Luka Group Chartered Accountants & Financial Advisers in Dubbo, New South Wales, Australia | Accountant

Luka Group Chartered Accountants & Financial Advisers

Locality: Dubbo, New South Wales, Australia

Phone: +61 2 6883 2200

Address: 2 River St 2830 Dubbo, NSW, Australia

Website: http://www.lukagroup.com.au

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25.01.2022 Here is a recent weekly market update covering off some key insights across the global economy http://www.lukagroup.com.au/weekly-market-update-week-4-ma/

25.01.2022 Business and Commercial real estate relief On Monday, the Australian Banking Associations CEO Anna Bligh announced additional relief to struggling businesses and Commercial property landlords by extending the previous $3 million threshold to $10 million for those who qualify for the 6-month deferral of loan repayments. The conditions that apply are: For commercial property landlords, they provide an undertaking to the bank that for the period of the interest capitalizati...on, they will not terminate leases or evict current tenants for rent arrears as a result of COVID-19 The customer was in terms of the existing loan facilities 90 days prior to applying The interest is capitalised this means either the term of the loan is extended or payments are increased after the deferral period The customer has advised the its business is affected by COVID-19 The above measures are subject to authorisation from the ACCC.

25.01.2022 INCREASED INSTANT ASSET WRITE-OFF THRESHOLD & DEPRECIATION CHANGES The Government in their stimulus package has announced that they are increasing their instant asset write-off threshold for small and medium business. The Government has also announced depreciation changes. So what does this look like?... Instant Asset Write-Off Threshold Increase: - The instant asset write-off threshold is rising from $30,000 to $150,000. - The instant asset write-off threshold increase is for assets purchased between 12/3/2020 and 30/6/2020 and applies to all businesses with an aggregated annual turnover of less than $500 million. Increased Depreciation Changes: - Business will be able to deduct an additional 50 per cent of the asset cost in the year of purchase. For instance if your depreciation rate is 15% in the first year you purchase a new asset, this will become a depreciation rate of 65% under the changes. - This change started on 12/3/2020 and will run for 15 months through to 30/6/2021. To be eligible businesses must have an aggregated annual turnover of less than $500 million. - This will apply to assets costing more than $150,000 as anything under $150,000 will have the instant asset write-off eligibility. For more information please contact our office on (02)68832200. **DISCLAIMER: THE ABOVE CHANGES ARE SUBJECT TO LEGISLATIVE PASSING**

24.01.2022 Extension of JobKeeper The JobKeeper Payment, which was originally due to run until 27 September 2020, will continue to be available to eligible businesses (including the self-employed) and not-for-profits until 28 March 2021. In addition, from 3 August 2020 the relevant date of employment will move from 1 March to 1 July 2020, increasing employee eligibility for the existing scheme and the extension.

22.01.2022 We are all ready for our virtual opening tomorrow at 8:45am. If you need to speak with us, please phone our normal office number 0268832200 and we will be there to answer your call. #remoteworking

22.01.2022 COVID-19 UPDATE & LUKA GROUP OFFICE - NOW OPEN We wish to advise that we have re-opened our office. We are still wanting to minimise meetings to protect our staff, our clients and their families.... If you would like to get in touch to arrange a meeting or talk to your Adviser please call us on our office number (02)68832200. Thank-you for you support.

22.01.2022 CASH FLOW ASSISTANCE FOR BUSINESSES The Government in their stimulus package has announced that they are providing cash flow assistance for some businesses. Which businesses are these and how does it work?...Continue reading

22.01.2022 Has the Coronavirus impacted our financial markets? Find out why the markets arent immune to the Coronavuirus: http://www.lukagroup.com.au/the-coronavirus-and-its-impact/

22.01.2022 ATTENTION CLIENTS AND FRIENDS OF OUR FIRM Given the severity of the Coronavirus we have elected to not have any face to face client meetings in our office. Our office is still open however client meetings need to be done using: - Telephone... - Virtual Meeting/Conference Calling - Email If you would like a meeting please phone our office and we can arrange to do this. Thank you for your understanding and please contact us on (02) 68832200 if you need our assistance.

21.01.2022 PAYROLL TAX CHANGES & NSW STIMULUS FOR PAYROLL TAX Further announcements have been made by the government regarding payroll tax relief for businesses with grouped Australian wages of no more than $10 million in conjunction with a threshold increase for the 2020/21 year - follow the link to find out more.

21.01.2022 When it comes to planning for your retirement, there are three factors you may overlook that could affect your income. Follow the link to our website to find out how you can make the most of your retirement income. http://www.lukagroup.com.au/3-factors-affecting-retirement/... #Retirement #Income #Interest

21.01.2022 Luka Group is a proud sponsor of Dolly Festival, held in Narromine on the 17th & 18th of April 2020! The event boasts a jam-packed program including live music, street parade, family-friendly events and so much more! Dress as Dolly or Kenny, come with a group of friends or the pack the kids up for a weekend away. For more information follow the Facebook page or visit the website: www.dollyfestival.com... #dollyfestival #dollyfestivalnarromine #raisedondolly

21.01.2022 July Economic & Fiscal Update Yesterday, Treasurer Josh Frydenberg presented the Mid-Year Economic & Fiscal Outlook which is the first since December. Obviously, things are significantly different and Frydenbergs hopes for a Budget surplus for the first time in 12 years have vanished. http://www.lukagroup.com.au/economic-fiscal-update-july-20/

20.01.2022 LUKA GROUPS RESPONSE TO THE CORONAVIRUS As you would be aware there are many unknowns with the Coronavirus or COVID-19. Whilst we do not have Coronavirus in our office, we want to assure everyone that our commitment to our clients and staff needs is our priority along with the health of our clients and staff.... At present we are operating as usual with precautions taken where necessary. The precautions are: - We have elected as an office not to shake hands. - We are asking that everyone keep a distance of 1.5 metres between themselves. - Where possible we would like to minimise our meetings, if they are necessary these will be kept to a minimum and short in time. - If you are unwell, concerned or self-isolating and would like a virtual meeting please let us know, we can arrange that through Microsoft Teams. We can send you a Microsoft Teams link by email and you do not need to buy any software. - Any client that comes into our office to sign documents will be given a pen that they can keep. - Every time someone enters our office they are asked to wash their hands please do not be offended, it is a precautionary measure. - Finally, if you have symptoms, have been diagnosed with Coronavirus or are not feeling well please do not enter our office. For more information on the Coronavirus please follow this link, https://www.health.nsw.gov.au//dise/Pages/coronavirus.aspx This is an evolving situation. Should our circumstances change and our office does need to close or our staff need to isolate we are well equipped with the latest technology to have virtual meetings, phone calls to continue to deliver our services to you. We appreciate your assistance and understanding at this time. If you have any queries please phone our office on (02) 68832200.

20.01.2022 DEMYSTIFYING THE STIMULUS PACKAGE (PART 1) Luka Group is committed to keeping you informed throughout the Coronavirus Health Crisis, please see below our latest information on changes to Government payments and income support associated with the Coronavirus.

19.01.2022 JOBKEEPER PAYMENTS - IMPORTANT INFORMATION AND LINK TO REGISTER YOUR INTEREST The economic impacts of the coronavirus pose significant challenges for many businesses many of which are struggling to retain their employees. Under the JobKeeper Payment, businesses significantly impacted by the coronavirus outbreak will be able to access a subsidy from the Government to continue paying their employees. This assistance will help businesses to keep people in their jobs and re-sta...Continue reading

18.01.2022 If your small business or not-for-profit organisation has experienced a decline in turnover as a result of COVID-19, you may be eligible for a small business recovery grant of between $500 and $3000.

18.01.2022 Do you employee an apprentice or trainee in your business? Were you aware that the government is now offering financial support to retain these employees throughout these trying times? From 1 April 2020, employers can register to receive a subsidy for wages paid between January and March this year. The subsidies will continue through to 30 September 2020, with a maximum available of $7,000.00 per eligible apprentice or trainee, per quarter.... For more information, see the link attached and get in contact with your Australian Apprenticeship Support Network (AASN) provider. Contact Luka Group on 02 6883 2200 to see how this measure can further help to sustain and improve your business! https://www.employment.gov.au/supporting-apprentices-and-tr

17.01.2022 Financial wellbeing is often overlooked as one of the pillars of good health, but its every bit as important to your physical, mental and emotional state. When you take the time to focus on your financial health, you may see a range of positive flow-on effects such as peace of mind and enjoying your leisure time more.

16.01.2022 With the current health crisis, many businesses have moved away from cash and are accepting payment by credit or debit card only. While older Australians are still those most likely to prefer to pay by cash, habits are changing. Here we explain some of the common online or contactless payment methods. http://www.lukagroup.com.au/digital-payments-and-online-ba/

16.01.2022 JOBKEEPER PAYMENT EXTENDED JobKeeper payments will continue to be available to eligible businesses (including the self-employed) and the non-for-profits until 28 March 2021. However, to lower the dependence on it gradually, there will now be a two-tier system, with reduced payments from 28th of September, plus further reductions in payments from the 4th January 2021.... Those employees & business participants who worked fewer than an average of 20 hours per week for the 4 weeks prior to the 1st of March 2020 will be on the lower tier payment. For the higher tier, payments from the 28th of September to the 4th January will be $1200 per fortnight, and from the 4th of January to the 28th of March the payments will be $1000 per fortnight. For the lower tier, payments from the 28th of September to the 4th January will be $750 per fortnight, and from the 4th of January to the 28th of March the payment will be $650 per fortnight. To be eligible for the extension of the payments there will be a reassessment of eligibility, while eligibility for payments up until the 28th of September will not be reassessed. Businesses & non-for-profits will be required to demonstrate they have met the relevant declines in GST turnover in the June 2020 quarter & the September 2020 quarter compared to the previous year. To be eligible for JobKeeper Payments under the extension, businesses and not-for-profits will still need to demonstrate that they have experienced a decline in turnover of: 50 per cent for those with an aggregated turnover of more than $1 billion. 30 per cent for those with an aggregated turnover of $1 billion or less; or 15 per cent for Australian Charities and Not for profits Commission-registered charities (excluding schools and universities). If you need help or assistance please call our office on (02) 68832200 to discuss your situation.

14.01.2022 Luka Group is proud to be supporting the Luka Group Stableford today at the Dubbo Golf Club.

13.01.2022 $10,000 NSW Small Business Support Grant NSW Government has allocated $750 Million to provide one off $10,000 grants to small businesses affected by the Coronavirus. To be eligible, businesses will need to:... Have between 1-19 employees and a turnover of more than $75,000; A payroll below the NSW Government 2019-20 payroll tax threshold of $900,000; Have an Australian Business Number as at 1 March 2020, be based in NSW and employ staff as at 1 March 2020; Be highly impacted by the Public Health (COVID-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020; Use the funding for unavoidable business costs such as utilities, overheads, legal costs and financial advice; Provide appropriate documentation upon application. We expect more details to be available as we approach the opening date of April 17th. For information on this and more initiatives announced by the NSW Government, please see the below link. If you need any assistance with this or any of the State and Federal Stimulus packages, please feel free to reach out to our firm on the phone (02) 6883 2200.

13.01.2022 A walk through of our Financial Planning service

12.01.2022 If retirement is on your radar, your lifestyle will change - and so will your insurance needs. As part of your retirement plans, its a good idea to make sure youre holding the right insurance for the lifestyle you want. One way to get started is to think about what you really need, and what you dont. Heres a simple checklist that may help. http://www.lukagroup.com.au/why-its-important-to-think-abo/

11.01.2022 ATTENTION FARMERS The Emergency Water Infrastructure Rebate is still available. The Emergency Water Infrastructure Rebate scheme is available to eligible primary producers who can claim rebates of up to $25,000 on new purchases and installation costs of water infrastructure projects for animal welfare needs. This includes the installation of pipes, water storage and water pumps, de-silting dams and associated power supplies such as generators. This Rebate scheme can be applie...d to costs incurred from 1st July 2018. For invoices dated from 1 July 2019, the program is also open to horticulturalists with permanent plantings who can apply to install new bores or desilt dams. The maximum that can be claimed is $25,000 per farm enterprise. The availability of rebates is subject to funds being available. No rebates will be offered beyond the allocated funding. Applications close 30 June 2021 or when the funding allocation is exhausted, whichever occurs first. Find out more below: http://www.lukagroup.com.au/on-farm-emergency-water-infras/

11.01.2022 We all know that increasing our physical fitness requires time, commitment and effort. The rewards are a greater sense of wellbeing both physically and mentally. Likewise, we can also improve our finances by assessing where we are now, where we want to be in the future, and taking the necessary steps to get there. So, the question is, how fit are your finances? And how can you measure it? http://www.lukagroup.com.au/how-fit-are-your-finances/

11.01.2022 Mick McKenna and Ed Thompson had the pleasure this morning of playing in the Womens NSW Open Pro-Am presented by Worrells Solvency & Forensic Accountants. They were teamed up with Rebecca Artis a professional golfer who is originally from Coonabarabran. Good luck for the tournament Rebecca! #womensNSWopen

10.01.2022 IS YOUR BUSINESS READY FOR THE CORONAVIRUS? The Coronavirus has been the catalyst for uncertain economic conditions. In these times you need to take control of your financial management. Our specialist team of Accountants, Business Advisers, Financial Advisers and Auditors have the experience and knowledge to partner with you and navigate you through this time. We believe a proactive approach is better than a reactive approach. YES! The Coronavirus will impact your business a...nd now is the time to review your situation. We can provide the following services to you now. - Demystifying the Governments Economic Stimulus package; - Bank Negotiations; - Reviewing your staffing arrangements and assisting you with possible avenues to retain your staff; - Analysing your Cash Flow Risks and developing a Recovery Plan; - Cashflow Budgeting; - Analysing Overheads, Debtors and Creditors; - ATO Negotiations; and - Business Services Tax Advice. Our Financial Advisers can help you understand the changes that are happening in the financial markets. Our team can review your retirement goals and within the current market constraints build a framework with you so that you can maximise your retirement wealth. Our team can review your superannuation investment strategy and ensure that you are equipped for the future. We can also review your life insurance policies to ensure that you have the right protection and guide you through the recovery process. We also have a mortgage broker in our firm who can assist with home loans (both new and refinancing existing home loans), equipment finance and ATO debt financing. Please call our office on (02) 6883 2200 to discuss your situation. Even if you are not currently a client, we would be happy to assist.

09.01.2022 DEMYSTIFYING THE STIMULUS PACKAGE (PART 2) Luka Group is committed to keeping you informed throughout the Coronavirus Health Crisis, please see below our latest information on changes to Government payments, early access to superannuation and income support associated with the Coronavirus.

08.01.2022 The Coronavirus crisis and its far-reaching consequences has had a devastating impact on the lives and livelihoods of many households, families and businesses. Many people accustomed to a stable income are now wondering how theyre going to pay their bills. Business owners also face a host of challenges. Here are five things were recommending to our clients to help them get through. http://www.lukagroup.com.au/staying-afloat-through-the-cov/

08.01.2022 LUKA GROUP SUMMARY ON GOVERNMENT ASSISTANCE TO HELP BUSINESSES Eligible businesses can apply for assistance with the NSW & Federal Government if they have been affected by Coronavirus. At Luka Group we have prepared a summary below on some of the major assistance available to businesses. Please see below for more details: $10,000 NSW SMALL BUSINESS GRANT...Continue reading

06.01.2022 ECONOMIC STIMULUS PACKAGE RELEASED The Government has today announced a stimulus package, the package is broken into 4 areas: - Increased instant asset write-off threshold from $30,000 to $150,000 along with changes to depreciation rates on assets that cost more than this.... - Assistance of up to $25,000 for small businesses that employ staff along with wage assistance for employers that have apprentices and trainees. - A one off $750 stimulus payment to pensioners, social security, veteran and other income support recipients and eligible concession card holders. - Assistance for industries severely affected by the Coronavirus including Tourism. For more information please follow the link below: https://www.pm.gov.au/media/economic-stimulus-package

06.01.2022 Coronavirus How could this impact your family? How would your family cope financially if you were unable to work? How would you meet your expenses, such as loan repayments, utilities, food / groceries etc.? Would you have sufficient sick leave entitlements?... A solution is Income Protection insurance. Income Protection insurance replaces 75% of your gross annual income as a payment if you are unable to work due to illness or injury. Contact Luka Group on (02) 6883 2200 and speak to one of our Financial Advisers today.

05.01.2022 Check out our latest article breaking down the Federal Budget

04.01.2022 Looking to sell your business/retire? Need a plan? Talk to us about creating a workable exit strategy, with a clear focus on driving value and delivering a solid return on your investment. #smallbusiness #retirementplan

04.01.2022 Xero short-term cashflow features For most businesses, income and expenditure dont always happen at the same time so focusing on strong cashflow management is vital. We can help with that.

04.01.2022 HomeBuilder Grant Program released!! Here is a short article running through all you need to know about the most recent stimulus package.http://www.lukagroup.com.au/homebuilder-grant-program-has-/

03.01.2022 COVID-19 UPDATE & LUKA GROUP OFFICE CLOSURE We wish to advise that we have temporarily closed our office so that we can protect our staff, families and clients from the spread of Coronavirus. We are very well equipped with the latest technology to be able to work from our homes. ... Should you wish to contact us you can phone our office as normal and talk to your Adviser, should you wish to have a meeting this can be done via video conference which we can organise through the use of Microsoft Teams. If you would like to get in touch to arrange a meeting or talk to your Adviser please call us on our office number (02)68832200. We appreciate that these are uncertain times, and thank you for your understanding.

01.01.2022 Are you spending more online due to the Coronavirus lockdown measures? If so, youre not alone. With the growing number of buy now, pay later schemes, food delivery services and online streaming its easy to lose track as to where your money is going. Here are five ways you could be overdoing it and how to put some sensible limits in place. http://www.lukagroup.com.au/take-stock-of-how-much-conveni/

01.01.2022 Our August Informed Investor newsletter is now out!!