This month in Morris Accounting news…
Nathan’s update and October happenings
Hi Everyone,
Just when I thought I’d gotten through winter without getting crook, sneek away for a sly week away and got the flu. Thankfully I didnt get too behind and infect everyone! So we are pushing through with compliance work.
The trip to Lake Eyre was amazing, and highly recommend you get out and see this part of Australia. Its the first time there has been so much water in it for most people I know’s lives.
Oh, and the Adelaide wineries are great too (when not in bed with flu). But take 2 weeks to get around most of those there are so many!
For those who aren’t aware my wife Helen and I are expecting our first child in January, and as such I will more than likely be out of action for all of January and then join the demographic of parents working and looking after children.
As such I’d suggest that if you haven’t gotten your 2011 tax into us already to get done, do it now in case there are some minor delays after Christmas.
We are certainly living in uncertain times, with sharemarket, property market, interest rates, gold price, oil price not moving in normal correlations at the moment we are in uncharted territory.
What does that mean? Focus on certain things to improve whether you are an individual or business. That is, increase expenses, review/streamline costs, and get ready to invest and discuss tax effective ways to save.
As always, we are here to help you get ahead, and save tax. So don’t hesitate to contact us with any queries. Any of our staff can assist you with most enquiries, so talk to them, but as always if they can’t help and I’m in a meeting not able to take your call, leave a message or better still shoot through an email so I can get back to you with even better answers for you.
‘Til next time
Nathan Morris, Director
Upcoming events
Throughout the year Morris Accounting will be running a series of events for our business and personal clients. Checkout our Eventbrite events page for location and details of upcoming events and bookings, or alternatively contact our office 1300 219 818 or email info@morrisaccounting.com.au to register or for information.
- Wed 19 October – 5.30pm
How to save tax | with investment properties in and out of superannuation
- Wed 26 October – 12noon
Business Power Lunch | Successful business have great sales system! Does yours? Simple starting points to get things happening more easily and quickly, which your customers will love!
- Wed 16 November – 5.30pm
Business Exit Strategies | Succession Planning and preparing the business for sale
- Wed 23 November – 12noon
Business Power Lunch | KPIs, what are they? And how to use them for planning your business today!
- Wed 21 December – 5.30pm
2011 business review | Looking forward and preparing for the 2012 calendar
What people are saying about our events:
An opportunity to meet and actually talk to a business and accounting specialist. David
Nathan’s presentation was and excellent and he is very knowledgable, I’ve learnt even more about superannuation and excited about utilising it more. Chris
Nathan was informing and presented well. Stephen
Business owners need to be here, I now understand how to target your sales efforts. Chris
Lots of great food and drinks, so I don’t need to worry about dinner! Tam
Individuals and businesses – be prepared for a tax audit!
There is nothing “random” about ATO audits. Taxpayers still don’t realise just how much data the ATO has access to from other sources, like financial institutions, so it can easily see if a taxpayer is withholding information. In January last year the ATO just spent some major money implementing a new computer system which encompasses a number of their old databases and systems. Computer matching makes the exercise of data matching automatic and easy to perform. Morris Accounting expects that the ATO’s data matching activity to increase as a result of the introduction of this new system as a result audit activity will increase accordingly.
Click here to read further
Business strategy planning – planning for exit (or death)
I know that we all like to think we will live forever, but the reality is we don’t. As those of us who have lost loved ones know, it’s hard enough without any added anxiety over worrying about financial matters that may not have been adequately put in place.
We have another seminar coming up on Wed 16 November – 5.30pm Business Exit Strategies | Succession Planning and preparing the business for sale. Book Here
Click here to read further
Businesses! Time to review your sales process and customer relationships
Some of our business clients are already benefiting from our regular quarterly meetings where we go through our business health check. The business health check identifies areas in the business that need improvement, with the goal to improving efficiency, resulting in better profit and cashflow.
When was the last time you took a good look at your business sales process? Do you even have one?
The four pillars of business are marketing, sales, delivery/operations and administration. All too often confuse marketing and sales but they are two different things.
Marketing is identifying your marketing and through activities attract potential clients/customers to your business.
Sales is converting these leads from marketing, into clients and customers who will buy your service/product.
In the meantime, here are things you need to consider, Click here to read further.+
Book into our upcoming event regarding this topic Wed 26 October – 12noon Business Power Lunch | Successful business have great sales system! Does yours? Simple starting points to get things happening more easily and quickly, which your customers will love!
Have a great month!
Checkout www.morrisaccounting.com.au for more articles and posts
Don’t forget to follow us on facebook and twitter @MorrisAcc for weekly updates.
