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The emergence of digital and Internet technologies in recent years have brought about new printing trends that will forever change the printing industry. These printing industry trends have changed the way companies do business from the design to the printing phase of operations.
In Australia, the printing industry has met these new printing trends with open arms as many have updated their workflow and production strategies to meet the changing demands. On the other hand, many of those who never made these important changes have struggled because of the growing competition by non-print and online media.
According to the Rochester Institute of Technology School of Print Media, there has been a growing media competition considering the fact that print advertising is driven by newspaper, magazine and periodical revenues while “the Internet is chipping away at traditional media usage and communication.”
The recent developments in the printing industry can be attributed to several printing trends:
Workflow DigitisationOne of the most important printing industry trends has been the electronic delivery of files as desktop publishing takes full control of the printing process. There is an emerging need for the electronic delivery of graphics and images, which has made film media process obsolete. The industry has adopted automated workflow processes that would link customers, printing systems and services like never before.
Technology IntegrationPrinting trends are gearing towards full workflow automation with the development of computer-to-plate imaging technologies that allow desktop publishing applications to output directly to a printing plate. Many printing presses are integrating “hybrid” printing by combining different reproduction processes since many print jobs are complex with specialised coating or printing requirements. There is a growing trend in cross media conversion from one file to any information distribution and electronic publishing methods. The advancement of digital technologies such as Direct Imaging offset presses and Inkjet printers have made colour printing cost effective.
Changing DemandsPrinting trends have also pointed towards shorter production runs and schedules in an effort to compete with digital printing. Printing production now shifts closer to the point of distribution as printing trends move away from being press-centric to printer-centric. A greater volume of printing jobs has moved away from printing companies to those produced by desktop printing and offshore printing firms.
The implementation of new printing industry trends such as the workflow digitisation, technology integration and changing demands have transformed companies into more efficient and effective businesses. However, some niche pre-print operations are now rendered obsolete because desktop publishing has eliminated the need for pre-press and film-based processes. The implementation of a digitised workflow has further automated the printing process and at the same time freed the operation from labour-intensive tasks that may hamper production schedules. Despite the growing significance of online-based services, the printing industry remains strong and enduring as it adopts new strategies to achieve success in the future.
Western historical experience with taxation has been that a government’s increased financial dependency on tax revenues may generate governance benefits, because it encourages the accountability of the state to its citizens. Explicit or implicit agreement about who should pay tax, at what rates and for what purposes was reached through bargaining between the ruler and the potential taxpayers. In contemporary OECD countries issues of taxation remain central and important – especially around elections.
In contrast, taxation is not high on the domestic political agenda in Balkan countries. With the exception of Greece, the politics of taxation are, in general, limited to involve a few specialized interest groups, and tend to take place in non-public arenas. Small lobby groups pressure for exemptions, for rate reductions on imports, or bargain with officials or ministers about tax liabilities.
Local government taxation is, however, a major exception to this. Around election time, this form of taxation is often high on the political agenda of both national and local politicians.
But, this politicization of local government taxes does not increase tax compliance among citizens. To the contrary, it often undermines local government tax collection efforts. The main reason why issues of taxation has not entered the political agenda in those countries is that only a minority of citizens pay direct taxes to the state and the failure of revenue-raising seems most acute in countries that receive large amounts of aid. Partly as a result of this, donors are increasingly directly involved in recipient country tax policy making and administration. Typically, donors push for ambitious overall revenue targets. This may, in some contexts, have significant but unintended negative influences on (i) taxpayers’ rights through coercive tax enforcement, and (ii) accountability by empowering the bureaucracy at the expense of elected politicians.
As part of the research programme, I have analyzed the relationship between taxation and accountability in the context of tax reforms carried out in a number Balkan countries. I focused on three interrelated issues affecting the relationship between taxation and accountability:
i) The internal accountability of the tax system was assessed with reference to administrative reforms of the tax system;
ii) ii) the democratic accountability of the tax reforms was analyzed by assessing whether the tax reforms created closer links between governments and their citizens; and iii) we also studied to what extent external accountability relations between governments and international donors affected domestic accountability relations.
In this part of the research project I emphasized the ongoing tax reforms in Albania, Bulgaria, Bosnia, and Serbia where reforms were introduced as part of the economic restructuring agreements with the international donor community.
The research has found that generally, the tax reforms have only to a limited extent succeeded in widening the tax net. Only formal business corporations appear visibly affected by the central government tax reforms. However, our research suggests that a voice and an organized response to the new revenue policies are developing within the business communities in the specific countries. The fact that these issues are being treated through formal, public organizations, rather than through bribery and public deals may indicate the beginning of a link between economic elites and government in issues of revenue generation.
My research indicates that it is not easy to introduce democratic accountability through externally imposed tax reforms. The tax reforms carried out in were to a large extent formulated and imposed by the international donor community. To meet the targets set by the IMF and Ministry of Finance, the revenue authorities in have focused on increasing collection and compliance from existing taxpayers rather than attempting the more complicated task of widening the tax base. Attempts to meet externally set tax-to-GDP targets may undermine democratic accountability if legal processes and taxpayers’ rights are set aside in order to comply with external accountability demands. The semi-military operations to prevent smuggling and tax evasion in Uganda illustrate this concern. Our findings suggest that if coercion is accepted as an integral part of tax collection it is unlikely that state-society relations can become more accountable and democratic.
A case that was recently decided in the Federal Court highlights a problem in relation to the keeping of business records. During the 1988 income year, a unit trust engaged in the purchase of a significant investment. It was not a good investment. Not too long afterwards the investment was worthless and in May 1993 the investment was sold for $1. This resulted in the unit trust incurring a capital loss of nearly $2.5m.
All of the units in the trust were sold from the original owner to a new owner in two tranches. One was in June 1993 and the other was in June 1995.
Capital losses may only be deducted for tax purposes against capital gains. Put another way, capital losses may not be used as a deduction against normal income. Due to this, the capital losses were carried forward by the unit trust until a capital gain was made by the unit trust in 2001.
The Australia Taxation Office (“ATO”) raised amended assessments against the ultimate beneficiaries of the trust and would not allow the capital loss of $2.5m to be set off against the capital gain made in 2001. The beneficiaries objected to this and the matter found its way to the Federal Court.
The main argument of the ATO was that the trust had fundamentally changed through some things that happened in 1993. I won’t go into the details of that.
However, the ATO also argued that the taxpayers could not prove that the purchase of the investment occurred in 1988 because, among other things, the primary documents that evidence the transaction no longer existed. This was so even though the financial statements of the unit trust showed the acquisition and there was verbal evidence from the people who actually engaged in the transaction. I note that the financial statements were prepared by a reputable firm of Chartered Accountants.
In his testimony before the court, the original owner of the units said that he did not have any of the business records of any of his companies or entities from 21 years ago. I know of few people that would.
So here’s the point. Generally, businesses are required to keep their records for a five year period under the Australian taxation law. But when it comes to capital gains tax, you need to keep records of everything that may be relevant to working out whether you have made a capital gain or capital loss. And, according to the ATO publication “Record Keeping For Small Business”, “You must keep these records for five years after you sell or otherwise dispose of an asset…”. So, you may need to keep the records for a very long time.
You will note in the case I refer to above that the ATO required the taxpayer to produce business records of a transaction that was 21 years old. Further, the disposal of the investment occurred in 1993, so that was 16 years earlier (not five).
The moral of the story is this: if you think that a transaction may have long term significant tax implications, don’t (ever?) throw out the primary documents that relate to that transaction. Keeping an electronic (scanned) image is something that you should consider.
Wishing you easier business.
John M. Jeffreys
Vendor finance can be a viable way to transform your desire to own your own business from a dream into a reality. However, for too many people in this position it has turned out to be a nightmare they can’t escape from. Unfortunately there are some vendor finance scams out there that have placed a dark cloud over the concept as a whole. In order to make sure you get the right opportunities from vendor finance, you need to know what to look for with scams.
You may say that there is no way you would ever be taken advantage of like that. Yet you need to realize these scam artists are very good at what they do. They have carefully studied the methods of legitimate vendor finance programs. They likely have even been to many of those presentations. Every move the make is very calculated so you are drawn in. They want to make it as realistic for you as they can. Then when you make your down payment they will be able to run with it and leave you with nothing in return.
Another common scam is that they will include fees and clauses in the contract that will result in them getting a huge chunk of your profits. While you may not be agreeing to this upfront, if you sign the contract then you are bound by the terms of it. No court of law is going to accept the excuse that you didn’t read it all or that you didn’t understand it.
Before you work with any vendor finance company, you need to know all you can about them. How long have they been in business? What are their goals and their methods used for increasing their business? What is in it for them to help you with the funding you need for your own business? Take the time to read independent reviews online from other people that have worked with them. You also need to check with the Better Business Bureau to find out if any complaints have been logged.
If you can’t find any information on them at all you should be hesitant to work with them. It could mean they continue to start up under a new business name, scam people, and then change the name to stay ahead of the game. With a reputable vendor finance program you should be able to come across plenty of good information about it.
Take the time to read all of the information before you sign on the dotted line. The paperwork for vendor financing can be lengthy and it can also be boring. Yet you don’t want to commit yourself to anything without fully understanding what you will be required to do. Otherwise you set yourself up to be taken advantage of. Financially, it could destroy any chance you have of a successful business.
If you aren’t sure of what some of the terms and conditions mean, then ask for it to be explained to you. It may be a good idea to have an attorney look over the documents for you. This extra precaution on your behalf can prevent you from getting involved with the wrong vendor finance company. If you feel that the company is pressuring you to hurry up and sign it then take that as a red flag that it could be a scam.
One way that they do this to entice people to sign up is to offer a really good deal. However, it is only available for a limited period of time. For example they may offer a discounted price after a seminar to all that sign up for vendor financing. Saving hundreds or even thousands of dollars could be encouraging. They realize they will get a huge response from those that want to own their own business and to save money this way. Yet you need to take the time to really think about the decision so don’t fall for such tactics.
Anyone can be taken for a ride from a vendor finance scam so don’t let yourself become a victim. By knowing what to look for and common tactics they use you can be better guarded against it. Should you become the victim of such fraud make sure you report it to local law enforcement. Too many people are embarrassed to do so. Yet that only gives these con artists more power to continue doing it to other people.
Have you been looking at different auto insurance policies only to find you aren’t familiar with the vernacular? Are you interested in saving money on your auto insurance but aren’t sure what the different terms and services mean?
When you’re trying to locate the best auto insurance plan for you, it’s important that you understand the meanings of the different terms and services available to you. Since this can be tricky, we’ve put together an informative and educational guide to help you get the auto insurance plan you’ve been looking for in no time at all. Below are some of the most common and important terms you’ll need to know to get started.
Property Damage Liability (PD) – This coverage pays for damage done to cars and other property as a result of an accident you are legally liable for.
Bodily Injury Liability (BI) – This part of your coverage pays for injuries to parties other than yourself as a result of an accident you are legally liable for. In most states, this coverage pays for medical expenses, lost wages and pain and suffering up to your policy limits.
Collision – This covers damage caused to your vehicle as a result of an accident, regardless of who is at fault. If you’re leasing or financing your automobile, you’ll be required to carry collision coverage.
Comprehensive – This coverage is for damage to your automobile resulting from incidents other than a collision. Examples of these incidences are: flood, hail, fire, theft, vandalism, falling or flying objects, wind and collision with an animal.
Deductible – This is the amount of the damages you agree to pay when an accident of loss occurs. For instance, if you have a $500 deductible and $800 worth of damage, you’ll pay $500 and your insurance provider will pay $300.
Uninsured/ Underinsured Motorist Coverage (UM) – This part of your car insurance will help cover medical expenses and property damage when the driver at fault has no insurance or is underinsured. For instance, if another driver causes an accident with you and has no car insurance, this is the part of your insurance that will help pay for damages and medical attention.
Now that you understand the most important terms in locating the best car insurance, get started right now in locating the best car insurance plans for your needs.



