Edition 119

Tackling inflation was top of the agenda as Treasurer Jim Chalmers handed down Labour’s 2022-23 budget on Tuesday 25 October 2022.

After inflation hitting its highest point since 1990, Australians are feeling the cost-of-living pressures, deeply impacting household budgets. Inflation is expected to peak at a high of 7.75% towards the end of 2022, before moderating to 3.5% through 2023-24 and return to the Reverse Banks target rate in 2024-25.

As part of Labour’s pre-election promise, the five-point plan was delivered in the budget to provide cost-of-living relief with policies that are affordable, fair and future focused.

Edition 118

Penalties are being issued by the ATO for late lodgements, higher interest rates are being incurred on outstanding debt, taxpayers are being contacted about their debt and taxpayers are having greater difficulty in requesting payment plans. For those who are yet to see this, great. For those who have and may be worried about the Tax Office clamping down on them, it is best to get on the front foot before they take action.

Edition 117

As the transition for all accounting procedures to the cloud is almost complete and competition between software providers increases, so does the prevalence of non-compliance functionality of these cloud-based solutions. In this article, we discuss the two major competitors in the space, being MYOB and Xero.

Edition 116

A farm clearing sale can take a lot of planning. Apart from an emotional, and full-on event there are likely some tax implications worth considering when planning your clearing sale.

Edition 115

The past 12 months have flown by and with a one of the most challenging years behind us, there is no time like the present to get your taxes in order! We know this can be an overwhelming task, so we have provided 5 key areas to help you get started.

Edition 114

A big question for a lot of people right now. With the first rise in the cash rate by the Reserve Bank of Australia (RBA) in over 18 months being announced in May followed up by a double whammy rise in June there has been a lot of talk around the office and with our clients about interest rates.

Edition 113

A major focus of the 2022 Federal Budget has been on the skills and training available for Australia’s employees and apprentices.

Edition 112

Accountants don’t scare easily, but there are many getting weak at the knees at the moment. This is all due to the Australian Taxation Office (ATO) and their ever-evolving thoughts and application of our tax laws. In this article we are going to answer the question “Do we still trust Trusts?

Edition 111

As a new member of Lincoln’s and the accounting world last year, Rochelle was amazed to discover that what we do here isn’t all about the Debits and Credits.

Let’s take a step back and reflect on what Rochelle saw in her first couple of months as a graduate accountant and all the weird and wonderful things that go on here at Lincolns

Edition 110

In a world where smartphones are at our fingertips, we tend less to venture out and experience things for ourselves. The smell of a good cafe enticing you in and the friendly staff behind the counter welcoming you with warm smiles are quite often a thing of the past. We tend to opt for convenience and often turn to the top result from a Google search if we are in the market for something.

Edition 109

Brendan Taylor woke up recently turning 55 … Aargh! I mean, it’s been coming for a while so I shouldn’t have been caught by surprise but … Aargh!

So after a walk (as the old knees prevent me from running anymore) and brunch I spent a bit of time contemplating what it means to turn 55.

Edition 108

And here we are at the end of another year – this one again has come with the highs and lows of living in a world still dealing with a pandemic. But there is still plenty to be grateful for as we enter the new year.