Stay Informed With Advivo
As we enter the start of the second quarter for 2021, I’d like to draw your attention to the latest JobKeeper and JobMaker government incentives and have provided you with a comprehensive update on this. The JobKeeper Payment Scheme ended on 28 March 2021, which means that JobKeeper payments and any JobKeeper enabling directions issued to employees, stopped being applied on 29 March 2021.
The JobMaker Hiring Credit was designed to encourage businesses to employ additional job seekers aged 16 to 35 years and is available for eligible employers who create new positions for eligible young people between 7 October 2020 and 6 October 2021. Please refer to the ATO website for up-to-date information.
Whilst the end of JobKeeper was expected, the impact of the JobMaker scheme needs to be monitored closely by the government, and they should be prepared to modify JobMaker’s eligibility criteria to create a more even playing field if need be. The next few months will be crucial for some businesses as they readjust to life without substantial government support.
You may have noticed something new in the newsletter this month? We have refreshed our Advivo logo! While our foundation is accounting and compliance, we want to also emphasise our business advisory offering. As Advivo continues to grow and evolve, it is important our brand reflects the current marketplace and aligns with what we do, which is far more than taxation and compliance. Our clients want and expect so much more from us, and our advisory services help take their businesses to the next level.
Also this month, we discuss planning your staffing in 2021 and ensuring you have everything set up in the right way from the beginning. This ensures your employees are always paid the right amount at the right time, which increases their feeling of job security, the impression of the value they receive and ultimately increases the respect within your business. We also provide insight on payroll innovation and the benefits of automation and the ways in which you can record and manage the people in your business.
Have you registered for our upcoming event next Thursday? Graham Ballard, an insurance expert from Risk Advisory Partners, will address the topic of ‘What’s the risk?’. He will outline how to protect your business with the 3 P’s – plan, prepare and protect, and mitigate risks from such impacts to cash flow so your business has time to flourish. He will also discuss the difference between protecting things versus protecting against events. There are some major legal issues before the courts and parliament at present that are affecting businesses and these will be discussed at our event, as well as exploring the ever-changing and confusing plethora of insurances needed for your business. We will discuss how they work and what you need to take into account when buying them, in order to adequately protect your business and its directors. I look forward to seeing you there.
What’s the Risk?
When: 12th May 2021, 5.45pm (for a 6.00pm start)- 8.00pm
Where: The Ovolo Inchcolm, 73 Wickham Tce,
Understanding the different types of insurance and having the right type of insurance set up, can help to protect your business, your customers and your income. There are currently major legal issues before the courts and parliament, in relation to insurance that is affecting businesses.
Industry specialist Graham Ballard from Risk Advisory Partners, will address this, as well as exploring the ever-changing and confusing plethora of business insurances required for your business. He will share insights into how they work and what you need to take into account when buying insurances in order to adequately protect your business and its directors.
Want Your Pay Runs to Be Easy?
Advivo Accountants and Advisors explain the benefits of adopting an automated payroll process.
Click here to find out more.
Getting Your Staffing and Payroll Right!
Advivo Business Advisors and Accountants explain how small businesses can keep their payroll on track.
Read the full blog here.
Changes to Single Touch Payroll (STP) Reporting
All you need to know about STP for your business is explained by Advivo Business Advisors and Accountants here.
Are You Across Your Employees’ Financial Wellness?
Advivo Business Advisors and Accountants explain the importance of supporting the financial wellness of your employees.
Find out more here.
Advivo’s Charity of the Month!
Advivo’s commitment to the community includes our monthly charitable donation! Last month we donated to The Pyjama Foundation who work in providing children in foster care the opportunity to change the direction of their lives with learning, life skills and confidence. See how they are helping children learn to read, play educational games and help with their homework. Read more here.
Have your say – HERE, to help us choose a local charity to support and we will announce the winner in next month’s newsletter
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
Key Events / Dates:
- Lodge and pay quarter 3, 2020–21 PAYG instalment activity statement for head companies of consolidated groups.
- Lodge and pay March 2021 monthly business activity statement.
- Lodge and pay quarter 3, 2020–21 activity statement if electing to receive and lodge by paper and not an active STP reporter.
- Pay quarter 3, 2020–21 instalment notice (form R, S or T). Lodge the notice only if you are varying the instalment amount.
- Make super guarantee contributions for quarter 3, 2020–21 to the funds by this date.Employers who do not pay minimum super contributions for quarter 3 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement – quarterly (NAT 9599) by 28 May 2021.Note: The super guarantee charge is not tax deductible.
- Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 3, 2020–21.
- Lodge lost members report for the period 1 July 2020 to 31 December 2020.