February Newsletter 2024

A Taste of Summer at Long Last!

Well, we are finally getting to experience some warmer weather at long last, despite ethe forecast of a hot and dry summer due to El Nino!

As long as we still get some rain during this spell of warmer weather, our gardens will be ever so  grateful.

Last month Chris attended a quarterly business conference in Sydney where the next phase of AI was unveiled. We all have probably seen how ChatGPT has taken the world by storm with its transformative impact on the way we will live in the future. The latest version of ChatGPT is 4.0. It’s important to note that ChatGPT 3.5 which was released in November 2022 is constantly evolving, with both public and developer versions receiving updates and improvements over time.

We are now able to create our own GPTs (Generative Pre-trained Transformers) or digital assistants using the latest version.

So why should you even care about this?

Well, to give you a very simple answer, AI will be to the world what the internet was when it first came into the public domain in 1993 – that’s right over 30 years ago now!

What can a digital assistant do for your business?

Besides, automating the repetitive tasks in your business, digital assistants can already perform these tasks:

Content creation:

  • Generate different creative text formats, like poems, code, scripts, musical pieces, email, letters, etc.
  • Write product descriptions, blog posts, social media content, marketing copy, and more.
  • Personalise content for different audiences and channels.
  • Brainstorm new ideas
  • Create SEO keywords

Customer service:

  • Answer customer questions accurately and efficiently through chatbots.
  • Automate repetitive tasks like order processing and appointment scheduling.
  • Personalise customer interactions and offer support in multiple languages.
  • Automatic Email responses

Data analysis and insights:

  • Summarise large amounts of text data and extract key information.
  • Identify trends and patterns in customer feedback and reviews.
  • Generate reports and presentations based on data analysis.

Research and development:

  • Develop new products and services by exploring different design concepts.
  • Generate product descriptions and marketing materials for new ideas.
  • Conduct market research and analyse competitor data.

Internal operations:

  • Automate administrative tasks like scheduling meetings and taking notes.
  • Summarise internal documents and reports in simple to understand terms.
  • Translate documents and communications for international collaboration.
  • Generate interview questions
  • Generate code for web development

The number of ways to use digital assistants for your small business is limited mainly by your imagination. The tool can help provide the first steps for multiple different types of tasks. Intelligent use of AI can free up time for workers to pursue more advanced projects.

At the moment, this technology is like using ChatGPT version 1.0, which we never got to see. Version 3.5, whilst impressive, was the version released to the public in November 2022. So just imagine how good the digital assistants technology will get when it is at version 4.0 where ChatGPT currently is?

If you want to explore how you could use a digital assistant in your business, contact our Team on 03-55612643.

Do you need some help with planning out the year ahead? Or need some accountability or motivation to be more successful in 2024?

If so, reach out to our Team, and we will show you how our business coaching program – Chasers Getting ResultsTM – works.

Starting the Dream – How to Avoid a Nightmare When You Start a Business – is scheduled to be officially launched in February 2024 – more details to come…

If you want to get a copy at a 50% discount with our pre-publication offer, click this link: Starting the Dream. 

Both books are for any aspiring entrepreneur who wants to grow their business and to understand what to look out for and avoid when they start their business, too!

We continue to explore the theme of ‘Simple Systems’ for the first quarter of 2024 and focus on the development of systems and processes in your business. This involves taking the knowledge about your business out of your head and documenting it in a format that allows you to build your Team and grow your business. Be sure to check out our daily blogs and weekly podcasts for tips, strategies and ideas to help you achieve success more quickly.

If you have not yet left a review for us on our Google Reviews, then now is the chance to do this and get 6 chances of winning a luxury 3-night holiday in Tropical Mackay in North Queensland. That’s right! By simply scanning this QR Code and following the instructions, we will enter you in the monthly draw to win.

The winners so far were:

  • July – Heidi Monaghan,
  • August – Mark Struth
  • September – Felicity Barker
  • October – David Peart
  • November – Jodie Welsh

Last month’s winner was:

If you are not successful in previous months, you will be automatically re-entered for the following month, giving you up to 12 possible chances of winning this awesome holiday. As soon as you leave a review, our Team will be notified and will enter your name in the draw. – Good luck!

If you haven’t yet caught up with the latest edition of the 14th Edition of our award-winning quarterly magazine – Chasing the Dream,  it is now available and features Sarah Irving & Joshua Suringa from Funakoshi Karate Warrnambool.

Don’t forget to check out our latest podcast episodes on The Chasers Channel

  1. Episode 34 – Planning Ahead for Stage 3 Tax Cuts
  2. Episode 33 – How a Super Recontribution Strategy Could Improve Your Tax Position

We release a new episode every Sunday so make sure you follow our podcast to get the latest news, tips and strategies for bringing you closer to achieving the dreams you are chasing.

Key Dates in February 2024

21 February

  • Lodge and pay December 2023 monthly business activity statement for business clients with up to $10 million turnover who report GST monthly and lodge electronically.
  • Lodge and pay January 2024 monthly business activity statement.

28 February

  • Make quarter 2, 2023–24 super guarantee contributions to funds by this date.
  • Note: Employers who do not pay minimum super contributions for quarter 2 by this date must pay the super guarantee charge and lodge a Superannuation guarantee charge statement by 28 February 2024.
  • Lodge tax return for non-taxable large and medium entities as per the latest year lodged (except individuals).
  • Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment.
  • Lodge tax returns for new registrant (taxable and non-taxable) large or medium entities (except individuals).
  • Payment (if required) for companies and super funds is also due on this date. Payment for trusts in this category is due as per their notice of assessment.
  • Lodge tax return for non-taxable head company of a consolidated group, including a new registrant, that has a member who has been deemed a large or medium entity in the latest year lodged.
  • Lodge tax return for any member of a consolidated group who exits the consolidated group for any period during the year of income.
  • Lodge tax return for large or medium new registrant (non-taxable) head company of a consolidated group.
  • Lodge and pay Self-managed superannuation fund annual return for new registrant (taxable and non-taxable) SMSF, unless they have been advised of a 31 October 2023 due date at finalisation of a review of the SMSF at registration.
  • Note: There are special arrangements for newly registered SMSFs that do not have to lodge a return – see Super lodgment.
  • Lodge and pay quarter 2, 2023–24 activity statement for all lodgment methods.
  • Pay quarter 2, 2023–24 instalment notice (form R, S or T). Lodge the notice only if you vary the instalment amount.
  • Annual GST return – lodge (and pay if applicable) if the taxpayer does not have a tax return lodgment obligation.
  • Note: If the taxpayer does have a tax return obligation, this return must be lodged by the due date of the tax return.
  • Lodge and pay quarter 2, 2023–24 Superannuation guarantee charge statement if the employer did not pay enough contributions on time.
  • Note: Employers lodging a Superannuation guarantee charge statement can choose to offset contributions they paid late to a fund against their super guarantee charge for the quarter. They still have to pay the remaining super guarantee charge.

In case you missed some of our recent Blog Articles, here are a couple you might find interesting

Beyond the Grind: From Business Boss to Visionary Leader

Hello Chasers, Ever feel like you’re stuck in the hamster wheel of your own business?  You know, juggling tasks, barking orders, and wishing for a few extra hours in the day?  Well, my friend, you’re not…

Six Ways To Pay Off Your Home Faster In 2024

Hello Chasers, For most people, their home is their biggest expense and the sooner you can pay down the debt, the better off you’re going to be financially.  Fortunately, there are a number of things you…

Petra-fied About Starting a Business?

Hello Chasers, So you’re bitten by the entrepreneurial bug – that audacious, thrilling desire to craft your own path, chase your passion, and become your own boss. But hold on, adventurer, before you gleefully jump into…

Host Your Next Event in Our Stunning Space Room

A Purpose-Built Workspace to Hot Desk or Conduct Your Meeting

Our new business space, christened ‘The Chasers Hub’ at the Fletcher Jones Business Centre is available for hire. If you need to run a training meeting, hire a ‘hot desk’ or host a virtual presentation then check out the availability of the space with our online calendar or contact Shannae Hewett  on 55612643 and she will discuss your requirements and organise these with your booking.

Worried about your Home Loan Interest Rates or
Need Finance for that new Ute & Machinery?

If so, now is a good time to review your financial position and your wealth protection cover to ensure a life event such as heart attack, cancer or death doesn’t leave your loved one’s with a debt that they cannot pay back! Contact Angela Tirabassi on 55612643 if you would like to discuss a solution today!

Have you increased your debt levels (Home/Business Loans etc.) recently?

Contact Dale Wilson-Rea on 55612643 for the most competitive rates & taxeffective structuring of your finance today!