THE TRIBUTE TO JOHN HOWARD DINNER

Mark Pinhorn from Harvest Accounting Group hosted a table for 10 of Harvest’s valued clients at a recent tribute dinner at Doltone House for former Prime Minister John Howard.

John Howard gave an inspirational speech on his life in and post politics. A first rate evening with plenty of memorable moments.

Above Left: Scott Bismire (Businesses 4 You), Lucy Milekovic (Ultimate Business Solutions), John Stapleton (Finance and Leasing Solutions) and Michael Bova (Family Wealth Advisory)

Above Centre: John Howard and Mark Pinhorn, that’s John on the left...!)

Above Right: The Harvest Accounting Team

IN THIS ISSUE:

COMMUNITY EVENTS

COOK COMMUNITY CLASSIC
Harvest Accounting recently attended the Cook Community Classic Ball at Doltone House. We hosted a table of valued clients and were proud supporters of this fundraising event. The event was attended by over 300 people.

Pictured above:
Paulette Sismondi (Asset General Insurance Services), Mark Pinhorn and wife Donna, at the Cook Community Classic Ball.

Pictured above: Mark Pinhorn (Harvest Accounting), George Sismondi (Asset General Insurance Services) and Neil Newton (Accent Air)

Pictured above:
Sutherland to Surf Fun Run- An annual fundraising event for local charities. Harvest were represented by Mark and 11 year old daughter Morgan, in matching pink outfits...!

Pictured above:
Mark and Donna Pinhorn putting the finishing touches on the Harvest Accounting renovation.

WELCOME
Harvest Accounting have enjoyed a successful year of growth in terms of both our client base and range of business solutions provided to our valued clients.

We have made a substantial investment in establishing our new office and in utilising state of the art technology. Our goal is to ensure that the Harvest team have all the resources they need to better serve you, our valued clients.

We thank you for your positive feedback regarding our new offices, its convenient location, availability of parking and spacious meeting rooms. The move has been great!

Our business is in growth mode. We have invested a considerable amount of time and money in improving our systems and training our team during the year to provide the foundations for future growth. We are fully committed to our clients and continue to build our business.

Word of mouth referrals are the life blood of our business. If you have a business colleague who you think might benefit from the services we provide, then please refer them to us. This would be most appreciated.

After a successful year in business, with the “GFC” behind us, we encourage you to take time out to reflect on your achievements and to ask yourself some key questions;
• Did I achieve my business and personal goals?
• Have I set goals for next year?
• Is there clear direction on where my business is going?
• Do I have business and marketing plans for the next 12 months?

We find that those who are most successful in business have written plans and goals for the coming year. If you require assistance in this area, please contact our office.

Jon McInnes, Practice Manager
jon@harvestaccounting.com.au

I’M A SMALL BUSINESS,
I DON’T NEED INSURANCE
So you think... In order to understand the importance of small business insurance just imagine certain situations when you don’t have insurance coverage.

Example 1:- Christmas Party -
An incident occurred at a company Christmas party. One of the employees complained of harassment. The employee was concerned that the complaint was not taken seriously and subsequently commenced proceedings which alleged that the company had failed to prevent the incident and take the appropriate action when it was reported. The claim was settled out of court for more than $50,000 with a similar amount spent on legal costs.

Example 2:- Injured sub-contractor -
A sub-contractor breaks his leg at work and is off work for 6 months. As he is covered by his insurance there is a $100,000 claim payout, but his insurer now seeks to recover this money. The business owner does not have hired labour extension in his insurance policy and is therefore not covered, resulting in him personally having to meet the claim.

Situations like these can easily be resolved when your company has an insurance package with appropriate coverage. Of course it all depends on your activities and particular circumstances but having no business insurance at all will take your business down as soon as something serious happens.

Mark, Jon and Suzanne all utilise George Sismondi, Principal of Asset General Insurance Services to review and advise clients on their business insurance needs.

For a no obligation review of your business insurances and to ensure you have the appropriate cover contact George Sismondi on 02 9545 4443 or george@assetgis.com.au

INSURANCE MESSAGE FROM HARVEST ACCOUNTING GROUP - TAX AUDITS

"The ATO Plans to review and audit the affairs of 26,000 businesses with a turnover under $2m as part of its 2010/2011 cash economy crackdown."
ATO website 2010.

"The ATO says it will “verify” over 48,200 BAS refund claims from small enterprises in the next 12 months as it ramps up its monitoring of fraudulent BAS."
ATO website 2010.

Do you or your business have the readily available time and money to pay for accounting and legal fees to deal with an investigation or audit? At Harvest Accounting, we have seen a marked increase in the number of audits of clients in the last 12 months. It appears the ATO is targeting the SME market and ramping audit activity in this area.

Tax Audit Insurance can provide business owners with financial support and peace of mind. As a SME, it is highly likely that your business will be subject to an ATO or Office of State Revenue audit within the next 3 years. Some of the areas they are targeting include payroll tax and worker’s compensation insurance premiums. The premiums for protection are very reasonable and absolutely worthwhile in the event you are subject to an audit.

Dealing with audits is a time consuming and expensive affair, which could leave you with an unexpected bill of thousands of dollars. For example:-

An ATO or Office of State Revenue Audit could include a review and report on:
• 5 years of tax records
• Verifying BAS returns
• Wages and payroll records; and require
• Re-constructing transactional records.

At Harvest, we focus on the protection of your assets and planning for these unusual costs. Talk to us at Harvest Accounting regarding your situation and the potential need for Tax Audit Insurance.

Mark Pinhorn, Director
mark@harvestaccounting.com.au