The annual Christmas party could cost your business a lot more than anticipated! Beware of FBT this festive season. “Smart Company” and “Not so Smart Company” invited their employees to their respective annual Christmas parties held off business premises. Both used an external event management provider. In both instances, transport to the venue from the …
The annual Christmas party could cost your business!! Read More »
The deferral date for Single Touch Payroll Phase 2 is fast approaching. All MYOB users must be compliant with Single Touch Payroll Phase 2 as of 1 January 2023. Our dynamic Bookkeeping team at Henson Lloyd are more than happy to take on this task for you, and ensure you are compliant by the deadline. …
Here at Henson Lloyd Accountants we are always looking for ways to improve our client experience. The ATO are dedicated to continuing the digital conversion of their services, and reducing the paper correspondence sent both directly to you and us as your tax agent. We are therefore excited to introduce you to ATOmate – …
The Cisco Kid, one of Wayne’s favourite shows from the 1960’s. Vulnerability of SME’s Small businesses frequently feel immune to cyber threats. They believe their relative obscurity keeps them beneath the radar of malign criminals. Unfortunately, this is not the case. A recent study by Cisco found that more than 50 per cent of Australian …
If your business meets certain criteria the ATO may disclose your debt information to credit reporting bureaus (also known as credit reporting agencies). The ATO will not report your debt information to credit reporting bureaus if you’re already engaged with them to manage your tax debts. The ATO may report your business tax debit …
At Henson Lloyd Accountants we have an experienced Bookkeeping team dedicated to providing our clients with Monthly/ Quarterly Bookkeeping: including but not limited to BAS Preparation, Accounts Payable, Accounts Receivable, Payroll, Data Entry, Bank reconciliation, and Monthly / EOY reporting. As the Financial Year comes to an end, there are a number of Payroll Finalisation …
The RBA’s decision to lift interest rates by 50 bps to 0.85 per cent highlights the need to report inflation monthly rather than quarterly. The RBA has relied on CPI figures for the March quarter. They are the same figures it relied on to raise interest rates by a quarter of a per cent in May; …
Lifestyles out of sync with after-tax income are among a range of behaviours by wealthy individuals that will raise a red flag, the ATO has said in a revised list of trigger warnings. The ATO web page states, “What attracts our attention”, large or unusual transactions as well as “controversial interpretations of the law” and …
Lifestyle of the Rich Can Raise a Red Flag, Says ATO Read More »
There have been a few changes made by the government in regards to Instant Asset Write Off for the 2022 and 2023 financial years. This is because there has been an extension made to the Federal Government’s Coronavirus Stimulus Package. It was here that the Instant Asset Write-Off threshold increased from $30,000 to $150,000 (net …
Government Changes to Instant Asset Write-Off for 2022 & 2023 Financial Years Read More »
Making COVID-19 Business Grants Non-Assessable Non-Exempt Income. The Government has extended the measures that enable payments from certain state and territory COVID-19 business support programs to be made non-assessable non-exempt income (‘NANE’) for income tax purpose. This applies to the following South Australian Grants. South Australia COVID-19 Tourism and Hospitality Support Grant. South Australia COVID-19 …
