Wealth Management

March Newsletter 2021

March Newsletter 2021 1000 365 Lanteri Partners

Government agencies sometimes use ABN registration to contact businesses for emergency help or even grants of support, so it’s important to keep your business’s ABN details current. And the perennial problem of dealing with cash flow gets some advisory help from the ATO.

A new Director Identification Number regime is something companies may need to get familiar with very soon, and we re-visit the changes that COVID-19 has made to FBT. There’s also details about the unstoppable SMSF sector, and the tax treatment of unexpected lump sums.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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February Newsletter 2021

February Newsletter 2021 1351 901 Lanteri Partners

The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on the labour market.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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December Newsletter 2020

December Newsletter 2020 1757 1316 Patrick Kerr

The loss carry back measure introduced in the 2020 Federal Budget can be a very helpful COVID-recovery option. We run over the details. But if the COVID wash-up means you need to call time-out on your business, there are some important facts to know here as well.

We also look at interest deductions available for rental properties, a development in the CGT rules around active assets and vacant land, and a tightening of compliance in regard to SMSF audits.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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November Newsletter 2020

November Newsletter 2020 5017 3345 Patrick Kerr

Introduced with the Federal Budget, the “full expensing” 100% write-off of eligible business assets is a welcome measure that many business owners may want to take advantage of. Also, with the extension to the JobKeeper scheme, a set of alternative decline in turnover tests are now available, should a business not fit the general patterns of business activity.

We also look at property transactions and the payment of GST on settlement and remind taxpayers that although the ATO’s auditing activity had taken a back seat during the worst of the COVID-19 crisis, there is reason to expect that this will be taken up again very soon.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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2020 Federal Budget

2020 Federal Budget 806 476 Patrick Kerr

We all understand that budgets are an exercise in predicting the future. Given what has happened in 2020, gazing into the crystal ball and extracting something reliable is fraught with difficulty.

Extensions to the tax rate thresholds will give millions of taxpayers on lower incomes a much-needed boost after a very challenging year. The temporary full expensing of capital assets sets a new mark. Yet this benefit will be limited to those businesses that are back operating at a good capacity and do have enough capital to buy these assets. The willingness of banks to lend for this purpose will be critical.

Many businesses will seek to use the temporary loss carry-back measures that allow companies with turnover of up to $5 billion to offset losses against previous profits on which tax has been paid. Meanwhile, increasing the small business entity threshold from $10 million to $50 million is a significant and unexpected measure that will be beneficial to about 20,000 businesses.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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October Newsletter 2020

October Newsletter 2020 1757 1316 Patrick Kerr

The JobKeeper scheme has been extended, and there are some important changes that participants will need to know. In good news, the treatment of JobKeeper income has been clarified.

We also look at two further data matching programs that have been launched, smooth concerns some may have had over the easing of loan repayment demands due to COVID-19, and check on the state-by-state treatment of the electronic signing of official documents.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

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September Newsletter 2020

September Newsletter 2020 701 876 Patrick Kerr

Payments such as JobKeeper and the cash flow boost are measures welcomed by many, however, they can also bring with them some unique taxation issues. We run over what to look for.

Also tackled are claiming tax losses, where vehicles stand in relation to the boosted instant asset write off, the question of liquidity and trusts under COVID-19 conditions, and how SMSFs can best cope with the outcomes from rental relief support measures.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.


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August Newsletter 2020

August Newsletter 2020 1000 365 Patrick Kerr

The JobKeeper payment, which was originally due to run until 27 September, will now continue to be available until 28 March 2021. There will however be some changes to eligibility, as well as a tightening of payment rates. We run through the details.

We also reveal a largely unforeseen danger for insurance cover in the early release of super scheme, and look at the unfamiliar territory, from a tax point of view, that COVID-19 has put property investors.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.


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July Newsletter 2020

July Newsletter 2020 4256 2832 Patrick Kerr

Despite the current COVID-19 constraints, completing your tax return remains a task we can help achieve to your best advantage. We look at some tax tips for the current tax lodgement period. There is also some good news on the instant asset write-off, and a timely reminder about the importance of being covered against cyber crime.

The requirement for corporate entities to hold general meetings has been helped along by allowing this to be completed remotely, and we also remind relevant taxpayers that varying of instalments, if need be, can help you out of a tight spot.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.


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June Newsletter 2020

June Newsletter 2020 4256 2832 Patrick Kerr

We also consider the issue of passive income and where this figures when qualifying for JobKeeper. There has also been a temporary change made to bankruptcy laws because of the economic fall-out of COVID-19.

We also consider the issue of passive income and where this figures when qualifying for JobKeeper. There has also been a temporary change made to bankruptcy laws because of the economic fall-out of COVID-19.

Also, as tax time does not simply disappear because of a certain virus, we offer some end-of-financial-year last minute tax tips, a warning on issues stemming from property development undertaken by SMSFs, and how resident or non-resident status affects tax outcomes.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter


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