Knowledge Base
Blog & News
LMS Advisory PTY LTD Blog & News
Director Identification Number – 30 November 2022 Deadline
This an important reminder that you need to have a Director ID issued to you by 30th November 2022 Time is running out for Australian company directors to apply for their director identification number (director ID), with 30 November less than a week away. A director ID is required for the director, or alternate director…
Top 5 Announcements from the 2022/23 Federal budget
The Government announced a budget deficit of $36.9 billion for 2022-23, widening to $44.0 billion in 2023-24, $51 billion in 2024-25 and $50 billion in 2025-26. While the 2022-23 deficit is less than half the $78 billion forecast in the May budget, deficits are still forecast to spiral over the next three years as interest…
2022 Year End Strategies
THE 2021/2022 YEAR END TAX GUIDE FOR YOU AND YOUR BUSINESS Every year LMS Advisory seeks to gain the best tax advantages for our clients to optimise their tax position. For some this is showing the best possible trading result, to obtain finance to invest or buy a new home For others, its spending…First home buyers and the Liberal Party Home Buyers Incentive
First home buyers given new incentive The Coalition have revealed a new housing scheme that will allow first home buyers to use their superannuation so they can alleviate the costs of entering property market sooner. Under the proposed Super Home Buyer Scheme, first home buyers will be able to invest up to a maximum of…
Key take-outs from the 2022 Federal Budget
The 2022 Federal Budget focused largely on supporting low and middle income earners, cost of living pressures, health, social security recipients and those looking to buy a home. Clearly a pre-election budget; the budget builds upon Australia's strong economic recovery and gives back to those in need. The economic environment continues to be volatile, and…
FURTHER NSW BUSINESS SUPPORT
More NSW business support after Omicron - Commencing Mid Feb 2022 SOURCE > COVID-19 business grants and loans | NSW Government The NSW Government has announced new programs, grants and rebates to support business recovery in NSW, including: a new 2022 Small Business Support Program expanded small business fees and charges rebates extending the Commercial Landlord Hardship grant…Stapled Super
Stapled Super - What is it? From 1 November 2021, if new employees start and they don't choose a super fund, employers may have an extra step to take to comply with choice of fund rules and request the employees’ stapled super fund details from the ATO. For a summary of what you need to…
Directors Identification Numbers
Correct as at 01 November 2021 A director identification number (director ID) is a unique identifier you will keep forever. It will help to prevent the use of false or fraudulent director identities. What are they? The director ID is a unique 15-digit identifier that will stay with a director for life. A director ID…
Client Update – November 2021
LMS Client Update - November 2021 What a year it has been! We can all agree that the most recent Covid-19 lockdowns were probably the most stressful and challenging work periods for all of us in recent memory. It was the busiest LMS has ever been, and we are very proud of our team's efforts…
