If your newsagency business is drought affected
This advice released by the ATO could be useful:
We understand drought can put extra pressure on people and businesses. That’s why we’re making tax easier while times are tough.
Help and support
We can help with:
- tailored payment plans with interest-free periods
- more time to pay your tax
- waiving penalties or interest you might incur during drought.
Call 1800 806 218 to discuss your situation and find out how we can help.
Receiving drought assistance payments
It is important to understand possible tax implications on payments you receive.
- Amounts for emergency relief, such as food and personal clothing, are not classed as income and will not be taxed. Deductions can’t be claimed for the costs of buying these items.
- Amounts to help your business are income and subject to tax. However there will usually be no tax to pay if you spend those amounts on expenses you have in relation to your business, such as purchasing feed for your livestock.
Making donations
If you plan to donate to drought relief, donations of $2.00 or more that are made through a registered charity, will be tax deductible.
Remember, registered tax and BAS agents can help you with your tax.
Find out about:
Magazine distributor Gordon and Gotch blocks small business newsagent return of AFL Team Coach product
This communication from Gotch to a newsagent yesterday demonstrates the lack of control newsagents have over magazine supply inn their businesses. This drives lack of reasonable control over labour cost, space cost, shrinkage cost and cashflow cost.
The newsagent, for reasonable commercial reasons, decided to return the title. Here is the Gotch response:
Subject: AFL Team Coach Product 7231831
We have received your request for a return on AFL Team Coach Product (either Cards or Albums or both). At this stage, your return has not been processed. As you are probably aware, Team Coach product is extremely sort after and you should be able to sell all stock received to date. On this basis we would like you to reconsider this request and hold on to the product. Also, you will not receive any further stock from us so you will only need to sell what you have received to date.
However if you still would like to return the product, please email our National Contact Centre with the following info at contactus@gordongotch.com.au. However please DO NOT send back any stock with your regular Gotch returns until we respond to your request.
1. Product type (Cards or Albums)
2. Account number
3. Qty being ReturnedRegards,
Gordon and Gotch
What a poor response and a waste of time for the newsagent on tiny margin product.
There should be no approval needed. This product is sale or return. The newsagent has no control over supply. Gotch needs to be responsible.
No wonder newsagents are reducing their space commitment to circulation product.
Until newsagents are treated with fairness and respect, like business partners, magazines will continue to fade in relevance. This can be reversed. It would take publishers pressuring Gotch to fix their systems, once and for all.