It’s that time of year when many businesses close or scale down to minimum staff over the festive season giving business owners and staff a well-deserved break.
If your business is closing over this period, before you ‘switch off’ and unwind, it’s worth looking beyond the festive season to check that you have plans in place to address a few key due dates that will come around quickly once the doors re-open:
From a cashflow perspective it’s also worth noting that the ATO’s small business superannuation clearing house is closing down early for Christmas from 15 December 2021. It has advised any contributions received after 15 December will not be processed until 4 January. Therefore, any small business using this service should consider delaying processing December superannuation contributions until January to leave the cashflow in their bank account rather than the ATO’s.
Your new year resolutions should not only be a personal matter but a business one too. While your new year activities and results are top of mind, make a record of what worked well, what didn’t and what could be improved, including new ideas worth exploring in the new year. Having this record to refer to will give you some momentum when you begin your 2022 planning process.
If you end up having some spare time on your hands in the final days of the year it’s a great idea to draft some new business goals, update your business plan and re-forecast your budget to set your business up for a successful 2022. If you would like some assistance with any of the above, please contact your usual Mazars advisor or alternatively:
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