejiklian said there had recently been a sharp increase in the number of people signing up for the Opal card –55,000 in one week recently taking the total sign-up to more than 580,000 –but commuters could still find themselves stuck in a line on Monday.

“The key thing for me is just to make sure that people are aware they could be facing long queues on 1 September if they don’t have the Opal card,” Ms Berejiklian said.

“There will be a lot of ticket sellers having to explain to people what their options are if they are caught out,” she said.

“If you are used to buying a weekly and you can’t buy one anymore, you will have to say to the person “what do I do now” and so it will take a bit longer to explain all your options.”

The government is already selling vastly fewer paper tickets than it did a few months ago. In 2013, commuters bought about 100,000 weekly MyTrain tickets in a regular week. Last month that number had halved, and in the week ending August 17, 38,000 weekly train tickets were sold.

Some commuters have been concerned they are, or would be, paying more when using the Opal card.

Ferry or bus users comparing fares to individual trips on TravelTen tickets may pay more –particularly if they do not travel more than eight times a week –as well as people who had purchased quarterly or yearly tickets.

But Ms Berejiklian has said the government risked collecting less fare revenue overall under the Opal card, and said that most people who had started to use the card were pleased with what it cost them.

“The concern is among those who have not switched over yet and have made assumptions about what it will cost them,” she said. “So I say to people, give it a go.

“Even if you think you might be paying more you will be pleasantly surprised.”

Commuters may be confused if they have acquired an Opal card but not used it for 60 days. In this case, the money they would have loaded into their card would have been refunded, meaning they would need to load money onto their card again.

Pensioners will continue to be able to buy Pensioner Excursion tickets, while bus tickets such as TravelTens are still likely to be sold for at least another year.

Anyone buying a yearly or quarterly train or MyMulti ticket in the next week will continue to be able to use it until it expires.

Tickets not sold after this week:

My Train:

Adult Off-Peak Return

Adult Weekly (7 day)

Adult Fortnightly (14 day)

Adult Monthly (28 day)

Adult Quarterly (90 day)

Adult Yearly (365 day)

Concessions Monthly (28 day)

Concessions Quarterly (90 day)

Concessions Yearly (365 day)

My Multi:

Adult Monthly (28 day)

Adult Quarterly (90 day)

Adult Yearly (365 day)

My Ferry:

Adult TravelTen

Light rail:

Adult Yearly (365 day)

Akermanis: Umpires are ‘out to get me’

01/07/2018 // by admin

Jason AkermanisNORTH Albury coach Jason Akermanis says he has done nothing wrong and that local football officials are “out to get him” after news he was under investigation for alleged cyber bullying was made public at the weekend.
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The Ovens and Murray Football-Netball League is expected to announce an investigation into Akermanis this week after it was alleged the former Brisbane Lions star had repeatedly abused AFL North East Border umpire development manager Mark Bywater by email and by text message about umpiring issues this season.

AFL North East Border regional manager John O’Donohue told The Border Mail Akermanis and the Hoppers had been warned about the alleged behaviour, but the Brownlow medallist hit back at those claims yesterday.

“He (Bywater) never once told us to stop,” Akermanis said.

“We were just trying to help.

“We just sent videos to themexplaining what was going on.

“That’s all we did.

“Nobody says anything and then all of a sudden it’s a huge problem.

“The intent of bullying is to try and harm someone, I mean, are you serious?

“I don’t know what it is, but I just get the feeling like they’re trying to get me.”

Akermanis said he had been made aware of the investigation last week but was shocked to find it on the front page of The Border Mail on Saturday.

“We were clearly told it was supposed to be confidential, which is fine, but next thing it’s on the front page of the paper,” Akermanis said.

“I don’t mind.

“I’m looking forward to speaking to the investigation officer. I have nothing to hide.”

AFL North East Border doesn’t have the power to launch investigations and referred the matter to the O and M.

If charges are laid they would be heard by the O and M independent tribunal.

It caps a big couple of weeks for the Hoppers off the field, with the embattled North Albury Sports Club going into voluntary administration earlier this month.

Members will learn more about the fate of the club at a meeting from 5.30pm tonight.

This story Administrator ready to work first appeared on Nanjing Night Net.