News and Insights

Small business $20,000 instant asset write-off extended 25th May 2018

The $20,000 instant asset write-off is being extended for another 12 months for businesses with an aggregated turnover of less than $10 million so that it will now expire on 30 June 2019....

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The Budget sweetener: lowering personal taxes 25th May 2018

Low and middle-income earners have emerged as the winners from the Budget. The Government unveiled their 7-year 3-phase plan, focusing on reducing the tax burden on individual taxpayers from 1 July 2018....

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Australian Federal Budget Review 2018: SMSF & Superannuation Edition 25th May 2018

An SMSF friendly budget is the good news coming out of the 2018-19 Federal Budget. Friendly only in that there were no major changes to superannuation....

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Australian Federal Budget Review 2018 8th May 2018

In the run-up to the Federal Budget, two things were expected, a budget that responsibly delivered tax cuts and also a budget that delivered ‘meaningful’ tax reform....

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Are you risking your retirement savings? 8th May 2018

If you’re planning for your retirement, don’t risk your nest egg by getting involved in arrangements that are at odds with tax and superannuation laws!...

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ATO cracking down on your work-related expenses! 4th May 2018

This year, the ATO is cracking down on taxpayers claiming incorrect ‘other’ work-related expenses. It’s important to make sure you don’t claim more than you are entitled to!...

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Single Touch Payroll reporting: ATO urges employers to get ready 26th April 2018

The ATO is urging employers with 20 or more employees to start preparing now for the Single Touch Payroll (STP) reporting regimen, which will be mandatory from 1 July 2018....

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Finance Update: April 2018 26th April 2018

As you know, when it comes to paying insurance premiums, many insurance companies expect a lump sum payment, which may impact on a business's cash flow. Whether it’s for general business insurance, professional indemnity, Workers Compensation or many others, Kelly+Partners Finance may be able to assist in funding the Insurance Premiums....

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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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Investing in Bitcoin? Know the tax implications 18th April 2018

A bit confused about Bitcoin? What is it and what does tax have to do with it? Here, we share a few key facts and the tax consequences that may arise if you are thinking about investing (or have already invested) in Bitcoin....

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