Blog - Leenane Templeton - Newcastle Accountants, Business Advisors & Financial Planners

Mar 21

It’s FBT Time

It's Fringe Benefits Tax Time The end of the FBT year is fast approaching, and it is a good time to reflect on your FBT plans for 2019-20. Fringe benefits are benefits that you provide to your staff that fall outside the categories of traditional wages and salaries. Examples of... read more →

March 21, 2019
Accounting, Fringe Benefits

Mar 18

Is an alternate director for an SMSF better than a successor director? Part 2

We compare the option of a director nominating an alternate director in contrast to nominating a successor director in a self managed superannuation fund (‘SMSF’) context to determine which is better. In Part 1 of our series, we considered how alternate directors are problematic in an SMSF context. In Part... read more →

March 18, 2019
Accounting, Self managed super funds

Mar 15

Scam Warning From ATO

Scammers have developed a different tactic over the new year to impersonate the ATO. Perpetrators are using an ATO number to send SMS messages to taxpayers, asking them to click on a link and hand over their personal details. The ATO received many reports in 2018 of scammers manipulating call... read more →

March 15, 2019
Accounting

Mar 01

Collaborating for a Cure

Local charity Hope4Cure Foundation and public hospital Calvary Mater Newcastle have joined forces to support women and their families experiencing ovarian and gynaecological cancer in the Hunter region. Following a $40,000 donation from Hope4Cure Foundation, Calvary Mater Newcastle launched a special research grant for its researchers to help bolster research... read more →

March 1, 2019
Accounting, charity

Feb 25

Will Superannuation Reforms Affect You?

In the last week several key superannuation measures potentially impacting your super were passed by both Houses of Parliament. These are designed to protect members with small super balances as follows: 1. Insurance for members who are considered 'inactive' must not be held unless a member has opted in to... read more →

February 25, 2019
Accounting

Feb 21

Australian Small Business Champions 2019

Leenane Templeton has been selected as an Australian Small Business Champion Finalist from over 2,000 entries. The awards Managing Director said " This achievement is testament to the vision, planning and hard work invested in Leenane Templeton to deliver spectacular results". Leenane Templeton continues to grow our professional team and... read more →

February 21, 2019
Accounting

Feb 11

Is an alternate director for an SMSF better than a successor director? Part 1

We compare the option of a director nominating an alternate director in contrast to nominating a successor director in a self managed superannuation fund (‘SMSF’) context to determine which is better. In part 1 of our series we will explore the role of an alternate director and some of the... read more →

February 11, 2019
SMSF

Feb 04

Single Touch Payroll to include all businesses in 2019

Single Touch Payroll to include all businesses in 2019 On 1 July 2018, the Australian Tax Office (ATO) rolled out Single Touch Payroll (STP). This changed the way employers with 20 or more employees reported their employees’ tax and super information. Generally through payroll or accounting software that offer STP... read more →

February 4, 2019
Accounting

Jan 18

Total superannuation balance and limited recourse borrowing arrangements: Part 2

Under certain circumstances, an individual member’s total superannuation balance (‘TSB’) will be increased by their share of the outstanding balance of a limited recourse borrowing arrangement (‘LRBA’) that commenced on or after 1 July 2018 when the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 (‘Bill’) becomes law.... read more →

January 18, 2019
SMSF

Jan 08

Total superannuation balance and limited recourse borrowing arrangements: Part 1

If the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 (‘Bill’) becomes law, an individual member’s total superannuation balance (‘TSB’) may be increased by their share of the outstanding balance of a limited recourse borrowing arrangement (‘LRBA’) that commenced on or after 1 July 2018. However, the increase... read more →

January 8, 2019
SMSF