Passion For Family Businesses
At Advivo, we are passionate about family businesses. Our background is working in family businesses as are most of our clients, which is why it is one of our specialties.
Our August event is almost here (22nd August) and the subject is “Unlocking Your Family Business Potential”. This subject should be of great interest to the majority of our clients and associates, so I urge you to come along and hear from us and two other quality presenters sharing their expertise on this subject. Register here today!
The enormity of the words “Family Business” struck me recently when I was reading an article on one of Australia’s first families of Wine – Brown Brothers. Katherine Brown, fourth generation said, “We really understand we’re not here for a short time. When you’re working in a family business you’re not serving your own career. You’re striving for the entire business, for a brand, a brand that usually carries your name on it.”
I know not all family businesses carry the family name in the brand, but the message remains the same as clients associate the brand with the family. She went on to say the responsibility of a family business is far greater than a non-family business as often you carry the legacy and responsibility on your shoulders of what your predecessors have built and passed on to you. So come along and learn from our experts, see you on the 22nd August.
There are some great articles included this month, especially if you have a Self-Managed Super Fund (SMSF), you need to read this article. If you are already a client of ours, you have already made the right choice on who your accountant is, but there are some great tips on how you can get more value from us or you might have some colleagues you can forward this on to?
Sincerely,
Leon Stephan
Managing Partner
Unlocking Your Family Business Potential
Family businesses come in all different shapes and sizes and account for 70% of all businesses in Australia.
Research shows that 57% of people surveyed in Australia prefer to buy from a family run business and like any business, a family business can have advantages, such as flexibility, and disadvantages, such as family conflicts.
Our team have genuine experience working with family businesses, particularly when it comes to growth, Business Improvement, Business Restructuring, Succession and Estate Planning. Advivo will work with you to manage the unique challenges that come with running a family business, starting with a strategic plan ensuring your goals, growth and success build a business culture that works.
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!
Is a Self Managed Super Fund Right For You?
Advivo Accountants proudly provide expert advice about the tax advantages of superannuation and will guide you every step of the way with your Self-Managed superannuation fund (SMSF).
We strongly recommend talking to an expert when it comes to your personal retirement goals and any information in this article is general in nature and does NOT take into consideration your personal circumstance! Read more.
How to Choose a New Accountant
Looking for a new accountant is never an easy decision, especially if you have been with your current accountant for a long time. Making the switch can have an impact on the long-term success of your business and is not a decision to be made lightly.
We have put together a list of important factors you should consider when looking for a new accountant, click here.
The Key to a Successful Family Business
Anyone operating a family business will understand it can be very different from other types of businesses. Families typically have hierarchies, often formed from cultural norms and history. This is not unlike hierarchies in businesses, although the business hierarchy should be based on achieving role clarity and provide a platform for good management.
Click here to read more about the challenges that can be faced when operating a family business and our key tips on how to manage them.
Changes to Queensland Land Tax
In the 2019-20 Queensland Budget it was announced that a new land tax surcharge for foreign companies or trustees of foreign trusts will be introduced to the Land Tax Act 2010.
What this means for you is that if you were a foreign company or trustee of a foreign trust for land tax purposes at 30 June 2019, you will be subject to an additional 2% land tax surcharge. Please click here for more information.
Advivo Tip of The Month
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 Northey Street City Farm, thanks to your input.
Northey Street City Farm is an inspirational working model of a community-based permaculture farm which promotes and educates for sustainability.
Have your say and help us decide here 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 info@advivo.com.au
Advivo EOFY Staff Party
The Advivo team recently celebrated the end of the 2019 financial year with a friendly pool tournament and dinner.
We are all looking forward to a great 2020!
GABA – German Australian Business Association
Last month Advivo co-hosted the German Australian Business Assocation’s winter social event. Thank you to those who attended, it was a great night hearing about the joys and challenges of supplying and importing German food and beverages in Australia!
Key Events / Dates:
- 14 August – Lodge PAYG withholding payment summary annual report for:
- 21 August – Lodge and pay July 2019 monthly business activity statement.
- 22 August – Advivo “Unlocking Your Family Business Potential” event, click here to register
- 25 August – Lodge and pay quarter 4, 2018–19 activity statement if you lodge electronically.
- 28 August – Lodge and pay quarter 4, 2018–19 Superannuation guarantee charge statement – quarterly if the employer did not pay enough contributions on time.
- 28 August – Lodge Taxable payments annual report.
