News

JOIN OUR FOOTY TIPPING COMPETITION 1st March 2019

Henson Lloyd Accountants invites you to join our 2019 Footy Tipping Competition.

FIRST GAME: THURSDAY 21ST MARCH 2019

FREE ENTRY

1st, 2nd & 3rd Prizes up for grabs

End of season celebratory presentation for all participants.

Follow the link below for more info and to register:  https://www.footytips.com.au/comps/HensonLloyd

Password: moustache Or contact Danielle at the office – 08 8431 1644

Professional Series Part 2 1st March 2019

Henson Lloyd were thrilled to be a part of the ‘Professional Series Part 2’. Hosted by the Master Landscapers of SA. The session focused on finance & accounting in landscape design & construction.

Alongside other experts Lachlan & Wayne shared their finance, tax, cashflow and accounting advice for landscapers & designers.

Keep your eyes our for more info sessions in 2019.

Instant asset write-off threshold upped to $25k 8th February 2019

The government has increased the threshold for the instant asset write-off to $25,000 as it looks to entice the small business sector ahead of a federal election.

Announced yesterday, Prime Minister Scott Morrison has pledged to increase the small business instant asset write-off to $25,000 from $20,000.

The write-off will be available for small business with an annual turnover of less than $10 million and will apply until 30 June 2020.

The government will be seeking to legislate the change when Parliament resumes on 12 February.

This measure is estimated to have a cost to revenue of $750 million over the forward estimates period, with an estimated 3 million small businesses eligible to access the write-off.

“The $25,000 instant asset write-off will improve cash flow by bringing forward tax deductions, providing a boost to small business activity and encouraging more small businesses to reinvest in their operations and replace or upgrade their assets,

FINANCE AND ACCOUNTING IN LANDSCAPE DESIGN AND CONSTRUCTION 1st February 2019

Henson Lloyd are excited to be involved in ……

FINANCE AND ACCOUNTING IN LANDSCAPE DESIGN AND CONSTRUCTION

Three real-life design and construction scenarios are presented to our panel of experts for comment in front of a live audience.

Find out the answers to the most commonly asked questions about vehicle finance, tax and accounting for landscapers and designers.

The content of this workshop is invaluable to any landscape design or construction professional.

The experts on our panel are the best in the business:

✔️Wayne Henson, Director of Henson Lloyd.
✔️Lachlan Smyth, Director of Henson Lloyd.
✔️Matt Ford, Director of Finestream Capital.
✔️Frank Ross, MLSA President.

Our panel will be mediated by Liz Barter, Lending Manager at Finestream Capital

This workshop is FREE to MLSA members.

Thursday 21st of February at 5:30pm

To RSVP or enquire, please email ceo@landscapesa.com.au

Henson Lloyd Accountants Invite You To…. 4th October 2018

HENSON LLOYD INVITES YOU TO….. 

Breast Cancer : The Hidden Secret Awareness Breakfast

A new era for Breast Cancer Screening & Prevention. 

THURSDAY 18TH OF OCTOBER 

7:45am for 8:00am Start

ARKABA HOTEL 

Osmond Room 

150 GLEN OSMOND ROAD FULLARTON SA 5064

Guest Speaker – Dr. Stephen Birrell

Discussing how high mammography breast density lowers the sensitivity of breast cancer screening and increases breast cancer risk.

For more info, please visit www.wellendhealth.com

We hope you can join us for our Breast Cancer Awareness Breakfast. Please remember to RSVP at your earliest convenience.

The Buy a Bale Campaign 11th September 2018

At Henson Lloyd we have recently donated $2000.00 to the Buy a Bale campaign to support our Aussie Farmers in their time of need.

The Buy a Bale campaign is part of the charity Rural Aid, formed by Charles and Tracy to expand services and support to rural communities not only suffering through natural disasters but communities that need help remaining in existence, our rural communities are disappearing and need help.

For more information about the Buy a Bale campaign visit https://www.buyabale.com.au

ATO’s Focus On Work-Related Expenses 22nd March 2018

This year, the ATO is paying close attention to what people are claiming as ‘other’ work-related expense deductions, so it’s important when taxpayers claim these expenses that they have records to show:

Read more

The Company Tax Rate Saga 19th September 2018

Wayne’s comment: Unfortunately, the recent Government delays in passing company tax rate legislation, has created much confusion in this area, and in certain cases, a review and possible amendments may be required for previously lodged tax returns.

In the last week of the August Parliamentary sittings, the controversial corporate tax cut plan for the big end of town (i.e., companies with an aggregated turnover of over $50 million) was defeated.

In addition, long-awaited legislation impacting the company tax and franking rates for small to medium companies (i.e., introducing a new ‘base rate entity passive income test’ from the 2018 income year to qualify for the lower 27.5% tax rate) was passed.

This legislation was particularly relevant for company rates applicable to passive investment and ‘bucket’ companies, which may now need to reconsider earlier lodged 2018 company tax returns, as well as the amount of franking credits attached to dividends paid from 1 July 2017.

Additionally, consideration may also need to be given to the company tax rates (and in certain circumstances, the franking rates) previously applied with respect to the 2016 and 2017 income years. 

This is in light of the recently issued ATO compliance and administrative approaches for the 2016, 2017 and 2018 income years.

Single Touch Payroll Reporting (STPR) – Does this affect you? 15th March 2018

The ATO have recently introduced a new initiative to receive real-time payroll information about your employees each pay run. This change is known as Singe Touch Payroll Reporting (STPR).

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Taxpayer Couldn’t Explain Where She Got The Money To Pay Her Expenses! 2nd March 2018

The Administrative Appeals Tribunal has upheld amended assessments issued by the ATO to a beauty technician, based on the high volume of money passing through the taxpayer’s various accounts when compared with the modest income she had included in her tax returns.

For example, in the 2015 income year, the taxpayer had declared income of $61,842, but the ATO’s analysis of her bank accounts, records of international money transfers, and casino data suggested she had spent $107,328.

Read more