Let's do this.

2019 is here already and as time seems to go faster and faster, lets ensure we are working together to stay on top of the important things to ensure it can be as easy as possible and your work-life balance can be achieved. Below are some hints and tips that may make life and business easier for you.

Goal Setting

It is important to focus on the bigger picture and why you are doing what you are doing. If you are no longer enjoying what it is you are enjoying, it is time to review what it is you are doing and consider how you can find that drive again? One way of staying on track and ensuring you are achieving what you wanted to do is to set some goals. Goals can be made up of a mixture of business achievements and personal achievements you aim to reach.
Writing your goals down and reviewing them regularly will assist with keeping you focused and more likely be achieved. There is an even higher chance of realising them if you let others know of your goals. Your goals will change as you move through different phases of your career. Know what they are on focus on them.       

Staying up to date

As a business owner it is paramount that you stay on top of your obligations. Obligations regularly seem to increase. Here are some tips to assist you with staying on top of your obligations: 
Bookkeeping
Your bookkeeping is vital to ensuring you maintain a healthy business. Having up to date records ensures you have current results for decision making; reports can be lodged in a timely manner to avoid late lodgement penalties and helps keeps you in control.
Are you using accounting software? Are using the accounting software that is right for your business?
Cloud based software including MYOB and Xero have been developed to ease the burden of staying up to date. With the ever increasing list of obligations and lodgements required by business owners is your current software capable of providing what you need?
Cloud based software offers bank feeds, which can be setup to automate a lot of the processing time. Most of these products available also have the capabilities to ensure you are meeting other obligations such as single touch payroll, super stream reporting requirements, Taxable Annual Payment Reports and GST reporting.   
Bookkeeper
If the thought of managing your business on a day to day to basis is too demanding to do your own bookkeeping, is it a better option to outsource this function to someone else so you can focus on doing what you are the best at? Bookkeepers are an additional business cost, however the time you save on processing and staying up to date may be better spent on the craft you master in increasing your profitability!

Downtime

You work hard as a business owner. Ensure you set goals to reward yourself for your effort. Although at times it feels like you don’t have spare time, don’t forget to make time for yourself and have a break. Work hard, play hard.

Communicating

Your business is about your lifestyle. Talk to us about what steps you can take to ensure you are achieving what you want and if you are not, what can you do to realise this.

Important ATO lodgement due dates

21st February 2019 – January 2019 Activity Statement for monthly lodgers
28th February 2019 – December 2018 Activity Statement for quarterly lodgers
21st March 2019 – February 2019 Activity Statement for monthly lodgers
31st March 2019 - 2017/18 Tax Return for Companies and Superannuation Funds with total income over $2 million (reported in their last lodged tax return)
31st March 2019 - 2017/18 Tax Return for Individuals with a tax liability of over $20,000 (reported in their last lodged tax return)
21st April 2019 – March 2019 Activity Statement for monthly lodgers
28th April 2019 – March 2019 Activity Statement for quarterly lodgers (if lodging yourself by paper)
28th April 2019 – Super guarantee contributions for the March 2019 quarter must be paid
15th May 2019 – 2017/18 Tax Returns for all entities not required to have lodged earlier
                           – 2017/18 Company and Super Fund Tax to be paid if required
21st May 2019 – April 2019 Activity Statement for monthly lodgers
26th May 2019 – March 2019 Activity Statement for quarterly lodgers (if lodged electronically)
28th May 2019 – Pay Fringe Benefits Tax (if liable)
5th June 2019 – 2017/18 Tax Returns (where any amount payable paid in full) talk to us prior to relying on extended due date)  
21st June 2019 – May 2019 Activity Statement for monthly lodgers
25th June 2019 – 2018/19 Fringe Benefits Tax return (if lodging electronically).