Advivo Newsletter June 2017

End of Financial Year is here!

As mentioned in previous correspondence, there are many important legislative changes happening from 1^st July, please take note and take action if any of the upcoming changes affect you.

We have included an update from our affiliate Employsure, this includes updates to penalty rate changes and minimum wage.

Last month we held our Estate Planning Seminar please read our recap below which includes a free copy of the slides from the presentation. Thank you to Emily O’Brien and Gavin Barnes from Redchip/Yodal.
Please get in touch with us for advice on upcoming changes.

Employsure Update

End of financial year is a significant time for small business and with one of the most complex workplace relations systems in the world, it is essential that business owners stay updated and compliant with the changes that come into effect on, or after 1 July. Read more about the recent minimum wage review and penalty rate changes here

Monthly team member profile
Milan Kim (Accountant)
Business Services Specialist

Milan is an Associate member of CPA and has over 5 years’ experience in accounting.

She is a sincere and enthusiastic accountant who will always work with you to ensure you and your business achieve success.  She is an expert in SME business services and taxation.

Read Milan’s latest blog here

Did you miss our seminar on Estate Planning?

On the night, amongst other things, Dale spoke about death & tax – we all know these are unavoidable and certain and Dale pointed out taxes do not go away even after death. Emily O’Brien and Gavin Barnes from Redchip/Yodal introduced Yodal and the benefits of using this reviewing tool for your estate plan. Read more

Download slides

Blogs

EOY “Get your House in Order” Checklist

Compiled by: Fred Chang

We’ve compiled a list to prepare your business for 30 June, click here and contact your Advivo partner or accountant if you would like to discuss potential tax planning opportunities further.

Simpler BAS – Who is eligible and what’s the change?

Written by: Jasmine Lee.

The ATO is introducing a simpler BAS lodgment system from 1 July 2017. This will apply to small business entities with a GST turnover of less than $10 million. Read more

ATO Update – Disclosure of debt information to credit agencies

Written by: Milan Kim

New legislation from the Government, yet to pass, states that from 1 July 2017, the ATO will be able to disclose debt information to credit reporting agencies of taxpayers that are not effectively managing their debts with the ATO. Read more

Key Events/Dates:

• 18^th June – Brissie to the Bay – Chris Morris will be participating in the 100km Brissie to the Bay in support of MS Qld, to donate, click here
• 21^st June – Lodge and pay May 2017 monthly activity statement
• 25^th June – Lodge 2017 Fringe Benefit Tax (FBT) Annual Return for tax agents
• 30^th June – Super guarantee contributions must be paid by this date to qualify for a tax deduction in the 2016-2017 financial year
• 30^th June – END OF FINANCIAL YEAR

Disclaimer of Liability
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.