November at Plus 1

December Due Dates:

7^th – lodge and pay November 2018 monthly payroll tax
21^st – lodge and pay November 2018 monthly business activity statement

Plus 1 Group – Christmas Closure Dates

From the team at Plus 1 Group, we would like to wish all our clients a happy holiday and best wishes for a new year filled with good health, happiness and success. We would like to thank you for your ongoing support in 2018, and we look forward to working with you in the New Year.

Our office will be closed from 5pm Thursday 20th December, and will reopen at 8am on Monday the 7th January.

On Farm Infrastructure Grant

A grant of up to $5,000 is available per farm business to assist farmers to make on farm infrastructure improvements to help with the management of drought or enhance the longer-term viability of the farm. Eligible businesses will be required to provide dollar for dollar co-contribution.
Examples of eligible improvements include –

• Construction or upgrade of stock containment areas i.e. fencing/gates
• Reticulated water systems using pumps, piping, tanks and troughs for livestock
• Irrigation system upgrades
• Permanent repairs to fixed infrastructure i.e. irrigation pumps, repairs to piping, replace troughs, upgrade tanks
• Improved water infrastructure for stock management i.e. consolidating/enlarging farm dams
• Farm development to improve drought management efficiencies to farm production systems i.e. soil moisture monitoring, weather stations, telemetry sensor equipment
• Grain and fodder storage i.e. silos, silage bunkers, hay sheds
• Internal re-fencing to better match property layout with land capacity
• Fencing for the exclusion of wildlife to protect and manage crops and pastures
• Addition of shelter belts for shade and associated fencing
• Upgrading of areas to deliver to deliver better productivity and profitability i.e. laneway upgrades
• Feeding system upgrades i.e. feed pads or feed troughs
• Adoption of precision farming techniques i.e. auto-steer tramlining, yield mapping and weed-seeker technology

To be eligible you are required to –

• Own, share or lease a farm business located in the following shires (Wellington, East Gippsland, Swan Hill, Gannawarra, Loddon, Campaspe, Greater Bendigo, Greater Shepparton, Moira, Strathbogie, Benalla, Wangaratta, Wodonga, Indigo, Alpine, Towong, Mildura, Hindmarsh, Yarriambiack, Buloke, Horsham or Northern Grampians)
• Be registered as a primary producer with the ATO and have an ABN and be registered for GST
• Have a right or interest in the land for the purpose of primary production
• Contribute more than 51% of his/her labour to the farming enterprise
• Derive 51% of gross annual income from the farm business OR made a minimum farm related capital investment of $50,000 (excluding land) in the farm business
• As a guide farm turnover would exceed $50,000 per year under normal business conditions

For further information or assistance with applications, please contact our office.

Financial Planning Seminars

“I should have done this in my 20s”

“Great event, well worth your time”

“An excellent overview of financial investments. Explains wealth management concepts in practical terms”

The Plus 1 Wealth Advisors team held two Free Educational Wealth Creation Seminars during November in Shepparton and Albury. Aimed at people of all ages, these events aim to educate in all areas of financial planning in a relatable and useful manner. 
Presenting to some familiar and new faces, the team discussed a number of topics including managed investments, investment properties, gearing, superannuation and debt reduction to name a few.
In case you missed out, you can register on our website for any upcoming seminars in your area – https://plus1group.wpengine.com/seminar_signup/
 
The team hopes to see you soon!

Xero’s New Navigation

You may have heard that from the end of November, Xero will be improving the Xero navigation bar so we can all easily find the tools and information we use most often. The improvements are based on research and testing with hundreds of people, including accountants, bookkeepers, current small business users, and some users brand new to Xero. The new intuitive labels will make more sense to everyone – beginners and experts alike.

Scam Warning Update

Yet another scam is doing the rounds reportedly being a contact from the ATO.
Below is an example of a message received.

It is important that you know the status of your tax affairs. If you are aware of the details of debts owed, refunds due and lodgements outstanding, you are less likely to fall victim to a scam.
If you receive a message like the above, contact your accountant to confirm before you take ANY action.
How to identify a scam:

• The ATO would not send a message or email asking you to add in your personal details
• The ATO never requests payments by unusual methods such as Western Union, PayPal, iTunes vouchers or other gift cards.
• If you are due a refund or overpaid the ATO would contact your tax agent re this not you directly.
• Check where the email has come from – is it your accountant?
• If you received a refund the prior year – why would they need your details?

You can also get further information from the ATO by clicking on this link https://www.ato.gov.au/General/Online-services/Identity-security/Verify-or-report-a-scam/

EMMA’S FINANCIAL PLANNING QUOTE OF THE DAY

With Christmas just around the corner, it can be easy to over spend and throw your good financial habits out the window. Keep track of what your spending and don’t go beyond your limits.

Looking for financial advice? Contact Emma for your FREE Financial Planning consultation on (03) 5833 3000.

PLUS 1 – PROUDLY SUPPORTING

If you have any sponsorship queries contact us at hr@plus1group.com.au 

Disclaimer: The advice provided is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.