It’s AFL grand final weekend here in Victoria…and today is a public holiday (and a contentious one at that!)

While tomorrow will be spent glued to the television (or in our case, the projector on the garage wall…I mean if you’re going to watch the footy you might as well go big!), and consuming the traditional footy food of hot dogs, pies and beer – today marks the first public holiday for Victoria in recognition of the AFL grand final.

On this day there are parades and celebrations in the city of Melbourne, and I appreciate that many want to attend these functions – but what about the rest of the state??  Many small businesses in regional Victoria have been forced to close their doors, on the last Friday of the school holidays (i.e.: a traditionally busy day), simply because they cannot afford to pay their staff penalty rates!

Anyway, The Tax Chic will be working (and paying herself penalty rates so she can afford her upcoming Parisian shopping…) so feel free to drop me a line!

On more important matters, I will be barracking for the Hawks tomorrow (my little brother insists!), and apparently there’s some other grand final on this weekend too??  I honestly have no idea who is playing in the NRL grand final this year, can someone suggest a team to barrack for?

Regards

With so many deadlines and so many responsibilities, as a small business owner you could be forgiven for forgetting something every now and then…

To help combat this, I’ve decided to introduce a “Key dates” post for each month and I hope it will help you to keep on top of your obligations with the Australian Taxation Office (ATO)!

Some months there will be quite a few things on the list, and others will appear light on – but the important thing to remember is that even if you are unable to meet your payment obligations, you should still attend to the lodgement of documents.

The key dates for October 2015 are:

• 21st October – September monthly Business Activity Statement (BAS) due
• 28th October – September quarterly superannuation guarantee due
• 28th October – September quarterly Business Activity Statement (BAS) due

Let me know if you need a hand preparing or lodging your BAS or superannuation obligations – I can make it so easy!

Regards

Along the same lines as last weeks post Quotes with Xero, if you run inventory in your Xero file you can easily generate purchase orders.

While many small businesses do not use purchase orders on a regular basis, you might find them useful if they fit within your operating system.

For example, I have one client who purchases the majority of his inventory (for both use in repairs and for retail sales), from one primary supplier.  In order to streamline his processes, when setting up each inventory item, he has used the same codes and names for each item as his supplier.

This enables him to select the item as part of a purchase order and the supplier knows exactly what he’s talking about.

The use of purchase orders can be beneficial for trade type businesses used in a similar manner as quotes – as the quote is prepared, a purchase order for the goods required can be prepared at the same time.

Each purchase order is able to be converted into an invoice once the goods have been received – of course this eliminates double handling of the transaction which is a great time saver.

For more information on using purchase orders in Xero, please get in Contact.

Regards

Anyone who knows me knows I have a soft spot for a good cause…and when that cause includes raising awareness of important issues, my interest and need to be involved heightens.

My good friend Sonia Zeiback , from Tartakover Insurance Brokers Pty Ltd is the mastermind behind a new initiative “Running for Cover”, and The Tax Chic was more than happy to support and be involved when asked!

The team at Running for Cover are participating in the Melbourne Marathon Festival on Sunday 18th October and in doing so are raising funds and awareness…

The funds raised will be distributed to Murdoch Children’s Research Institute (MCRI), The Alfred Foundation and the Beyer family from Geelong.

For a second time in less than two years, Scott Beyer was struck by a rare blood cancer that had the family considering selling their house to pay for the $15,900-per-round drug Brentuximab Vedotin – and it was reading of Scott’s circumstances that led Tartakover to launch Running for Cover.

This is where the awareness campaign comes into play – the fact there was no life risk insurance in place to help Scott and his wife Corinne when he was first diagnosed at 28, is an all too common reality that could be avoided.  Eliminating extreme financial hardship during the toughest of times is the ultimate aim of a solid life insurance plan.  As a minimum, had cover for Critical Illness been in place, the policy would have paid a lump sum, which would have made the world of difference to Scott and Corinne’s ability to manage the cost of extensive medical treatment, loss of income and the need to keep meeting day-to-day living expenses.

Tartakover and the Beyer family are hoping others will learn from this ordeal and “seek professional advice before their life takes that turn for the worse”.

Tartakover’s commitment to helping others through the provision of sound insurance advice and other means, is steadfast just as The Tax Chic is committed to educating you all on matters of bookkeeping, accounting and taxation – as such, we make a great team!

Please have a look at our Facebook page and help us to educate our community!

Note: by following the link above you will find details of two upcoming movie nights in Melbourne and Geelong featuring Everest – please show your support by attending if you can and invite your family and friends.

Regards