LG Accounting Solutions

19/05/2026

📌 Late post, but we just couldn't get enough of how cute these lovebirds are!

Congratulations to the newlyweds!

Wishing you both a lifetime of love, laughter, patience, and partnership as you begin this beautiful new chapter together.

May your happiness continue to compound, your love always reconcile, and your marriage never go out of balance. 🧾✨

18/05/2026

Yes, there are changes coming to trusts, CGT, and corporate beneficiaries — but there’s no need to panic. 🖊️

The key is proactive planning. Acting early gives you time to:

• Review your assets and trust structures

• Identify exposures and potential risks

• Restructure or plan strategically where necessary

The reforms don’t take effect immediately. This is an opportunity to plan, model outcomes, and make informed decisions that protect your business and wealth.

At LG Accounting Solutions, we help clients step back, assess their position, and implement strategies that keep businesses and families financially secure.

15/05/2026

Today is the deadline to lodge your 2025 financial year tax return in Australia.

If you haven’t submitted yet, now is the time to act. Leaving it until the last minute can create:
• Stress and rushed filings
• Missed deductions
• Potential ATO penalties or interest

Lodging on time ensures you have clarity over your tax position and allows you to plan for any payments due.

If you need support getting your return finalised accurately and on time, our team at LG Accounting Solutions is here to help.

14/05/2026

The 2026–27 Federal Budget introduces several key tax changes for individuals, investors, and small businesses.

Key highlights include:

📌 Trust Tax Changes: 30% minimum tax on discretionary trusts from 1 July 2028, with certain exclusions.
📌Negative Gearing Changes: Losses from newly acquired established residential properties deductible only against residential property income from 1 July 2027.
📌CGT Discount Reform: 50% CGT discount replaced with cost base indexation and a 30% minimum tax on gains from 1 July 2027.
📌Increased ATO Compliance: Funding for compliance, data matching, and reporting to strengthen tax system integrity.
📌Permanent Asset Write-Off: $20,000 instant write-off made permanent for small businesses from 1 July 2026.
📌$1,000 Instant Deduction: Work-related expenses up to $1,000 claimable without receipts from 2026–27.
📌Working Australians Tax Offset: Permanent $250 offset from 1 July 2027.
📌Loss Carry-Back Relief: Eligible companies can carry back losses; start-ups may access refundable offsets from 1 July 2028.

Proactive planning and accurate record-keeping will be key to navigating these changes effectively.

13/05/2026

10/05/2026

Happy Mother’s Day from LGAS! 💐

Moms are the real accountants.

They’ve been balancing budgets, managing schedules, solving problems, and making everything work long before spreadsheets ever existed.

Today, we celebrate the incredible mums and mother figures who do it all with strength, patience, resilience, and care, and sometimes, with flying slippers! 😅

We’re grateful for the amazing mums within our team, our clients, and our wider community who continue to inspire us through everything they do.

We hope today gives you the chance to slow down, feel appreciated, and spend time with the people who matter most.

Happy Mother’s Day from all of us at LG Accounting Solutions 💚

08/05/2026

📢 Perth business owners, this post is for you!

The Federal Budget is coming out next week, but what does it really mean for businesses, communities, and the future ahead?

Join us for our upcoming Federal Budget Review as we talk about the key announcements, policy shifts, economic impacts, and opportunities emerging from this year’s budget.

Get practical insights from LG Accounting Solutions partners Eynon and Payrits, and get a chance to ask the experts.

This event is free and is open to everyone who wants to stay informed.

🎟️ Register to the link below, or leave a comment so we can reserve your seats!
https://www.eventbrite.com/e/join-us-on-our-federal-budget-review-tickets-1989064246706

07/05/2026

Fringe Benefits Tax (FBT) can catch many businesses off guard. 💥

Providing benefits like company cars, entertainment, or employee perks may create additional tax obligations that are often overlooked until reporting time.

The good news is that with the right planning, businesses can manage and potentially minimise their FBT exposure.

Understanding what is reportable, identifying exemptions, and structuring benefits correctly can make a significant difference.

At LG Accounting Solutions, we help businesses navigate FBT obligations and implement strategies that support better financial outcomes.

05/05/2026

📢 If you're a small business owner, you must read THIS. Be sure to take notes! ‼️

Payday Super will be the new norm this 1 July 2026.

And for many small businesses, this will be one of the biggest payroll changes in years.

Superannuation will no longer be something you think about quarterly.
It will become part of your everyday payroll process.

So what should businesses be preparing for now?

1. Cashflow will change
Super will need to be paid within 7 business days of each payday, meaning more frequent outflows. Planning ahead is critical.

2. Payroll systems need to be ready
Your software must be able to:
• Pay super each pay cycle
• Report through Single Touch Payroll (STP)
• Handle processing timeframes accurately

3. Processes need to be tighter
With real-time reporting, errors will be picked up faster. Accurate payroll data will be more important than ever.

4. The SBSCH is closing
If you’re using the Small Business Superannuation Clearing House, you’ll need to transition before 30 June 2026.

5. Timing matters
Super must be received by the employee’s fund, not just submitted, within the required timeframe.

This is not just a compliance change.
It will impact:
• Cashflow
• Payroll processes
• Business operations

The businesses that prepare early will find this transition straightforward.
Those that wait will feel the pressure.

If you’re unsure how Payday Super will affect your business, now is the time to start the conversation.

04/05/2026

Most businesses have a tax accountant.
Fewer have an accounting strategist.

One keeps you compliant and tells you what you owe.
The other helps you plan ahead and shows you how to pay less.

The difference?
One looks at the past.
The other helps shape the future.

With rising costs, changing regulations, and tighter margins, relying on compliance alone is no longer enough.

Having an expert to guide you on making better financial decisions and ensuring you avoid ATO penalties will set your business up for the long run.

The businesses that are moving forward are the ones combining both:
✔ Getting it right
✔ Planning ahead

If you’re only getting your tax return done once a year, you might be missing opportunities along the way.
The question is…

Are you just recording history, or actively planning your next move?

06/10/2025

Which business structure is right for you? ​💡⁣
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It’s a key decision that shapes your tax, liability, and growth.​⁣
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⭐ Sole Trader - Simple and cost-effective. You’re legally responsible for all aspects of the business, including debts and losses.​⁣
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⭐ Partnership - Two or more people run the business together and share the, income or losses. ​⁣
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⭐ Company - A separate legal entity run by its directors and owned by shareholders. Provides limited liability but comes with more reporting and compliance. Regulated by the Australian Securities and Investments Commission (ASIC).​⁣
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⭐ Trust - A trustee manages assets and income on behalf of beneficiaries. Can be a discretionary trust or unit trust​⁣
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Book your free consultation for expert advice on the right structure for your business.​⁣
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🌐 https://lgas.com.au/​⁣
📞 (08) 9208 4000​⁣
📩 [email protected]​⁣
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