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

Jul 14

NSW COVID-19 SUPPORT PACKAGE – Announced 13 July 2021

The Morrison and Berejiklian Governments announced yesterday a combined economic support package worth up to $5.1 billion aimed at saving jobs and protecting businesses through the current COVID-19 lockdown. The key components of the 2021 COVID-19 package are outlined below. Expanded Business Grants Eligible businesses with annual wages up... read more →

July 14, 2021
Accounting, Business Advice, COVID-19, Economy

Jul 09

Investing With Confidence

When it comes to investing for a comfortable retirement, could you be your own worst enemy? Here’s how your unconscious fears and biases could impact your financial decision-making – and what you can do to keep them in control. When you’re thinking about the financial risks you may face in... read more →

July 9, 2021
Financial, Financial Advisor, Investment, retirement

Jun 23

Sacrifice your mortgage to build wealth?

Back in the days of “normal” interest rates the simple answer to the question “what do I do with any surplus savings?” was “pay off debt”. That’s still a sound strategy for anyone paying high rates of interest on credit cards or personal loans. But if your only debt is... read more →

June 23, 2021
Financial, Financial Advisor, retirement, superannuation

Jun 08

Calculating Income Tax Deductions

The calculation of income tax for businesses becomes more complex as business activities and income streams grow. There are two primary considerations that arise when calculating income tax: assessable income and deductions. Assessable incomeThis includes all aspects of income from all your business activities and any other business income: •... read more →

June 8, 2021
Accounting, ATO, End Of Financial Year, Taxation

Jun 01

Tax Deduction Opportunities with Super in 2021

When you retire, your superannuation is likely to become an important source of your income. That’s why it’s a good idea to top it up while you are working. But did you know, there are also some excellent tax benefits you can take advantage of right now – just by... read more →

June 1, 2021
Financial, superannuation, Tax Planning

May 25

Finalist for Australian Accounting Awards 2021

Leenane Templeton has been shortlisted for the Australian Accounting Awards 2021. The firm has been named as a finalist in the Australian Accounting Awards for Boutique Firm of the Year 2021. The Australian Accounting Awards recognises and acknowledges the achievements of individuals and firms whether they are in the profession’s... read more →

May 25, 2021
Accounting Awards

May 20

The Federal Budget Tax Measures

With there being so many changes to tax as presented in the Federal Budget, this is a concise summary of those that may have the biggest impact or relevance to you. • The government will provide an income tax exemption for qualifying grants made to primary producers and small businesses... read more →

May 20, 2021
Financial, Taxation

May 11

Federal Budget Highlights 2021/22

We have pleasure in enclosing a summary of the significant announcements from the Federal Government's 2021/22 Budget. While there were no particular surprises in this year’s budget, just about everyone is a winner. Many of the announcements were released prior to the budget but it continues on with the COVID-19... read more →

May 11, 2021
Budget, Economy, Financial

May 04

JobKeeper is over – Where to from here?

Many businesses have been kept afloat by the government over the past twelve months, buoyed by the many benefits and concessions from schemes they have deployed. The two largest schemes have been JobKeeper and Cash Flow Boost. Cash Flow Boost ended with the September BAS (in 2020) and JobKeeper officially... read more →

May 4, 2021
Financial

Apr 28

Why do I need tax and compliance planning for my business?

This time of year many clients take the opportunity to have a proactive tax and compliance planning strategy before the end of the financial year in order to maximise tax opportunities and minimise risk. The LT team help clients through this period and ensure that they maximise the tax opportunities... read more →

April 28, 2021
Accounting, End Of Financial Year, Tax Planning, Taxation

Apr 08

Planning and Managing Your Business Finances Post-COVID-19

An important part of planning and managing finances as a business should be in understanding how the financial situation that the business is in can be improved. The challenges faced by many in the COVID-19 economic climate is something that should be addressed in future financial planning during this particular... read more →

April 8, 2021
business accountant, Business Accounting, Business Advice

Mar 25

Three trends driving real estate investments in a post-pandemic economy

Office real estate is undergoing a fundamental shift, while COVID-19 has accelerated a number of global real estate investment trends, including the continued growth of e-commerce and falling home ownership. However, new trends have also emerged, in particular, the decentralisation of work. Since the pandemic proved the viability of remote... read more →

March 25, 2021
Financial, Financial Planning, Investment, Investment Property Tax

Mar 15

ATO recommends digital record keeping

Businesses should aim to move towards digitising their tax, super and employee related documents as per recommendation by the ATO. Digital record-keeping has many advantages: • Streamline accounting practices by utilising appropriate software so that you can focus on the business as opposed to ensuring the accuracy of manual/paper records.... read more →

March 15, 2021
Accounting, ATO, Business Accounting, Taxation

Mar 01

We have moved Head Office.

Our Head Office has today moved from King Street, Newcastle, to new purpose built offices at 484 Hunter Street, Newcastle. All of our phone numbers, emails and PO Box will remain the same only our physical address which is also used for client meetings is changing. We look forward to... read more →

March 1, 2021
Financial

Feb 11

Which legal expenses are tax deductible for businesses?

Knowing what type of legal expenses are tax-deductible is valuable information when it comes to budgeting and allocating funds for emergencies. Legal expenses that pay for business operations integral to producing an assessable income are tax-deductible. However, if the legal fee is capital, domestic or private in nature, then it... read more →

February 11, 2021
Business Accounting, Business Advice, Taxation

Feb 02

How to grow your small business

Cultivating a small business beyond its initial customer base can be very challenging. These are some things you can do to grow customer base and your business income. Get to know your customersTalk to your customers about what they like about your business and what you can improve on. This... read more →

February 2, 2021
Accounting, Business Accounting, Business Advice

Jan 20

Starting your investment journey

Investing your money is a great way to grow your wealth, but it can be intimidating to someone who is starting fresh. Investing is unique to each person because of the time and money everyone is willing to invest is different. Before you begin investing you should think about what... read more →

January 20, 2021
Financial

Jan 14

Ways to improve cash flow

Signs of growing revenue and profits are ones that indicate your business is succeeding. This does not reduce the importance of continually making small changes that will improve profitability of the business. These are some changes you can make to improve the cash flow of your business. Send invoices straight... read more →

January 14, 2021
Accounting, Business Accounting, Business Advice, Financial

Jan 06

Creating a budget for the new year

Businesses should review their yearly financials and aim to create a budget which reflects any adjustments that need to be made. Gaining a good understanding of your revenue is the first step that you should complete when creating a budget for the new year. Ensure you have taken all income... read more →

January 6, 2021
Business Accounting, Business Advice, Financial

Dec 17

LT’s Gift at Christmas

With the challenges that have been faced during COVID-19, we have given a $3,000 donation to a Newcastle not-for-profit charity organisation called "Survivors R Us Incorporated". This registered charity primarily focuses on the homeless and on helping domestic violence survivors. Since opening on 30th March 2017, SRU helped 12,500 people... read more →

December 17, 2020
Financial