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Student Loan Reform: What Employers and Staff Should Know
The Government has passed new laws to reduce student debt and ease repayment thresholds, following the 2025/26 Federal Budget. The...
Lockwood and Ward
Oct 71 min read


Financial Abuse and the Tax System: What SMEs Should Know
Financial abuse is a serious issue that often goes unnoticed in the tax and regulatory system. Regulators and practitioners are now...
Lockwood and Ward
Oct 31 min read


Non-Compete Reforms: What They Mean for Employers
The Government is reviewing the use of non-compete clauses and other restraints in employment contracts, following measures announced in...
Lockwood and Ward
Sep 301 min read


New SMSFs – Key Steps to Stay Compliant by 31 October
Lodgment Deadline Approaching If you’ve recently established a self-managed super fund (SMSF), your first annual return is due by 31...
Lockwood and Ward
Sep 241 min read


ATO Warning: GST Refund Scams Targeting Small Businesses
The ATO has issued a new taxpayer alert warning businesses to be cautious of schemes designed to exploit the GST system. These scams...
Lockwood and Ward
Sep 191 min read


Interest rates come down: how could this affect your business finances?
The Reserve Bank of Australia recently cut interest rates to 3.6%, down from 4.1%. This takes the cash rate to 3.6% for the first time...
Lockwood and Ward
Sep 32 min read


Possible extension of the $20k instant asset write-off
In the 2025 Federal Budget, the Albanese Labor Government made a promise to extend the existing $20k instant asset write-off , if...
Lockwood and Ward
Aug 202 min read


Review your business expenses – and save
Running a business costs money. There are always costs, overheads and supplier bills that mount up – and these expenses will gradually...
Lockwood and Ward
Aug 83 min read


What makes a business expense tax deductible?
You’re a business owner, so you’ll incur a fair number of business expenses over the course of your average week. Costs for client...
Lockwood and Ward
Jul 292 min read


New small business owners to get compliance support by the ATO
As part of its "ready for business campaign", the ATO will email holders of ABNs, to provide tips on ABN obligations, business...
Lockwood and Ward
Jul 292 min read


Protecting you and your business: using trusts
Have you ever wondered about the best ways to protect you and your business? In this series, we’ll look at the key ways to use trusts,...
Lockwood and Ward
Jul 294 min read


How Division 296 Is Reshaping Fund Strategies for Business Owners
SMSFs Respond to Div 296 The introduction of Division 296 is prompting many self-managed super fund (SMSF) members to rethink their...
Lockwood and Ward
Jul 282 min read


Director Identification Number
You may be aware that the Australian Business Registry Service (ABRS) has introduced the Director Identification Number (Director ID) as...
Lockwood and Ward
Jul 282 min read


Driving your business with reporting
Do you wait for your Annual Accounts to arrive before you look at your numbers for the year? By the time your accounts have been...
Lockwood and Ward
Jul 282 min read


Get Your Business Records Ready for Your Tax Return 2025
Organising your documents now will mean you can get your tax return completed earlier and access any refunds due or start planning for...
Lockwood and Ward
Jul 282 min read


How Single Touch Payroll will impact you
Single Touch Payroll or STP is a new regulation that will change how information such as wages, super contributions, PAYG withheld etc is...
Lockwood & Ward
Jun 20, 20193 min read


Unreported ‘cash in hand’ payments to workers no longer tax deductible
Be more informed on tax changes that may impact you. The Australian Taxation Office have released the below article regarding cash in...
Australian Taxation Office
Jun 20, 20193 min read


Further delays to division 7A
Changes to Division 7A will be further delayed, as outlined in the 2019-20 Federal Budget. This section of the Tax Act requires benefits...
Lockwood & Ward
May 21, 20191 min read


Getting PAYG withholding right
As the end of the financial year approaches, it is important to be aware of changes to compliance obligations for small business owners....
Lockwood & Ward
May 21, 20192 min read


Essential record keeping at year-end
Staying on top of record-keeping all year round can save time, reduce stress for small business owners and help to maximise your tax...
Lockwood & Ward
May 20, 20192 min read
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