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Author: Harris Black

Harris Black Business Leaders Forum – August 2023

by Harris Black

We’re excited to invite you to our next HB Business Leaders Forum on 24 August 2023 focusing on “Implementation Mastery: Driving Efficiency and Change Successfully in your Business”.  For more information on this workshop and to purchase your ticket please click the button below.

In our recent workshop for the Harris Black Business Leaders Forum, we looked at “Maximizing Leadership Performance: Coaching for Success”.  

We covered off the major themes of: What critical business and leadership trends do you need to embrace for higher performance in 2023? What strategies will you implement to successfully navigate continued market turbulence?   

The workshop focused on leadership success and provided valuable insights and updates from experienced business owners/leaders. Participants learned about the latest strategies for harnessing the power of Artificial Intelligence (AI) as a leader, identifying and enhancing their leadership style, handling difficult conversations, and driving greater productivity in teams. The workshop also covered effective approaches for attracting and retaining top talent in their organization.

All the insights were then drawn on for the final session where attendees’ problem solved key leadership challenges or opportunities each were facing for 2023. All up a fantastic session which all valued.

New Financial Year Housekeeping

by Harris Black

With the end of the financial year complete please note the following essential financial housekeeping actions affecting you and your business.

  • Before rolling-over your accounting software ensure your Single touch payroll (STP) finalisation declaration for 2022-23 is correct and has been submitted to the ATO.
  • STP finalisation declarations need to be made (extensions can apply for closely held employees) on or before 14 July 2023.
  • Include Reportable Fringe Benefits Amounts (RFBA) for employees of more than $2,000 in STP finalisation.
  • Employees will be able to access their Income Statement through their MyGov Account after STP finalisation completed.
  • The Superannuation Guarantee (SG) rate increased on 1 July 2023 from 10.5% to 11%. Please ensure to review your payroll software to confirm this change has taken effect.
  • Quarterly (1 April – 30 June) super guarantee payment due on or before 28 July 2023. Most superannuation clearing houses recommend submitting quarterly super payments at least 1 week prior to the due date to allow sufficient processing time.
  • Taxable payments annual reports (TPAR) for payments to contractors due on or before 28 August 2023. Have you correctly classified your employee or contractor employment relationship. What are your PAYGW withholding, superannuation guarantee, payroll tax and workers compensation obligations?
  • The Annual Payroll Tax Return/Reconciliation must be lodged by 28 July 2023 (NSW) and 21 July 2023 (QLD, VIC, NT, WA, Tasmania).
  • Should you have any areas of concern or you need clarification on any issues please do not hesitate to call our office.

Important Tax Dates

by Harris Black

14 August 2023

  • Lodge PAYG Withholding payment summary annual report for:
    – Large withholders whose annual withholding is greater than $1 million
    – Payers who have no tax agent or BAS agent involved in preparing the eport

21 August 2023

  • Lodge and pay July 2023 monthly business activity statement

25 August 2023

  • Lodge and pay quarter 4, 2022-23 activity statement if you lodge electronic

28 August 2023

  • Lodge and pay quarter 4, 2022-23 Superannuation guarantee charge statement if the employer did not pay enough contributions on time. 

Your One Page Plan

by Harris Black
By Renee Bettenay

The new financial year is upon us, 2023-2024 is a great time for business owners to take a step back and think about what they can do to improve on previous years.

The beginning of the financial year offers a sense of renewal, a chance to take time and hopefully perform better going forward, both personally and in business. Even if you are satisfied with your business’s performance, it is no excuse to sit back and leave things to be done how they were before. There is always room for improvements in every business, so with that in mind watch our video below on how you might use a”One Page Plan” to gain business momentum in making improvements for the year.

Personal Resilience Diagnostic

by Harris Black

Having good personal resilience is about how well you bounce back from adversity in your personal or business life. How can you improve your own levels of resilience?

Complete these 25 questions (it should only take you 5 minutes) to identify from 10 factors the top 3 areas that are working well and top 3 areas you need to work on to improve your level of personal resilience. You will also have the ability to see how you compare to the global benchmark (average scores of all completed diagnostics) on each of the 10 factors. If completing on your mobile phone ensure it is held landscape for ease of use.

HB Tech Space: Deputy – Empowering Businesses with Streamlined Workforce Management

by Harris Black

Are you tired of the manual administrative tasks that bog down your business operations? We understand the strains that come with managing schedules, tracking employee hours, and handling payroll and accounting manually. But fear not, as we have an exciting solution that can alleviate these strains and streamline your processes: Deputy, a leading workforce management software.

Deputy, offers a comprehensive solution to simplify employee scheduling, time-tracking, leave management, and communication. By integrating with Xero, Deputy takes your business efficiency to a whole new level.

Let’s delve into the details of how the Deputy can transform your business operations:

Simplified Scheduling: Create, modify, and share schedules with ease, while the integration ensures your employee data remains up to date in both systems.

Accurate Time Tracking: Track employee hours effortlessly, eliminating manual data entry and ensuring precise payroll information.

Streamlined Leave Management: Automate leave calculations and approvals, while maintaining compliance with employment regulations.

Seamless Payroll Integration: Transfer employee data seamlessly from Deputy to Xero, reducing errors and saving you valuable time during payroll processing.

Award Interpretation: Simplify compliance with modern awards and help protect your business.

New Hire Onboarding: Manage your onboarding process within Deputy, without any paperwork.

Actionable Insights: Combine Deputy’s reporting capabilities with Xero’s accounting features to gain valuable insights into your labour costs and make informed decisions.

To learn more about this software, visit Deputy’s website, where you’ll find detailed information on features, pricing, and customer testimonials.

How can we help you?

Today’s financial environment demands a regular review of strategy and a focus on execution.

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