Tax & Accounting Archives - Lemonade Beach

Understanding Instant Asset Write-Off

by Cameo Ashe | Apr 30, 2019 | Tax & Accounting

If you’re currently in ‘tax-planning’ mode, your accountant has likely mentioned ‘instant asset write-off’ to you. Accountants got a bit excited in early April when the asset threshold for this measure was increased to $30,000 as it extends the types of asset...

Have you provided additional benefits to employees? You may need to take action for Fringe Benefits Tax.

by Cameo Ashe | Apr 9, 2018 | Tax & Accounting

To keep things interesting the Fringe Benefits Tax (FBT) year ends on 31 March each year with returns due in May. If you’ve provided benefits to employees (including yourself) then you will need to act to ensure you comply with the FBT rules. Rather than detail how...

Downsizer Super Contributions: Additional Options to Boost your Super

by Cameo Ashe | Apr 9, 2018 | News, Tax & Accounting, Uncategorized

Whilst we were all enjoying the Christmas break, the passing of the downsizer superannuation contribution (DSC) legislation occurred. So what is this additional form of contribution and what are the specific criteria that is required to be met? What is it? Effective...

New GST Withholding on Residential Property

by Cameo Ashe | Dec 18, 2017 | News, Tax & Accounting

You may remember as part of the 17/18 Budget the Federal Government announced changes to how GST collected on ‘New Residential Property’ would be passed onto the ATO. Well the exposure draft of the legislation has been released so we now have some more...