Latest News

Latest News2017-11-29T12:31:49+00:00

Changes to Xero Subscription

As of the 28th of September 2018, Xero will be changing the pricing of their subscriptions for all existing and new subscribers. These changes will be from Premium 5 to Premium 100 and will include additional features and improvements in payroll. If you are currently on the Starter or Standard [...]

By |September 10th, 2018|Categories: Business Management, General News, Tax Saving|

How will My Property be Taxed in the Sharing Economy?

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 Tax [...]

By |September 5th, 2018|Categories: Business Management, General News, Tax Saving|

5 minutes with….. Serena Ma

Serena is an Accountant at Hoffman Kelly and has worked here for three years. We asked her to tell us in her own words what a few of her favourite things are, past experiences and what life is like at Hoffman Kelly. How long have you worked at Hoffman Kelly and what brought you to that [...]

By |September 5th, 2018|Categories: 5 Minutes with.......|

The key changes from the 2018/19 Federal Budget

$20k Accelerated Depreciation Extended The ability for small business entities to claim an immediate deduction for assets costing less than $20,000 has been extended until 30 June 2019. From 1 July 2019, the immediate deduction threshold will reduce back to $1,000. Personal Income Tax Cuts From July 1 2018: The [...]

By |May 14th, 2018|Categories: General News|

5 minutes with….. Michael Scott

Michael is an Accountant at Hoffman Kelly and has worked here for two and a half years. We asked him to tell us in his own words what a few of his favourite things are, past experiences and what life is like at Hoffman Kelly. How long have you worked at Hoffman Kelly and what brought [...]

By |May 1st, 2018|Categories: 5 Minutes with.......|

Alert: Property Developers – Preparing for new GST withholding regime

Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 received royal assent on 29 March 2018, flagging the start of a new GST withholding system significantly changing the way developers remit GST from 1 July 2018. Author Michael Kerwin Why? Treasury assessed, that through illegal phoenix activities in [...]

By |April 16th, 2018|Categories: Business Management, General News, Tax Saving|

What is Single Touch Payroll (STP) and when does it apply for your business?

STP is being introduced to align payroll with more regular reporting. It will not only identify non-compliance more quickly, but also ensure better collection of unpaid entitlements and penalise employers who repeatedly offend. At the end of each pay an employer must report ALL payment information to the ATO. These include; salaries and wages, PAYG [...]

By |April 5th, 2018|Categories: Business Management, General News, Tax Saving|

Buying or Selling a Business – How are you going to structure the transaction?

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 to [...]

By |April 5th, 2018|Categories: Business Management, General News, Tax Saving|

Who is liable to pay annual vacancy fee (also known as ghost tax)?

Measures were introduced in the 2017 budget to assist with the supply of housing in Australia. The measures impose an extra fee on foreigners who do not either reside in, or rent out, their Australian properties. This is in response to a perception that there were too many of these ‘ghost’ properties. Author [...]

By |April 5th, 2018|Categories: Business Management, General News, Tax Saving|

2017/18 SME Research Report

SMEs are the lifeblood of the economy, and there are more than 2 million actively trading businesses in Australia. We have collaborated with Bstar to bring you this SME Research Report. The Report provides insights into the opinions and concerns of business owners, and explains how SMEs are surviving and thriving. If you would like [...]

By |February 27th, 2018|Categories: General News|

Cone of Silence Lifted – Mandatory data breach notification laws to take effect

On 22 February, new laws will require businesses who suffer data breaches to notify both the government and their customers / clients.  The consequences of a notification could be extremely damaging to businesses, and it is therefore imperative to understand the rules and to take action to protect yourself! Author Thomas Aitkenhead [...]

By |January 30th, 2018|Categories: Business Management, General News, Tax Saving|