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Latest News || lilliputianfinancialservices.com.au

The ATO has released updated figures for daily travel allowances, which apply for the current financial year ending 30 June 2019. Travel allowances can be paid by an employer (e.g. a practice trust) to an employee [...]

On Thurday 5th July, our firm agreed to become an Authorised Reprensentative of Wealth Today Pty Ltd (ABN 62 133 393 263), AFSL 340289, following the collapse of Dover Financial Advisers, the AFSL holder we [...]

Last Friday afternoon, I was advised that Dover Financial Advisers is going out of business by email. Our firm was licensed through Dover to provide financial advice to clients. We are now actively searching for [...]

Our firm generally advoctates taking a passive index based approach to share market investing as it lowers risk and costs. There is also a wealth (pun intended) of research indicating that paying high investment management [...]

Members of a couple are able to transfer after-tax concessional contributions between each other. In cases where a significant age difference exists, the conventional wisdom has been to split contributions from the younger member of a [...]

Christmas parties are usually either not tax deductible as "entertainment" or there can be Fringe Benefits Tax payable. The only way to make a Christmas party tax deductible is to put on what could be considered [...]

Legislation to implement the Federal Government's changes to superannuation has now passed through Parliament and is set to become law. While further restrictions have been implemented, at least the retrospective element of the original proposal [...]

Most active fund managers fail to provide any extra value to justify fees charged. The latest mid year 2016 S&P Dow Jones report makes difficult reading for most active managers and their investors. 60% of [...]

The ATO has released updated figures for daily travel allowances, which apply for the current financial year ending 30 June 2017. Travel allowances can be paid by an employer (e.g. a practice trust) to an employee [...]

So far, 2 (Westpac and CBA) out of our 4 major banks have lifted interest rates in response to increased capital requirements. The banks are unwilling to cede any ground when it comes to profitablilty. If [...]

There are a lot of phone and email scams happening at the moment. Scammers purport to be representing the ATO. Two clients have recently been targetted by phone scammers. We have received fraudulent emails asking for [...]

Big 4 accounting firm KPMG is the latest organisation to call for tax reform. Negative gearing, superannuation tax breaks, capital gains tax discounts and increasing the rate of the GST are some of the topics [...]

While reviewing a new client’s prior year tax returns last night, I noticed that there was no depreciation claimed on a rental property. We are now able to revise returns for four years and claim [...]

Please bear in mind that most deductible expenses do not necessarily have to be paid by 30th of June 2015 in order to be deductible in the 2015 year. The general section of the tax [...]

As tax is paid quarterly through PAYG instalments, it is not necessary to wait until lodgement of the 2015 tax return in order to get the tax benefit of, say, a large or double superannuation [...]

The ATO has released updated figures for daily travel allowances, which apply for the current financial year ending 30 June 2016. Travel allowances can be paid by an employer (e.g. a practice trust) to an employee [...]