Financial support is available for your business
A message from our Managing Partner…
It’s hard to believe how quickly this year is already flying by! We are already halfway through February and even though this is the shortest month of the year, there’s a lot going on!Making Your Bank Work For You’, is just around the corner on the 2nd of March. We understand the financial impact that business owners have been burdened with over the last two years, many of whom aren’t aware of the financial support available from their banks to alleviate the pressure during these difficult times. Please join us as we discuss how business owners can leverage their relationship with their bankers to access commercial support and solutions for their business. A lot of valuable information will be covered in this event, so I strongly urge you to come along and make the most of it. February also marks the time for the dreaded Fringe Benefits Tax reporting. If you want to discover some strategies for reducing the amount of FBT you as the employer pay, then please ensure you read the first article in this newsletter. Remember to always consult a specialist accountant when considering options for reducing potential taxation liability in your business. As always, Advivo is here and happy to help with this. We hope this year has started well for you!
In case you missed it, this year Advivo will be hosting our Business Booster Events: a series of regular online events delving into a range of topics designed to take your business to the next level. Whether your aim is to get new business, move into new markets, or boost current profitability, our Business Booster Events have you covered! Our inaugural event, ‘Sincerely,
Leon Stephan Managing PartnerEvents
Making Your Bank Work For You
Date: 2nd March, 2022
Time:12:30-1:30pm
Location: OnlineLeon Stephan, and in partnership with Owen McGuigan from St.George Bank. This will be an interactive Zoom event where all your questions will be 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:
There’s no denying business owners have been hit hard over the last two years and are still living through the economic impact of the pandemic. The good news is that your bank can help your business with financial support to alleviate the pressure (and even help to fund growth!) during these difficult times. So, how can you make the most out of your relationship with your bank? This is what will be explored in the first in our series of Advivo’s Business Booster Events, hosted by Managing Partner,4 Ways to Save on Your Fringe Benefits Tax (FBT)
Find out here.
What Your Bank Will Ask When You Want to Borrow Money
Find out here.
Cloud Accounting – Speed Efficiency and Caution
Click here to read.
How to Get the Most Out of Your Banking Relationship
Read about it here.
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:
21 February
- Lodge and pay December 2021 monthly business activity statement for business clients with up to $10 million turnovers who report GST monthly and lodge electronically.
- Lodge and pay January 2022 monthly business activity statement.
28 February
- Lodge tax return for non-taxable large/medium entities as per the latest year lodged (except individuals).
Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment.
- Lodge tax returns for new registrant (taxable and non-taxable) large/medium entities (except individuals).
Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment.
- Lodge tax return for the non-taxable head company of a consolidated group, including a new registrant, that has a member who has been deemed a large/medium entity in the latest year lodged.
Lodge tax return for any member of a consolidated group who exits the consolidated group for any period during the year of income.
- Lodge tax return for large/medium new registrant (non-taxable) head company of a consolidated group.
- Lodge and pay Self-managed superannuation fund annual return (NAT 71226) for new registrant (taxable and non-taxable) SMSF, unless they have been advised of a 31 October 2021 due date at finalisation of a review of the SMSF at registration.
Note: There are special arrangements for newly registered SMSFs that do not have to lodge a return – see Super lodgment.
- Lodge and pay quarter 2, 2021–22 activity statement for all lodgment methods.
- Pay quarter 2, 2021–22 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount.
- Annual GST returns – lodge (and pay if applicable) if the taxpayer does not have a tax return lodgment obligation.
If the taxpayer does have a tax return obligation, this return must be lodged by the due date of the tax return.
- Lodge and pay quarter 2, 2021–22 Superannuation guarantee charge statement – quarterly if the employer did not pay enough contributions on time.
Employers lodging a Superannuation guarantee charge statement – quarterly 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.Super guarantee charge statement and calculator tool to work out the super guarantee charge and prepare the Superannuation guarantee charge statement – quarterly.
Note: The super guarantee charge is not tax-deductible. Use theWe would love to hear your feedback!
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