YOUR QUARTERLY SOURCE FOR BUSINESS ADVICE AND INFORMATION Brought to you by GTC Financial
Q2 | October - December 2013
A MESSAGE FROM NEVILLE HUGHES INSIDE >> AS WE REACH THE LAST QUARTER OF THIS CALENDAR YEAR, WE THOUGHT WE SHOULD GIVE YOU AN UPDATE ON WHAT GTC FINANCIAL HAS BEEN UP TO. A major achievement for GTC Financial Services is that we achieved Financial Planning Association (FPA) Professional Practice Accreditation. This symbol of professional financial planning in our community recognizes that the advice we provide to our clients is of the highest professional standards approved by the FPA of Australia. We have been a member of the Gladstone Engineering Alliance (GEA) for some time and being part of GEA makes us more aware of the challenges and opportunities that our local workers, business and families face. This year we are a proud sponsor of the GEA – Golding Industry Conference. This conference is being held on the 23rd and 24th of October at CQ University, so please make sure to pop in to our booth to say hello! We have set out sights set high and set ourselves a “Big Hairy Audacious Goal”. This goal is to assist 500 of our clients to become
financially independent. One way of helping Small and Medium Business owners achieve financial independence is to help them access a Federal Government initiative called Enterprise Connect. There is a range Business Improvement Services available and with the government paying for half the cost it’s worth reading article in this newsletter for more details. I hope you enjoy the newsletter. We look forward to your feedback and ideas for future editions. Please email us at: marketing@ gtcfin.com.au. Cheers
Neville Hughes CPA Director
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GTC FINANCIAL SERVICES
FPA PROFESSIONAL PRACTICE ACCREDITATION
GOVERNMENT FUNDING FOR SMALL BUSINESSES
Proud sponsors of the.... ‘GEA/Golding 2013 Major Industry Conference’
BUSINESS FINANCIAL CARE AT GTC, OUR AIM IS TO PROVIDE YOU WITH ADVICE WHEN YOUR BUSINESS NEEDS IT - NOT JUST WHEN YOU ASK FOR IT. WE ACHIEVE THIS BY MEETING WITH YOU REGULARLY TO FIND OUT HOW YOUR BUSINESS IS PERFORMING AND WHAT ISSUES YOU MAY NEED HELP WITH. WE PROVIDE A COMPREHENSIVE RANGE OF BUSINESS ADVISING AND ACCOUNTING SERVICES EITHER DIRECTLY WITH YOU OR VIA A TRUSTED SPECIALIST ADVISOR. OUR ADVICE IS ALWAYS TAILORED TO YOUR NEEDS. BUSINESS ESSENTIALS ...YOUR PEACE OF MIND We help you achieve the peace of mind you deserve by taking care of all those necessary but painful tasks that every business must attend to. The areas we can assist you with are Bookkeeping, Accounting Software, preparing your BAS and Tax Return as well as attending to any Company Secretarial requirements. We also help you with other essential but often overlooked areas like Tax Planning and Audit Insurance. We make sure everything is correct, lodged on time and that you don’t receive any unexpected surprises. This allows you to focus on what you do best – running your business. Now that’s peace of mind!
SPECIALIST BUSINESS ADVICE ... YOUR TRUSTED ADVISOR Our goal is to help our clients become financially independent. Many small and medium business owners (SMEs) are relying on the sale of their business to fund their retirement. GTC Financial we can help you to understand the value of your business and determine if the sale of your business will be enough to make you financially independent. We can work with you to prepare a business plan that achieves the goals that you want to, both business and personal. This ensures that the business is working for you rather than the other way round. GTC can also advise you in a range of other areas such as how best to structure your business to legally minimise tax and protect your assets. We can help you with succession planning, bringing on new partners as well as exiting your business without losing a lot in tax. Through our network of trusted advisors we are able to seek specialist advice on how best to deal with complex transactions. Everything you’d expect from your trusted advisor.
CHIEF FINANCIAL OFFICER ... YOUR EXPERT ANALYST Every business that is looking to grow needs a Chief Financial Officer (CFO). We can act as Your CFO to implement sound financial disciplines such as streamlined financial processes and systems, Key Performance Indicators (KPIs), budgeting, management reporting, strategic planning, as well
as attending to your regular compliance requirements. Your business is unique which is why we don’t provide out-of-the- box CFO services, instead we tailor a specific program to suit your business’ needs and its short and long-term objectives. How much better would your business run with Your Own CFO?
INDUSTRY SPECIALISATION ... YOUR MARKET SPECIALIST GTC Financial has become accredited with a global, independent, professional adviser network called BStar. This gives us access to research and other resources for SMEs. We have also undertaken additional training in the following industries, Engineering, Pharmacy and Legal.
Proud sponsors of the.... ‘GEA/Golding 2013 Major Industry Conference’
PERSONAL FINANCIAL CARE GTC FINANCIAL SERVICES PTY LTD IS ALSO PROUD TO BE A “PROFESSIONAL PRACTICE OF THE FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA” (MORE COMMONLY KNOW AS AN “FPA PROFESSIONAL PRACTICE”). FOR YOU AS A CLIENT THIS ENSURES THE SERVICES WE PROVIDE ARE OF THE HIGHEST STANDARD. IN ADDITION TO COMPLYING WITH ALL LEGAL REQUIREMENTS WE MUST ALSO COMPLY WITH THE FPA’S CODE OF ETHICS, FPA’S PRACTICE STANDARDS AND THE FPA’S RULES OF PROFESSIONAL CONDUCT. WE DEVELOP STRATEGIES TO ASSIST YOU MANAGE YOUR FINANCIAL AFFAIRS SO THAT YOU CAN ACHIEVE FINANCIAL INDEPENDENCE. SELF MANAGED SUPER FUNDS Some people are far more comfortable being in control of own destiny. Rather than making superannuation contributions to organisations over which they have no control, they prefer to operate their own Self Managed Superannuation Fund (SMSF). Self Managed Superannuation Funds is an area that GTC Financial Services specialises in, which means we understand the complexities and the legal requirements. Because GTC Financial is also an Accounting Firm we can handle the fund administration, prepare the financial statements and lodge the funds tax returns to keep it compliant. This fits with our goal of delivering Total Financial Care.
BUSINESS OWNERS GTC Financial understands your business and we also appreciate the risks that could destroy it. We help you to put strategies into place to mitigate these risks. We also understand how challenging it can be to balance the cash flow needs of the business and to invest outside of the business. Our
accounting and financial planning teams of GTC work as one to achieve the best outcome for you.
PROGRESSIVE INVESTORS You’ve worked hard to get what you have, have some equity in your home; now you want to take control and set you and your family up for the future. You also have some dreams, you just don’t how or if you can achieve them all. GTC Financial Services has a system called CALMS (Cash flow, Asset, Liability, Management System) that takes your dreams and turns them into a holistic plan for the future. It covers everything; debt reduction, protecting you and your family and accumulating assets so that you are financially independent in retirement. Furthermore we don’t just set & forget, we meet with you twice a year to make sure your plan stays on track because we appreciate that things change.
FINANCIALLY INDEPENDENT RETIREES You have built up your nest egg and now have the time to enjoy life. GTC Financial Services is focused on helping you achieve your goals. We understand that Retirement Planning is more than investing and that is why we take the time to understand what it is you are trying to achieve. Your individual Retirement Plan is then developed to achieve those goals. GTC Financial Services Pty Ltd is a Corporate Authorised Representative No 314227 of Futuro Financial Services Pty Ltd ABN 30 085 870 015 Australian Financial Services Licence No.238478.
GTC becomes the ONE and ONLY FPA PROFESSIONAL PRACTICE IN THE GLADSTONE REGION GTC Financial Services of Gladstone has been accredited as a Professional Practice of the Financial Planning Association in recognition of the business’ high professional and ethical standards. The Financial Planning Association (FPA) is Australia’s peak professional body for financial planners. Its Professional Practice accreditation recognises practices of the highest calibre in their local community. Financial planning businesses are invited to apply for FPA Professional Practice status, and to qualify, they need to undergo a rigorous screening process. Businesses accredited as FPA Professional Practices then must agree to a 3-year review of their business to maintain their status.
WHAT IT MEANS FOR YOU
employer of choice for financial planners.”
You can expect our financial planners to have years of experience and training recognised by the FPA under their belt.
FPA CEO Mark Rantall said: “The Professional Practice designation recognises quality financial planning practices that are providing the highest quality financial advice in their community.”
Our professional financial planners can thoroughly consider your circumstances, and then develop strategies to help you reach you goals. Neville Hughes of GTC Financial services said: “As an FPA Professional Practice, we are delighted to be able to show both existing and potential clients that they are dealing with a financial planning business of the highest professional standing.” “We have been part of the Gladstone Region for 16 years and are the only FPA Professional Practice in this region. We see our FPA Professional Practice accreditation as also helping us to stand out as an
“With only two in five Australians seeking financial advice, we are working hard to address this gap in by increasing consumer trust in financial planning. Consumers don’t know where to turn for advice they can rely on. If they look for an FPA Professional Practice, this is a perfect place to start.”
available for small businesses... DO YOU WANT TO IMPROVE YOUR BUSINESS BUT NOT SURE WHERE TO START? MAYBE YOU NEED SOME HELP BUT ARE CONCERNED ABOUT THE COST. GTC FINANCIAL CAN HELP YOU ACCESS “BUSINESS IMPROVEMENT SERVICES” AND HAVE THE FEDERAL GOVERNMENT FUND HALF THE COST. CALL US NOW FOR AN OBLIGATION FREE APPOINTMENT TO CHECK YOUR ELIGIBILITY. ENTERPRISE CONNECT helps businesses set the right course for the long haul. Owners of family run business, Townsville Transport Services, found themselves exhausted and not reaping the benefits of their efforts. They turned to Enterprise Connect for independent advice on how they could develop a strategy to provide growth, sustainable profits and cash flow. Enterprise Connect’s Business Review helped provide clarity and a way forward for the business and they were able to find the right structure, implement a succession plan, and overhaul their systems including sales and marketing strategies and technology platforms. The Business Review also identified other areas of the business that could be improved to reduce costs, provide better management information and reduce risk.
Townsville Transport Services is one of over 21,000 businesses around Australia that has benefited from Enterprise Connect’s services. The comprehensive, confidential and independent Business Review is carried out on-site and is delivered at no charge. Conducted by Business Advisers with extensive private sector experience, the Business Review involves a top-to-bottom analysis of your business. Following the Business Review, Tailored Advisory Service funding of up to $20,000 may be available to assist you to engage a consultant to help implement recommendations flowing from the Business Review. Business Adviser, Andrew Harvey works with businesses in and around Gladstone, helping them become more productive, competitive and reach their
growth potential. Engaged by the Industry Capability Network, Andrew has the tools, resources and connections to make a real difference to businesses in the region. The Industry Capability Network assists Enterprise Connect in the delivery of Business Review services through the engagement of Business Advisers, through a formal partner organisation agreement, in Queensland and Victoria. Andrew draws on broad experience in strategic planning, team development, continuous improvement project management, business intelligence, customer relationship management systems and business intelligence to help make businesses better. “I understand the challenges facing regional business and really enjoy helping them grow and take their business to the next level,” Andrew said.
For more information about Enterprise Connect and you eligibility for government funding options you can contact us on email@example.com or 07 4972 5177.
KEY DATES FOR OCT-DEC 2013 28 OCT
Activity statements Final date to lodge quarter 1 (July - September 2013) activity statements
Superannuation Superannuation guarantee contributions for quarter 1, 2012-13 (1 July - 30 Sept) to be made to the fund by this date
Income Tax Due date for lodgement of 2012/13 returns by individuals, trusts and partnerships. Special extension arrangements apply to returns for individuals, trusts and partnerships lodged by tax agents
Superannuation Due date for lodgement of superannuation guarantee statement and payment of superannuation guarantee charge for July to September 2013 quarter
Income Tax Income tax payment due date for companies and superannuation funds that were taxable large or medium business clients in the previous year. Income tax payment due date for companies and superannuation funds that were required to lodge by 31 October 2012
The above dates are a summary only, for the full list of deadlines and other important dates please refer to our website under Resources Tab or use the following link - www.gtcfinancial.com.au/resources/key_dates
About GTC Financial ... Total Financial Care At GTC Financial we are passionate about small and medium businesses, their owners and individuals who aspire to improve their current situation. We assist you at every stage of your life, business or personal. We work with you to develop innovative and dynamic solutions providing clear direction, education and ongoing support, keeping you on track. As your trusted adviser we deliver total financial care so that you can achieve peace of mind and financial independence. GTC Financial is a Gladstone based firm of Certified Practising Accountants and Certified Financial Planners that provide a comprehensive range of accounting, taxation, business advisory services and financial planning services to private businesses and their owners having clientele base in Central Queensland. We also provide a wide range of financial advice to individuals and families. Whatever level of service you require, GTC Financial is well equipped to offer a solution from start up phase, planning for growth through to exiting the business and planning for retirement. We can tailor our services to suit your needs and are proactive as well as being easy to deal with. Our clients tell us that they appreciate how accessible we are and the level of face to face contact they enjoy with us. We have also developed close associations with a range of specialist advisors who can give timely advice to achieve the best possible outcomes for clients when dealing with large or complex transactions. GTC Financial Services Pty Ltd is a Corporate Authorised Representative No 314227 of Futuro Financial Services Pty Ltd ABN 30 085 870 015 Australian Financial Services Licence No.238478
07 4972 5177 firstname.lastname@example.org www.gtcfinancial.com.au
Your Quarterly source of business advice and information