Oct 22

New Unpaid Entitlement

From 1 August 2018, The Fair Work Commission introduced a new unpaid family and domestic leave entitlement for employees in all industry and occupation awards. Under the new clause employees will be entitled to five days of unpaid family and domestic violence leave annually. The entitlement applies to all employees... read more →
Oct 16
Oct 10
Oct 03

LT sponsors local junior cricket

We are pleased to announce Leenane Templeton Chartered Accountants & Financial Advisors as the major sponsor of the Newcastle Junior Cricket Association representative teams for the next 4 seasons (until season 2021/2022). Andrew Frith, CEO of Leenane Templeton has been involved in representative cricket for a number of years. Andrew... read more →
Oct 03

What is responsible lending and why does it matter?

Whether it’s due to over-enthusiastic lenders or desperate borrowers, failure to adhere to robust lending standards can land some borrowers in serious financial distress. In many cases the difficulties experienced by these borrowers could have been avoided if the lenders had complied with their responsible lending obligations. In brief, this... read more →
Sep 24

Changes to GST at settlement forms

The Australian Taxation Office (ATO) has announced changes to the way GST is collected at settlement. According to the ATO, those purchasing new residential premises or potential residential land who are required to withhold part of the purchase price for payment (to the ATO) must submit a number of online... read more →
  • September 24, 2018
  • GST
Sep 17

How are super death benefits taxed?

When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive. In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and... read more →
Sep 10
Tradie accountants Newcastle Australia

Claiming the $20,000 instant asset write-off

Businesses with an annual turnover less than $10 million (from 1 July 2016) can claim the $20,000 instant asset write-off. Eligible businesses can take advantage of the instant asset write-off for the business portion of their assets, providing they bought and installed the assets for less than $20,000 each. Avoid... read more →
Sep 04

A different way to help the grandkids

Many grandparents want to give their grandchildren a head start in life, and a common way to do so is to help by paying some (or all) of their school fees. This can, of course, simply be done by making a contribution at the time the fees are payable. However,... read more →
Aug 30

Strategies to reduce your total superannuation balance Pt 3

Due to the importance of total superannuation balance (‘TSB’) testing under the major superannuation reforms, fund members have a strong incentive to carefully monitor their TSB over time and plan accordingly to moderate their TSB to fall within certain key thresholds. In part 1 of our series, we discussed the... read more →
  • August 30, 2018
  • SMSF