Welcome to the new look Advivo Newsletter, we hope you like it. As many of you already know the very core of what we do at Advivo is to help you grow your business, yes the accounting and tax compliance is essential too but it does not add value to what you do and work…
Further Changes To The Instant Asset Write-Off Last month, we published the changes made to the Instant Asset Write-off legislation, well we may have spoken to soon… Further to the proposed budget announcements last week, effective from 2nd April 2019 the government announced that it is increasing and expanding access to the instant asset write-off…
2019 Federal Budget Update Significant Impacts Welcome to Advivo’s summary of what we believe are the most significant impacts for businesses from last night’s Federal Budget. Our comments are predominantly focused on the measures that affect businesses and their owners. Importantly, given there is almost no time to legislate these items, this government may need…
Making Your Life Easier with STP Everyone should be aware of the changes regarding Single Touch Payroll (STP) and the reporting requirements that come with it. For those that need a refresher, we have put together a quick recap. STP Reporting Start Dates If you are an employer with 20 or more employees, you will…
What is Fringe Benefits Tax or FBT? A fringe benefit is a benefit provided in respect of employment, essentially 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 use…
Key Points to Remember in Keeping Your SMSF Compliant A self-managed super fund (SMSF) is a way of saving for your retirement. It is different from a regular super fund as the members are usually also the trustees. This means the members make the investment decisions for the fund and are responsible for complying with…
Keep Up With The Changes To Payroll We have written a length about the changes to payroll over the last months, Single Touch Payroll has been one of the bigger changes that are happening, but there are more! Minimum Wage The Minimum wage review was completed by the Fair Work Commission and the new rates…
Welcome to the pre-Christmas crazy time! As always, we endeavour to do all that we can for our clients while also preparing for the new year and of course, we will squeeze in our annual staff Christmas party, because it is the festive season after all. This year we have focused on educating our clients…
New Legislations and Guidelines For Financial Year 2019 The new financial year is now in full swing! So too are some of the new legislations and guidelines that may affect the way you report to the ATO for the 2019 financial year. First off, I encourage you to read our FBT blog (FBT Exempt Vehicles…
So I paid super a few days late…crucify me. Many small business owners often end up with superannuation paid late. This is especially the case when they’re trying to pay super quarterly as opposed to monthly. The black letter of the law actually denies businesses an income tax deduction for superannuation which is paid late. …
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