New Year, New Budget

Happy New Year!

The new year is a time for reflection and looking ahead and for business owners it’s also time to turn your attention to planning for 2021, which means budget time!

Planning for any new year can be a daunting task, as the future can hold uncertainty, which we have seen reign true for 2020.  Ensuring you have a budget with a cash flow and debtor management process in place, will give you confidence to proactively make choices about how your business will operate to ensure you achieve the growth you are looking for.

Whether your business is in good shape, you have plans for expansion or just hoping to hold steady, in this newsletter we share the top 10 tips for preparing your budget to help prevent cash flow shortages and take your business to the next level. We also look at business growth, with some more details on our 3-way forecasting business strategy and planning tools.

The new year is a great time to talk to your accountant and develop a plan for the year ahead. This can be one of the best investments you can make in your business and give you the roadmap to take your business to the next level.  Your business is unique and your planning will likely require insights that only a qualified accountant can provide. Take the time to work with them and brainstorm the best course of action to achieve your goals. Our experienced team at Advivo are always here to assist.

In February we are hosting a face to face panel event focusing on brand, intellectual property, trademarks and valuations. The panel will consist of industry experts who will provide examples and guidance on these topics and how to help your business stand out in the marketplace. Register here!

We look forward to working with you in 2021 and taking your business to the next level.

Sincerely

Leon Stephan
Managing Partner

 

Upcoming Events

Value of Intellectual Property - Brands, Patents & Trademarks - Advivo

Value of Intellectual Property – Brands, Patents and Trademarks. 

When: 24th February 2021, 5.45pm (for a 6.00pm start)- 8.00pm
Where: The Ovolo Inchcolm, 73 Wickham Tce,
Spring Hill
Cost: Free

What would it mean to your business if someone else registered their business using your name or one very similar to yours, even though you used the name first? It would be a costly exercise to contend with them and effectively, you risk losing ownership of your own name!

Join us for our first event of 2021 and our panel of experts as they share unique insights on how to position your product or service and protect your distinctiveness at the same time. They will also discuss the process in which to approach branding, intellectual property, trademarks and valuations for your business.

Register HERE today!

 

Effective Budgeting for the Year Ahead

Looking to make your budget a success for 2021? The team at Advivo Accountants and Advisors can help develop your financial plan for the year ahead.

Click here to find out more.

 

Growing Your Business Without Damaging Your Cash Flow

Advivo Accountants and Advisors share strategies to grow your business while creating more cash flow.

Read the full blog here.

 

What’s the Best Way to Fund Your Growth Strategy?

Advivo Accountants and Advisors look at what options to consider.

Read more here.

 

 

Keeping a Better Handle on Your Business Performance

Advivo Accountants and Advisors share insights into why 3-way forecasting is important for your business’s financial stability.

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 Fareshare. A great charity who rescue food that would otherwise go to waste and cook it into free nutritious meals for people in need.

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 info@advivo.com.au

Key Events / Dates:

15 January

  • Income Tax
    • Due date for lodgment of income tax returns for companies and trusts that were taxable medium to large taxpayers in the prior year and are not required to lodge earlier.
      • If you fail to lodge your current return on time your income tax return for the next financial year will be due by 31 October.

21 January

  • Activity Statements
    • December monthly activity statements – final date for lodgment and payment
    • Quarter 2 (October – December) PAYG instalment activity statement for head companies of consolidated groups – final date for lodgment and payment.

28 January

  • Superannuation
    • Due date for super guarantee contributions for quarter 2 (October – December) – contributions to be made to the fund by this date
      • If you do not pay minimum super contributions for quarter 2 by this date, you must pay the super guarantee charge and lodge a Superannuation Guarantee Charge Statement – quarterly with the ATO by 28 February. The super guarantee charge is not tax deductible.

31 January

  • TFN Report
    • Quarter 2 (October – December) TFN report for closely held trusts for TFNs quoted to a trustee by beneficiaries – final date for lodgment.