Simon Flowers 
After the completion of the 2014 Murray report and the Government Tax White Paper expected to be released soon, we may see some changes in the upcoming budget to try and make the tax and super system “fairer” and gain some further taxes for the Federal budget deficit. Some of the changes include:
- Changes to claiming concessional contributions to super
- Tightening the ability to contribute non concessional contributions to super
- Taxing pension funds
- Taxing the earnings over a certain limit on pensions funds, ie a benefit tax
- Deleting imputation credits from being claimed back in super funds
- Forcing super funds to limit and capital allowed to be withdrawn from super
- Forcing super funds to place a portion of the members super balance in annuity products (note smsf’s exempt)
- Making significant changes to Limited recourse borrowing arrangements within super funds or banning them outright
Please note the Government has a history of grandfathering some rules but its best to plan for the worst case scenario.
Adam Roberts 
With the end of the Fringe Benefits Tax (FBT) year rapidly approaching, the time has come to check the odometer readings for all vehicles held within associated entities. This odometer reading must be documented for each vehicle, as at 31 March 2015 (this Tuesday).
Your LBW representative will be sending a form to you shortly in respect of the vehicles held within these associated entities during the 2015 FBT year. It is important that the form is completed fully and that any new vehicles, or vehicles disposed of since 1 April 2014, are fully disclosed. For those entities which have purchased a vehicle since 1 July 2014 for the first time, please ensure that you also document this odometer reading, as we will be requesting this information from you at a later point in time.
Simon Flowers
The 2015 Powercor Geelong Business Excellence Awards (the Awards) were officially launched on Thursday 11th February at Truffleduck, Fyansford.
2015 marks the 30th year that the Awards will recognise and celebrate business excellence across the Geelong region. The Awards are one of the most cost effective and thorough forms of business development you will ever undertake.
The independent judging panel consists of experienced Geelong business leaders as well as many past winners of the Awards.
LBW Chartered Accountants believe the Awards are extremely important especially in current economic times and as a result remain a category sponsor of the Large Business category.
We encourage all businesses to enter the Awards as they will definitely benefit from the experience. We strongly suggest that you attend one of the information sessions that will be held across the greater Geelong area for four weeks following the launch.
More information in relation to these Awards and the 2015 Awards video created by Robot Armycan be found at www.gbea.com.au or go to the Geelong Business Excellence Awards Facebook page http://on.fb.me/Kzzeud or the Awards Twitter page https://twitter.com/GBEAwards to receive information and updates as they are posted.
Kelli Finlayson
You can also email the Awards coordinator, Kelli Finlayson on This email address is being protected from spambots. You need JavaScript enabled to view it.
