ATO SMSF focus areas for 2023
In a recent speech, Justin Micale, ATO Assistant Commissioner of Self Managed Super Funds Risk and Strategy area outlined the risks on ATO’s radar in the SMSF space and provided some insights on approaches the ATO is using to address those risks. While most of these are returning favourites such as identity fraud, investment scams …
11/08/2023: Small business energy incentive
The government has released plans to introduce a small business energy inventive to help small and medium businesses electrify and save on their energy bills. The proposal is currently in the consultation stage, but once implemented will see businesses with an aggregated annual turnover of less than $50m gain access to a bonus 20% tax …
ATO flags common GST reporting errors and how to correct
The ATO has reported that some businesses are making simple mistakes reporting their GST. The ATO reminded taxpayers to avoid the following common GST reporting errors: Transposition and calculation errors No tax invoice Transaction classification Accounting systems If a taxpayer finds a mistake made on a previous activity statement, the ATO says they can: correct …
An exquisite evening of connection and enlightenment!
We are deeply appreciative of the unwavering support from our exceptionally loyal clients and the esteemed leaders from the accounting industry who graced us with their presence. Your participation transformed this exclusive VIP gathering into a truly memorable event. From profound discussions to an engaging Q&A segment, the evening was meticulously curated to delve into …
4 Benefits to using a chartered accountant this EOFY!
As a medical or property professional, you have unique tax obligations that require specialized expertise. That’s why using a chartered accountant (like us!) for your End of Financial Year (EOFY) tax planning can be a game-changer. Here are some benefits: 1. Industry-specific expertise: we have in-depth knowledge of the tax laws and regulations that affect …
We are dedicated to serving property and medical industries!
It is important for us to build a brand around being the best in our niche! So we want to share with you the three core pillars that we have implemented to help us help you. These pillars include financial reporting, back-office operations for multinational entities operating in Australia, and tax advisory and compliance for …
Our personalised systems will set you up for success!
Have you worked with Lucas & Co Chartered Accountants lately? We would love to hear from you! One thing that we believe in is that you never stop growing, both personally and professionally. We understand that every client is different and ensure our systems are serving them as they should be. For example, a client …
Who do we serve as a boutique accounting firm?
As a boutique firm, we specialize in serving the medical and property sectors, catering to high-income individuals and international companies. Our unique focus sets us apart from our competitors and allows us to offer a hands-on service that is tailored to each client’s specific needs. By owning our niche, we have established ourselves as experts …
We’ve Been Nominated for the Australian Accounting Awards!
We’re extremely excited to be nominated for the 2023 Australian Accounting Awards – Boutique Firm of the Year (less than 20 employees). Not only is it amazing validation for our talented team, but also for our clients. We have many long-standing relationships with our clients so being nominated for this prestigious accounting award is a …