Monthly Archives: September 2014

Tax time – reminder…

tax timeSince it’s almost the end of September (yes, it’s almost the end of September…already!!), I wanted to put a little reminder out there to everyone!

If you choose to prepare and lodge your tax return yourself, you must have it completed and lodged with the Australian Taxation Office (ATO), by 31st October.

Having said that, to take advantage of the lodgement concessions made available by the ATO to registered tax agents – you also need to register with the agent by 31st October.

It’s safe to say 31st October is a very important date for everyone – and it’s coming quickly!

For some individuals, I often hear them saying they can’t find their “group certificate” – don’t panic, contact your tax agent and discuss with them – they may already have access to that information via the Tax Agent Portal!

Also, it’s very common for people in business to leave the preparation of their tax returns until quite late in the year – just because it was done later last year (and probably the year before that…), doesn’t mean you always need to wait!  if you’ve lodged your June Business Activity Statement, there is no reason why your year end reconciliations cannot be completed and your tax returns prepared and lodged – doing so may even be to your benefit in calculating Pay As You Go Instalments…

You can read about the various methods for lodging your tax return here, and if you’d like to consult with The Tax Chic, you can contact us here!



“Grand Final” Day!

??????????????????????????????????????????????????????????????????????????Tomorrow is the Australian Football League (AFL) Grand Final for 2014!

Come Saturday afternoon, tens of thousands of supporters will pack the Melbourne Cricket Ground (MCG) to witness the spectacle that Grand Final Day has become…in addition, many hundreds of thousands of football fans will be glued to their television sets all across the country – beer in one hand and meat pie in the other – cheering on either the Sydney Swans or the Hawthorn Hawks.

It’s a fabulous display of dedication at its best!

While the AFL is “big business” in Australia – the same dedication is shown at sporting clubs, from metropolitan clubs in the city, to the smallest of regional and rural clubs in the country – each and every club being run as a business in their own right.

I think there are many business owners who could take some lessons in business by watching how these clubs go about revenue raising and budgeting…and many employees could learn a thing or two from the legion of volunteers who help these clubs to prosper…

No need for me to get anymore serious on this topic…if you’re a football fan then I hope you enjoy your day – and if football isn’t your cup of tea, I strongly recommend you hit the shops or the movies…it’s generally pretty quiet!

PS While I do barrack for the mighty Collingwood Magpies, I’ll be cheering on the Hawthorn Hawks tomorrow…my little brother wouldn’t have it any other way!



The “Sisterhood”…

???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????I had an interesting conversation with a male colleague yesterday, revolving around the concept of “women in business helping women in business”.

I feel the need to point out he was male, simply because it was pleasing to hear that he understood and supported why women often feel more comfortable in business situations when they are talking with another woman.

You will all have seen the message attached to my logo “Connecting Women with Numbers” – I am passionate about supporting all business, but place particular emphasis on assisting women to understand and interpret their finances.

So there I was thinking about the “Sisterhood, when I found myself watching the interview on Channel 9 between Ray Martin and Julia Gillard…

In no way am I about to discuss my political allegiance, but as a professional woman, I have never understood the scrutiny Julia came under while holding the position of Prime Minister of Australia.

No person in their working capacity should be judged on gender, marital status, height, weight or who does their hair in the morning!  Yet sadly, it is too often I hear women judging others on exactly these things (well…maybe not the hair thing…)

Is it too much to ask us to be professional about these matters?  To recognise that we are all different, with strengths and weaknesses of our own?

We all make mistakes, we all second guess our decisions…but as a human race we should do our very best to support others, and as a woman, I endeavour to support all women – this is my pledge to the “Sisterhood”!



The pre-nup

????????????????????????????????????????????????????????????????????????????????????????It’s wedding season!  Spring time, love, confetti, cake…and the occasional family drama…I love a wedding!

And while I am the first to wish my friends all the best when they tie the knot, it is a sad fact that not all marriages and unions will last forever.

I don’t want to put a dampener on things…but;

According to the Australian Bureau of Statistics, in 2012 there were 49,917 divorces granted…I’m unsure of the number of marriages which end in divorce, but I am sure that we all know someone who has been through one.

Something we’ve often seen on television and in the movies is the “pre-nup” (pre-nuptial agreement) – I don’t personally know anyone who has entered into a “pre-nup”, but the older I get…the more logical they seem.

In Australia, a “pre-nup” is known as a Binding Financial Agreement (BFA) and they are recognised by the Family Law Act 1975 (Commonwealth).

A BFA, which must be prepared by a lawyer, is not completely watertight, but can be a great way to be transparent with your partner about your financial situation.

You might want to consider a BFA if you:

  • are marrying later in life
  • are part of or are entering a blended family
  • have children from a previous relationship
  • have significant assets
  • wish to avoid an expensive legal process in the event of separation/divorce

I know all of this doesn’t seem very romantic, but I’m sure if you ask a recent divorcee…they would support my recommendation to at least consider this…