As we move through the first quarter of the financial year, the lodgement obligations for this period are many and an important part of finalising the prior financial year to allow Income Tax Returns to commence lodgement. We have provided a detailed list of some of the key lodgement obligations for your business.

As we make our way well into the new financial year, now is a great time to take a moment and reflect on what it is that we are creating and shooting for. For some of us, that may mean a reflection on our plans for retirement. It is important to note, however, that retirement is about more than just having enough money to live on, it’s also about having something to live for.

Well, they’ve finally left the nest and now you’re trying to get reacquainted with your spouse! The kids leaving home can either give you a great sense of freedom or leave you struggling to find other activities to fill in your time. Either way, it’s the perfect time to review your financial plans and set yourself on course for the next stage of life.

One thing that is certain with these Coronavirus times is the frequency of changes, and last week’s announcements by the Federal Government were no different. As expected, the Government is scaling down how much it pays to employees currently on JobKeeper.

As we say goodbye to the 2020 financial year, our opportunity to reflect on what we have learned or what we can improve on is tainted by an element of uncertainty as we continue to battle the fallout of COVID-19. Many business owners continue to re-open and return to some form of normality while others still grapple with a restricted existence. For many businesses, now is the time to consider what opportunities may be available in the new financial year.

COVID-19 is changing lives, goals and plans. Those coming up on retirement may have the rug pulled from under them in both the short and long term. The various assumptions they made may no longer be reliable as the stability of their circumstances has turned on their head.

Active managers are once again ready to step into the light and prove their worth in volatile investment markets. It’s a cycle as old as time, you can set your watch by it. A new year rolls around or maybe there’s some market volatility and these articles start coming thick and fast. Active fund managers with good teeth and $100 haircuts are being fawned over by journalists. This is the time we’ll need their expertise.

As we head towards the 30th June cut-off date, the focus of business owners shifts greatly towards ensuring all lodgements have been made prior to the cut-off date to ensure the optimal income tax position has been achieved.  The key word at this time is planning.

As we near the end of yet another financial year, many businesses have found themselves in a world we could never foresee.  Primary producers & reliant businesses have continued to have reduced turnovers & increased costs because of ongoing drought conditions, traditional retail businesses are increasingly impacted by an online world & the impact of COVID-19 has been felt by every individual and business.

It is extremely important that you know your tax for investments. No-one wants to lose all of their return go straight to tax!

Yes, interest rates are low, but what does this actually mean for you?