Monthly Archives: August 2016

Deadline for 2016 PAYG Payment Summaries

The deadline for 2016 PAYG Payment Summaries being lodged was 14th August.  Whilst employee should have received their PAYG payment summary by 14th July, employers had until 14th August to lodge a copy of each individual summary as well as the PAYG Payment Summary Statement.

If you haven’t lodged these yet, please do so immediately to avoid the imposition of any fines. And for those lodging paper copies, please remember to keep a copy of the PAYG Payment Summary Statement for your records.

There are however two exemptions:-

  1. September 30 where we as tax agents have been involved in there preparation.
  2. The date of lodging the 2016 Tax Return where only family members have been employed.

Even though you may have until as late as March 31, 2017 to certify your 2016 WorkCover remuneration, now would be a good time to do so, particularly if your estimated remuneration for 2017 will be less than for 2016.

And as always, please don’t hesitate to ask as for assistance with any part of this.

At MRS, we will spend today planning for your success tomorrow.


Lessons from the Olympics

And so another Olympics has come and gone. Two things struck me whilst watching these games – how small the crowds were and the number of shows of sportsmanship amongst the cut and thrust of a once in a four year competition.  I was also reminded about the importance of a coach.

This was particularly evident in “turn” events such as the high jump, long jump and pole vault. After their turn, every athlete seemed to engage their coach in a quick chat.  No doubt it was usually positive affirmation but it also seemed to frequently be a reminder of the basics; to follow a system, to do the right things the right way.

So what systems do you have in your business? How clear are those systems?  Do you practice them?  Does your team clearly understand what they are and are trained in them?  How often do you focus and remind yourself about doing the right things the right way – or are you just dealing with the issue of the day (whatever that may be and regardless of how unimportant that may be in the long run).

So who is your coach? Are you guilty of trying to wearing both hats?  Who is reminding you and training you on doing the right things the right way?  Maybe it’s time for you to appoint a coach.  We can help you as we do with so many clients – and from that we can provide you with insight and skills into many areas that we have gained from a vast array of experiences.  Our service offering will be further improved with the introduction of an upcoming key performance indicator monitoring system – keep an eye out for that.

 At MRS, we will spend today planning for your success tomorrow.

Lencioni & The Five Temptations of a CEO

I took the opportunity whilst away last week to read a couple of books including another by one of my favourite business authors. On this occasion, I read Patrick Lencioni’s The Five Temptations of a CEO.

Not all of the temptations explored relate to everyone in the same way. But as no-one is perfect in all areas, some of the temptations will resonate more for some than with others.

The two that resonated most with me were:-

  • Choosing certainty over clarity – in exploring this, Patrick sets out that too much time is wasted in analysis rather than getting on with it and at the risk of clearly setting out the desired result. Whilst products and services must be precise in their delivery, the CEO should not be aiming for precision themselves in the filling their role; if they drive to be precise, they risk over analysis and paralysis within the business.
  • Choosing harmony over productive conflict – Patrick argues that the best decisions acknowledge all perspectives. Whilst all perspectives and ideas can’t be agreed upon, they can be considered. As such, discord and opinions should be encouraged in an environment that encourages debate and a consensus approach. This reminded me of talk by a CEO of one of the world’s major franchises in which he spoke at length about the blood on the floor during meetings but how they walked out united and focused on the same goals and actions.  That franchise made many difficult decisions that saw it transition successfully through a period of great change in consumer behaviour.

Unlike all other Lencioni books, don’t start reading it before you go to bed.  If you do make that mistake, you won’t sleep!

 At MRS, we will spend today planning for your success tomorrow.