Master Your Business Structure
And just like that, we’re already over a month into the new financial year. I hope everyone is taking the necessary steps to ensure a prosperous 2023/24 financial year.This month we want to put an emphasis on the importance of effective business structuring. Having an effective business structure is essential for providing clarity for your business and allowing your business the ability to grow. Thus, it is a topic we are passionate about relaying to our clients – we want to see you succeed!This month, we have four fantastic blogs to provide guidance on this topic. I have penned an overview of whether your business could benefit from aboard. We also discuss the different types of capital structuring available and provide some tips for successfully planning your business transition. Advivo partner, Chris Morris, also wrote a blog that provides examples of how structuring correctly can secure your business.I also want to remind you to sign up for our next Business Booster event, ‘Forecasting & Ensuring the Success of Your Business‘ if you haven’t already. This event is dedicated to providing everything you need to know about reviewing your business’s financial position and providing the tools needed to forecast your future – useful and important information for any business. This session will be held online, on Thursday, 24 August at 1:00 pm – I hope to see many of you there. Click below to register for this insightful event.As always, the Advivo team is always here to support you and your business as you go through structural changes – so please don’t hesitate to reach out if you have any questions related to this topic.
Kind Regards, Leon StephanManaging Partner
Upcoming Events
Forecasting & Ensuring the Success of Your Business
Date: Thursday, 24th August
Time: 1-2 pm
Location: Online via Zoom
One lucky attendee will win a FREE business planning workshop with one of Advivo’s expert business advisors.This session, valued at $2750, will include a one-on-one workshop with one of Advivo’s expert business advisors to discuss your unique business situation and identify strategies to set you on the right track to achieve your goals.
Advivo's Charity of the Month
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 2023 monthly business activity statement.
25 August
- Lodge and pay quarter 4, 2022–23 activity statement if you lodge electronically.
28 August
- Lodge and pay quarter 4, 2022–23 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.
Employers who lodge a Superannuation guarantee charge statement can choose to offset contributions they paid late to a fund against their 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 our Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement.
- 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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