The strength of your business begins at its structure!
Can you believe we are nearly in Spring and, as usual, times are changing? The economic environment continues to tighten with rising interest rates, continued long-term labour shortages compounded by ongoing short-term absences due to covid and other illnesses, rising costs and logistics mean we are in for a tough 6 months before we see some relief. We need to continue to be vigilant, look for innovative ways to differentiate ourselves be agile and seize opportunities for growth and efficiency whilst keeping abreast of the issues through continued education and forums and other mechanisms such as this newsletter. Does Your Business Need a Board?’. Our Business Booster events are proving to be very popular, as each session focuses on a different way to take your business to the next level. This next session will be held online, next Thursday 18 August at 12:30 pm and will cover the different types of boards, and how they can help accelerate the growth of your business whilst protecting it against challenging times. Our charity this month is Youngcare – a national not-for-profit, revolutionising the way young people with high care disabilities live – with freedom, dignity and choice. As your business advisors and accountants, we are here to work alongside you and provide everything you need to make the important decisions around your business. Please don’t hesitate to get in touch if you need any assistance. Sincerely, Leon Stephan Managing Partner
Importantly your business structure must be right for you to ensure a solid platform for riding through these tough times. Changes to legislation, future objectives, family situation and estate planning are all reasons why a review might be needed to correct it or re-align with your changed circumstances. But what do you do if you discover that your business structure is less than optimal? Read our article below to find out the best course of action and how we can help. Our other articles this month focus on the options for business structures and determining if a self-managed superfund is right for you. The final article discusses Boards and advisory options for your business and explores the different options available and ways to access the professional advice you need across multiple disciplines in an affordable way. Read our article on advisory boards and the options to consider. On that note, have you signed up for our next Business Booster event, ‘The Importance of Structuring Your Business Right
Advivo Partner, Chris shares some scenarios about the importance of structuring your business correctly to ensure tax minimisation and asset protection.
Read more here.
My Business Structure is Wrong - What Now?
Advivo Partner, Dale, explores what happens when a business structure is not doing the job, a few scenarios and why a more complex business structure can make a big difference.
Read more here.
What Does Your Ideal Advisory Panel Look Like?
Advivo’s Manager Partner, Leon shares the different types of boards and advisory panels that could make a difference to your business.
Find out here.
Is a Self-Managed Super Fund Right For You?
Advivo Accountants and Advisors proudly provide expert advice about the tax advantages of superannuation and will assist you every step of the way with your Self-Managed Super Fund, click here.
Does Your Business Need a Board? And other board-alternatives available for your business
Date: Next week! Thursday 18 August 2022
Time: 12:30-1:30pm
Location: Online via Zoom
If you own a small business, getting independent advice and support from a board or advisors could be the best thing for you. Through objectivity and a broader range of skills and perspectives, boards will support the growth and/or risk management of your business, so you can feel confident that it’s in the best position for success.join us next week for our next Business Booster Event with Leon Stephan and Chris Morris, where we will explore a range of board options and answer your questions on which type may be the most beneficial for your business at specific points in time.
But boards can take on many forms, supporting all kinds of businesses in different ways and at different times of maturity and development – so how can you know which one is right for you? PleaseThis interactive Zoom event is a great chance to get all your questions answered! Submit a stimulating and thought-provoking question, and you’ll go in the draw to win a $100 Visa digital gift card!
This is a free event but spaces are limited. For more information and to secure your place:Advivo's Charity of the Month!
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
Key Dates:
- Lodge PAYG withholding payment summary annual report for:
- large withholders whose annual withholding is greater than $1 million
- payers who have no tax agent or BAS agent involved in preparing the report.
21 August
- Lodge and pay July 2022 monthly business activity statement.
25 August
- Lodge and pay quarter 4, 2021–22 activity statement if you lodge electronically.
28 August
- Lodge and pay quarter 4, 2021–22 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.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 the Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement. Employers who lodge a Superannuation guarantee charge statement can choose to offset contributions they paid late to a fund against their
- Lodge Taxable payments annual report (TPAR).
The TPAR tells us about payments that are made to contractors for providing services. Some government entities also need to report the grants they have paid in a TPAR.
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