Happy New ( financial ) Year!!!!!
You have heard me say it a thousand times, I know I have a man crush on Steven Covey, but it’s time to revisit that plan again. It’s the start of a new financial year, so ask yourself “What do we want to achieve this year?” Remember the rule “Begin with the end in Mind” – set your goals, agree your strategy and decide who is going to implement your action plans, by when and at what cost? Unless you put a plan in-place to implement your strategies, the chance of success is very low. Here is our One Page Strategic Plan template. Use it, we do and so do a lot of our clients with great success.
Speaking of planning have you done your budget for 2019 / 20 yet? Let us know if you need help with this? Without a budget you are flying blind and don’t know where you will end up or how you are going along the way! Also, don’t forget to use our post 30 June check list when considering your planning, if you missed it, here is the link. Make sure you have done everything you need to.
What do we think the new year has in store for us? All we know is there will be more change, that is for sure. The Reserve Bank thinks the economy might not be doing so good, so they have lowered the interest rates again, we now have the lowest interest rates in recent history. Make the most of this opportunity, if you can afford it, borrow for those things that will improve your business performance and efficiency and make a concerted effort to clear your non – deductible loans such as home loans, whilst interest rates assist you the most.
This month the partners will be talking all things Family Business and that means we are talking to most of our clients and associates. We are passionate about helping businesses grow and family business is our sweet spot, so come along to our free event in August. You’ll gather some quality intel and network with likeminded family businesses who share the same joys and hurdles as you and are also committed to growing their business. Register here today!
Unlocking Your Family Business Potential
Family businesses come in all different shapes and sizes and account for 70% of all businesses in Australia.
Our team have genuine experience working with family businesses, particularly when it comes to growth, Business Improvement, Business Restructuring, Succession and Estate Planning.
We can help you ensure your family business is running successfully and help preserve its financial future for generations to come. Join us on Thursday 22nd August, 5:30pm at the Ovolo Incholm, Spring Hill QLD and register here!
Future Proofing Your Business: A Road Map for Digital Transformation
Are you considering moving your accounting systems to the Cloud? At Advivo we understand the bigger picture and will work with you to make the transition, then integrate with all your current systems and platforms. During this process we work with you to increase the efficiency of your business and provide more thorough financial and management reporting.
Click here to find out how we can help take your business to the next level through software integrations.
Why it is important to have a shareholder agreement – especially in a Family Business
It can be very chaotic when starting a new business, there can be many ideas and opinions that are being shared in a short period of time. However, a shareholder’s agreement should be something that takes priority. While it is not a legal requirement to have one, a shareholder’s agreement will allow the different parties involved to set very clear guidelines on what is expected.
Before getting this process started, read more here about the commonly asked questions or contact our office today!
Creating a good working relationship with your accountant
An accountant plays a crucial role in the success of your business, so creating a strong working relationship with them and ensuring they are completing all their responsibilities is imperative. You need to be comfortable working with them and approaching them about any comments or concerns, and have the trust that they are handling everything as it should be.
Click here to find out what we believe are essential items your accountant should be delivering for you. If you are not getting these things, call us today!
How well do you know your customer?
One of the most important aspects of taking on a new customer is due diligence, but often, time constraints and lack of resources can mean that this can get pushed aside. However, due diligence can make the difference of remaining cash flow positive and we all know that cash is king. Knowing your customer is vital and today’s digital era makes this more accessible than ever.
Would it be a game changer if you knew that there was a way that you could improve your credit onboarding process, ongoing due diligence and debt collection? Read more
Support A Charity with your “Gift of Giving”
Advivo’s commitment to the community includes our monthly charitable donation and we want you to help!
Last month we contributed to AusRelief thanks to your input.
AusRelief emphasise the importance of education, infrastructure and self-sustainability as critical to the development of productive and educated communities. Our aim is to assist the needy and less fortunate by helping people build educated, productive, secure, just and self sustainable communities.
Have your say and help us decide here and we will announce the winner in next month’s newsletter! Click here to vote!
Don’t forget if you would like us to include a charity of your choice, just drop us a line at firstname.lastname@example.org
Staff Spotlight! – Who is Elkie Gibson?
Introducing Elkie Gibson! You may have spoken to her already, and if you haven’t, you probably will very soon!
As this is a new financial year and we already have work in from some clients, this is the perfect opportunity to mention that we have a dedicated human receiving, processing and checking your very important financial documents.
We wanted to share a little about Elkie so you know the person behind those emails and phone calls. Read on to find out more.
Key Events / Dates:
- 21 July – Lodge and pay June 2019 monthly business activity statement.
- 21 July – Lodge and pay quarter 4, 2018–19 PAYG instalment activity statement for head companies of consolidated groups.
- 22 July – Lodge of 2018-19 payroll tax annual return to Qld Office of State Revenue
- 28 July – Lodge and pay quarter 4, 2018–19 activity statement if lodging by paper.
- 28 July – Pay quarter 4, 2018–19 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount.
- 28 July – Make super guarantee contributions for quarter 4, 2018–19 to funds by this date.Employers who do not pay minimum super contributions for quarter 4 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement – quarterly (NAT 9599) by 28 August 2019. Note: The super guarantee charge is not tax deductible.
- 31 July – Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 4, 2018–19.
- 31 July – Lodge Venture capital deficit tax return for June balancers.
- 31 July – Lodge Franking account return for 30 June balancers if there is an amount payable.
- 31 July – Lodge Early stage innovation company report.