by LBWCA | May 11, 2016 | Business, Accounting & Tax
On Tuesday 3 May 2016 the New Treasurer Scott Morrison released his 1st Federal Budget. The Treasurer stated the budget was “not just another budget but in fact was an economic plan to head into a diverse new world economy for Australia”. The Treasurer...
by LBWCA | Mar 12, 2016 | Accounting & Tax, Business
Salary packaging (also known as salary sacrificing) can help boost your superannuation savings and may reduce the amount of tax you pay as well. To encourage Australians to save more for their retirement, superannuation has a concessional rate of tax. Contributions...
by LBWCA | Jan 16, 2016 | Accounting & Tax, Business
Fringe Benefits Tax – the end is near! The FBT year ends on 31st March and there a couple of items to keep in mind, please make a note of your work vehicle(s) odometer reading on 31st March 2016. We will be asking for that reading when preparing your business tax...
by LBWCA | Jan 13, 2016 | Accounting & Tax, Business
New laws come into force from 1/7/16 in relation to what advice and services can be provided by accountants in relation to superannuation. From this date accountants will not be able to provide advice in relation to setting up, winding up, contributions and pension...
by LBWCA | Jan 5, 2016 | Accounting & Tax, Business
The financial reporting requirements of proprietary are based on the “small” and “large” criteria. What is a “large” proprietary company? A proprietary company is defined as large for a financial year if it satisfies at least two of the following three conditions: 1....
by LBWCA | Dec 15, 2015 | Accounting & Tax, Business
Both the Liberal and Labour party have hinted at possible changes to the rules regarding negative gearing if elected to government at the next election. Under Labour’s proposed policy, after 1st July 2017 only newly constructed homes would be eligible to be negatively...
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