After many months of work we are thrilled to announce that our new and refreshed website will be live on Friday 1st September. You can find us at www.lbwca.com.au. The new design and colours reflect our new branding and includes a new and improved structure with drop down menus for both mobile and desktop versions. We have also improved the content so you can get more of an insight as to who we are and how we can help you and your business to grow.
We hope you find the new website fresh and engaging. For any feedback or questions please email us via our online form.
The Federal Government has mentioned Division 7a and unpaid beneficiary loan accounts in the last couple of budgets and now the ATO have released a Practical Compliance Guideline (PCG 2017/13) which outlines the implications of sub trust arrangements ceasing in the 2017 or 2018 financial years.
If we go back a couple of steps, the Federal Government following the Bamford case a few years ago now stated that they were going to re-write the trust tax law as it was getting all too confusing even for tax accountants and tax lawyers let alone the general business owner! This hasn’t been done, but they did add in a couple of small changes in relation streaming of capital gains and dividends form trusts. They also totally confused everyone with the unpaid loan account issue and Division 7a by introducing what we call “EA” and “EB” loans and sub trusts.
Currently there are approximately 1390 different grants available with $54.9B in funds set aside to service these grants.
The grants are offered across a very broad spectrum of industries from Agriculture to Finance to Medical to Media & Entertainment.
Some grants are provided on the basis of new employment being created whilst others are purely for the growth and expansion of the business. Some are a cash contribution towards equipment purchases and some relate to financial assistance for professional services. Others can take the form of subsidized or zero rated loans.
It should also be understood that successful application for one type of grant does not preclude you from chasing others. This needs to be done strategically though so it might be necessary to consider implementing a grant plan to work into your overall business plan.
Whilst the idea of getting grant funding sounds easy it is widely agreed that finding the right grant or even becoming aware of a grant that may apply to you is the first barrier.
LBW can assist in identifying and understanding grants that may be applicable to your business. We can then arrange and manage the application and ongoing management of the grant.
If you are interested in seeing if there is any potential grant funding waiting for you amongst the myriad on offer please speak to your LBW Principal and we can arrange a free initial assessment for you.