LKM Bookkeeping

02/08/2020

Are you an employee working from home?

There are currently three ways you may be able to claim this tax time

If you're an employee who works from home, you may be able to claim a deduction for home office expenses.

26/02/2020

Superannuation amnesty now law!

Superannuation Amnesty - Now Law! Today Parliament passed legislation to enact the Superannuation Amnesty. The Amnesty is designed to encourage employers...

15/02/2020

AUSkey will be replaced by MYGOVId on the 27th of March. Start setting it up now so you can still access the ATO business portal & other related sites.

Dear AUSkey,

We had 10 wonderful years together, even through our ups and downs. But this Valentine’s Day, we need to talk…

It’s not me – it’s you. It’s time I found someone better suited for me, and now that I have, it’s time to move on. With myGovID 💓

Just check out their website to see what I mean: www.ato.gov.au/General/Online-services/Accessing-online-services-with-myGovID-and-RAM/

Xoxo – the ATO

04/01/2020

Hubdoc Certified Partner

04/01/2020

Reckon Cloud Advisor

27/12/2019

ABN lookup is usually the first resource we use to check your details - https://abr.business.gov.au

Below is a link to why you should use it also.

When Prince told us to “party like its 1999”, I don’t think he had tax reform in mind. But in 1999, A new tax system had those of us involved in the tax system ‘livin’ la vida loca”! Most us were preparing for the Y2K apocalypse, or lining up (not mentioning any names) at the hair salon ...

07/12/2019

It’s worth checking if your staff Christmas party may attract FBT

This fact sheet contains information for employers about the possible fringe benefits tax implications of providing Christmas parties for their employees and associates.

28/11/2019

‘Business lending is not covered by the National Credit Code, which only applies to home loans, credit cards and other types of personal finance’. I learnt something new!

Kirsty Garrash and Francis Murphy had nearly paid off their house. Then they borrowed from a small business lender, with catastrophic results.

27/11/2019

It’s a myth that employees have to attend work meetings after hours for free.

If you are holding a work meeting, you should pay employees accordingly!

If you are attending a work meeting, you should expect to be paid accordingly!

It’s a myth that employees have to attend work meetings after hours for free.

If you’re required to attend a work meeting, it is work time and should be paid. And that means 💵 for the time, not free dinner or some store products (although it’s fine to get these as well as pay).

Do you know the other common workplace myths you should look out for? Check out our info to make sure you’re getting the right entitlements: https://www.fairwork.gov.au/find-help-for/young-workers-and-students/myths-and-tips-for-young-workers

21/11/2019

When our own government can’t get it right with segregation of duties, internal processes & control measures! Another reason to have someone external to your business check nothing dodgy is happening, which you may have missed (possibly $25m 😳)

The total amount of taxpayer money allegedly rorted from the West Australian public sector by a senior public servant could reach $25 million, police prosecutors claim.

18/11/2019

Whilst there is a pending appeal in place, it is good to know currently ‘Full-time and part-time employees are entitled to 10 working days of paid personal/carer’s leave for each year of employment’ due to the recent Mondelez court case. So it’s not currently calculated on an accrual base like previous.

Information and advice about Australia’s workplace rights and rules.