Business

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 EOFY is Just Around the Corner… Is your Business Ready to Finalise Payroll and Undertake all Compliance Requirements for 2022? Read More »

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; …

INFLATION = INTEREST INCREASES = WAGE INCREASES Read More »

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 …

The Big Wins for Small Businesses Read More »

Further changes are being made to the requirements for when a person is to apply for their director ID. This marks the end of the current transitional period where new directors were given 28 days from the date of their appointment to obtain their director ID. From April 5, a person will now be required …

IMPORTANT CHANGES TO DIRECTOR ID’S Read More »

Do you have a business in the CBD? Check out the City Business Saver Grant! The grant is available to businesses within the City of Adelaide that: employ between 1 to 20 employees; and occupy non-residential properties; and contribute between $0 to $15,000 in council rates annually for the space they occupy. Eligible businesses can apply …

City Business Saver Grant! Read More »

On review of the National Employment Standards (NES) with regard to Carer’s Leave it seems there is no limit on the amount of accrued Personal Leave an employee can use as Carer’s Leave. We previously advised the limit was 3 days per year – this is old legislation. The corrected information to be aware of …

Carer’s Leave – Apology & Correction to Information Provided in our Previous Newsletter Read More »

The South Australian Government has introduced two new cash grants for eligible businesses that were negatively impacted by the increased restrictions that were announced on the 27th December, 2021. Tourism, Hospitality and Gym Industry Grants The first of these grants is split into two payments and are known as the Tourism, Hospitality and Gym Grant …

NEW COVID GRANTS – DECEMBER 2021 Read More »