We have been assisting many of our clients with adoption of the new accounting standards including AASB 15 Revenue from Contracts, AASB 1058 Income for Not-for-Profit Entities, AASB 16 Leases and AASB 9 Financial Instruments. With the release of these new standards, our clients now have to recognise their revenue under entire new frameworks, they have brought in Right of Use Assets and Liabilities on the face of the balance sheets, subsequently have had to update their calculations to reflect the impact of COVID-19 and have had to change the way they account for financial instruments in line with AASB 9. The accounting environment is ever-changing and recently even more so.
by Ben Spiers
The current JobKeeper scheme runs until 27th September 2020, however the Government has extended the JobKeeper payments by a further 6 months, to March 2021, providing additional support for businesses that continue to be impacted by COVID-19.
Whilst many businesses have been able to redesign the delivery of their product or service to their clients, many are still struggling. So, what does this mean for you as an employee or an employer?
As the new financial year is about to begin, our minds here at Lee Green turn to tax! Though it may be some time before you have all of the information needed for the preparation of your individual tax return, we have provided below our handy Individual Tax Return Checklist to help you along the way. You can also download the checklist here.
Once you have compiled all of the information required, please get in touch with us to make an appointment.
The federal government financial stimulus packages in response to COVID-19 have received a lot of publicity (you can see our summary of the 22nd March update here) but state and territory governments have also released their own plans for economic assistance. Clients may be entitled to further economic support so please see below for a summary of the key points of these packages and check the links attached for further information. In addition, your local council may be offering their own assistance package so be sure to check their websites or contact our office at This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss your individual circumstances.
by Ben Spiers
The current Coronavirus (COVID-19) pandemic is creating an economic situation that is unprecedented. Businesses and individuals across the country will be significantly impacted by this for many months to come. The government has now released the second stage of its economic response to the Coronavirus, please see the below summary of the updated package.
At Lee Green we are committed to working with you to support you through this difficult time. Our services will continue, and our staff will be available to provide advice and guidance and answer any questions you may have around the economic assistance packages and any other matters. We are available and contactable by email and social media channels.
by David Charlesworth
The 36th Annual Global Conference for Russell Bedford International was held in Sydney over the 23rd to 27th Oct 2019. The hosts were the Sydney firm of Camphin Boston. There were some 79 representatives from across the world attending and with them came 35 non delegates supporting their partners attending. This made for a broad spectrum of personalities to mix amongst. There were firms there that had been members of RBI for as long as we have been in business. It’s wonderful to know that we have all that international expertise and support at our fingertips.
Since joining Lee Green in 2016, Melissa has established herself as our specialist in Xero software implementations and transitions, demonstrating enthusiasm for and expertise in cloud accounting solutions and complementary software applications. Melissa has been integral to our regular involvement in Cancer Council’s Relay for Life as well as implementing her own charitable initiatives such as Boots for Barunga by organising the collection and distribution of pre loved sports shoes to Barunga sporting festival participants. Here Melissa reflects on her time at Lee Green and its impact both professional and personal. Don't forget to keep up to date with our social media accounts for more Lee Green 30 reflections!
by Yvette Goss
Lee Green Accountant and Superannuation Specialist Yvette takes us through some of the recent changes to superannuation, the importance of lodging your superannuation fund annual return on time and what to be aware of when claiming a tax deduction for personal super contributions.
by Mike Levy
Mike Levy represented Lee Green at the 2019 Reconciliation Conference held in Perth. This was the second annual conference held by Reconciliation Australia following a successful inaugural conference held at the Richmond Football Club in Melbourne in December 2018.
