Clear Vision Accountancy Group

Get the Cash In!   The holiday season is right around the corner, this is a wonderful time for families and for reconnecting with friends. However, for businesses, this period can signal potential cash flow challenges, making it essential to act swiftly! Now is the moment to follow up on those unpaid invoices. It’s crucial to ensure you receive payment before your clients shift their focus to Christmas spending. If payments slip into December, January will present even more obstacles to getting paid. You'll be vying for attention against not just credit card debts, but also the looming school fees. Don’t delay—make invoicing a top priority!

12 Hacks for a Happier You 1. Exercise - Physical activity boosts your endorphins, flooding your body with happiness and helping to lift your mood. 2. Flow through some yoga - Engaging in yoga can alleviate symptoms of depression and anxiety, allowing you to concentrate on your breath and let go of worries. 3. Load up on leafy greens - Dark, leafy greens such as spinach and kale are rich in folate, providing 33% of the recommended daily allowance (RDA). This nutrient is linked to a decrease in negative moods and depression because it helps produce dopamine in the brain. 4. Buy flowers from yourself - Research from Harvard shows that having fresh flowers at home can significantly reduce anxiety and elevate your mood. 5. Smile - While smiling often reflects happiness, studies suggest that it can also trigger joy. Even a forced smile can activate your brain's happiness centres. 6. Open the shades - Opening your shades to let sunlight in can instantly boost your mood, making your space feel brighter and more uplifting. 7. Go Outside - Step into the sunshine for 20 to 25 minutes of sunlight to lighten your mood naturally. 8. Smell the oranges - Citrus scents, such as orange, lemon, and grapefruit bring out positive chemical reactions in your brain as well as work to ease stress. 9. Play with your pet - Interacting with pets can significantly enhance your mood. Just 15 minutes of petting a dog can release serotonin, prolactin, and oxytocin, while lowering cortisol levels. 10. Listen to music - Whether it’s a Favourite tune or a nostalgic song, music can elevate your mood by releasing dopamine and evoking joyful memories. 11. Eat chocolate (yes!) - While you might not need another excuse to eat more chocolate, here’s another: It makes us happier. Chocolate contains tryptophan, which boosts the production of serotonin in the brain, leading to better moods. 12. Make a human connection - put down your smartphone and take a step back from your computer screen. If you want to feel better—and fast—go to a friend or family member for some relief.  We drew inspiration for this article from Health.com

Navigating Success: Your Accountant's Guide to Thrilling Business Planning Imagine you're at the helm of a financial adventure, with your accountant as the navigator guiding you through uncharted waters. Business planning, from our point of view, is like crafting a financial masterpiece where every number tells a story and every strategy is a plot twist. It's like being the Sherlock Holmes of finance, piecing together clues (or in our case, financial data) to uncover the path to profitability and success. We're not just number crunchers; we're the architects of your financial future, designing plans that turn dreams into reality. Think of it as a game of financial chess, where every move is strategic and calculated to ensure your business not only survives but thrives. From budget battles to tax strategies, we've got your back, making sure every decision is a winning one. So, if you're ready to turn your business into a blockbuster success story, buckle up and let's embark on this exciting journey together. With us by your side, business planning isn't just about numbers—it's about creating a roadmap to your ultimate victory! Call us today at Clear Vision Accountancy Group to make an appointment on 4688 2500

Business Planning - The Right Time is Now! When is the right time to take that step? If you aspire for your business to flourish, evolve, enhance profitability, or enrich your lifestyle, the answer is simple: the right time is now! Clear Vision Accountancy Group is deeply dedicated to supporting you with business planning and guidance. All it takes is that initial decision to work with us. Crafting a straightforward yet impactful business plan will keep you on track and reduce stress. We'll collaborate closely with you to create a practical and attainable roadmap, ensuring you'll always feel in control and know what the next step is. For assistance with your business plan; call us on 07 4688 2500; and we will get you on track.

This weekend, Queensland will enjoy a long weekend in celebration of the King’s birthday! While it's not Charles III actual birthday, that’s not until 14 November, every year, this occasion gives us a wonderful opportunity to come together and celebrate the spirit of our monarchy. From festive events to heartfelt tributes, Queenslanders always know how to make this day truly memorable. So, whether you're planning a royal-themed party, attending a local event, or simply enjoying the day with loved ones, let's make today a day filled with joy, unity, and a deep appreciation for our NRL Grand Final!

Introducing myID: A Fresh Name and Look for Your Digital ID myGovID will soon undergo a transformation, including a new name and refreshed appearance. Moving forward, it will be known as myID. Despite these changes, you can continue using it exactly as before. Here’s what you need to know: Your existing details will remain unchanged. There’s no need to create a new myID account, and your login credentials, including your email address, and identity verification level, will remain consistent. The transition to myID will occur seamlessly; your app will either update automatically or can be manually updated via the App Store or Google Play when the new version is available. You will retain uninterrupted access to a wide range of government online services through the app. As we bid farewell to myGovID and embrace myID, the Australian Government commitment remains unwavering in providing you with a secure and flexible means to authenticate your identity online. Remember, your Digital ID is personal and should never be shared with others.   Find out why myGovID is changing to myID https://lnkd.in/g6HXhG-S

Payday Super for employers and employees Starting from 1 July 2026, employers will be required to make Superannuation Guarantee (SG) contributions to employees with every pay cycle, rather than on a quarterly basis. This reform aims to strengthen Australia’s superannuation system by ensuring employees receive their contributions more regularly, which helps mitigate unpaid super issues. Frequent SG payments will enable employees to better track their entitlements while also streamlining payroll management for employers. To facilitate a smooth transition, best practice would be to begin implementing these super changes now. This proactive approach will help businesses adapt to the new requirements ahead of the deadline. Legislative design will progress through the second half of 2024 ahead of draft legislation being released for consultation. This change is part of a larger government initiative focused on improving retirement outcomes and tackling superannuation theft. By starting early, employers can enhance their compliance and support their employees’ financial security more effectively. Example: By switching to payday super, a 25‑year‑old median income earner currently receiving their super quarterly and wages fortnightly could be around $6,000 or 1.5 per cent better off at retirement. 

ATO Crackdown on Landlords The ATO is intensifying its scrutiny of landlords' tax practices, focusing on those who improperly claim rental deductions or reduce their capital gains liability by inflating expenses. To achieve this, the ATO will broaden its data matching efforts, requiring property management software companies to provide approximately 2.3 million user records spanning from 2018–19 to 2025–26, as detailed in a recent government gazette notice. This data will be utilised to enhance compliance measures, refine risk assessments, and offer educational resources to taxpayers. “The Australian Taxation Office will acquire property management data from property management software companies,” it said. The ATO will concentrate on landlords who fail to file their tax returns and rental property schedules on time, as well as those who “omit or incorrectly report income and deductions in their rental property schedules and associated income tax return labels”, it said. Another issue targeted was omitted or incorrect reporting of CGT. “Taxpayers with a rental property may omit or incorrectly report cost base elements which are used to determine the net capital gain or loss on a rental property used to generate income,” it said. For the full article visit: Millions of landlords the target of expanded ATO crackdown | Accountants Daily We drew inspiration for this article from Christine Chen at Accountants Daily

Banking Password Changes = Xero Bank Feed Updates   Westpac has invested approximately $100 million in the past two years on measures to prevent scams, resulting in a significant reduction of over 30% in customer scam losses annually. As part of these initiatives, Westpac has recently revised their password criteria, necessitating customers to update their passwords. Regrettably, this adjustment has resulted in disruptions to data feeds into Xero. No matter who you bank with, if you have recently updated your password for scam prevention or due to simply forgetting it, you will need to update your Xero data feed. To update your Xero bank feed follow the simple steps below: If you encounter any issues or need assistance, please don't hesitate to contact us on 4688 2500. Update your details 1. In the Accounting menu, select Bank accounts. 2. On the account you want to update the login details for, click Manage Account, then select Update Feed Login. 3. Update your login details, read and agree to the Automatic Bank Feeds Terms & Conditions (xero.com), then click Update. You'll receive a new notification once you've updated your feed login details. If you have other feeds for different bank accounts that use the same login details, these will also be updated. After you've updated your login details and your feed has started again, refresh your feed to make sure all the available transactions have imported.

Fair Work Act Changes - part of the new ‘Closing Loopholes’ laws Have you caught up on the recent changes to the Fair Work Act that took effect last month? It is important to familiarise yourself with these updates to ensure your business avoids unnecessary risks of non-compliance, especially concerning: - Independent Contractor Changes - Casual Employment Changes - Right to Disconnect To understand these changes further visit: Closing Loopholes - Fair Work Ombudsman