It’s hard to believe the first quarter of 2018 is almost gone! And yes, that means those dreaded fringe benefits tax returns are due again. Are your log books up to date? Do you know exactly what you need to do? See the following article on FBT basics for all you need to know.
We all want our businesses to prosper and grow but we also need to understand that, like children, businesses have growing pains. Dale has some great tips to help you manage some of the many issues your business can experience as it grows and take away some of that pain.
The effects of rapid growth on your cash flow, as discussed by Dale, are just some of the various absorbers of cash in our businesses. Over the coming months, we will be publishing a series of tips to help you manage and improve your cash flow, culminating in a seminar on 2nd May 2018.
I am very pleased to announce the launch of Advivo ICP (Innovation Commercialisation Partners) a specialised service and network of trusted advisors. When you are too busy with your ongoing businesses and have to time to focus on projects in your pipeline, we can help you “take to market” products and services that have significant appeal both locally and internationally. Our goal is to give these novel ideas the attention they deserve so you can maximise your revenue and reach the next level.
Leon Stephan
Managing Partner
How to increase your chance of success: Innovation and Commercialisation go hand-in-hand.
We are excited to present Advivo ICP Pty Ltd, Innovation and Commercialisation Partners.
No longer is innovation just about creating ideas and ‘seeing how it goes’. Advivo ICP Pty Ltd has created a network of highly skilled innovators and commercialisation specialists where data science, ideation, project management, and global networks are the core to new ideas’ success. Click here to find out more how we can take you and your business to the next level.
Strategies for growing your business without murdering its cash flow
Written By Dale Edwards
A business often needs to spend cash fulfilling orders before payment is received for these orders and so working capital is needed to fund the timing gap. When revenue is growing this is exacerbated because more sales = more working capital needed until customers pay for work done/product delivered.
Click here for some valuable steps that can help you grow and nurture your business rather than murdering it!
Case Study – Seizing the business opportunity!
When a new business opportunity presents itself your first thought is often to act quickly before you miss out. But the danger of that can be not understanding the cash impact of every decision, no matter how profitable you know it to be.
Click here to read about how one of our clients are seizing their opportunity, with the expert guidance of Chris Morris and, finding the solution to make sure they get the biggest bang for their buck!
Reducing Fringe Benefit Tax (FBT) liability for SME’s
What is Fringe Benefit Tax (FBT)?
A fringe benefit is a benefit provided in respect of employment. This effectively means a benefit provided to an employee (or their associate) because they are an employee.
Read more here about the different types of FBT and some of the strategies you can put in place to reduce the amount of FBT you have to pay.
The votes are in for February’s Charity of the Month!
Winner: MS (Multiple Sclerosis)
MS is a combined entity of ACT, NSW, Victoria and Tasmania with 60 years’ insight into how to live well with the disease. They are there to help people live their lives with multiple sclerosis and provide them with the best long term options and life outcomes.
Don’t worry, those who didn’t receive the winning votes will have their votes carried over next time their name is drawn.
Please click here to vote on this month’s recipient of our contribution.
Team member profile
Nicholas Love (Accountant)
Nicholas is an Accountant who works with a wide range of Advivo’s clients in helping them achieve their goals while gaining vital insights and knowledge about our client’s businesses.
He has worked with the team at Advivo since August 2016 and has thoroughly enjoyed getting to know our clients and team.
Nicholas’s has diverse work experience in retail, manufacturing, mining, import/export and commercial management, his commercially-minded and empathetic approach to working with clients strengthens the relationship enormously.
His incessant curiosity means that he holds certifications in many popular, relevant and emerging business information systems including – Xero Certified Advisor (incl. Payroll), Quickbooks Online ProAdvisor, Tradify Certified Partner, Vend Advisor and Neto Partner and the list goes on.
Nicholas’s current goals include completing his CPA studies, and to run the Bridge to Brisbane this year., we wish him luck!
Key Events/Dates:
- 21 March – Lodge and pay February 2018 monthly activity statement.
- 30 March – Good Friday – Advivo Office Closed
- 31 March – Lodge tax return for companies and super funds with total income of more than $2 million in the latest year lodged (excluding large/medium taxpayers), unless the return was due earlier.
Payment for companies and super funds in this category is also due by this date. - 31 March – Lodge tax return for individuals and trusts whose latest return resulted in a tax liability of $20,000 or more, excluding large/medium trusts.
Payment for individuals and trusts in this category is due as advised on their notice of assessment. - 2 April – Easter Monday – Advivo Office Closed
