O'Connells OBM | Business service

O'Connells OBM

Phone: +61 7 3233 6400

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25.01.2022 Friday Fun-day! Which animal are you? We conducted a fun internal team building activity at our recent High Involvement Planning Session where we surveyed our team member's personality types using the AusIdentities profiling quiz (https://ausidentities.com.au/). An Australian alternative to systems such as Myers-Briggs, HBDI and DISC, the quiz profiles people as Eagles, Dolphins, Wombats, or Kangaroos. Each animal type has a series of unique traits and contributes differentl...y to team environments. It also provides you with a summary of your traits and your Meyers Briggs Indicators. You can take the quiz here - https://ausidentities.com.au/quizzes/adult/ We arranged for an external facilitator, Paul Chen, to assist us in bringing our animal totems to life. It was a great team building activity that provided unique insights & reminders about how we can all work best together. We’d highly recommend Paul as a facilitator to assist you in running your own session with your team, you can connect with Paul here: https://www.linkedin.com/in/paulchen1/ Paul is able to run meetings/facilitate sessions on other topics E.g. skills in management people, performance and leadership. If you do take the quiz let us know how you find it, and feel free to share your animal totem with us too!

22.01.2022 Haven't gotten around to signing your EPOA paperwork? From 30 November 2020, the Queensland government is introducing a new Enduring Power of Attorney (EPOA) form. There is no changeover period, so if you have not signed your existing Enduring Power of Attorney documentation, you must do so by 29 November 2020 or you will need to have new forms completed at your own cost. If you don’t have an EPOA in place, or it’s been a while since you reviewed your estate plan more broadly, we can assist you. Please contact us to discuss your personal situation - https://oconnellsobm.com.au/contact-us/

22.01.2022 Are you thinking of making a voluntary repayment to pay off your HECS/HELP debt? If you plan to pay off your TOTAL loan balance with a voluntary repayment, it's best to make your repayment BEFORE you lodge your tax return, otherwise a compulsory repayment or overseas levy may be included on your notice of assessment. You may also benefit if you make a voluntary repayment before indexation is applied on 1 June. Also make sure the payment is made a few weeks before the return i...s lodged so that the payment has time to be applied to the loan account. If you're thinking of making a voluntary payment and wondering what that could mean for your personal situation, feel free to contact us. More information can be found on the Tax Office website here - https://www.ato.gov.au//Study-and-tr/Voluntary-repayments/

20.01.2022 Have you met Marie? Client manager Marie completed a Commerce degree at UQ majoring in Accounting and Finance. After trying her hand at research and completing summer work experience at another firm she decided to pursue a career as a Chartered Accountant, joining the team in January 2011. Marie’s favourite aspects of her job at O’Connells are problem solving for clients and working with a great team of talented individuals. You can connect with Marie on LinkedIn here - https://www.linkedin.com//marie-booker-nee-olesen-7522271/

20.01.2022 Have you met Chris? Our Fringe Benefits Tax Specialist, Chris enjoys working with clients to achieve their goals and objectives. Chris has particular interests in tax minimisation, budgeting, retirement planning, superannuation, planning today for the future, and regularly reviewing his client’s plans to ensure we are working towards achieving their goals. Chris also works closely with our primary production clients across Queensland and is particularly passionate about supporting farming families in effectively managing their farming succession plans. You can connect with Chris on LinkedIn here - https://www.linkedin.com/in/chris-osborne-32a40379/

19.01.2022 The end of the FBT tax year is approaching (31 March) - do you need to submit an odometer reading declaration? Find out more, access our smart form, or download our declaration template here - https://oconnellsobm.com.au/odometer-readings-31-march/

18.01.2022 Turning your mind to the next financial year and what you want to achieve? Our recent blog post shares some questions to mull over to help get you started identifying where you may need to direct your efforts and focus your attention over the coming 12 months - https://oconnellsobm.com.au/strategic-planning/

15.01.2022 Reminder: Superannuation payments for the quarter ended 31/12/2019 are due for payment by 28 January 2020. If you are yet to pay, we recommend you process your payment by the 21st of January to ensure it is received in time. Xero Auto Super needs to submitted and approved by 2pm AEDT, Tuesday 21st January, to ensure they reach the super funds by Tuesday 28 January. This allows extra processing time due to the Australia Day public holiday (Monday 27th January) in the lead up to the due date. If you have any questions about your obligations, please contact us.

14.01.2022 Don't miss your myGov notifications! If you have linked your ATO account to your myGov account, you will likely be receiving many updates and notifications from the ATO directly to your myGov inbox - including activity statements & instalment notices. You will get email or SMS notifications from myGov to let you know when there are new messages in your myGov Inbox. The default setting for notification is email. To change your Inbox notification preference, log into your myGo...v account, select the ‘Account Settings’ icon and select 'Inbox alerts'. If you have any questions, don't hesitate to get in touch.

13.01.2022 Have you met Adam? Our director Adam grew up working in his family’s service station the old style station where you got fuel in the tank, your windscreen washed and your tyres checked all while you were sitting in your car. It was here that he found his passion for business. Adam has a talent for spotting opportunities and enjoys challenging the status quo to get the best results for his clients. You can connect with Adam on LinkedIn here - https://www.linkedin.com/in/adamdierselhuis/

08.01.2022 For many of us, January is a time for reflection, goal setting and planning. That's why this month we're sharing a simple model you can use personally and with your team to help you get what you want in 2020. Read the full post and download the model here - https://oconnellsobm.com.au/4-simple-words-to-get-what-you/

07.01.2022 Have you met Hilary? Hilary’s interest in business began in high school while studying accounting and business communications where she learnt that while numbers are important, client relationships are just as important. In her last year of high school, she completed an accounting subject at QUT in addition to her high school subjects. It was this accounting subject that confirmed her passion for business and helping clients achieve their goals. You can connect with Hilary on LinkedIn here - https://www.linkedin.com/in/hilary-do-295b56ba/

05.01.2022 With Christmas only 6 weeks away, you might be starting to think about how to celebrate with your team and close out what has been a difficult year on a positive note. So that you can focus on what matters this festive season, over the next three weeks we'll be sharing resources to ensure you avoid the FBT grinch and enjoy your celebrations. First up: Planning a party, sending gifts to clients? Tick off on the FBT implications with these three tips - https://oconnellsobm.com.au/top-3-tips-to-avoid-the-fbt-gr/

04.01.2022 Have you met Steve? Steve is one of our client managers and a Xero Certified Adviser. Steve enjoys working with clients and helping them achieve their goals and solve their problems. He is particularly passionate about process improvement, trying to deliver desired outcomes in the most efficient and simplest way, through improved procedures and easy to understand communication skills. Most recently, Steve has been assisting clients in optimising their internal finance functions to support better business decisions, leading that offering through one of our group companies, AcuminIO. You can connect with Steve on Linked in here - https://www.linkedin.com/in/stevenkassulke/ or find out more about AcuminIO here - https://www.acumin.io/

04.01.2022 Have you met Angela? One of our client managers and SMSF Specialists, Angela’s experience in working with small family businesses started with assisting her mum with bookkeeping at the age of 15. This insight contributed to Angela’s desire to assist other small business owners in setting and achieving their goals. Angela specialises in Self-Managed Superannuation Funds and enjoys helping clients to build up their retirement savings in a tax-effective manner. You can connect with Angela on LinkedIn here - https://www.linkedin.com/in/angela-chen-31901a51/

03.01.2022 Thinking of purchasing a motor vehicle? If you are contemplating the purchase of a motor vehicle within the next few months then the timing of this purchase may have more tax consequences than you anticipated. Read more in our recent blog - https://oconnellsobm.com.au/tax-tip-saving-fringe-benefits/

02.01.2022 Have you met Jess? Client Manager Jessica Chesney graduated from QUT with a Bachelor of Business majoring in Professional Accounting. She entered as an adviser at O’Connells OBM after completing the summer vacation experience program where she grew to understand that there’s no way to avoid tax but that there are ways to manage a business tax-effectively! These days, Jess splits her time between helping our clients manage & grow their business - and doing the same for her own business, Neat Projects, that she runs with her husband Kevin and who provide fitout and make-good services across the greater Brisbane region. You can connect with Jess on LinkedIn here - https://www.linkedin.com/in/jessica-chesney-565b6679/ and you can find out more about Neat Projects here - https://www.neatprojects.com.au/