At Hoffman Kelly, we understand that taxes can be confusing and overwhelming. That's why we broke down what Division 293 Tax is and how it may affect you. What is Division 293 Tax? Division 293 Tax, also known as the Additional Tax for High Income Earners, is a tax imposed on concessional superannuation contributions [...]
At Hoffman Kelly, we are dedicated to supporting clients and assisting them to reach their full potential. Our team consistently strives to bring the most current and relevant tax information. In order to help you prepare your business for the end of the financial year, we planned the series of articles Tax Ready with #HoffmanKelly. [...]
The 30 June deadline approaches quickly every year, and it is important for business owners to review their annual tax figures and look at tax saving options before they miss the limited window of opportunity. As your trusted advisor, we can promote strategies to maximise cash-flow, minimise tax and comply with regulatory requirements. These [...]
The Research & Development Tax Incentive can allow a business to recoup some of the costs incurred during the development phase of eligible activities. This can assist cash-flow throughout the research and development phase, which is often draining on cash-flow. The rules and processes for the R&D tax incentive are based on complex legislation, [...]
The sharing economy is continually evolving and growing. As the sharing economy grows in popularity, the tax issues arising are increasingly complex. We’ll explore in further detail the different tax outcomes for renting a property and car space. Author Matthew Yarrow Property Rental Income and Deductions (e.g. Airbnb) Income [...]
Buying or selling a business can be an exciting and daunting process. you will need to find prospective buyers or the appropriate business to acquire, prepare the business for sale and complete business valuations. Author Matthew Yarrow But perhaps more important, and often overlooked, is the need [...]
