The 2017 Federal Budget was handed down in Canberra on Tuesday night (9 May) and as always, opinions are mixed about what it means for Australia.
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Business
People are being warned that the latest email scam doing the rounds -claiming to be an email from ASIC around your company details - actually hides malicious malware that paves the way for ransonware to be executed on your computer remotely.
You may or may not be aware that the Government announced in the 2016-17 Federal Budget that the small business tax offset rate would incrementally increase from 5% to 16% over a 10 year period.
Planning to start a small business in 2017? Take note!
From 19 January 19 2017, newly registered small businesses will be provided with the option to report less GST information on a simpler BAS.
The wide ranging superannuation reforms originally announced in the 2016-17 Federal Budget have passed Parliament.
As the majority of the reforms start from 1 July 2017, it’s important to consider how these might impact on you and whether you need to take any action before then.
In the Federal budget handed down in May 2016, the government heralded significant changes to superannuation that will come into effect from 1 July 2017.
Although the government is still to finalise the exact details, it is a good idea to plan ahead, and to be aware of the major changes that will apply from next year.
In a recent article that appeared in the itnews.com.au, financial scams have been brought squarely into the spotlight again.
It was reported that in South Australia, police have recently issued a warning to companies after a local business was scammed out of $1.5 million by offshore attackers masquerading as a supplier, having obtained sensitive business information through a targeted phishing campaign
Do you have a real understanding of what it means to be a company officeholder? How do you stay compliant, or make sure your company details are up to date and that you’re paying your annual statement on time.
The sly, underhanded activities Australia’s illegal phoenix and tax avoidance schemes are being exposed and systematically shut down by a new alliance that involves the Australian Taxation Office (ATO) and Australian Securities and Investments Commission (ASIC).
LMP are once again excited be supporting the Ultimate Treadmill Challenge in 2016!
The Ultimate Treadmill Challenge started in 2007 when Jane Kilkenny started with 6 treadmills and a dream to raise money for charity. The event sees the treadmills running constantly for 24 hours.
It’s tax time…..and we all know what that means! Yes, it’s time to get the shoebox out, sort the receipts and get organised for your dreaded tax return.
But the start of a new financial year also tends to bring another issue altogether….scammers who are keen to cash in on peoples confusion and lack of time when it comes to filing their return.
The Australian Tax Office (ATO) has given small businesses some breathing space by extending the deadline for compliance with the new SuperSteam to October 28 this year.
On 13 May 2013 the Federal government announced that it would introduce a 10% withholding tax on payments made to foreign residents who dispose of certain taxable Australian property. Do you know what this means and does it affect you?
Please be aware that if you have created a MyGov account and linked it to MyTax, the Australian Taxation Office (ATO) has advised that any assessments or other important information will be delivered to your MyGov inbox and not directly to us as it has been in the past.
SuperStream is a new initiative introduced by the Australian Taxation Office (ATO) designed to standardise processing of superannuation data and payments electronically, allowing the process of employers paying superannuation entitlements to employees more streamlined.
Cloud computing has become a $100+ billion industry across the globe. For users it is easy to access and easy to use because for users on a desktop computer or handheld device, the cloud provides instant access to data anytime, anywhere there is an Internet connection.
Given recent ups and downs in the share market, Self Managed Super Funds (SMSF's) have become a hot topic once again. SMSFs allow you to control your Super input and investments more than an Industry Super Fund would. However, it's important to know a little bit more about them before you decide to take the leap.
There has been a lot of discussion about China lately – Free Trade Agreements, financial stability and growth and the impact on the Australian economy, and Chinese investment in Australia. With the help of our international contacts, we explore the impact of China on Australia and give some context to the debate.
Many business owners don’t realise that the business has outgrown its structure until something comes up – and this something is usually something negative.
In a recent speech, Small Business Minister Bruce Bilson stated that a lot of his time talking about the $20,000 immediate deduction for small business was convincing people it was not a hand out.
“I have spent a lot of my time explaining that asset write-off mechanisms aren’t grants, they are not gifts, they are not cash backs. They are a way of expensing a purchase in an asset that can contribute to a functioning business. Now, if you are not making any income there is not a huge benefit in you being able to write-off additional expenses at a faster rate.”