ATO Finalises Section 100A Guidance for Family Trusts
Do you operate your business via a family trust? The ATO released its final guidance material on the application of section 100A on 8 December 2022 – TR2022/4 and PCG 2022/2. In doing so, it has fortunately clarified a number of issues. To recap, the ATO in February 2022 updated its guidance ...
Paid Family and Domestic Violence Leave
Employees of non-small business employers can now access 10 days of paid family and domestic violence leave in a 12- month period. Employees of small businesses (employers with less than 15 employees) can access the leave from 1 August 2023. Key points Full-time, part-time and casual employees ...
Seasons Greetings
As the year comes to an end, Lockwood Partners and Provide Group take this opportunity to wish you and your family a happy festive season! Our office will be closed from 12pm Wednesday 21 December and re-open 8am Monday 16 January 2023. For those of you that have not yet had a chance to visit ...
2022-23 Federal Budget
In his first Budget since the May 2022 election, Treasurer Jim Chalmers has opted to not to rock the boat, perhaps in recognition of the UK government’s recent Budget disaster. Instead, he has reset the economic forecasts to reflect the changing economic environment and targeted spending on ...
A move for us: a change for you
The wait is over, Lockwood Partners and Provide Group will open for business on Monday 24 October at our new location: Level 2, 456 High Street Echuca We appreciate the patience and support of our valued clients over these past few months, and we look forward to welcoming you to our new ...
ASIC Director ID Deadline Approaching
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporations are now required to obtain a director ID. A director ID is a unique identifier that a director will apply for once and keep forever and is aimed at preventing ...
Get ready for super changes from 1 July 2022
With the new financial year approaching, there are two important super guarantee (SG) changes that will apply to businesses – how much you need to pay and who is eligible for super. The SG rate will increase from 10% to 10.5% from 1 July 2022. Employers will need to use the new rate to ...
Federal Budget 2023 Summary
The 2022-23 Federal Budget was delivered by Treasurer Josh Frydenberg with a focus on relieving short-term cost of living pressures. Temporary reduction in the fuel excise, one-off cost of living payments and increases to the low and middle income tax offset were just some of the key items. ...
The 2022 Federal Budget and What it Means to You
Following Treasurer Frydenberg’s budget announcement on May 11, the focus of the federal budget for the 2021-2022 financial is largely centred around rebuilding and restabilising Australia’s economy. The budget announcement heralds incoming changes for small businesses and individuals with ...
ATO Returning to Regular Compliance Activities
Business owners should be aware that the Australian Tax Office recently announced a return to regular compliance activities. The ATO’s focus had shifted from compliance work to stimulus payment processing throughout the COVID-19 economic downturn. Few businesses have been left unscathed by the ...