Entries by andrewn

When the elements strike next, will your business be prepared?

By Chris Dougherty, General Manager, Westlawn Insurance During the first few months of 2013, Northern NSW certainly experienced the wrath of nature with flooding and storm damage hitting many parts of the region. And as the weather now begins to warm up once again, we are reminded that the summer bushfire season will soon be […]

Making the move into aged care

By Liz Maroney, Westlawn Wealth Adviser With Australia’s ageing population and increasing life expectancies, the number of older Australians is expected to double over the next 20 years. Whilst this is great news, it also means more of us will require some form of aged care. Moving into aged care will become an important consideration […]

Your quick guide to tax rates & benefits for the coming year

By Paul Trimble, Director, Westlawn Business Services Your quick guide to tax rates and benefits for the 2013-14 financial year provides a handy overview of the tax rates for residents, non-residents and children as well as some of the benefits and tax offsets you and your family may be entitled to receive over the coming financial […]

Another financial year … and more changes to your super

By Justin Inskip, Director, Westlawn Business Services The start of a new financial year brings further changes to the rules governing your superannuation. Here are some of the key changes taking effect from 1 July 2013.   Super Guarantee on the rise The change that will affect most Australians’ super is the increase in the […]

Fuel your tax savings: Are you up to speed on fuel tax credits?

By Andrew Hayes, Director, Westlawn Business Services Does your business use fuel in machinery, plant, equipment or vehicles? If so, are you claiming the maximum fuel tax credit available? Most fuels used in business are eligible for fuel tax credits, but many businesses miss out on this significant revenue source. Fuel tax credits effectively offset […]

Falling Aussie dollar good news for local businesses

By Geoff Scofield This article first appeared in the Daily Examiner, Northern Star & Coffs Advocate on 2 July 2013. Over recent weeks, the Australian dollar has fallen sharply against the US dollar and other major currencies. The most recent fall was triggered by the US Federal Reserve’s announcement that it might start removing some […]

Are you ready for the end of financial year?

By Paul Trimble, Director, Westlawn Business Services Is your business ready for the end of financial year? For this special edition of Westlawn Monthly News, we provide a Tax Planning Checklist for your business to consider before 30 June. If you’re a fund trustee, you’ll need to make any resolutions to distribute trust income by 30 […]

Your end of financial year tax planning checklist

By Andrew Hayes, Director, Westlawn Business Services With the end of financial year upon us, now’s your final chance to ensure you’ve taken all possible steps to minimise your business tax liability for the 2012/2013 tax year. Let’s look at some of the more common ways to lower your business taxes with our end of financial […]

Distributing trust income? Make your trustee resolution by 30 June

By Justin Inskip, Director, Westlawn Business Services For trusts distributing income, trustee resolutions must be made by 30 June 2013.  According to the ATO, informal written records of a trustee resolution made before 30 June (which are later documented in a formal minute or resolution) will be acceptable evidence of a resolution being made before […]

End of year looms for super tax planning

By Paul Trimble With the end of the financial year looming, now’s is the time to implement your superannuation strategies before the 30 June deadline. Here are a few things to consider for your super as we head towards 30 June 2013. If you have a self managed super fund (SMSF), off-market transfers will be […]