It’s coming up to the end of the financial year, and we all know what that means… tax time.
For anyone who has heard me speak at a League event, you’ll know I often talk about having the financial side of your business in order and up to date as regularly as possible, enabling you to plan for the year ahead, instead of trying to deal with it all when it’s too late.
Well, now is that time! With just over a month to go until 30 June it’s time to start getting things sorted, and, for any small business out there, with a turnover of less than $50,000, this financial year is your last chance to access the Entrepreneurs Tax Offset (ETO).
This ETO means a 25% discount in tax payable for any business with a revenue of less than $50,000. However, it will not be available in future years.
So, what should you do from here?
1. Get your accounts in order so you can see what your revenue is, up to now.
2. If you’re close to the threshold, consider invoicing some of your clients after 30 June.
3. Speak to your accountant about your eligibility for the ETO.
Article by Sarah Riegelhuth, co-founder of Wealth Enhancers.
Please note: this is general advice only, and we strongly recommend you seek professional advice, relevant to your circumstances, before making any financial decisions.
As members of The League we all aim for the stars, in our own businesses and lives, through following our passion and committing to our goals.
Last month when we announced our hunt for a female-focused charity to align ourselves with, we received a nomination for Layne Beachley’s foundation, Aim for the Stars… after checking out the website and chatting with the team, we just knew we had a winner.
Aim for the Stars was established to ’empower and enable individuals to take charge of their lives,
to invest in the future and fulfill their potential’. The foundation provides grants to girls and women who reach out for help, in order to achieve their own big goals. We could not have asked for a more perfect alignment!
We are pleased to announce today that we have formed an official partnership with Aim for the Stars and will be exclusively supporting them, by funding grants from our profits on an ongoing basis. To celebrate the beginning of an exciting union, we will be contributing $5 from each ticket sold for our upcoming Miss Representation screening, on June 22nd in Melbourne.
PS. Massive happy birthday to Layne Beachley for yesterday, from all of us at The League! xoxo
We are pleased to announce Samantha Gash as our National League Crusader! Samantha has been involved with The League since our very first event in Melbourne, and will now be heading up our National League Crusader Program.
Nominations are now open for Crusaders in Victoria, New South Wales and Queensland, with other Australians states to be launched in 2013.
The League Crusaders will play an integral role in the growth and development of our movement throughout the future. For a one year period, they will be our people on the ground as we run events, commence our breakfast series and field media enquires. They will provide regular blog posts for our site and have the opportunity to speak at events in their state. So… what are you waiting for, nominate yourself, or someone amazing today!
Nominations close: Midnight, 30th June 2012
Finalists announced: Monday, 2nd July 2012
Winner announced: Thursday, 12th July 2012
We are so excited to announce the upcoming screening of the award winning documentary Miss Representation.
Miss Representation explores how the media’s misrepresentations of women have led to the underrepresentation of women in positions of power and influence.
The screening will be followed by a dynamic panel discussion, drinks and nibbles.
As always, our fabulous gift bags will be available for all who attend.
We are pleased to announce the launch of our charity partnership with Aim for The Stars, and will be donating $5 of every ticket purchased.
The event will be hosted by the delightful Bree Laughlin, the Face of Caulfield, and we have put together an exciting panel to discuss Miss Representation following the screening. Our panelists:
Kerry Chikarovski – Board Member, Consultant, Former Politician
One of the country’s most recognised, former female politicians, Kerry Chikarovski began her career as a solicitor before making the decision to enter parliament. Her political journey saw her appointed as the first Minister for the Status of Women in NSW, and ultimately go on to be elected Leader of the NSW Parliamentary Liberal Party, the first woman to lead a major political party in NSW.
After retiring from politics, Kerry established her own consultancy business, Chikarovski & Associates, and in 2004 she co-authored her autobiography, “Chika” which has been described as a compellingly honest description of her personal and political life.
Isabelle Oderberg – Social Media Editor, Herald Sun
After growing up in Hong Kong, Isabelle Oderberg started her career in Melbourne briefly before moving to London and working in the financial trade press, then for Reuters and Dow Jones. She moved back to Australia in 2006 and was the mining writer for AAP before becoming the founding news editor at Business Spectator, then interviews editor and China commentator. She joined the Herald Sun in 2009 and was the deputy business editor before becoming Australia’s first social media editor.
Elise Swallow – Business Owner, Learning Fundamentals
One of Australia’s leading speech pathologists, specialising in children with learning disabilities, Elise is the founder of The Voice Within and works alongside Jacinta McMahon at Learning Fundamentals. Elise is also a footballer’s wife, married to Andrew Swallow, captain of North Melbourne. Seeking self-employment as a graduate, Elise has paved her own pathway, developing her own prominent career in which she has achieved succes in her own right, however this is often overshadowed by the societal stigma of being married to a high-profile footballer.
When: Friday 22 June 2012 6.30pm-9.30pm
Early Bird Ticket (pre 8 June) – $35.00
Regular Ticket – $45.00
5 Pack – $175.00
We’re on the hunt! The League of Extraordinary Women are looking for a charity to partner with! We are looking to support an Australian focused charity that provides opportunities and encourages the development of under-privileged young females.
You are all extraordinary, and will be part of helping us do this for years to come, so please send through your suggestions for consideration.
We will be reviewing all suggestions, and creating a short list. We will then be meeting with the short listed charities and determining the organisation that best aligns with our values.
Sheryl, Sarah, Liz & Marie. xoxo
This morning, at our Melbourne breakfast, I shared some tips on managing your business finances better and ensuring you keep the backbone of the business in order. As promised, I have provided some links below to some of the things I mentioned that may be useful to your business:
Xero – online accounting software that will datafeed you bank transaction and is super easy to use.
Sassu – another online accounting package
inDinero – online tool, including datafeeds, to help you manage your business money (think cash flow)
Stanford Podcasts – invaluable entrepreneurial podcasts, start listening asap!
Remember, you only need to run out of money once, and you’re out of business. The earlier you can get started on managing and organising the finances, the easier it will become and the more informed you’ll be as a business owner.
PS. Don’t forget to put the next breakfast in your diary now! See you on the 22nd May.