Hailston & Co Accounting

Embrace failure as a stepping stone to success in life's journey. Cultivate a growth mindset, viewing challenges as opportunities for improvement. Learn from mistakes and refine strategies. Success is not just winning but evolving, celebrating victories and embracing lessons from defeat.

You either win, or you learn! ✨

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🚀Boost your business's health with a Cash Flow Forecast! 📈

💰 Understand your finances, plan for expenses, and ensure a healthy cash flow. 🌐💡 From early issue detection to strategic decisions, it's the secret to a thriving and resilient business. 💪🚀

Don't just run your business – run a financially healthy one!

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🏡 NSW Land Tax 2024 Guide: Unraveling the Essentials!

Curious about the ins and outs of NSW Land Tax for 2024? Whether you own property or just want to understand the nuances, here's a quick overview 👇

https://www.hailstonco.com.au/admin-blog/nsw-land-tax-2024-the-details-and-key-actions

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🌟Why We Recommend Xero for Your Business🌟

➡ Ensure confidence in your numbers with real-time insights on cash, balances, and invoices
➡ Say goodbye to manual bookkeeping with Xero's automated features.
➡ Seamlessly create and send invoices online, going paperless and eco-friendly.
➡ Access your financial data anytime, anywhere with Xero's cloud-based system

HCO is here to guide you on optimising your business finances! 🚀💼

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🎄H+CO Christmas Party 2023 🎄

🎄🌟 Please note, our office will be closed from 12pm on Friday 22nd 2023 to for the Christmas holidays. Wishing everyone a joyful and relaxing break! We’ll be back and ready to assist you on Monday 8th January. Merry Christmas & a Happy New Year! 🌟🎄

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Hoppy Easter every Bunny 🤍

REMINDER to all Xero users: Single Touch Payroll - Phase 2 deadline is 31 March 2023.

If you have any questions, please don't hesitate to get in touch!

Another week celebrating birthdays last week at H+Co - happy birthday to Casey & the boss man Craig, we hope you each enjoyed your specials days!

February is a busy month of birthdays 🥳

ELECTRIC VEHICLES – WHAT ARE THE FBT INCENTIVES?

From 1 July 2022 employers do not pay FBT on eligible electric cars.

A new initiative of the Labor Government designed to encourage employers & individuals to purchase electric vehicles (EVs) in order to improve environmental outcomes.

The policy introduced a range of tax incentives, the main being a FBT exemption.

For more information on this exemption 👇

https://www.hailstonco.com.au/blog/electric-vehicles-what-are-the-fbt-incentives

A week of birthdays for the H&Co team!

Happy birthday to Rachel, Jerry & Dena - we hope you’ve each enjoyed your special day 🥳🥳

Land tax is an annual tax levied at the end of the calendar year on owners of land.

In NSW, land tax is applied to those who individually or jointly own property in NSW that is not their primary residence and is not specifically exempt.

Not all land owners are required to pay land tax, we have outlined what you need to know here 👇

https://www.hailstonco.com.au/blog/nsw-land-tax-does-it-apply-to-you-and-what-you-need-to-know

We celebrated our belated Christmas party on Friday at - was such a nice day! Thanks for having us 🎄

Family trusts are commonly used to hold assets or operate a family business.

Essentially a family trust (also known as a discretionary trust) is a relationship where a trustee holds property or assets for the benefit of a beneficiary or beneficiaries. It is usually established by a small gift (eg $10), by a person called the settlor. This person is unrelated to the persons who are intended to benefit from the trust.

https://www.hailstonco.com.au/blog/what-is-a-family-trust

💰 7 steps to control short term cash flow 💰

By understanding your short-term cash flow position (45 to 90 days) you can significantly reduce the risk of failure and/or reduce the financial stress on the business.

It is essential for business owner’s to actively manage their cashflow on an ongoing basis. It goes without saying that day to day decision making will be impacted by what cash is available to spend.

https://www.hailstonco.com.au/blog/7-steps-to-control-short-term-cash-flow

The Australian Government Bank Deposit Guarantee 💰💰

Given the current environment, I have been asked frequently of late, ‘is my money safe if the banks tank?’. My usual response is – it simply won’t happen, however in the minuscule chance it does, you will have some level of protection in place.

This protection is direct form the government and is called the Financial Claims Scheme. 👇

https://www.hailstonco.com.au/blog/is-my-money-safe-the-australian-government-bank-deposit-guarantee

Strategic alignment can benefit your company in many ways, and is important to help you keep on track to achieve business success.

Today we remember the fallen soldiers who sacrificed their lives for our freedom, and for this country.

We will remember them ❤

🧮 It's International Accounting Day 🧮

Fun Fact: on this day in 1494 Luca Pacioli 'The Father of Accounting' published the first ever theory of double entry bookkeeping!

Such a a lovely day getting the team together to celebrate Melbourne Cup.

💐 Melbourne Cup 2022 💐

Please note our office will be closed from 11am today.
We will be back on deck for our normal operating hours tomorrow.

Enjoy the race 🐎

The team challenge is still going strong!

While some of us were in holidays chasing wineries - the rest were continuing to chase their goals!

Recap of weeks 4, 5 & 6!!

Only 2 weeks to go 💪

Receiving reviews like this 🥰 - we are so very grateful to be able to work with so many amazing clients each day!

Week 3 recap of the team challenge!

Almost at the half way mark & we're still going strong 💪

Have you applied for your Director ID?

The deadlines are fast approaching;

➡ Directors appointed on or before 31 October 2021 have until 30 November 2022 to apply,

➡ Directors appointed between 1 November 2021 and 4 April 2022 must apply within 28 days of their appointment, and

➡ Directors appointed From 5 April 2022, intending directors must apply before they are appointed.

Meet our newest HCO family member Jessica, who joined the team in August.

Jessica is our client services coordinator and forms part of our admin team.

Next time you call or pop into the office you will be able to put a face to the name!

What you measure in business, matters!

When tracking progress towards a goal, how you measure will hugely impact the insights you draw.

Running a business is not easy, being successful is even harder!

The questions you need to ask yourself are ‘what’ should I be measuring and ‘how’ should I be measuring them in order to determine if your on track or off track.

Have a read below to see some of our quick tips.

https://mailchi.mp/26d7de0e68da/what-you-measure-in-business-matters

Did you know that the Superannuation Guarantee laws changed on 1 July 2022? We have summarised what you need to know below.

➡ Super guarantee rate increase

First of all, the superannuation guarantee rate has increased from 10% to 10.5%.

This will apply to any payments you make to employees from 1 July 2022. Your software should automatically update to the new statutory rate, but there’s no harm in checking to ensure the changes have been effected.

➡ Removal of $450 threshold

The second thing that came into effect on 1 July 2022 is the removal of the $450 threshold for employees to earn super.

From 1 July 2022, this threshold has been removed and any wages paid to employees over 18 will automatically attract super.

➡ Employees Under 18 years of age

For employees under 18 the $450 threshold has also been removed from 1 July 2022. However, they need to have worked at least 30 hours a week to be eligible.

For more information, please feel free to get in touch.

- 8 people take their lives everyday in Australia

- For every death by su***de it's estimated 30 people will attempt to take their life

- 89% of people report knowing someone who has made a su***de attempt

Today is a reminder to ask, not just today but everyday R U OK? Starting a simple conversation could change a life.

As we mark another year of our partnership, I wanted to take a moment to personally say thank you for trusting us with your business. Each and every interaction means so much to me + the wider H + Co team.
It’s our job—and our privilege—to give you everything you need to help you operate and support the growth of your business today and for many years to come.

It’s amazing what we can accomplish together. Over the last year, many challenges were faced - it's an awe-inspiring position that we often see when our clients raise to the challenges faced, and not only grow but thrive during these times.

So thank you for partnering with us, and for everything you do to make our interactions and the wider community interactions fulfilling.

Here’s to another incredible year together. We can’t wait to continue to add more value to you.

❕❕ P.S. We have some exciting news to share with you shortly that we have been working on behind the scenes. This will only go to strengthen our existing client engagement levels ❕❕

All the very best,
Craig