Government Announces Changes to Proposed ‘Stage 3’ Tax Cuts
Despite previous assurances, the Government has unveiled tweaks to the ‘Stage 3’ tax cuts set to take effect from July 1, 2024. Notably, the proposed changes include: – Reducing the 19% tax rate to 16%, adjusting the 32.5% rate to 30% for incomes between $45,000 – A new $135,000 threshold, increasing the threshold for the …
Celebrating milestone achievements for the Lucas & Co team!
Ken has just closed a monumental chapter, finishing his medical degree with flying colours! Meanwhile, Victor is making his mark in the taxation world, having applied for his tax agent registration. We’re bursting with pride for these two – Join us in congratulating them on their dedication and hard work. The future looks bright, and …
A trip of a lifetime to reset and recharge!
I am sharing a couple of pictures of my recent trip to Rodrigues, a remote island to the heart of Indian Ocean. This journey was to re-connect with my family in Mauritius and also a reminder of how stepping away from the familiar can reset the mind, body and soul. A major highlight was getting …
Peter Murray Claims ITR World Tax Ranking for Tax Controversy!
Big shoutout to Peter Murray, our renowned tax counsel at Lucas and Co Chartered Accountants! Specialising in corporate tax issues for both listed and privately-owned groups, Pete’s expertise in ATO disputes and resolutions has earned him a spot in the ITR World Tax Ranking for Tax Controversy. This accolade underscores his dedication and proficiency in …
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 …
How a Chartered Accountant Can Help You Take Control
As Chartered Accountants, we understand the importance of taking control of one’s financial future. This quote is not only a powerful reminder of personal responsibility, but also of the role that professional advisors can play in helping individuals achieve their goals. As an expert in financial matters, we can provide valuable guidance on setting and …
Supporting growth and diversification of the accounting profession!
We take pride in having an active role in supporting the growth and diversification of the accounting profession throughout South East Queensland. Our Director & Founder, Jean Marc, is a member of the local committee board for Chartered Accountants Australia & New Zealand (CAANZ), which represents more than 135,000 financial professionals, supporting them to make a difference …
Work from home expenses: new rate
A new revised fixed-rate method for calculating WFH expenses will apply from 1 July 2022 onwards. This new rate of 67c per hour covers energy expenses, internet, mobile, home phone, stationery and computer consumables. With the previous shortcut method of 80c per hour no longer available, taxpayers will only have the choice between this new …
Non-deductible threshold removed for self education
The non-deductible threshold for work-related education expenses of $250 has now been removed with the recent passing of legislation. This deduction limit was an artifact from when the self-education deduction measure was first introduced and no longer served its original purpose. Now that it has been repealed individual taxpayers only need to consider the deductibility …