The Fair Work Amendment Act received Royal assent on 4 December 2012 with several of the changes coming into effect on 1 January 2013. In addition to renaming Fair Work Australia the Fair Work Commission (the Commission), there are legislative changes in relation to unfair dismissals, general protections and enterprise... read more →
Feb
15
Jan
24
If you’re going to have a new year’s resolution for your small business it could well be to improve cash flow – the lifeblood of any business. Smoothing the flow of money in and out of your business will ease your capital requirements, create a more predictable business pattern and... read more →
Dec
10
FPA announces 2012 NSW Best Practice Award Winners, recognising excellence in financial planning. The Financial Planning Association of Australia (FPA) was pleased to announce that Andrew Frith of Leenane Templeton Wealth Management, based in Newcastle NSW, is the NSW State Runner-up of the 2012 Financial Planner Best Practice Awards.... read more →
Oct
30
When hiring, employers need to understand the differences between an employee and a contractor to avoid costly consequences. Many businesses get it wrong when determining if a worker is an employee or contractor because they are not ensuring the arrangements have been set up correctly. It is essential to get... read more →
Oct
23
The Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) included a range of announcements, see some below. The most significant outcome is that income from superannuation pension assets will continue to be tax-exempt after the death of the member until the benefit has been paid by the fund. (see... read more →
Sep
13
The new financial year saw new reporting requirements for the construction industry. The Government announced the introduction of taxable payment reporting in the last Federal Budget. Businesses that operate in the building and construction industry should be aware of new reporting requirements that came into effect from 1 July 2012. ... read more →
Aug
31
Australian Dollar Daze Ouch, the Australian dollar is sitting determinedly above $US1 again, twisting the knife for Australian manufacturers who have to compete with cheap imports and exporters whose goods and services are increasingly expensive for overseas buyers. Leenane Templeton Chartered Accountants and Business advisors says the bad news is... read more →
Aug
13
Important Changes For Company Directors On 29 June 2012 the Tax Laws Amendment (2012 Measures No.2) Act 2012 received royal ascent. These taxation laws amendments may have serious consequences for company directors if they don't meet the requirements and are also aimed to deter companies from fraudulent phoenix... read more →
Jul
05
The role of GST in regards to consumer loyalty programs has been clarified with the passing of the 4 April 2012 ruling. A loyalty program is an agreement between customers and vendors. The customer benefits from remaining loyal to a brand through a points system or a series of other... read more →
Jun
18
The end of the financial year is almost upon us and there are a number of tax planning strategies and considerations that may be of benefit to you. Please find a few tax tips below, however, please remember that your individual circumstances must be considered and we would advise that... read more →