Plan Ahead with Advivo’s SMSF Accounting and Support
Our first event for the year, “Your Strategic Planning Toolkit Explained” was held last month and was well attended. We shone the light on some tools we use to illuminate the path to a more robust and successful strategic plan to take your business to the next level. In case you missed the event, checkout the highlights below.
It seems like the never-ending story but the Superannuation Guarantee Amnesty bill has finally passed both houses of parliament– see below for more information.. Ideally you won’t need the amnesty, but if you are unsure of what you need to comply, contact our office today.
This month we are focusing on Self-Managed Superannuation Funds (SMSF’s) and making sure Trustees keep their SMSF’s fully compliant, getting the most from them and managing their fund in the most cost effective way possible. see below for more on this.
Lastly, if you are an employer with employees on a modern award, be sure to check out our blog below which highlights the changes that have recently taken place.
Sincerely,
Leon Stephan
Managing Partner
Is a Self-Managed Superfund (SMSF) Right For You?
We strongly recommend talking to an expert when it comes to your personal retirement goals. Advivo Accountants and Advisors proudly provide expert advice about the tax advantages of superannuation and will guide you every step of the way with your SMSF. Click here to learn more about the pro’s and con’s of having your own SMSF.
Your Strategic Planning Toolkit
Explained Event Highlights
Last month, Advivo hosted its’ first event of 2020 focused on 11 analytical and strategic planning tools to assist with business planning. Thanks to everyone who attended! It was a very successful night. Click here for the video recap.
SG Amnesty Bill passes Parliament:
A small window for employers to get it right!
The superannuation guarantee (SG) amnesty bill has now passed both houses, with employers set to get six months to disclose historical non-compliance before tougher penalties apply… What does this mean for you? Click here to find out.
Changes to Modern Awards have commenced
affecting the use of Annual Salaries
Are your employees covered by a modern award? From 1 March 2020, employers who currently pay annualised salaries to employees covered by certain Modern Awards must comply with new changes, record-keeping and reconciliation requirements…read more.
Advivo's Charity of the Month!
Advivo’s commitment to the community includes our monthly charitable donation! Last month we donated to FareShare, an organisation that rescues surplus food and cooks free, nutritious meals for people doing it tough.
Have your say and help us decide – HERE, 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:
- 21 March – Lodge and pay February 2020 monthly business activity statement.
- 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 the head company of a consolidated group (excluding large/medium), with a member who had a total income in excess of $2 million in their latest year lodged unless the return was due earlier. Payment for companies 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.
- 31 March – Record odometer readings for business vehicles.
