Recent Posts by Katie Lockwood

Tax incentives for early stage investors

In March 2016, the parliament introduced a bill proposing new tax incentives for innovation aiming to encourage new investment in Australian early-stage innovation companies. The new legislation can be quite confusing, so to make it easier we have summarised the changes here.

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End of Financial Year Tax Tips

The end of the financial year is a common time for businesses to evaluate their year’s performance and take advantage of any tax-saving opportunities available. For your benefit, we have collated this list of core tax time tips to help your business get the most of out of tax time and reduce that tax bill!

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End of Financial Year Bookkeeping Checklist

As the end of the financial year approaches, there are a number of key things to remember as a small business owner when getting your books and accounts in order. Here we have provided a checklist of items for your reference.

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Transfer of business assets & private company shares

The NSW Treasurer recently confirmed that transfer duty on the transfer of business assets will be abolished on 1 July 2016, along with transfer duty on the transfer of private company shares and mortgage duty. This creates opportunities for those who would like to restructure business assets.

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Superannuation reform changes and how they affect you

The federal budget introduced a number of superannuation reform changes. Below we have outlined when these changes become valid and how they affect you.

New lifetime cap for non-concessional superannuation contributions

The government announced in the Federal Budget that it will introduce a $500,000 lifetime non-concessional contributions cap. The lifetime cap will take into account all non-concessional contributions...
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The Federal Budget has delivered good news for businesses

The beginning of the 2016-17 income year will see companies with turnover less than $10 million taxed at a rate of 27.5%. This means around 870,000 companies will enjoy a decrease in their tax rate. The government will also continue to extend the turnover threshold, allowing more businesses to access to the lower company tax rate...
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Valuing your Assets

If your business has assets – such as vehicles, factory equipment, or property – it’s important to know when you might need a market valuation done and how to get one you can rely on.

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Get in before the Banks tighten on lending

In attempt to avoid mortgage risk, financial analysts believe that Australia’s big banks are looking to tighten lending through heavier restrictions.
Major lenders may soon be introducing different lending criteria and stricter servicing requirements as they look to reduce the amount of risk they carry on their mortgage books.

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Invoice Reminders in Xero

For Small Businesses cashflow is key. Receiving payments on time is vital to run the business and pay employees. That’s why Xero have recently launched a feature for invoice reminders. (more…)...
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NSW Small Business Grant

If you own a small business in NSW you could be eligible for a Small Business Grant. This grant is designed to encourage small businesses in NSW that do not pay payroll tax to hire new employees and expand their business. (more…)...
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10 easy ways to pay less tax

Our accountants at Lockwood & Ward have come up with the 10 easiest ways that you can pay less tax. Here’s how you could save big dollars throughout the financial year.

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Are you a Small Business Owner? Now is the Time to Buy!

No doubt small businesses have heard all about the hype surrounding the government's $20,000 instant asset write off. We've deceived to delve deeper into this new legislation and explore and clarify the different aspects to grant you a better insight and to ensure that you receive the maximum tax benefit from this ruling.

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ATO Shakedown Imminent for Property Owners

Holiday homes are a great little investment and tax minimising treat for Australians to sink their teeth into. However, the Australian Taxation Office plans to strike out on investors who are unconsciously over-claiming on deductions. So here's what you can do to reduce your chances of being questioned or audited.

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Top tips for keeping the taxman happy this Christmas

As we enter the party season there is likely to be a hangover or two, if your business is forking out for Christmas festivities, is a tax hangover also on the menu? We’ve done the hard work for you and here are some things to consider in order to avoid an unwelcome festive season tax bill.

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