Welcome to the pre-Christmas crazy time!
As always, we endeavour to do all that we can for our clients while also preparing for the new year and of course, we will squeeze in our annual staff Christmas party, because it is the festive season after all.
This year we have focused on educating our clients and friends of Advivo by providing seminars on a variety of topics for business owners and operators. We have heard your feedback and want to support our clients with a “speed dating” night, where we will have experts from a wide variety of specialisations, including but not limited to setting up a business, getting the most out of your SMSF and Business Transition Planning for you to ask all the questions in an organised event with no obligations.
We are looking for more suggestions too, so if you find it hard to “switch off” from thinking about your business at night and there is a topic you would like to discuss, let us know and we will do our best to make sure we can help on the night.
We always encourage our clients to speak with us to ensure they have the right business structure for them, personally and their business. This is a hot topic at the moment and we have seen a rise in the new business start-ups and innovation space. Read our blog, Smart structuring & creating flexibility with Trusts, below for more information.
Upcoming Events & Seminar Updates
The Artificial and Business Intelligence
Maximising Your Business Efficiency! – In Review
This seminar was held at the end of October with a stellar attendance! This is further evidence that our clients, friends of Advivo and guests are eager to learn about ways they can stay innovative and keep up within a constantly evolving environment. The three guest speakers revealed the many ways technology and innovation can transform your business. Click here to find out more or contact us today!
Childcare Business Matters Workshops
Managing Partner, Leon Stephan, will be showcasing his expertise in the Childcare Sector at the Childcare Concepts Childcare Business Matters Workshops! Be sure to secure your place! Brisbane on 19th November or Sydney on 21st November.
Save The Date! Our Next Seminar on Thursday, 21st of February at 6 PM
Technical Tips & Tricks – Speed Dating with Advivo
An invitation will be coming your way very soon!
Blogs & Articles
“Why is it important to get your structure right?”
People often jump right into their grand business idea or purchasing a new business, without necessarily seeking advice about which type of structure is best suited for their specific circumstances. This can be a costly mistake, and by not getting your structure right, you’re potentially risking your entire business, as well as your family home! It could also mean you’re paying a far greater tax than you should be. Structuring for asset protection, structuring for IP, and structuring for tax minimisation are all crucial elements to consider when choosing the right structure.
‘Begin with the end in mind’ is one of Steven Covey’s 7 Habits and this is critical when choosing the right structure for your new venture.
We have seen too many scenarios of people operating in the wrong type of structure, and often the cost to fix it is prohibitive. To make things worse, that cost often increases over time so whilst it may get put on the back burner to ‘fix later’, there is really only one ‘good’ time to get your structure right, and that’s at the beginning!
Smart structuring & creating flexibility with Trusts discusses just a few examples of where trusts can be beneficial within a structure. Often the ‘right’ structure will be a combination of various entities, which when used together, provide the best possible outcome. Getting your structure right is crucial, and since there is no ‘one-size-fits-all’ it’s important to seek expert advice, simply because you cannot afford to get it wrong.
Should my innovation be perfect before I go to market?
But is this the wise way to go about it? When it comes to commercialising an innovative idea, as business owners we often feel driven to have everything absolutely perfect before we feel comfortable releasing that idea to the market.
Click here to find out more and understand the value of a ‘Minimum Viable Product’.
Speed Dating with Advivo!
We know businesses are confronted & challenged by an enormous range of issues and change. If it isn’t your area of expertise it can be impossible to keep up to date. We have decided to shake it up a bit and try a new interactive format for our February seminar.
We want to hear from you! Tell us what keeps you up at night and we will arrange to have an expert available!
Advivo In The Community – Monthly Charity Contribution
October’s Charity of the Month! – Mental Health Association
Advivo is proudly supporting the Mental Health Association through Harold Peacock’s Kosciuszko Hike for Health.
The Mental Health Association QLD envisages a community where optimal mental health and wellbeing is encouraged and supported, resulting in strengthened community resilience and enhanced holistic health of all Australians.
They aim to promote awareness and understanding of mental health in the community and to assist people to access relevant and timely information and appropriate services and support.
Don’t worry, those who didn’t receive the winning votes will have their votes carried over next time their name is drawn.
Monthly Team Member Profile
Daniel Tan (Senior Accountant)
Meet our new staff member, Daniel. He joined Advivo in August 2018 as a Senior Accountant. Daniel is a Chartered Accountant with extensive public practice accounting in the areas of business services and taxation. He is keen on delivering high-level services to clients to help them grow and take their businesses to the next level.
Daniel was born in Malaysia but has lived most of his life in Australia. Here are some quick facts about him:
- His favourite sport is soccer – he mainly follows and watches, but rarely plays.
- He does Saturday morning exercises with some church friends to try to keep fit and healthy (“I’m not sporty or athletic, though”).
- He likes reading crime fiction, mysteries and thrillers. He notes that these genres have one thing in common with accounting: problem-solving.
Key Events & Dates
- 21 November – Lodge and pay October 2018 monthly business activity statement.
- 25 November – Lodge and pay quarter 1, 2018–19 activity statement if you lodge electronically.
- 28 November – Lodge and pay quarter 1, 2018–19 Superannuation guarantee charge statement – quarterly if the employer did not pay enough contributions on time.
- Employers lodging a Superannuation guarantee charge statement – quarterly can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge. Note: The super guarantee charge is not tax deductible Use our Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement – quarterly.