Blog

Welcome to our first e-newsletter

As part of the expansion and growth of Yield Accounting Group, we’re excited to launch our first e-newsletter. We hope you enjoy the new design and the new way of sharing information and news with you.

Our aim is to provide you with interesting articles to help you grow your business, remind you of looming deadlines, introduce innovative computer solutions, whilst informing you about what’s happening in your community and at Yield.

We want this newsletter to be valuable for you so please provide feedback and suggestions to help us improve. If you have a colleague or friend who may benefit from the information in our newsletter please share.

Each newsletter will be emailed to our existing customers, however if you are not an existing customer you can subscribe to our newsletter by providing your email address on the form at the bottom of the page. The newsletter will also form part of our blog on our website and will be posted on our Facebook page.

If you have a Facebook page we encourage you to like us here to ensure you are kept up to date with information and news on a more regular basis, you will also get to see what the Yield team have been up to including the lighter side of your accountant – per the photos below.

      3 Likely Lasses               Busselton weekend – Tennis Tournament                Big Brook Team Building Day

Business Re-organisation

You will no doubt be aware that Hampton Partners Manjimup and Hampton Partners Pemberton have come together to form Yield Accounting Group, with prior owners Steve MacDonald and Derek Brown continuing on as Partners in the new entity along with Lee-Anne Pardini.

The Partners – see profiles here

Yield Accounting Group will continue to operate from both the Manjimup and Pemberton offices, which are both undergoing a face-lift, Pemberton office has been repainted whilst we are in the process of opening up the Bath Street entrance to allow for additional customer car parking bays.

                  Manjimup Office                                                           Pemberton Office

The above changes are more cosmetic than anything else, however there are also some major philosophical changes that are being implemented at Yield, that will impact the way we do business in the future including the nature of the services provided and the type of relationship we have with our customers.

We have a clear vision for the future and have identified the need to embrace technology, adopt social media and e-commerce and to develop a service model that sets us apart from the rest. We are therefore in the process of implementing the following initiatives as a priority :-

• Adoption of cloud technology – we aim to be a 100% cloud based firm within the next 2 years. The benefits of the cloud are significant including centralised data, greater collaboration tools, automation of data (including bank feeds), no program updates or backups required and access anywhere, anytime on any device. We believe that businesses that fail to adopt the cloud will be at a major disadvantage to their competitors in the immediate future.

• Fixed Price Agreements –  “no more surprises at year end”.

Where we can reasonably anticipate the scope of an engagement we will price the job up front and offer you a “Fixed Annual Fee” which may include a range of services to be provided during the course of the year. A typical  service package for example may include the following :-

– Xero subscription costs

– Training & support in the use of Xero

– Monthly review of Xero data

– Preparation of quarterly BAS

– Regular management meetings

– Annual tax planning review

– Annual financial statements & tax return

– Unlimited advice during the year

The fixed annual fee would be paid as a subscription on a monthly or quarterly basis to assist both parties with budgeting and cash-flow planning.

We believe this method is superior than time based billing as it gives certainty to your annual costs and removes  any impediment to seek advice during the year for fear of increased accounting fees. Once the fixed fee is negotiated we can throw away the time sheet and concentrate on providing greater value and service.

• Developing our unique service model – although this may sound like a gimmick we aim to go above and beyond your expectations in providing a fantastic service to your business.

• Paperless Office – As part of becoming a modern accounting firm we have commenced our transition to becoming a paperless office and believe this will be achievable within the next 2 years.

• Last but not least we aim to be recognised as an employer of the highest standard that develops and nurtures local talent to become professionals in the industry, encouraging them to stay in and give back to the local community. We clearly understand that our staff are our greatest asset and recognise that they hold the key to our future.

We look forward to discussing some of these initiatives with you in the near future, however encourage you to contact us in the meantime to answer any questions you may have.

Important Deadlines

Changes to the PAYG Withholding Rates

Employers please note that the PAYG withholding tax tables have changed and the new rates need to be used from 1 October 2016. The 32.5% tax threshold has increased from $80,000 to $87,000 in the withholding schedules. This is a result of the targeted personal income tax relief changes.

You will need to update your payroll software or download a copy of the new tables before paying your employees.

 Changes to Fuel Tax Credit Rates

Please note that fuel tax credit rates increased on 1 July 2016 and again on 1 August 2016.

To help you get your activity statement claim correct, check out the new rates and use the fuel tax credit calculator at www.ato.gov.au/fueltaxcreditrates

Please note that under the ATO simplification rules you are able to use the rate that applies from 1 August 2016 (higher rate) for all eligible fuel purchased during the September 2016 quarter provided your annual fuel tax credits claim is less than $10,000.

Key Dates  

October to December 2016

• 21st October  – September 2016 monthly activity statements
• 28th October – Superannuation Contributions for Quarter 1 2016-17
• 28th October – Quarter 1 2016-17 activity statement (paper lodgement)
• 21st November – October 2016 monthly activity statements
• 25th November – Quarter 1 2016-17 activity statement (if lodged by Tax Agent)
• 21st December – November 2016 monthly activity statements
• 25th December – Santa arrives with all the loot!!

If you need assistance with your BAS lodgements please contact us.

 Staff News

There has been a number of staff changes over the last couple of months, firstly with Rhiannon Raper leaving after 14 years with the firm to pursue her passion to become a librarian.

Rhiannon made a fantastic contribution during her time with the firm and we wish her all the very best with her new career. Of course we couldn’t let Rhiannon go without a farewell gift and a few final laughs – see if you can spot Rhiannon in the photo’s below !

Whilst it was sad to see Rhiannon leave we are excited about the following accountants recently appointed :-

Chris Wright (Senior Accountant)

Chris is a CPA who brings a wealth of public practice experience to Yield having worked in public practice for over 15 years.

Chris was born and bred in the Bridgetown area, however he left the area for 10 years to gain more experience, however missed the country lifestyle and eventually returned to the region.

You can see Chris’s full profile here

Heidi van der Linde (Accountant)

Heidi has recently relocated from the Busselton area where she worked as a tax consultant.

Heidi completed her accounting degree in 2011 and is currently studying to become a CPA, she has experience across various sectors including government, not for profit and the private sector.

You can see Heidi’s full profile here

Peter Smith (Senior Accountant)

Peter qualified as a Chartered Accountant in the UK whilst working in Deloitte’s global audit division. He moved to Australia whist still employed by Deloitte in 2004 before accepting a senior management role with Alinta in 2006.

Several years later Peter discovered the town of Pemberton and moved south to take up a position as Manager of the Pemberton Community Resource Centre, a position which he has held for the last 7 years.

We anticipate that Peter’s strong background in audit will allow him to spearhead Yield’s audit division.

You can see Peter’s full profile here