Happy new (financial) year and welcome to the 2019 Financial year!
I don’t know about you, but I always find myself at the start of any new year looking back on last year and asking a few questions; How did I (we) go? What went well and what not so well? What could I have done better? and What do I need to change in the coming year to ensure I do better or different?
I urge you to spend a bit of time reflecting on the year that was. Give due consideration strategically to what you could do better and how you would implement those changes to ensure 2019, is a better year for you. Take the time and have a read of Chris Morris’s article below, naturally, you need to capture all of this in your 2019 financial year budget.
I know as I get older I find myself thinking more and more “I need to do more for the community in which we live”, we can’t just leave it up to everyone else. Come along to our event on 22 August and see how not only can you and your business do something for the community. But, we will also be showcasing some innovative charities and how your business can benefit at the same time by supporting these charities. We love a WIN WIN! More information about this exciting event below.
Upcoming Events – Business Driving a Difference
With the event fast approaching, we would like to introduce you to one of our four featured charities, Aspirations 4 Kids.
Aspirations 4 Kids (A4K) are committed to helping children facing unique challenges aged 10-19 from schools around the state, who want to participate in representative school sports programs but are restricted from doing so due to circumstances of hardship. They also offer a Scholarship to worthy recipients who qualify under their criteria.
Spots are filling fast, so register for this event today!
Blogs & Articles
Business Forecasts and Budgets – Why do I need them
Written by Chris Morris
Here at Advivo, we’re always preaching about the importance of having a functional business forecast or budget. “Why do I need a business forecast” I hear you ask? The short answer is “because you can’t afford not to”.
Click Here to find out more reasons why you should start forecasting and some steps you can take to get started today!
Post 30 June Checklist
Now that 30 June has passed it is time to finalise your accounts from the previous year and get ready for the new one. See our post 30 June Checklist to make sure that you and your business are ready.
CGT – Time the Sale of your Investment
At a time of the year when we are all focusing on getting our affairs in order and ready for tax time, for those of us who are that organised, we don’t always consider the timing of a capital gains tax (CGT) event.
Continue reading to find out which assets of yours are CGT applicable and which are exempt. As well as things to keep in mind when deciding to sell or buy.
Areas of Concern for SMSF Trustees
Are you the trustee of one of the approximately 577,000 SMSFs in Australia at the moment? As the SMSF sector continues to grow and the number of funds continues to increase, the workload of the ATO as the regulator increases. Instead of the rigid enforcement of the rules, the ATO has taken an educational and early engagement approach with the SMSF sector.
Read more about the common areas of concern that the ATO has released in a bid to make trustees more aware.
ATO Tax Time Focus Areas
It’s tax time again, as you gather your receipts and other assorted tax documents, you should also turn your mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim “other” work-related expense deductions on their tax returns. Click Here to find out more.
Advivo in the Community – Monthly Charity Contribution
The votes are in for June’s Charity of the Month!
Winner: Act for Kids
Act for Kids is an Australian charity providing free therapy and support services to children and families who have experienced or are at risk of child abuse and neglect.
Don’t worry, those who didn’t receive the winning votes will have their votes carried over next time their name is drawn.
Please vote on this month’s recipient of our contribution.
Monthly team member profile
Trevor Holmes (Managing Director, Advivo ICP)
Trevor, as Managing Director of Advivo Innovation Commercialisation Partners (Advivo ICP), is responsible for providing a unique service within our Advivo group of companies. From general management consulting to experience in private equity, Trevor has been honing and developing his skills in disruption theory and the processes that lead to more successful projects of commercialising products, technologies and unique business service models. This has resulted in building access to data scientists who are able to provide statistical insights to the probability of success and “whitespace” market opportunities as the forefront of project managing the commercialisation process under a minimum viable product and lean startup methodology. What does all this mean? With over 90% of all mid-tier attempts to commercialise innovations failing, it means that Advivo ICP has created a “system” to ensure your commercialisation projects are continually validated or invalidated quickly resulting in rapid deployment, reduction of investment risk and utilising our global network of partners to increase the probability of commercial success.
If you are a mid-tier business looking to be a disruptor or believe your business needs to transform itself through innovation, please contact Trevor to discuss this unique end-to-end process that saves money, mitigates risk and increases success.
Key Events / Dates:
- 21 July 2018 – Lodge and pay June 2018 monthly business activity statement.
- 21 July 2018 – Lodge and pay quarter 4, 2017–18 PAYG instalment activity statement for head companies of consolidated groups.
- 28 July 2018 – Lodge and pay quarter 4, 2017–18 activity statement if lodging by paper.
- 28 July 2018 – Pay quarter 4, 2017–18 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount.
- 28 July 2018 – Make super guarantee contributions for quarter 4, 2017–18 to funds by this date.