June 30's on the Horizon
A message from our Managing Partner,
The new financial year is almost here! This time of year presents an important opportunity to step back and assess your business so that you can start the new financial year on a high note. To do this, you need to ensure that you’re prepared for both pre and post-June 30, and ticking all the necessary boxes to meet your obligations, as some things have to be done before 30 June and by certain dates for compliance or tax deductibility.
To help you get started post-June 30 on the right foot, we have penned a number of blogs filled with tips to give your business a head start for the new financial year. Advivo Partner Dale Edwards explains how you can successfully align employee benefits with your goals for 2024-25. Alongside this, we outline how to successfully manage your business costs during the current times of inflation. I have also written a blog with some helpful tips for setting achievable and productive business goals.
Please remember that we have both a Pre- and Post-June 30th checklistavailable on our website to help you ensure you’re ticking all the necessary boxes for this time of year.
Before I sign off, I also wanted to flag that as of July 1, the SGC rate that you will need to pay is increasing to 11.5%. Please contact us if you have any questions about this change and how it will impact your business.
As always, if you require extra help preparing your business’s finances for EOFY, please don’t hesitate to reach out to the Advivo team for further assistance and wish you a happy and prosperous new year for 2025 financial year.
Kind Regards,
Leon Stephan
Managing Partner
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 and pay 2024 Fringe benefits tax annual return for tax agents if lodging electronically.
30 June
If you receive Child Care Subsidy and Family Tax benefit payments from Services Australia, you must lodge your 2022-23 tax return by 30 June 2024, regardless of any deferrals in place.
Note: 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.
We would love to hear your feedback!
We would love to hear your feedback and would be grateful if you could write us a Google review. This will allow us to continually improve our service and let others recognise the value we provide.
