Sullivan Dewing Chartered Accountants & Business Builders

🩵❤️ DAD STATS* 🩵❤️

Did you know?
👑 20% of Australia's population is made up of dads.
👑 Australia has approximately 4.6 million dads, with an estimated 2.2 million dads currently with children under 18.
👑 Of these, approximately 156,000 are single-parent fathers who look after 228,000 children.
👑 In Australia, there are approximately 144,000 stay-at-home dads with dependent children.

Cheers to the incredible dads and father figures in the SD team and community.
Enjoy your Father's Day.

*Source: mccrindle.com.au

The Fair Work Legislation Amendment (Closing Loopholes Bill No. 2) Act 2024 passed both houses of Parliament as of February 2024.

Our friends at Circle Recruitment & HR, IR and HR consultants have prepared a detailed overview of some of the most significant changes to employment laws that started this week, 26 August 2024.

Find out more, including the key takeaways you need to know, on the Sullivan Dewing blog. https://www.sullivandewing.com.au/post/navigating-the-closing-loopholes-bill

For our team meeting this week, we were all asked to bring a photo of ourselves from kindergarten to Year 2. 🎒 The results were too adorable not to share!

😜 Of course, Terry bent the rules and brought a photo of himself at 22, taken at the Caringbah Business Club. We have to admit, he was quite the trendsetter!

As tax season approaches, scammers are ramping up their efforts to target unsuspecting Australians with various tax-related scams. 🚨 Here are the top four tax scams to watch out for:

1. Phishing Scams
2. Robocalls and Impersonation Scams
3. Tax Agent Impersonation Scams
4. Cryptocurrency Investment Scams

Learn more about each and how to protect yourself on the Sullivan Dewing blog. https://www.sullivandewing.com.au/post/four-major-scams-targeting-australians-this-tax-season

We're very proud of the 80+ reviews we've received on Google Business. Each one means a great deal to us, reflecting the trust and lasting relationships we build with our clients. 🩵

A grateful shout-out to Mark for taking the time to share this feedback. 🙏🏽

Happy 25th work anniversary to the incredible Nat! 🥳

Thank you for everything you do. We hope you enjoyed celebrating with your favourite cannolis—we sure did! 🩵

Cheers to many more fabulous moments. 🥂

EOFY Reminder! ⏰ TPARs (taxable payments annual report) are due for lodgement with the ATO by 28 August 2024

If you pay subcontractors, consultants or independent contractors, make sure to lodge your TPAR with the ATO. No procrastinating!

https://www.ato.gov.au/businesses-and-organisations/preparing-lodging-and-paying/reports-and-returns/taxable-payments-annual-report

We love our local business community and adore bringing colleagues, clients and friends together for our annual Bubbles & Brunch event each March. Today, we're reminiscing and celebrating the generosity of our sponsors and everyone who attended or supported this year's event. Thanks to all of you, we raised over $10,000 for Women's Health in 2024!

Orana is a community organisation and registered charity located in Sutherland Shire. We are privileged to specifically support the incredible work of Orana Women's Health Centre, where the funds raised go towards supporting the dedicated volunteers who provide invaluable services. To learn more about Orana and how you can get involved, visit their website: https://oranansw.org.au/services/womens-health-centre/

We're bringing the good vibes for your Friday weekend warm-up! 🩵

Last weekend, Jeni and Heather attended the 90th birthday party of our long-time client, Jack Iori, at Barbara's Italian in Rouse Hill. 🎂

Jack has been with us for 40 years, so it was an honour to celebrate this milestone with him, his friends, and family. The evening was filled with dancing and delicious Italian food. 🍝💃🏻🎈

Jack, we hope you're continuing to enjoy the festival of 90 this weekend!

Nothing makes us happier than feedback from our fantastic clients. 😊

Thank you Tash. 🩵
Crossfit Inventive

Thank you to everyone who attended our Economic Update Seminar at Gymea this morning. It was a fantastic start to the day, filled with valuable insights.

A special thanks to our guest speaker, Tapas Strickland, Head of Market Economics at NAB for sharing your time and knowledge with us.

It's so lovely to see the sun on a Friday! Although it may be cold, we are enjoying the blue sky.

Give us some sunshine ☀️ in the comments if you feel the same.

🌿 Interested in Electric Vehicles (EVs) and the FBT exemption?

Explore how the Australian government is promoting sustainability through tax incentives on the SD blog. We cover eligibility criteria, reporting requirements, and the potential benefits for your business.

Visit our website for these essential insights > https://www.sullivandewing.com.au/post/electric-vehicles-and-fbt-exclusion. 🚗⚡💼

RSVPS are closing soon! 📣

We are pleased to invite you to an exclusive Economic Update featuring Tapas Strickland, Head of Market Economics at NAB. Gain valuable insights to inform your decisions at this event. Spots are limited, so RSVP now to secure your FREE place > https://www.sullivandewing.com.au/event-details/economic-update-with-tapas-strickland-head-of-market-economics-nab

This week, it's all about treating Natalie! 🎂

Sending you all the best birthday festival wishes from your Team at Sullivan Dewing. 🥳🎈

REMINDER! 🚨 STP is required to be finalised no later than 14 July 2024

Don't forget to dot those I's and cross those T's with your STP finalisation! ✅ More info on the ATO website here https://www.ato.gov.au/businesses-and-organisations/hiring-and-paying-your-workers/single-touch-payroll/start-reporting/end-of-year-finalisation-through-stp

You're Invited ⭐️ Don't forget to RSVP on our website! ⭐️
Economic Update with Tapas Strickland, Head of Market Economics, NAB

To help you gain insights and make informed decisions, we are delighted to invite you to an exclusive Economic Update with Tapas Strickland, Head of Market Economics, NAB at Tradies Gymea. Spots are limited, and you must RSVP to attend.

Book your place here https://www.sullivandewing.com.au/event-details/economic-update-with-tapas-strickland-head-of-market-economics-nab

Cheers to us! 🥂

This week, Team SD had a fantastic time at our annual EOFY & Team Talk celebration. We always cherish these moments to reflect on the past year and look forward to the exciting adventures the new financial year will bring.

Let’s go FY2025! 🤩

We've made it to a brand new financial year! 🥳 Wishing you a successful and profitable FY2025. 💼💰

To help you start on the right foot, here's a handy list of EOFY reminders:

1. 🖥️ Single Touch Payroll (STP) Finalisation:
- Don't forget to dot the I's and cross those T's with your STP finalisation! ✅ Visit the ato.gov.au website for full details.
- STP is required to be finalised no later than 14 July 2024

2. 📝 Taxable Payments Annual Report (TPAR):
- If you pay subcontractors, consultants or independent contractors, make sure to lodge your TPAR with the ATO. No procrastinating! ⏰ Visit the www.ato.gov.au website for full details.
- TPARs are due for lodgement with the ATO by 28 August 2024

3. 👔 For our salary and wage earners:
- Hang tight! Your employer needs to finalise STP by 14 July 2024. Patience is a virtue! 🧘‍♀️
- The ATO won’t process any tax refunds until after 14 July 2024 to allow for STP finalisation and pre-fill data to come through

4. ☝🏼 Super Guarantee Rate Increase
- From 1 July 2024 the super guarantee rate increases from 11% to 11.5%

5. 🗓️ Any unpaid 2024 Superannuation:
- Must be paid by 28 July 2024 otherwise a SGC Statement will need to be completed and lodged with the ATO

6. 🏢 GST-registered business owners, listen up:
- BAS comes first - due either 21 July 2024 if a monthly lodger or 25 August 2024 if a quarterly lodger. Mark those calendars! 📅
- Business accounts can’t be finalised until after the BAS is lodged

7. 💹 For all you savvy investors:
- The ATO might not have all your interest, dividend, and fund data until August or later. Don't stress! 😌

8. 🐢 Remember, slow and steady wins the race:
- With all these different deadlines, take a deep breath and tackle things one at a time. You've got this! 💪

Getting your ducks in a row now can lead to smooth sailing come tax time. 🦆🚤

If you're scratching your head over any of this, don't sweat it! We're here to help. Just give us a shout! 📞

Here's to crushing it in the new financial year! 🥂

The Sullivan Dewing Team

Today, we're celebrating Gina's last day at Sullivan Dewing. 💕

We can't thank you enough for the professionalism and care you've shown to your clients, team, and the work you do.

We'll miss you, and so will your clients—judging by the beautiful flowers arriving at the office today! 💐 A special shout out to the Drews, the Rayments, the Hallorans, and the Hunters for the stunning blooms in honour of Gina.

Gina, have a wonderful time on your new adventures and enjoy being a grandparent!

The Sullivan Dewing Team

🎉 Happy New Financial Year from the Sullivan Dewing team! 🎉

As we step into July and a new financial year, we're here to support you in reaching your business and personal wealth goals. Here's to fresh starts, exciting opportunities, and a year of growth and success for you! 🚀

Sullivan Dewing Chartered Accountants & Business Builders Sullivan Dewing Chartered Accountants work with you & your business to be financially well organised

The latest income tax cuts from the Australian Government apply from 1 July. To estimate how the tax cuts will change things for you, use the Australian Government Calculator tool via the "Stage 3 tax cuts effective 1 July 2024" article on our website.

https://www.sullivandewing.com.au/post/stage-3-tax-cuts-effective-1-july-2024

REMINDER! Before the new tax rates come into effect, check any salary sacrifice agreements to ensure they will continue producing your desired result.

In good news, the 2024-25 NSW State Budget provides some assistance for businesses, considering the state's fiscal constraints and the current economic slowdown.

We summarise the details for you on our website here https://www.sullivandewing.com.au/post/2024-25-nsw-state-budget-summary

The lead-up to the EOFY and the fresh new opportunities for the new FY is a great time to review your business's structure to ensure it provides the best option for asset protection and flexibility for distributing profits in the most tax-effective manner.

If you have any questions, please do not hesitate to contact your Client Manager.

Find more Tax Tips for the EOFY on our website https://www.sullivandewing.com.au/post/tax-tips-for-the-end-of-financial-year-2024

⭐️ You're Invited ⭐️

Economic Update with Tapas Strickland, Head of Market Economics, NAB

To help you gain insights and make informed decisions, we are delighted to invite you to an exclusive Economic Update with Tapas Strickland, Head of Market Economics, NAB.

Spots are limited, and you must RSVP to attend. Book your place on our website: https://www.sullivandewing.com.au/event-details/economic-update-with-tapas-strickland-head-of-market-economics-nab

We're seeking an experienced and enthusiastic Senior Client Manager (Accountant) to join our team.

🔺Would you like to work close to home in the Sutherland Shire?

🔹 Or perhaps you're looking for a change to bring a smile back to your number-crunching expertise?

Learn more about the role we have available on our website https://www.sullivandewing.com.au/post/join-our-team-3

🔹 EOFY Tax Tip: Review your stock on hand before 30 June 2024 and identify any obsolete or unusable stock.

🔺 Action: Write off these stock items prior to 30 June 2024 and remove from business premises.

Get the full rundown of our Tax Tips for the EOFY here https://www.sullivandewing.com.au/post/tax-tips-for-the-end-of-financial-year-2024

💰 EOFY Tax Tip: Write Off Bad Debts Before 30 June 2024!

This means going through your debtors list and either collecting payment, taking action, or writing the debt off. Debts should be written off when there is no chance they will be recovered. The debtor must be removed from your accounts receivable list to be eligible for a deduction.

Get the full rundown of our Tax Tips for the EOFY here https://www.sullivandewing.com.au/post/tax-tips-for-the-end-of-financial-year-2024

Today is a super special day at Sullivan Dewing as we celebrate Catriona’s 15th Anniversary with our team. As our wonderful Client Services Manager, many of you will know and love her as much as we do. Thank you, Catriona! We hope you are enjoying the celebration of you. 💐🩵