ATO Tax-time - Areas to focus on

ATO Tax Time Focus Areas

It’s tax time again! As you gather your receipts and other assorted tax documents, you should also turn your mind to what the ATO is paying close attention to this year. This year, the ATO is focusing on taxpayers who claim “other” work-related expense deductions at label D5 on individual tax returns. According to the…

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Don’t Miss These Changes Effective 1 July 2018!

[heading] Legislative Changes That Might Affect Your Business [/heading] Minimum Wage From 1 July 2018, the national minimum wage will increase in Australia by 3.5% The new national minimum wage is $719.20 per week, for a 38-hour week, or $18.93 per hour. The increase applies from the first full pay period starting on or after…

Superannuation Guarantee Amnesty

Superannuation Guarantee Amnesty – Don’t Miss Out!

What is Superannuation Guarantee Amnesty? In May this year, the government announced the start of a Superannuation Guarantee Amnesty. The Amnesty is a one-off opportunity for employers to self-correct any past super guarantee (SG) non-compliance without receiving a penalty. Any catch-up payments made in the 12 month period will also be tax-deductible. The Amnesty applies…

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30 June is coming…..Are you ready?

Get Your Business Ready For the EOFY The end of financial year (EOFY) is upon us again and the team here at Advivo are busy preparing Strategic Tax Planning and Forecasting for many of our monthly clients. Use Our EOFY Checklists Please use our complimentary checklist to make sure your business is ready for EOFY.…

Debtor Finance - What is it?

Debtor Finance – What is it? And Can it Help Me?

How Your Business can Benefit from Debtor Finance   WHAT IS IT? Debtor Finance is, quite simply, a line of credit linked to and secured by your outstanding accounts receivable. If your business supplies products or services to other businesses on standard trade credit terms, Debtor Finance can help. There are a number of variations…

Single Touch Payroll Software

Single Touch Payroll Software – Are You Ready?

Get Your Business Compliant to The Single Touch Payroll Software   Are you affected? Who is affected When does this start? Businesses with 20 or more employees on 1st April 2018 (excluding directors and officeholders) 1 July 2018 Businesses with 19 or fewer employees on 1st April 2018 (excluding directors and officeholders) 1 July 2019 Will…

Advivo 2018 Budget Review

Advivo 2018 Budget Review

Scott Morrison’s budget announcement of personal income tax changes need no introduction, just a lot of patience. The budget headlines have glossed over some of the important detail which we know will affect our business clients as well as everyone’s superannuation. Summarised below are the key take-aways which we’ve cherry picked for our clients. It…

Why we are leaving Facebook

Advivo is Leaving Facebook

Why Advivo is Leaving Facebook It’s recently been revealed that data firm, Cambridge Analytica, has allegedly accessed information for around 83 Million Facebook users without their knowledge.  This has stunned users across the globe, causing many to delete their Facebook accounts. Details of the Facebook Issue In case you don’t know the details, let us…

What is Fringe Benefit Tax (FBT)?

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. An example of a fringe benefit being provided to an employee may be one of the following: Allowing your employees to…