Knowledge Centre

Claiming the cost of repairs on a rental property? What you can and can’t claim 20th April 2018

Need to do some repairs on your rental property? You may be able to deduct these repairs and maintenance costs.The first thing to remember is that the repairs and maintenance costs must relate directly to ‘wear and tear’ or other damage that occurred as a result of you renting out the property....

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The write-off threshold of $20,000 will cease on 30 June 2018 29th March 2018

If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your tax return. The $20,000 threshold applied from 12 May 2015 and will reduce to $1,000 from 1 July 2018....

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Warren Buffett's highly anticipated annual letter to Berkshire Hathaway shareholders 23rd March 2018

Warren Buffett's highly anticipated annual letter to Berkshire Hathaway shareholders released last weekend did not disappoint this year with a little something for all fans of the Oracle of Omaha, from professional value investors to the casual admirers of his wit and wisdom....

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Property and my SMSF 23rd March 2018

Directly held property makes up approximately 19% of all SMSF assets, indicating that many SMSF trustees consider it’s an important and significant part of a diversified portfolio.  There are numerous strategies and ways for property to form part of an SMSF’s investments and each must be carefully considered....

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Do you provide cars, holidays or club membership to your employees? 23rd March 2018

Rewarding your employees beyond their usual salaries is a great way to show your appreciation for a job well done.If you do provide your employees with benefits or lifestyle assets to use for their personal enjoyment, it is important to remember that these benefits and assets may have fringe benefit tax (FBT) implications for your business. ...

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GST Alert: Australian Government Turns Property Purchasers Into Gst Collectors 23rd March 2018

The Federal Government has introduced legislation into Parliament that turns mum and dad property purchasers into GST collectors for the ATO.  The Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 imposes onerous obligations on developers and purchasers from 1 July 2018 and is likely to cause significant practical and administrative difficulties, particularly in the short term.  Developers and other vendors of residential property will need to prepare for new rules....

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Five things that I think will shape the global and Australian economies in 2018 - By Trent Doughty 26th February 2018

Here are five things that I think will shape the global and Australian economies in 2018, and that expect I’ll be talking about with investors over the course of the year. ...

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It’s time to think about your investment strategy 26th February 2018

You’ve made it through the financial year and navigated the new superannuation laws that took effect on 1 July 2017 but there is one thing you should always think about and that’s your investment strategy. Additionally, there is no better time than right after a financial year ends where you can review your self managed super fund’s (SMSF) investment strategy and its performance. ...

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The small business $20,000 instant asset write-off extended! 26th February 2018

The small business write-off threshold of $20,000 has been extended to 30 June 2018 and is available to all small businesses with an aggregated turnover of less than $10 million. After 30 June this year, the threshold will reduce to $1,000....

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Kelly+Partners Wealth Management are pleased to announce the appointment of Shane Hay as Client Director 13th February 2018

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