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...
by LBWCA | Nov 30, 2015 | Accounting & Tax, Business
The Prime Minister released on Monday 7 December 2015 a new National Innovation and Science Agenda Report which includes a wide range of items which aim to provide a package of initiatives to drive innovation. Some of the initiatives include: tax incentives for...
by LBWCA | Nov 26, 2015 | Accounting & Tax, Business
The Prime Minister and Treasurer released their first MYEFO update on Tuesday 15 December 2015. The mid-year economic & fiscal outlook (MYEFO) downgraded the 4-year deficit outlook by $26bn (to $108bn), delaying the projected timing of the first surplus 1 year to...
by LBWCA | Nov 20, 2015 | Accounting & Tax, Business
The ATO has announced an increased focus on rental property deductions for the 2015 year. Due to this increased focus from the ATO we would encourage clients to double-check the information that they are providing to us to prepare their income tax returns and ensure...
by LBWCA | Oct 20, 2015 | Accounting & Tax, Business
A growing trend has recently emerged on an international scale in respect of identity theft and the coercing of confidential information from unwilling parties. Recent activity has seen an increase in the number of superfluous emails and telephone calls being made...
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